Bitcoin Casinos in India
As cryptocurrencies are becoming more mainstream, players can now find a selection of Bitcoin casinos in India. This guide will explore all the benefits and drawbacks of using Bitcoin as a casino payment method. We’ll also walk you through how to purchase Bitcoin (BTC) and how to deposit and withdraw from your chosen gambling site.
Bitcoin casinos are known for offering generous bonuses. Check out the offers in the table below and sign up to your favourite site if you feel this is the most suitable payment option for you.
How to buy and store Bitcoin
Before you can make a Bitcoin casino deposit, you need to purchase some. If you’re totally new to cryptocurrencies, then one of the easiest ways to buy BTC is through Neteller or Skrill. Both of these e-wallets allow users in India to deposit rupees and convert that currency to Bitcoin.
While this method is the most straightforward, it’s also the most expensive.
These are the fees for using Neteller to buy cryptocurrencies.
- Transactions up to USD 19.99 - Fee USD 0.99 per transaction
- Transactions USD 20.00 - USD 99.99 - Fee USD 1.99 per transaction
- Transactions above USD 100.00 - Fee 1.5% per transaction
An alternative way to get Bitcoin is to use a cryptocurrency (digital asset) exchange, such as WazirX, CEX.io, Coinmama or Paybis, among others. You’ll need to create an account and make a deposit. Then, you go to the INR to BTC market and place an order to buy some Bitcoin.
With Bitcoin and other digital assets, it’s recommended to store them in your own wallet, where you have control of the private keys. There are many wallets available - both online and offline. This is something you should consider setting up at your earliest convenience.
How to make a casino deposit using Bitcoin
The process for making Bitcoin casino deposits is a little different to using a credit card, bank account or e-wallet, but once you have done it once, you’ll discover how simple it is. For guidance on your first BTC deposit, follow these steps:
- Sign up with one of our recommended Bitcoin casinos. If you already have an account, simply sign in.
- Go to the banking section, click on ‘Deposit’ and select Bitcoin.
- A wallet address (to receive the BTC) will be generated. Copy this.
- Go to your wallet/exchange (the place where your Bitcoin is).
- Choose ‘Withdraw/Send’ Bitcoin. Paste the wallet address you got from the casino.
- Follow the instructions to confirm the transaction, and the BTC will be sent to your casino account.
Bitcoin casino withdrawals follow this exact process, but in reverse. All you need is the address of your BTC wallet, and then you send your BTC from the casino to the wallet.
Pros and Cons to Bitcoin Casinos
Knowing if Bitcoin is the best payment method for you, means understanding the pros and cons attached to using this digital currency.
Advantages of Bitcoin
The benefits of using Bitcoin for casino payments are:
- It can be used anonymously. A BTC wallet address is all you need to deposit and withdraw.
- Often high limits for both deposits and withdrawals, making it a good option for high stakes players.
- The price of Bitcoin itself can increase, which adds value to your balance.
- Usually fast deposits and withdrawals.
- No personal financial information is shared with the casino.
Disadvantages of Bitcoin
Taking into account the perks of using Bitcoin, these are the main disadvantages:
- Not accepted at as many casinos as credit cards.
- The price of Bitcoin is known to be extremely volatile. While it can increase, it can also crash.
- Some network fees are involved in moving BTC from wallet to wallet.
- The speed of transactions depends on how busy the network is.
- It’s not the simplest method to use for newcomers.
Alternative Payment Methods
If you decide that Bitcoin is not the right fit for you, the good news is that there are many alternative payment methods available to online casino players in India. These are some of the most popular options:
VISA / Mastercard - credit cards have been used for online gambling for more than two decades. They offer many benefits, including high banking limits and instant deposits.
Skrill / Neteller - you can use these e-wallets to buy Bitcoin. Alternatively, they can be used as a funding method alone. E-wallets are perfect for fast payouts and state-of-the-art security.
Google Pay - use your Google account to make fast and convenient casino deposits using the Google Pay payment gateway. This service typically links a bank account or credit card and forwards the payment to your gambling site.
Paytm - a well known mobile wallet, Paytm allows users to make quick and easy casino payments from their portable device.
PhonePe - with PhonePe, you can use the PhonePe wallet, or you can link a bank account. With both methods, you can make deposits and withdrawals to your favourite casinos.
AstroPay - this is a prepaid card solution. Customers simply purchase an AstroPay Card and use the unique 16-digit card number to deposit.
We’ve included some essential frequently asked questions about Bitcoin casinos in India.
Are Bitcoin casinos safe?
The Bitcoin casinos recommended at Desibets are licensed and regulated gambling sites. This makes them safe and fair.
Are Bitcoin casinos legal in India?
In most states, yes. It is not illegal to buy Bitcoin from an exchange in India. Furthermore, the Bitcoin casinos are offshore sites, which are allowed to accept players from India. The exceptions are Andhra Pradesh, Tamil Nadu and Telangana - all forms of online gambling are banned in these states.
How do I exchange my Bitcoin to rupees?
After landing a win at a Bitcoin casino, you can withdraw your BTC. To exchange this back to rupees, you must sell it on an exchange. The process is the same as when you initially purchased it. However, you’re now placing a ‘sell order’ instead.