Bitcoin Cash (BCH) is a very popular cryptocurrency for casino play given that it is essentially a faster version of Bitcoin with similar levels of security, privacy, and acceptance.
Bitcoin Cash launched in August 2017 as a fork of Bitcoin and many cryptocurrency casinos that already accepted Bitcoin began accepting Bitcoin Cash soon after, making Bitcoin Cash gambling a great alternative to Bitcoin gambling.
Bitcoin Cash has established itself as a top cryptocurrency in its own right, and all reputable crypto casinos now allow gambling with Bitcoin Cash.
Bitcoin Cash was first and foremost intended to be a cryptocurrency for payments, which makes it a great alternative for those who have only ever used Bitcoin.
What is Bitcoin Cash?
Bitcoin Cash is a digital currency created with one purpose in mind – payments.
It was created in 2017 when a group of Bitcoin supporters were so concerned by Bitcoin’s slow transaction speed and cost that they decided to ‘fork’ Bitcoin and change the code.
This increased the number of transactions the blockchain could carry in one go, reducing the transaction time by some 4x.
Bitcoin Cash is decentralized which means it is not owned or operated by any single institution or government.
All Bitcoin Cash transactions are recorded on the blockchain (a kind of public ledger), with new coins entering the supply through miners who are rewarded with them for adding the next block to the chain.
The Bitcoin Cash car is driven by the ‘proof-of-work’ consensus mechanism, the same one that drives the Bitcoin protocol. Bitcoin Cash miners operate computers to solve mathematical puzzles to keep the blockchain running.
Bitcoin Cash is a pseudonymous cryptocurrency, with the entities involved in a transaction represented by strings of numbers and letters called addresses rather than anything that can lead to them being directly identified.
Bitcoin Cash can be used online just like real money, with users able to do everything from online shopping to playing at casinos with it.
Bitcoin Cash can also easily be exchanges for fiat currency at a large number of online cryptocurrency exchanges.
Benefits of Bitcoin Cash betting
A big part of Bitcoin Cash’s attraction is the pseudonymous nature of the transactions.
When gambling with Bitcoin Cash, all a player shares is the address of their Bitcoin Cash wallet (that string of letters and numbers) rather than any personal information.
Most countries don’t consider digital assets like Bitcoin Cash to be a currency, which means countries that prohibit gambling with fiat currencies may not prohibit Bitcoin Cash gambling.
This opens the gateway to dozens of different Bitcoin Cash casinos and games for players, massively increasing user choice and improving the overall crypto gambling experience.
Bitcoin Cash is a completely decentralized cryptocurrency, which means players can enjoy privacy as they interact with their platform of choice.
Bitcoin Cash has the same block time as Bitcoin, meaning that deposits take up to 10 minutes to hit the network – from that point it depends how many ‘confirmations’ the chosen Bitcoin Cash casino prefers.
The number of confirmations a deposit requires depends on the security of the blockchain in question – crypto casinos will want to make sure that any coins sent through blockchains with poor security are guaranteed to arrive before they credit the user.
Some crypto casinos have 0 confirmation times on Bitcoin Cash deposits, which means the moment the deposit hits the network the player is credited.
Gambling with Bitcoin Cash can also save you money.
Transactions fees are about 1/10th those of Bitcoin, around $0.20 at quiet times, while wins can be converted to cash without the involvement of a bank or payment processor.
This negates transaction fees and, again, means that the player can transact in privacy.
Bitcoin Cash casinos also almost always have bigger welcome bonuses than fiat casinos, with multiple Bitcoin Cash coins often available to players as opposed to the limits that are placed on fiat casinos.
This is another example of the increased freedom that crypto casinos are able to afford their users.
Drawbacks to gambling with Bitcoin Cash
There is really only one drawback when it comes to gambling with Bitcoin Cash, and that is the speed of transactions compared to other cryptocurrencies.
