How much would you pay for a pizza? 20 dollars? Perhaps 30?
Picture this… In 2010, Laszlo Hanyecz paid an equivalent of $327 million in today’s money for a pizza!
How you may ask?
He paid for the pizzas with bitcoin, in what is believed to be the first-ever cryptocurrency transaction in exchange for tangible goods.
At the time, a single bitcoin was valued at $0.003, with pizza costing about $30. As such, Lazlo needed 10,000 bitcoins to offset the bill. In a crypto casino, bitcoin no-deposit bonuses are commitment-free rewards that are given to online players that are issued by online cryptocurrency casinos. They operate under the same principle as their traditional peers, with the only distinguishing factor being the fact that they are issued by cryptocurrency casinos.
Fast forward to today, this pioneer cryptocurrency is valued at $32,799.90 each. But that’s not the best part. Bitcoin and its underlying technology have continued to permeate across multiple sectors, and online gambling has not been left behind.
As Bitcoin continues to become mainstream in the online world, punters are increasingly looking for online betting websites that allow them to place bets using the cryptocurrency. In response, more and more gambling websites are beginning to accept Bitcoin as a payment method. So much so that online casinos have invented creative ways to lure these new customers such as offering bitcoin no deposit bonuses and bitcoin casino free spins.
In this article, we are going to look at what Bitcoin casino no deposit bonus codes are, how they work, and the different types.
What is a Bitcoin No-Deposit Bonus?
Basically, Bitcoin no-deposit bonuses are commitment-free rewards given by cryptocurrency casinos to players. They operate under the same principle as their traditional peers, with the only distinguishing factor being the fact that they are issued by cryptocurrency casinos. And as the name suggests, no deposit bonuses allow you to play select games without making an initial deposit, with the only requirement being to register an account with the casino and verify your email.
Unlike the regular Bitcoin bonuses, the no-deposit bonuses aren’t linked to any deposits, making them ideal for rookie players. With that said, you need to satisfy the wagering requirements of the offer to cash out your winning. As such, it is always important to carefully review the terms and conditions of each offer to avoid unpleasant surprises in the future.
Different Types of No-Deposit Bitcoin Bonuses
There are two major types of Bitcoin no-deposit bonuses that you may come across in an online casino.
No-Deposit Free Spins Bonuses
No deposit free spins are by far the most popular and widely offered form of commitment-free rewards given by Bitcoin casinos. They are premised in a simple and straightforward philosophy, normally requiring the player to register a new gambling account in exchange for the free spins. Although not all free spin offers are created equal, they range between 10 and 30 depending on the casino operator of your choice.
After opening your gambling account with the gambling site, the free spins are directly credited to your account. However, they usually are eligible for one or several video slots, meaning you can’t use them in any other games. Only after depleting your free spins are you required to fund your account and begin playing with real money. While at it, you need to meet the offer’s wagering requirement to cash out the accrued winnings.
No-Deposit Free Play Bonuses
Just like the free spin bonuses, the free play bonuses normally require you to register a new gambling account with the casino to benefit from the offer. Once activated, the free play bonus allows you to play some or all games in the casino for a limited time using a limited number of spins or chips. Unlike their Bitcoin no-deposit free spin cousins, free play bonuses are relatively unpopular, which is why they’re eligible on a few select Microgaming titles.
With that said, the free play bonuses are an excellent way for new players to experience the casino’s games’ selection, as well as the overall gaming experience.
Factors To Consider When Choosing a Bitcoin No-Deposit Bonus
As earlier indicated, not all Bitcoin no-deposit bonuses are created equal. Some are generous, some small, while others come in a lump sum or installments. This problem is further compounded by the growing number of scam gambling websites offering no-deposit bonuses with exhaustive wagering requirements and unreasonable T&Cs.
To avoid all these thin-ices associated with no-deposit bonuses, here are some three key rules to keep in mind.
Wagering requirements and Identity Verification
When it comes to no deposit bonuses, the first thing you need to keep in mind is the wagering requirement of the offer. The last thing you want is to spend weeks organically growing your bankroll, only to realize you now have to deal with the hurdles erected by exhaustive wagering requirements. As a general rule of thumb, you should be looking at a maximum wager of 30x your bankroll. This implies that if your bonus is worth $100, you need to wager at least $3000 to cash out your winnings.
Along with that, some casinos may require you to fulfill additional criteria before cashing out such as verifying your identity.
Another factor to consider when choosing a Bitcoin no-deposit bonus is its timeframe. Being a promotional offer, you’ll find some casinos offering the bonus for a limited period before retiring it. As a player, choosing a time-barred no deposit bonus is not only counterintuitive but also regressive as you may end up losing your winnings.
Again, always take time to review the terms and conditions of the bonus before subscribing.
Typically, a no-deposit Bitcoin bonus is eligible for a few select games, and slots in particular. For this reason, it is important to carefully review the offer brief to ensure you are using your spins of free play correctly.
Alternatively, you can always get in touch with the casino’s support team to educate you on the terms of the offer if you are in doubt.
Different jurisdictions have different gambling laws. To navigate this landmine–filled terrain, casinos do offer region or country-specific no-deposit bonuses. Before subscribing to an offer, ensure that players in your country of residence are eligible to participate.
How to Buy Cryptocurrencies
Although Bitcoin no-deposit bonuses are largely offered by cryptocurrency casinos, mainstream casinos have also started embracing it as a payment method. And to successfully fund your account, you need to own Bitcoin.
Which begs the question… where do you buy Bitcoins?
Well, there are multiple avenues that you can use to get hold of this cryptocurrency with online exchanges being the most convenient. Unfortunately, there are countless Bitcoin exchanges and trading platforms out there, so you need to find the most reputable. Needless to say, it should be available in your country of residence.
Pros of Bitcoin No-Deposit Bonuses
Whether you are a rookie or a seasoned player, Bitcoin no-deposit bonuses can benefit you in several ways including;
Zero risk– A Bitcoin no-deposit bonus allows you to play for real money without making an initial investment. And whether you lose or win, there is nothing to worry about because you will have used your bonus. In any case, even if all your bets hit the fan, your initial investment will remain intact.
Boosts your bankroll– Although Bitcoin no-deposit bonuses have zero risks, they allow you to play for real money. Depending on the terms of the conditions of the offer, you can redeem the prizes, which comes in handy when looking to boost your bankroll.
Test new games – When it comes to selecting eligible games for free spins or free play, online casinos consider their popularity, unique feature, and in most cases, they’re usually newly launched games. This allows you to try out new games or game-plays, ultimately expanding your gambling adventures.
Experience the casino – Bitcoin no-deposit bonuses are also a leeway to probing the user experience of a particular casino. Whether it’s registration, gameplay, or even customer support, you are able to clearly understand how the site operates, its general flow, and the services offered. At the end of it all, it becomes easy to truly establish whether or not the casino meets all your gambling needs.
Are Bitcoin Casino No-Deposit Bonuses Worth It?
From the look of things, Bitcoins are here to stay. And although it may take long before they become mainstream and fully assimilated into the online gambling realm, they will continue to create a precedent in terms of how casinos package their bonuses and promotions. As a true testament to this, traditional online casinos are already paving the way by embracing Bitcoins as a payment method. As more and more new Bitcoin casinos continue to emerge, they will bring a whole new dimension to how players wager online and how they are rewarded for it through innovative Bitcoin no-deposit bonuses.