Bitcoin Cash Gambling Sites – Prepaid Deposit Options Using Bitcoin Cash

Bitcoin Cash logoAnother new cryptocurrency has broken off from bitcoin and it looks to solve many of the problems that traditional bitcoin has faced in the past. Most users of the major cryptocurrency exchanges received an email in the later parts of July about how bitcoin was about to split off into two separate blockchains. The blockchains share a mutual history but go off in different directions. The new cryptocurrency is called bitcoin cash and held a healthy amount of skepticism as it was created. The most popular exchanges still don’t trust the market volatility of the new coin but since its release it has more than tripled in value.

In less than a week, the price for bitcoin cash has shot up from hovering around $200 dollars to over $600. Bitcoin cash is being looked at as a new benefit class that has gained around $12 billion in value in the span of a single night. The future looks promising for the new crypto. Its important to point out that while value seems to be soaring at the moment, it still lacks practical uses and is primarily benefitting from the value assigned to it by investors. Always exercise caution when investing in new cryptocurrencies. One it has gained a little more footing, we expect to see it embraced by the ecommerce market, including online gambling sites currently accepting Bitcoin deposits.  If Bitcoin Cash enjoys the same success that Bitcoin has, then it is well on its way to becoming one of the most popular and widely used prepaid gambling deposit methods ever used in the online gambling market.

Top Bitcoin Cash Gambling Sites

Bitcoin cash is less than a month old at this point so most online gambling operators haven’t yet set up the infrastructure required to accept payments with it. Despite the fact that it’s so new, we anticipate that it will land on the online gambling industry hard. With the value skyrocketing the way that it is, we can only imagine that it will be only a matter of weeks before the online gambling operators have no choice but to start offering options to use bitcoin cash tokens for deposit and withdrawal for their customers. The following destinations already accept Bitcoin as a prepaid deposit method, so we anticipate they will be first on board to accept Bitcoin Cash as well.  Once Bitcoin Cash is also offered, we will reflect the participating online gambling merchants here.

Alternatively anyone holding bitcoin cash can use an exchange service like shapeshift.io to convert bcc into btc. That will open up a wide range of bitcoin friendly sites to you.

Bovada Now Accepts Bitcoin

Casinos That Accept Bitcoin

Site Name Bonus Rating USA Friendly Visit Site
Bovada Logo $3,000 Bonus 5stars usafriendly Visit Site
Slotslv Logo $5,000 Bonus 5stars usafriendly Visit Site
Cafe Casino Logo $5,000 Bonus 5stars usafriendly Visit Site
Ignition Casino Logo $2,000 Bonus 5stars usafriendly Visit Site

Sportsbooks That Accept Bitcoin

Site Name Bonus Rating USA Friendly Visit Site
Bovada Logo $250 Bonus 5stars usafriendly Visit Site
Betonline Logo $2,500 Bonus 5stars usafriendly Visit Site
Sportsbetingag Logo $1,000 Bonus 5stars usafriendly Visit Site
Bookmaker Logo $300 Bonus 5stars usafriendly Visit Site
Betdsi Logo $300 Bonus 5stars usafriendly Visit Site

Poker Sites That Accept Bitcoin

Site Name Bonus Rating USA Friendly Visit Site
Ignition Casino Logo $2,000 Bonus 5stars usafriendly Visit Site
Betonline Logo $2,500 Bonus 5stars usafriendly Visit Site
Sportsbetting Logo $2,500 Bonus 5stars usafriendly Visit Site

How Does Bitcoin Cash Work?

Bitcoin cash tokens share the same blockchain history as traditional bitcoin and will work the same way in online gambling websites. Each transaction is recorded to a massive public ledger called the blockchain. In the blockchain, the individual parts are called blocks that house all the information between buyer and seller of that particular block. You can sign up to one of the major exchanges and buy as much bitcoin as you want for the price set by the marketplace at that particular time. With bitcoin cash rising at such exponential levels, it would seem that now is the time to invest if you’re willing to take the risk on the new cryptocurrency. You may run into a little trouble finding an exchange that will buy and sell in the new tokens because of how new they are, but after only a little searching they are pretty easy to find.

Once you have found that exchange, you simply buy the tokens and the exchange will store them for you in their wallet systems. This is typically ok if you have smaller amounts of bitcoin cash but it is risky if you dealing in larger amounts of value because exchanges are big targets for hackers and they also reserve the right to close your account at any moment and seize your funds. While they don’t make a habit out of just arbitrarily ending memberships and seizing accounts, its at least worth a mention. There are various eWallets you can find on the Internet that you can transfer your funds to for a more private and safe storage space for your digital funds. That eWallet, no matter where you have decided to sign up, will have a key attached to it that operates as an address to send and receive bitcoin cash. You will use this key when you are making your deposits into bitcoin cash online gambling websites.

