Best Crypto Casinos That Accept Bitcoin Cash (2022)
While Bitcoin is certainly the most popular crypto in existence, Bitcoin Cash has become a forerunner for day-to-day transactions in recent years. It is no wonder then that BCH has become a popular payment method for many iGaming websites and providers.
In this article, we will look at the best crypto casinos that accept Bitcoin Cash. We will also look at how this cryptocurrency works, where it started, and what you should know about it if you choose to use it when you gamble online.
History of Bitcoin Cash
Bitcoin Cash began in 2017 after an upgrade to the Bitcoin system (Segregated Witness or Segwit) was initiated. This upgrade, which the Bitcoin community continuously argued about, created what is known as a hard fork in the Bitcoin currency-birthing Bitcoin Cash.
The newest currency, Bitcoin Cash, was created as an altcoin to Bitcoin and has its own blockchain-the public ledger that handles all transactions-and its own defined rules for how this blockchain operates.
How Bitcoin Cash Works
Bitcoin Cash works in almost the same way that Bitcoin operates. New coins are generated (or mined) when members of the blockchain use their PC’s processing power to complete blocks that are added to the blockchain.
These blocks contain transactions that have taken place during the formation of that particular block. As with Bitcoin, these blocks also require proof-of-work before they are accepted into the blockchain.
Once a block is added, all transactions are confirmed. However, while this is exactly how Bitcoin works as well, the blocks are what cause the main difference between Bitcoin and Bitcoin Cash. These blocks are also the reason that Bitcoin Cash came into existence.
Bitcoin Cash was started to allow larger block sizes (up to 32MB per block) in the blockchain. This means that more transactions can be processed per block-resulting in quicker verification times for transactions.
Like BTC, BCH completes blocks on average every 10 minutes. However, because the number of transactions in each block is significantly higher, this results in transactions being verified quicker rather than waiting for an available block before being added to the blockchain.
The idea behind these faster transaction times (which eventually led to the creation of BCH) was that Bitcoin Cash was to be more of a transactional currency. This means that it can more easily be used for day-to-day transactions rather than investments or hoarding.
Bitcoin Cash Fees
Bitcoin Cash service fees are significantly lower than those of Bitcoin. This is because transactions are processed so quickly and because each block of the blockchain can hold many more transactions than traditional BTC.
The highest service fee for BCH on record occurred toward the end of 2017 and was listed at just under US $1 (versus the US $2 average for BTC). However, this is an exception for Bitcoin Cash-whose fees are much lower than this on average.
When transacting normally, service fees for BCH are estimated at around US $0.10 per transaction-making it one of the cheapest transaction fees for any crypto.
This fee is automatically added or subtracted to your transaction when it enters the blockchain. The fee is then paid to the miner that has processed your transaction on the ledger.
Bitcoin Cash Wallet Requirements
Like with most crypto, there is no specific wallet that has to be used to store or transact with your Bitcoin Cash. However, some recommendations have been commonly accepted should you deal with BCH.
The first is to make use of mobile wallets. These can be loaded onto your smartphone and carried around with you. While less secure than other crypto wallets, mobile wallets allow much easier transactions while you are out and about-which is one of the main aims of BCH.
That being said, it is not recommended to keep large amounts of Bitcoin Cash in a mobile wallet. Instead, large amounts should be stored in normal crypto wallets, cold storage, hardware wallets, or paper wallets.
Only the amount that you are planning to use in the immediate future should be sent to your mobile wallet.
Pros of Gambling With Bitcoin Cash
Bitcoin Cash comes with many advantages over its original namesake and many other altcoins. These pros include:
As mentioned, one of the biggest perks of Bitcoin Cash is that many more transactions are confirmed every 10 minutes. This means that any money you deposit into your player account will be confirmed on the blockchain much quicker than when using Bitcoin.
As with almost any other crypto, BTC uses a decentralized blockchain. This means that your money is incredibly secure because the blockchain (or ledger of all transactions) isn’t kept on a central server.
Having the blockchain worked on by multiple users and not stored in a central location helps keep your money safe and out of the hands of a single individual or group.
Low Service Fees
Unlike Bitcoin, which has higher processing fees per block, Bitcoin Cash offers incredibly low fees. This is due to the larger number of transactions that are confirmed in each block on the blockchain.
These fees mean that you can deposit and withdraw money with your chosen online casino more often without having to worry about losing too much on service fees.
Bitcoin Brand and Acceptance
Another great perk to Bitcoin Cash is that it is part of the trusted Bitcoin brand. While its existence was caused by a fork in the BTC blockchain, BCH still has the trust and security of the main brand-making it widely accepted by almost anyone who accepts Bitcoin.
As was the plan when it was created, Bitcoin Cash is much more transactional than Bitcoin. This is because of the speed of transactions versus traditional Bitcoin-making it easier to use for day-to-day transactions like depositing into your crypto casino player account.
Cons of Gambling With Bitcoin Cash
Like with everything, the pros of a cryptocurrency also bring around some cons. Some of the biggest downsides to Bitcoin Cash include:
Like any other cryptocurrency, including Bitcoin, Bitcoin Cash has a very volatile worth. This means that your BCH deposit may not be worth what it is today if you check again tomorrow. This can work in your advantage but can also result in you losing more money than you’re comfortable with.
Lower Blockchain Involvement
Because Bitcoin Cash is not as popular as Bitcoin, there are fewer people who actively operate on the blockchain. This means that fewer BCH are mined each day and fewer people are available to process blocks.
While this doesn’t necessarily pose a problem at present, should many people decide to abandon the blockchain one day, transactions will take significantly longer and service fees may increase drastically.
Not Accepted Everywhere
While acceptance of BCH as a form of payment is increasing slowly, some places still don’t accept the crypto. This means that, should you be lucky enough to win a large sum on your favorite casino, you may not be able to spend it where you’d prefer to.
Bitcoin Cash vs. Other Altcoins Comparison
Below you can see how Bitcoin Cash compares against its original namesake as well as some of the other most common altcoins:
Block Processing Time
Average Transaction Fee (USD)
Specific Wallet Required?
$2 - $4
$0.03 - $0.04
$2 - $3
$1 - $4
Bitcoin Cash - Conclusion
Bitcoin Cash was started to be a more transactive version of Bitcoin. While it has certainly achieved this vision, developments like the Bitcoin Lightning Network do lessen the perks of this coin slightly.
However, the low service fees, the Bitcoin branding, and the wide acceptance of BCH by many different online crypto casinos makes this coin worth looking at.
So, if you are looking for a cryptocurrency that you plan on spending and earning regularly-especially for online gambling-Bitcoin Cash is certainly one that you should look at. It offers many of the perks of the famous BTC while offering several of its own unique features as well.