Bitcoin Cash Gambling Sites – Prepaid Deposit Options Using Bitcoin Cash

Bitcoin Cash logoA new blockchain recently emerged, splitting off from Bitcoin, and the new cryptocurrency is called Bitcoin Cash. The new cryptocurrency held a healthy amount of skepticism as it was created, and while the value seems to be doing well, it lacks practical uses and is primarily benefitting from the value assigned to it by investors.

Always exercise caution when investing in new cryptocurrencies, and once 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 the new digital currency mirrors the success of the original blockchain, 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 a newer cryptocurrency and most online gambling operators haven’t yet set up the infrastructure required to accept payments with it. We anticipate the demand to continue to grow, making online gambling operators offer options to use its 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 offered, we will reflect the participating online gambling merchants here.

In addition, anyone holding Bitcoin Cash can use an exchange service, like shapeshift.io, to convert BCC into BTC and will open a wide range of crypto-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 $500 Bonus 5stars usafriendly Visit Site
Betonline Logo $1,000 Bonus 5stars usafriendly Visit Site
Sportsbetingag Logo $1,000 Bonus 5stars usafriendly Visit Site
Bookmaker 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 now-massive public ledger known as the blockchain. In the blockchain, individual transactions are called blocks, which keeps all the information between buyer and seller of that block’s transaction.

To purchase the new digital currency, you simply buy the tokens at market price and the exchange you choose will store them for you in their wallet systems. There are various digital wallets you can find on the Internet where you can transfer your digital funds safely and anonymously. The wallet will have a key attached to it, which operates as an address to send and receive Bitcoin Cash. You will use this key when you are making your deposits to and withdraws from online gambling websites.

How to Deposit Bitcoin Cash into Your Online Gambling Account

Decentralized cryptocurrencies are great for online gambling because they are instant and easy to use and depending on the gambling site you choose, usually, come with no transaction fees. Depositing funds in your online gambling account is as simple as transferring funds to your digital wallet and entering your wallet information into your account then determine the amount to you want to deposit.

How to Make a Withdrawal with Bitcoin Cash

Withdrawing your payout is just as easy as depositing your initial amount – only vice versa. Once you decide to withdraw your winnings, allow the gambling site to transfer your payout to your digital wallet. Once the payout is transferred to your wallet, then wire transfer the Bitcoin Cash to your bank account, converting to the currency of your country in the process.

Positives of Using Bitcoin Cash at Online Gambling Sites

  • It keeps the user anonymous and uses only a digital signature to record the transaction and the wallet.
  • Deposits and withdraws are done instantly, making it and other cryptocurrencies the fastest way to receive payouts.
  • There are no fees for using cryptocurrency at most offshore gambling sites, since the gambling site does not have to use a third-party company to process your transaction.
  • The crypto’s public ledger acts as third-party that would normally need to process the transaction, so bettors do not need to enter credit card information at the offshore gambling site.

Negatives of Using Bitcoin Cash at Online Gambling Sites

  • Using it requires users to be knowledgeable of cryptocurrencies to avoid user errors.
  • Like the original, the value of Bitcoin Cash fluctuates, which requires an immediate transfer to the gambling site to avoid losing value of the deposit.
  • As with depositing, withdrawing winnings from a gambling site requires the immediate transfer of funds to your bank account to avoid losing any value of payouts due to the worth of cryptocurrencies changing regularly.

FAQs

What is Bitcoin Cash?

Bitcoin Cash is a cryptocurrency split from the same blockchain as the original. 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 since being 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 digital currency. Both share the same history but will go off in distinctly different directions. This means you own the same amount of both at the time of the fork. Users storing their Bitcoin offline or at third party wallets will have no issues, but users who store their bitcoin at exchanges will have to reach out to their exchanges about more information regarding the Bitcoin Cash they could own.

What Is the Difference Between Bitcoin and Bitcoin Cash?

Bitcoin is the original cryptocurrency and was the first of its kind. In its blockchain, blocks are 1MB in size and can process up to about three transactions per second. Now, with it becoming more popular, transaction time is slowing down the blockchain mainly because of the size of the blocks.

Bitcoin Cash’s blocks are 8MB and can complete many more transactions per second because of it. This should effectively eliminate the blockages the original blockchain has been recently experiencing and allow the new crypto’s blockchain to process transactions on a wider scale.

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

Yes. 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 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?

Most countries have set no legal boundaries with the use of digital cryptocurrencies, but there are some countries ruling ruled against its use. Mexico, for instance, has passed laws against the use of Bitcoin, so they will likely hold a similar view on all future cryptocurrencies. We recommend you check the gambling and cryptocurrency laws within your country before using cryptocurrency to gamble online.

What caused Bitcoin Cash’s creation?

Due to a scaling issue with the original Bitcoin blockchain, cryptocurrency developers debated how speed up the blockchain. A block on the original blockchain has only the capacity of 1MB. With it becoming more popular, processing the myriad of transactions happening daily clogged the blockchain and transactions began to lag as a result.

To solve this, the developers created “Bitcoin Cash” by making a new blockchain, increasing the size of the block to 8MB, and forking from the original blockchain. This new cryptocurrency now operates in much larger blocks and can handle more transactions at a much faster pace.

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 gambling websites in the industry use all the proper security protocols to keep their transactions safe because their reputations depend on it. Just keep in mind the value of cryptocurrencies changes regularly, so if you want to deposit the Bitcoin Cash amount equal to the currency of your country then it’s best to deposit immediately following the transfer of money from your bank to your digital wallet.

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