Bitcoin is a cryptocurrency that is becoming more and more popular in Singapore online casinos. You can use this virtual currency instead of regular currencies, making your online transactions fast, safe, and secure. In Singapore, many casinos are optimized for Bitcoin deposits and withdrawals.
The number of crypto casinos where you can play from Singapore is growing at a huge pace, which is why we decided to tell you a little more about them.
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Singapore Bitcoin Casino Mechanics
Bitcoin is very easy to use, but it is still not as commonly used as regular currencies in many countries. However, this is changing. The number of sites where you can make and receive Bitcoin payments online is increasing every day.
Whereas regular currencies are regulated via centralized authorities (i.e., banks), cryptocurrencies rely on peer-to-peer networks – that’s why more and more people are trusting crypto to make and receive payments securely online without the risk of their personal details being compromised.
It is a piece of cake to make secure payments using Bitcoin. You can use your mobile device to make or receive payments on the dedicated app. Simply use your device to scan the QR code of the payment you wish to make, or display your own QR code in your wallet for the other party to scan in order to pay you. If you want to make a deposit in SG casino using BTC, for example, you don’t need a card, a pin number, or an account number – which is good, because all these things could potentially be accessed by hackers.
Using Bitcoin to play at online casinos helps keep your personal and financial information safe. All transactions are totally anonymous because there is no identifying personal information involved. On the other hand, If you pay directly from your bank account all the personal information associated with your account is potentially available to hackers.
All Bitcoin transactions are protected by high levels of digital encryption. The security of Bitcoin and other cryptocurrency transactions is the main reason for the rapidly increasing popularity of Singapore crypto gambling.
An added bonus is that, because Bitcoin does not rely on a central authority, you never have to wait for your transaction to be processed because the bank is closed.
Even with online banking services, sending or receiving international payments usually takes a while, and has additional fees. Not with Bitcoin! International payments are just as quick and easy as any other payments, and just as cheap.
Receiving Bitcoins into your account is absolutely free! Spending Bitcoins is not free, but the charges are reasonable. Quite often, in terms of which wallet you use, you can choose to pay a higher or lower fee, depending on how fast you need your transaction to be confirmed. Moreover, transaction fees are not related to the amount of money transferred, which means you will never have to pay a higher fee if you need to receive or pay a large sum.
Is online crypto gambling legal in Singapore?
Singapore’s gambling and betting regulations are quite strict: some types of online crypto gambling are legal in Singapore, but there are also many types that are not legal.
To be legal, all types of gambling and betting must take place at one of the country’s two licensed casinos, Marina Bay Sands and Resorts World Sentosa Integrated Resorts. All online gambling or betting services offered by licensed gaming service providers, such as Singapore Pools, are legal. However, it is illegal to play at any bitcoin casino Singapore that authorities have not approved.
How to play online casino in Singapore using Bitcoin
If you want to start using Bitcoin to play at one of the Singapore casinos that accept Bitcoin, the first thing you need to do is create a wallet. Popular providers include Bitfinex, Bitstamp, and Coinbase, but there are also many others.
Once you have created your wallet, you need to put some funds in it. You can link your Bitcoin wallet to your bank account to transfer funds directly, or withdraw any funds you may have in your online casino account.
Now you are ready to use your Bitcoin balance to play online. You’ll need to sign up or register with any Singapore bitcoin casino, look for the cashier or banking menu, and enter the address of your e-wallet. This will enable you to play the online casino game of your choice.
What crypto games are available in Singapore online casinos?
Any crypto casino Singapore offers players to use Bitcoin to play slots, table games, live games, and others such as crash games. If you find a licensed SG Bitcoin casino you will be able to use that crypto to play all the games available. At solid online platforms all of the games will be powered by reputable developers.
Most online casinos offer a good selection of slots games and jackpot slots games. At nearly every online casino the lion’s share of the titles will be slots. There are classic ones with few features and paylines to more complex ones with many features and paylines. The range of high-quality slot games available from all the top software providers these days really is spectacular.
Again, most Singapore online casinos offer the option of paying Bitcoin to play the different table games such as roulette, blackjack, baccarat, and poker. Nearly every casino will offer the classic versions of these games but most will also offer exciting variations of the games as well such as Lightning Roulette, Spanish 21, baccarat chemin de fer, and three card poker.
Live games are played with a real dealer or croupier, where you stream the live action for a more immersive gaming experience. You can chat with the dealer or croupier and, often, you can also chat with other players. Typically at live casinos, they will offer table game and variations of them as well as other titles such as game shows.
Other games that are also prevalent at online casinos include video poker, lottery games, bingo, keno, and scratch cards. There are also quite a few games that are specific for Bitcoin, such as crash games and dice games.
Advantages and disadvantages of Singapore Bitcoin casinos
There are several advantages when you decide to play in Singapore casinos with crypto. There are a few disadvantages as well, but not enough to outweigh the pros.
One advantage of playing at crypto casinos in SG is their provably fair technology, as they use random number generators (RNGs) to ensure all results of games are random. Another is that by using the crypto you are not revealing any personal and financial information to the platform, as the transaction is anonymous. Also, crypto transaction times are much faster than with other currencies and if there are any fees for deposits and withdrawals they are much lower than using other fiat options.
Bitcoin is less widely accepted as a deposit and withdrawal currency than normal currencies, like dollars or euros. Moreover, if you want to play in Singapore casinos with crypto, there will be some games, and some venues, that you won’t be able to enjoy.
Another drawback of using Bitcoin only is that this currency is highly volatile. If you purchase quite a large quantity of Bitcoin, and the value of the coins drops soon afterward, they will be worth a lot less than you expected. Of course, the opposite also applies: you might buy your Bitcoin at a low price, and the value of them may increase.
The process of bitcoin wallet creation for online gambling in Singapore
In Singapore you can purchase Bitcoins from different vendors, you can store them in different e-wallets, and you can use them in different ways – but you’ll need to follow these same 3 basic steps:
- Set up an e-wallet linked to your bank account. This will enable you to buy Bitcoin and receive deposits. The e-wallet options preferred by online gamblers in 2023 are Blockstream, Electrum, and BRD.
- Purchase Bitcoin to put in your wallet. There are many places where you can purchase the virtual currency, such as buybitcoin.com.
- Make a deposit at an online casino that accepts Bitcoin, make a deposit, and start to play!
Frequently Asked Questions about Singapore Bitcoin casinos