Though Bitcoin is not legitimately used in New Zealand you can buy it from traders for a marked-up price. Also, there is a Bitcoin ATM in a bar in Auckland and Dunedin but that hasn’t caught on as there are fewer users of BTC (Bitcoins).
Is it legal to play at casinos with Bitcoin?
Bitcoin or cryptocurrency as it’s called is legal in New Zealand, but operating online casino gambling sites within the country is not. The 2003 Gambling Act states that all forms of remote interactive gambling are illegal, but the law explicitly states that the ban on gambling does not include gambling by a person in New Zealand conducted by a gambling operator located outside New Zealand.
This means that it is perfectly legal for punters in New Zealand to play on any international online casino sites available to them. Therefore Kiwis can use Bitcoins at offshore online casinos with no problem.
What you should take care of when using casinos with Bitcoin?
Before signing up at casinos with Bitcoin you should take care of certain things, especially now that online casinos with Bitcoin are becoming increasingly competitive and more online casinos in NZ are accepting the digital currency.
- The online casinos with Bitcoin should be licensed and regulated by gambling commission
- In terms of safety, you should also check whether the casino that you’re considering has a provably fair system, and/or uses games from reputable traditional casinos. For those who do not know, a provably fair system uses cryptographic techniques to determine the authenticity of a roll and ensure that neither the game nor the player knows the outcome of a roll before the bet.
- Casinos with Bitcoin should offer great promotional offers and BTC bonuses.
- The gameplay and interface should be user-friendly and can be played with various devices like smartphones and tablets.
- You should know that you need to buy BTC and find the easiest way to procure the valued cryptocurrency as opposed to mining it yourself. You must create a ‘wallet address’ with the most popular Bitcoin software offering the service. Once you’ve located your ‘bitcoin address’, you must choose a bitcoin exchange or bitcoin trade market to use.
- Once you’ve selected and signed up for an exchange, you can begin transferring money to your exchange bank account. Once the money is deposited, you can choose to ‘Buy’ or ‘Trade’ the bitcoins, The pricing will always vary depending on supply and demand. Once the bitcoins are purchased, you can transfer your bitcoins from the Bitcoin exchange to your wallets.
You can buy BTC in NZ dollars here or get the best prices to buy BTC by clicking here
How to store Bitcoins?
Bitcoins can be stored in two ways: software using a cloud or software you download. Among these two forms of storage exists a wealth of services dedicated to depositing and withdrawing bitcoins, specifically to and from online gambling sites.
So those hoping to use Bitcoin while gambling won’t be limited to just one deposit or cashout option.
Software like BlockChain or GreenAddress store them in a cloud, in a similar way to PayPal or Neteller and are considered the most popular forms of Bitcoin storage. Software like Electrum or Darkwallet is downloaded onto your computer, and the coins are stored on your hard drive. This software tends to be more secure.
Although you can’t use a bank account, credit card or cheque, avoiding the conventional banking system means transactions are faster. Using conventional currency, cashouts can take days, and cheque deposits up to a week. Bitcoin transactions are usually completed within minutes.
Also, visit where Kiwis exchange Bitcoin into NZ dollars
Casinos with Bitcoin have no transaction costs. All transfers are peer-to-peer, so there are no middlemen to pay.
Multi-currency casinos often make charges to deposit or withdraw using a credit card, and the providers themselves may have fees. The same can be true for e-wallets and banks.
The advantages of playing at Casinos with Bitcoin
- You can make deposits and withdraw anonymously
- There is no need for third parties or middlemen
- You can play with lower credits or amounts at online casinos
- The deposits and withdrawals are faster than other currency
- When making cashouts there is no need for any ID proof.
- Get 24.7 friendly support
- Also avail BTC bonuses of various kinds
Many New Zealand-friendly online casinos with Bitcoin have started accepting Bitcoins. The few reputed ones are what we have tested here and brought for you to enjoy pokies in various cryptocurrencies.