Yes folks, Yebo Casino does in fact accept Bitcoin as a secure deposit and withdrawal option when playing our online casino games. For those players that dont know what it is, here is a very simple explanation. Bitcoin is a non-centralised person-to-person AKA “peer-to-peer” currency that is essentially also digital and is usally mined and stored online in like a digital bank. Essentially it is completely anonymous electronic cash or currency that can be exchanged for goods and merchants or used to pay friends or family. Only recently there has been interest in Bitcoin casinos South Africa as the value fo the Rand continues to weaken, players and normal consumers alike are slowly starting to see the benefits of using Bitcoin.

How to deposit with Bitcoin?

As Bitcoin is such a new banking option in the casino world it can be a little confusing when making deposits for the first time but once you get it set up, it’s easier then using a credit card in most instances. Below is a step by step guide on how to deposit using Bitcoin:

Step 1 – The first thing you would need to do is set yourself up with a Bitcoin wallet (Thats if you dont already have one). Alternatively some of the existing payment options such as Neteller act as a Bitcoin wallet so if you have a Neteller account already simply use this option as your central wallet. Other wallets we can recommend include: Kraken, Coinbase, Electrum, Blockchain, Trezor and Copay. We recommend you do your research when selecting a wallet to use, most offer the same product but with small intricacies that are different among each.

Step 2 – Choose your method of payment in the cashier. Using Bitcoin is no different from using any other deposit method such as credit card, EFT or Skrill. Simply log into your account and visit the cashier. Select the “deposit” option and in the list of secure and approved payment methods select, Bitcoin as the option.

Step 3 – Copy the Bitcoin address provided to you in the cashier, this is the address you will be sending your Bitcoins to i.e. the address you will transfer/deposit the funds to.

Step 4 – Deposit your funds. Copy the address to your Bitcoin wallet. Also enter the amount in Bitcoin you would like to deposit. Once you have copied our address into your wallet simply click on the “Pay” button and Viola! Your Bitcoin will automatically be available for you in your casino account within seconds.

Benefits of using Bitcoin

One of the key benefits and advantages of using Bitcoin when you gamble online is the fact that it is 100% anonymous and most tech pundits would agree, its more secure then any other payment method whether it be online or offline. Another big benefit for merchants is there is no risk of chargebacks. Anf finally, the main benefit from a payout perspective is that because it is so secure and there is no risk of chargebacks, most casinos offer instant Bitcoin withdrawals i.e. there is no need to verify or validate your details and send in KYC documents. Once you request a withdrawal using Bitcoin, it takes only a few seconds for the Bitcoin to arrive in your wallet. This is far superior then the existing payout options available today which can take up to 5 business days for you to actually receive the funds. A note needs to be said about the currency exchange risk: Make sure you are following the exchange pricing of Bitcoin and other currencies. Bitcoin can be pretty volatile at times but in the long run it has proven to give a far better return then say USD vs the Rand or other finite currencies.

Our word of advice here is to do your homework a bit before diving into the world of Bitcoin, things can seem overwhelming at first but the learning curve is not that steep and once you master it you will think how you could hev not been using Bitcoin years before.