While each Bitcoin Cash casino will have its own rules on confirmation requirements, some of the more popular ones require upwards of 15 Bitcoin Cash confirmations, around 3x those of Bitcoin. This means it can take over two hours for your deposit to be credited to you.
This puts Bitcoin Cash at a disadvantage when it comes to microtransactions too, although many will be put off by the transaction fees anyway – while $0.20 isn’t expensive, this could be more than the actual stake. Plus, the cost increases at busy times.
If you tend to bet bigger and don’t deposit all that often, then Bitcoin Cash could be the ideal solution for you.
What are Bitcoin Cash slots?
In many ways Bitcoin Cash slots are like the regular online crypto slots, except stakes and wins are made in Bitcoin Cash.
Those playing Bitcoin Cash slots will not see many differences from other crypto and non-crypto slots, with the games, the odds, and the playability being the same, with the only major differences being that Bitcoin Cash slots have higher limits than fiat slots.
Added to this is the benefit of knowing that players can, at any time, transfer their Bitcoin Cash back into their local currency and withdraw it.
Make sure that you’re playing slots at the best Bitcoin Cash gambling sites!
What are Bitcoin Cash table games?
As with Bitcoin Cash slots, there are a large number of similarities between Bitcoin Cash table games and regular casino table games.
All the favorites are there – Texas hold ‘em, baccarat, and poker, for example – and with the benefits of betting with Bitcoin Cash, including increased privacy, bigger limits, and low transaction costs, players can have an even more enjoyable experience.
The best Bitcoin Cash casinos also have top quality live action table games, with real croupiers keeping the action coming.
Where can I buy Bitcoin Cash
Buying Bitcoin Cash has never been easier.
There are a number of quality cryptocurrency exchanges online that allow you to buy Bitcoin Cash with a credit or debit card, and once it’s in your wallet you can send your coins to your Bitcoin Cash casino of choice.
However, there are one or two things you should be aware of before you go buying your first coins.
We can’t advise you on which exchange to buy from as there are pros and cons of each, but we would advise you to research what the best exchanges that sell Bitcoin Cash are before you buy, or at least research any you have heard about.
Make sure, too, that whatever exchange you eventually buy from allows you to withdraw the Bitcoin Cash you buy – some don’t, which of course is no good if you want it for Bitcoin Cash gambling!
Be aware, too, that fees will be taken off during the purchasing process, so make sure you know what they are before you press the ‘buy’ button.
These charges are often a fixed fee rather than a percentage, so bear that in mind if you intend to buy more than once.
Some Bitcoin Cash casinos do allow you to buy Bitcoin Cash directly from them, but the fees are often higher when you buy this way, so make sure you do your due diligence before you take the plunge.
Best Bitcoin Cash wallets for gambling
Once you’ve bought your Bitcoin Cash you will want to store it in a wallet.
Leaving your coins on an exchange is not a great idea for security reasons, while some exchanges do not facilitate the sending of Bitcoin Cash to online casinos.
There are lots of wallets that support bitcoin Cash out there but not all of them are reputable, so, again, make sure you do your research before you send your coins in.
There are different types of wallet open to you, each with a different balance of security and convenience – generally speaking, higher security means less convenience.
This guide breaks down the different types of wallets and their benefits and drawbacks, but some good examples to check out are Exodus, Electron Cash, Trezor, and Trustwallet.
The key thing to remember about Bitcoin Cash, like all cryptocurrencies, is that you are your own bank – there is no customer service to call if you send it to the wrong address or it gets stolen from your wallet.
For this reason you should take the sending and storage of your Bitcoin Cash very seriously.
Conclusion
As we have explored, Bitcoin Cash is a great currency for gambling, balancing the benefits of privacy with low transaction costs. However, it’s not the best for microtransactions and it could take a while for your deposits to arrive.
Many Bitcoin Cash casinos have quality games and lots of chances to win big, and with Bitcoin Cash being accepted almost everywhere that Bitcoin is, the options for Bitcoin Cash gambling are only going to grow and improve.