Bitcoin Online Casino Payments in Belgium

What is Bitcoin?

The key features of Bitcoin are as follows:

• Decentralisation – Bitcoin runs on peer-to-peer networks across many computers.
• Security – All transactions are encrypted and recorded on a ledger called the blockchain.
• Transparency – Every transaction gets recorded and is traceable.
• Limits Supply – A maximum supply means the coins are technically deflationary.
• Ownership – If you control the keys, you control the Bitcoin wallet.

How Does Bitcoin Work?

To get started with Bitcoin, buy some from a digital exchange and then transfer it into your own wallet. This is secured with cryptographic keys. When you send someone Bitcoin, the transaction is verified by “miners” or programmers who solve complex algorithms.

Once the payment is confirmed, it’s then added as a permanent record to the blockchain. One reason for its popularity is that it’s a system that functions without the need for any oversight from banks or other financial intermediaries.

Is Bitcoin Accepted in Belgium?

The first and most important point to consider is that Bitcoin isn’t considered legal tender in Belgium. As a result all crypto and Bitcoin casino sites have been blacklisted by the Belgium Gaming Commission. You have to keep in mind that in order for any foreign or offshore casino to operate in Belgium, it first needs to either have a land-based casino presence or enter the market through a partnership deal with an existing online platform already established within the country.

No foreign gaming licences are recognised. Without the local facility to monitor casinos abroad, including a casino Bitcoin, it’s impossible to apply the Belgian Anti-Money Laundering Act. In short, as things stand, even the best Bitcoin casino at an international level can operate in the country. Furthermore, we can see no future legislation by the Belgian authorities to change this stance.

How to Make a Deposit With Bitcoin

Before using Bitcoin, we suggest doing some homework to ensure you fully understand how to set up a wallet and buy Bitcoin from an exchange. With that in mind, here are the steps needed to make an online casino deposit with Bitcoin.

1. Download a wallet, for example from Trust, Electrum or Ledger. Make sure you secure your wallet’s private keys and backup phrase securely.
2. Buy Bitcoin from an exchange like Coinbase or Kraken, then transfer this to your wallet.
3. Choose a Bitcoin-friendly casino. Unfortunately, you won’t find any in Belgium.
4. Head over to the “cashier” or “Banking” section and choose Bitcoin as your deposit method.
5. Copy the casino’s Bitcoin wallet address or scan the QR code.
6. Open your wallet and paste in the casino’s wallet address.
7. Send the required Bitcoin and wait for confirmation.
8. You’ll see your casino account balance reflect the new amount.

How to Withdraw Winnings with Bitcoin

To make a withdrawal from Bitcoin casinos, follow the steps below:

1. Login to your casino account and go to the Withdraw section of the Cashier.
2. Select Bitcoin from the withdrawal options.
3. Open your Bitcoin wallet and paste your Bitcoin address into the required field.
4. Specify the amount, making sure it meets the casino’s minimum for withdrawals.
5. Click “Confirm” and wait for between a couple of minutes to 24 hours for blockchain confirmation.
6. Check your wallet for the new funds.

Advantages and Disadvantages of Using Bitcoin

Almost like a religion, Bitcoins are pretty polarising, with believers and non-believers. One of the main benefits often touted is the anonymous nature of Bitcoin. However, this falls completely flat when used in any licensed casinos as you are mandated to provide personal details as part of the mandated KYC (Know Your Customer) requirements.

On the other hand, with Bitcoin being banned at online casinos in Belgium, you’re going to have to find another payment platform. Nevertheless, if you’re still thinking about using Bitcoin for online gambling, below we’ve laid out the main pros and cons:

Fees and Limits for Bitcoin in Belgium

All cryptocurrencies like Bitcoin come with fees for using the blockchain. Known as “gas fees”, “transaction fees” or “network fees”, these vary considerably depending on the blockchain network conditions.

Because the blockchain is so slow at recording transactions, during busy periods, the waiting time increases, as well as the fees for usage. For example, with Bitcoin or Ethereum, gas fees can be as high as an eye-watering $50 per transaction during peak times. Likewise, transaction times can go up to a couple of hours.

Is Bitcoin Safe to Use at Online Casinos?

The short answer is “No.” If you’re a casino player who’s based in Walloon, Brussels, or the Flemish region, the only way to access a BTC casino is via a VPN. This places you in a country where gambling with cryptos is allowed. However, it’s not something we recommend. For starters, many Bitcoin casinos don’t have proper licenses from reputable gambling authorities.

Keeping in mind the anonymous nature of crypto, it’s easy for any iGaming platform to be less than honest with you. The lack of a license also means that the games haven’t been audited for fair outcomes. You may also have problems when it comes to repatriating any winnings into your Belgian bank account.

Alternative Payment Methods for Belgium Players

With zero possibility of utilising cryptocurrencies like Bitcoin for online gaming in Belgium, you have no other choice but to find alternative payment options. Luckily, there are both digital and more traditional means of moving funds for deposits and withdrawals. One of the easiest for players from Belgium is Bancontact, a domestic debit card system that’s popular with many online casinos in the country. Then there are debit cards like VISA and Mastercard which allow instant deposits.

We should also not forget about e-Wallets such as PayPal, Skrill, and Neteller, though some of these may be excluded from receiving casino online bonuses. Paysafecard is a prepaid voucher system that’s perfect for gamblers who are looking to control their online casinos spending. Finally, we have the traditional yet super-safe bank transfer (SEPA), which though ideal for larger transfers, is much slower than almost any other payment method.

Our Verdict: Should You Use Bitcoin at Online Casinos in Belgium?

Whether you have a wallet filled with Bitcoin, Tether, Dogecoin, or Ethereum, you can’t use it at Belgian online casinos. The very aspects of cryptocurrency that have led to its popularity, like its anonymity, are actually the root of its undoing in Belgium.

Because the Belgian government can’t follow the trail of crypto payments with transparency, no Bitcoin casino sites can get a gaming licence in Belgium. Hence don’t expect to find a Bitcoin casino bonus either. Then there’s the fact that crypto like Bitcoin isn’t considered a legal form of money. With this in mind, you’re best sticking with more traditional banking methods like e-Wallets, bank transfers, and prepaid cards.