Trusted Bitcoin Casinos in Cyprus
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FAQ's
What is Bitcoin?
Bitcoin (BTC) is a digital currency that is used to store, send and receive value. It was the first cryptocurrency to be invented, and is still one of the most popular and widely used. Bitcoin transactions are recorded on a public ledger known as the blockchain, which also serves as Bitcoin's security system. The decentralised nature of Bitcoin means that it is not owned by any individual or government entity, making it an attractive and secure online payment method for many people.
Can I use Bitcoin to gamble?
Yes. Bitcoin is a popular payment method used at many online casinos around the world, including in Cyprus. Its decentralised nature and anonymity make it a secure and reliable payment method for players in the country. You simply need to open a Bitcoin wallet, purchase some Bitcoin and then transfer it to the online casino. You’ll then be able to deposit and withdraw funds from your Bitcoin wallet with ease at the casino.
Is it legal to use Bitcoin for gambling in Cyprus?
Yes. Using Bitcoin to gamble online is perfectly legal in Cyprus, however it is advisable that you confirm with local gambling authorities if this is the case.
Are there any fees associated with using Bitcoin?
Yes, there are some small fees associated with using Bitcoin. Every time you want to make a Bitcoin payment, you will incur a small processing fee. This is usually no more than 1% of the total transaction amount and is taken from your Bitcoin wallet.
How quickly do Bitcoin deposits show up in my online casino wallet?
Once a Bitcoin transaction is confirmed on the blockchain, it usually takes just a few minutes for the funds to appear in your online casino wallet. This makes it one of the fastest payment methods available.
How safe is Bitcoin for gambling?
As Bitcoin is a decentralised digital currency, it is incredibly secure. Unlike conventional payment methods, with Bitcoin you do not have to give up any personal details, which makes it a safe and anonymous way to gamble online. Additionally, transactions on the blockchain are extremely secure and are extremely difficult to alter or tamper with.
Can I withdraw winnings using Bitcoin?
Yes, you can. Bitcoin is accepted by many online casinos as a withdrawal method, allowing you to quickly and securely make withdrawals from the casino with ease.