Bitcoin is the most popular cryptocurrency in the world. It launched in 2009 and for a few years, it was the only known digital currency. Eventually, developers launched alternative coins like Ethereum, Litecoin and Bitcoin Cash.

While you can use altcoins to gamble online, Bitcoin is the most supported cryptocurrency at NZ casinos. This is a good thing. Bitcoin is easy to buy. It also attracts some pretty generous casino bonuses.

Unfortunately, Bitcoin can be intimidating to first-time buyers. That’s why in this guide, we’ll give you a step-by-step process on how to gamble with Bitcoin in New Zealand. Let’s dive right in.

Step 1: Find a Trustworthy Bitcoin Casino

Finding a trustworthy Bitcoin casino can be challenging. But it’s a straightforward process once you know what to look for. For starters, choose a licensed casino. Licensing protects you from fraud.

Secondly, check a casino’s security measures. Does it encrypt your data? Can you secure your account using Two-Factor Authentication? After that, look at other important details like games, software providers, bonuses, support for fiat currencies, mobile apps and web design.

If the process of finding a reliable crypto casino sounds too sophisticated, pick the best-rated online casinos. LeoVegas and JackpotCity are good examples of top casinos that accept Bitcoin. Both of these online casinos are highly rated and are two of the best casino sites in New Zealand.

Step 2: Find a Bitcoin Wallet

After you buy Bitcoin, you’ll need to store it in a secure crypto wallet. Many exchanges provide a free wallet. But there’s a catch. They keep the keys used to provide proof you own your Bitcoin.

This means if you store your BTC at an exchange, and it goes under the way FTX.com did, you could lose your coins. The best way to keep cryptocurrencies is through a safe wallet.

Crypto wallets can be categorized into two:

• Hot Wallets
• Cold Wallets

Hot crypto wallets store your crypto online for easy access. They’re usually free and straightforward. But they’re less secure when compared to cold wallets. If you’re buying a small amount of BTC for gambling, there’s no harm in storing your coins in a hot wallet like Coinbase, Trust Wallet, Exodus or the Crypto.com defi wallet.

If you plan to invest big in crypto, buy a cold wallet like the Ledger Nano S or Trezor. Both of these wallets are ranked highly security-wise.

Step 3: Buy Bitcoin and Deposit to Your Casino

Now that you have a crypto casino and a crypto wallet, the next step is to buy Bitcoins. In New Zealand, you have countless options to buy crypto. Below are a few of the leading crypto exchanges:

• Swyftx
• Binance
• com
• Easy Crypto
• Independent Reserve

Buying Bitcoin at the websites mentioned above takes less than 20 minutes. First, you need to create an account. Next, link your credit/debit card and make a purchase.

On Binance and a few more sites, you can buy crypto directly from other people. Binance acts as an intermediary to ensure the process is safe. That said, crypto exchanges might ask for identity verification if you’re planning to buy a lot of Bitcoin. Usually, they ask for a selfie picture, your ID or passport.

After you buy Bitcoin, transfer it to the wallet you have already installed. As already mentioned, some crypto exchanges also give you a free wallet. You can transfer your Bitcoins from this wallet to your casino account. However, transfer any unused amount of crypto to your preferred third-party wallet.

Step 4: Accept the Welcome Bonus

The best crypto casinos in New Zealand give out bonuses to new customers. These bonuses are usually a 100% match of your first deposit. If you deposit 0.2BTC, you’ll receive a bonus worth the same amount.

Bonuses are great in that they boost your account balance. And by giving you more money to spend, they can help cushion your losses and maximize your profits.

Now, most casinos have rules you must follow if you want to convert your bonus into actual cash. The first rule is that you must play certain games. Always find bonuses that give you the freedom to play all your favourite slots and table games.

Another important rule is called wager requirements. It dictates that you must rollover your bonus amount 10x to 40x. Find bonuses with a manageable rollover amount. Other conditions to keep in mind include withdrawal limit and validity time.

If you’re planning to play at the same casino for a while, ensure it has loyalty bonuses. Look out for promotions like cashback, VIP points, cash tournaments and reload bonuses.

Step 5: Play Your Favorite Casino Games

Bitcoin casinos come in two types. Some of them support games built using Blockchain technology. The majority of crypto casinos provide conventional slots and card games.

In other words, they support games from popular software providers like NetEnt, Microgaming, Blueprint, Evolution and BTG. Most of these casinos also support fiat payment options like Visa, MasterCard, PayPal, GPay and wire transfers.

Casinos that support traditional games usually provide a means to exchange your crypto for fiat currencies like NZ dollars. Or they have an in-house token coin that makes it possible to gamble standard slots and table games.

Play top-rated games to maximize your chances of winning. These games also offer the best experiences. Some of them have bonus rounds that increase your playtime. They also feature symbols that increase your chances of winning real money.

Step 6: Withdraw your Winnings

The final step is everyone’s favourite. You took a chance at playing casino games. Maybe you were just interested in having a bit of fun. Luckily, you won some money.

Now you’re excited to cash it out so that you can spend it on something else. How should you go about it? At most casinos, withdrawing money is straightforward. They give you the option to withdraw funds you have in your account.

They have a few rules, though. For example, there’s a daily maximum withdrawal limit. Some of them also say you must use the same payment option you used for deposits. If you deposited using Bitcoin, you can’t withdraw your winnings via PayPal or a credit card.