Home/
Bitcoin Cash

Top Bitcoin Cash Casinos 2022 – NZ Casinos That Accept Bitcoin Cash

The rapid growth of cryptocurrencies, and Bitcoin Cash by extension, is exceptional. The digital currency may not have the same publicity as FIAT currencies, but it is an undeniable phenomenon transforming the online gambling experience. The fashion money spells significant upsides for players and casino operators. Its decentralized nature means it is acceptable worldwide, offering punters access to gambling dens inaccessible with NZD and casinos new markets to captivate. BCH’s anonymity ensures that personal information is never shared with online casinos, reducing security risks. Perhaps the cryptocurrency’s most appealing quality is how it places the banking power in users’ hands, eliminating third-party risks like bank and government policies.

By Frank

21 April 2024 5 min read

💳 Bitcoin Cash Review

Bitcoin Cash is a cryptocurrency that exists on the same blockchain as Bitcoin. The coin is a hard fork of the BTC blockchain launched in 2017 after a proposed alteration of rules to allow Bitcoin to process more transactions per second. While most nodes voted against the change, it fractured the blockchain, allowing miners to invest their efforts into a new currency and determine its fair price. Bitcoin remains the more popular currency of the two, but Bitcoin Cash has also established itself as a strong contender in the crypto world.

👍 How Bitcoin Cash Works

In cryptocurrency lingo, blocks are transaction groups added to the blockchain simultaneously. Bitcoin uses blocks of up to 1 megabyte (MB), limiting them to seven transactions per second. When it was first launched, Bitcoin Cash expanded the block size to 8 MB before increasing to 32 MB, supporting over 100 transactions per second.

Beyond transaction speed and block size, Bitcoin Cash is similar to Bitcoin in almost every way. It operates as an open-source, decentralized digital ledger, and the maximum number of its coins that can exist is 21 million. The cryptocurrency comes into existence through mining, accomplished by solving cryptographic equations to process transactions, and BCH coins are awarded as a reward for work done.

💻 Opening an Account with Bitcoin Cash

Bitcoin Cash is a currency like NZD, which can be held free of account registration. However, an online wallet is necessary to store the coins. Numerous websites deal in the sale of such wallets, including;

Edge
Bitpay
Electron Cash
com
Trezor
Keep Key
BRD
CoinBase
Mobi
Jaxx

After purchase, players are awarded a unique address inaccessible to any third parties on or off the network.

🪙 Depositing with Bitcoin Cash

Bitcoin Cash may not operate like regular currencies, but depositing into casinos with it is pretty straightforward. Like typical gambling dens, not all Bitcoin Cash casinos are created equal. Therefore, ensure to confirm the legitimacy, transparency, usability, mobile affinity, and BCH support of a gaming site before settling on it and proceed like so:

Make an account by clicking on the signup prompt and entering the requested information
Choose to deposit in the cashier section from the homepage or payments tab
Select BCH as the payment method to use, which will prompt the casino to provide a blockchain address
Log into your wallet, enter the amount to transfer, and the casino crypto wallet address

In most cases, casinos do not apply limits to Bitcoin Cash. However, they can be placed when claiming bonuses and promotions.

🧾 Withdrawing with Bitcoin Cash

Once winnings are accrued, they can be withdrawn in the same cashier section used to deposit. Enter the amount to cash out after choosing BCH as the channel to use. The recipient address is usually requested the first time and often auto-fills during subsequent transfers.

💲 Transaction Speeds with Bitcoin Cash

The decentralized nature of Bitcoin Cash allows it to process funds in real-time once they are authorized. The blockchain eliminates third parties like banks and credit card companies that apply processing periods. Even so, casinos can have a pending period during which they check the legitimacy of the requested funds, lasting between 12 and 72 hours.

Request	Processing Speed
Deposit	Instant
Withdrawal	Instant

Transaction Charges

Bitcoin Cash applies transaction fees of less than a penny, even for the largest of transactions. Merchant processors have unique levies for wallets and conversions, but they are usually significantly less than regular currencies.