Benefits Of Using Bitcoin Cash As Your Primary Prepaid Gambling Deposit Method

Decentralized cryptocurrencies are always great for online gambling because they are instant and easy to use and usually come with no transaction fees. Bitcoin was at the start of the online gambling industry and was instrumental in the first iterations of bonuses and promotions throughout the industry. The digital currencies of both bitcoin and bitcoin cash are not associated with any nation, political machine, or banking conglomerate. That means there is no ominous oversight in place to attach arbitrary fees to the transfer of these finds. That is one of the main benefits of using bitcoin cash in online gambling websites.

The other big benefit is how fast it works in and out of online gambling website systems. The digital nature of the currency means that it can freely travel in and out of online gambling websites instantly and without any hiccups. All of the processing times for both deposits and withdrawals are typically instant, while the time it takes to record to the blockchain is a different matter entirely.

FAQS

What is Bitcoin Cash?

Bitcoin cash is another cryptocurrency that has recently been created from the same blockchain as the original bitcoin. It has been officially categorized as peer-to-peer electronic cash. It functions in much of the same way as traditional bitcoin but runs on its own separate blockchain now that forked off from the original on August 1st, 2017.

If I Own Bitcoin Do I Also Own Bitcoin Cash?

You do. Bitcoin cash was a fork in the blockchain from the original Bitcoin. Both Bitcoin and Bitcoin cash share the same history but will go off in distinctly different directions. This means that you technically own the same amount of Bitcoin cash as you did Bitcoin at the time of the fork. Users that store their bitcoin offline or at third party wallets will have no issues with this, but users who store their bitcoin at exchanges will have to reach out to their exchanges about more information regarding they bitcoin cash they technically own.

What Is The Difference Between Bitcoin And Bitcoin Cash?

Bitcoin is the original cryptocurrency. The first of its kind. In the Bitcoin blockchain, blocks are 1MB in size and can process up to about three transactions per second. Now that Bitcoin has become so popular that transaction time is slowing down the blockchain mainly because of the size of the blocks. After years of debate, there hasn’t been an agreement on Bitcoin itself so a number of developers broke off with their own ideas and created the new crypto, Bitcoin cash. Bitcoin cash’s blocks are 8MB and can complete many more transactions per second because of it. This should effectively eliminate the blockages that the original blockchain has been recently experiencing and allow the new BCC blockchain to process transactions on a wider scale.

Is it legal to use Bitcoin Cash tokens in America to fund online gambling?

Yes, it is. There are no laws in the United States federal government or any of the state governments that would restrict private citizens from using any type of currency they want in any capacity they see fit. Online gambling is heavily regulated in the United States and major credit cards can be challenging to use as withdrawal methods in some cases due to restrictions with banking regulations. This doesn’t apply to bitcoin cash because of the decentralized digital nature of the currency claims no national ownership in any way.

Is it legal for international residents to use Bitcoin Cash in online gambling?

The majority of countries have set no legal boundaries with the use of digital cryptocurrencies, but there are some that have ruled against its use. Mexico, for instance, has passed laws against the use of Bitcoin so it’s fair to assume that they will hold a similar view on all cryptocurrencies. We recommend you check the gambling laws within your country of residence before making any decisions that could impact your legal standing.

What caused Bitcoin Cash’s creation?

It basically all boils down to Bitcoin delays in the blockchain. There has been a scaling issue for some time that has been under rigorous debate in the bitcoin development communities. A block on the original blockchain has only the capacity of 1MB. With bitcoin growing to the market high that it is currently at, processing the thousands of transactions that happen daily has clogged the blockchain and started to lag transactions from posting.

The most popular idea to solve this dilemma before the hard fork was the SegWit program. This takes the heavy load out of the block and adds it to an extra mini-block attached to the original block with all the buyer and seller data in it. This idea didn’t suffice either, only increasing the size of the entire block to 2MB. The developers of bitcoin cash came up with a new idea. They increased the size of the block to 8MB outright and removed SegWit altogether. This required the fork from the old blockchain as it continued to operate in the standard block size. Bitcoin cash now operates in much larger blocks and can handle more transactions at a much faster pace because of it. Now, it’s up to the market to keep the value rising.

Is it safe to use Bitcoin Cash as a prepaid deposit method at online gambling sites?

This is a relative question that depends on context. In the context of online gambling websites, it remains as safe as making transfers in and out of your bank account online. The leading websites in the industry use all of the proper security protocols to keep their transactions safe because their reputations depend on it. Third party review sites will tear them to shreds instantly if a large cyber security scandal breaks out so these brands tend to have anti hacking teams on call and the most sophisticated measures of digital security they can afford. It’s a one way ticket to failure for an online gambling company to let loose with their security profile.

Technically speaking, bitcoin cash is still very new and extremely volatile to the market. This makes it pretty unsafe in a lot of ways to even purchase it. However, basic security in terms of a vulnerability to theft is completely up to the user. Storing large amount of funds at exchanges is always a dangerous idea because exchanges are obvious targets for hackers. Keeping your own private keys and storing your digital currencies in an offline wallet is usually the safest option as it is virtually unhackable.

Additional information about the creation and function of Bitcoin Cash can be found on the Bitcoin Cash official website.