✔️ Upsides of Bitcoin Cash

Bitcoin Cash may be a new concept compared to regular currencies, but it empowers punters and casinos alike in many ways, including;

Accessible 24/7 anywhere in the world as long as one has internet connectivity – numerous websites deal with the sale and storage of BCH, and they conduct conversions instantly at close-to-nothing fees
BCH’s use of larger blocks supports a blockchain with more scalability, resulting in more transactions per second and at lower fees
Transactions made using Bitcoin Cash do not reveal personal information like the wallet owner. The casino is provided with only the address that sends and receives the funds.
BCH gives users complete control of their funds without involving third parties like banks and governments. The currency uses several redundant transaction database copies, making it impossible for institutions to hold, freeze, or seize the money.
Bitcoin Cash inflation and devaluation are controlled by limiting supply to a fixed figure (21 million)
This crypto eliminates the unfair manipulation of transactions’ verifications by adding a public address to each transfer and attaching it to a distribution ledger open to view by permissioned users
BCH has heavy-duty encryption across its network, making it impossible for fraudsters to use or change accounts they stumble across. Also, information is spread across a vast computer network instead of being stored on a single server.
Typical Bitcoin Cash transactions cost less than a penny, and conversions through merchant processors cost much less than credit card processing.
BCH has fraud protection built into its system, eliminating automatic voids for chargebacks, refunds, or unexpected fees

❌ Downsides of Bitcoin Cash

Bitcoin Cash is a significant player in achieving a bright future of unrestricted financial growth, permissionless innovation, global reach, and decentralized development. However, it does have several drawbacks that have yet to be ironed out, including;

Its relatively low adoption rate limits its growth as an accepted investment and medium of exchange. It is far easier to find casinos supporting FIAT currencies like NZD than those accepting BCH.
While Bitcoin Cash offers more security than regular currencies, it is less secure than Bitcoin due to its lower cost and lesser mining power required to verify new blocks
BCH is marred with branding trouble as a hard fork of Bitcoin, which is far more popular with the masses.
Mining Bitcoin Cash uses a blockchain proof of work system, which uses considerable energy and has a severe impact on the environment
BCH has a long way to go to catch up with Visa, which processes 2,000 transactions per second

Frequently Asked Questions

What is Bitcoin Cash?: Bitcoin Cash is an open-source, decentralized digital ledger that functions as Peer-to-Peer Electronic Cash. This currency is purely online with no physical form and runs on blockchain technology.
What is great about Bitcoin Cash?: Bitcoin Cash is ideal because it is a trustless currency; this is not because users do not trust each other but because they do not need to. While FIAT currencies are open to seizing and control by banks, BCH allows users complete control over their funds. Also, it increases privacy and operates anonymously by not revealing who controls the Bitcoin addresses used to send and receive funds. Finally, the crypto’s users enjoy exclusive discounts, a token ecosystem, and worldwide support.
How do I purchase and store Bitcoin Cash?: Bitcoin Cash can be purchased through a digital asset exchange and paid for using FIAT currencies or other cryptos like Bitcoin and Litecoin. By the time of purchase, ensure you have an online wallet where the bought coins can be stored. Electron Cash, Bitcoin.com, Edge, Coinbase, and Trezor are popular wallet options.
Can I use Bitcoin Cash to play for real money in casinos?: Yes, you can. Since Bitcoin Cash is one of the more popular digital currencies, many casinos that support cryptos accept it as a mode of payment. The funds can be converted into FIAT currencies for some games and remain in their crypto form for others.
Can I claim casino bonuses and promotions using Bitcoin Cash?: The availability of bonuses when using Bitcoin Cash varies depending on the casino. Some gambling dens have separate incentives for crypto and FIAT currency users, while others leave them open to claim with any money type. In others, cryptocurrencies are locked out of claiming rewards altogether. It’s advisable to check the attached terms and conditions to confirm the bonus status.
Do any charges apply for making Bitcoin Cash transactions?: Yes, they do, but they are typically less than a penny. Merchant processors usually apply levies when converting BCH to regular currencies, but they are much lower than credit card processing.

Final Remarks on Bitcoin Cash

While FIAT currencies still win the popularity contest in online casinos, cryptocurrencies like Bitcoin Cash are quickly catching up. BCH sets the stage for a promising online ecosystem in the near future, where online gambling is resistant to social and political attacks on protocol development. Unlike FIAT currencies, BCH users can enjoy worldwide support, ultra-low fees, anonymity, and total control over funds without third-party interference.