What is a BitPay Wallet?
Founded in May 2011, BitPay was originally created as a way of storing, swapping, buying and selling Bitcoin. Since then, it has evolved into the BitPay wallet and the BitPay Mastercard – two connected products that allow users to conveniently store and spend their cryptocurrency either in the real world or online.
With its parent company BitPay B.V. regulated by the Dutch Central Bank, BitPay is licensed in the USA by individual states, and has its headquarters in Georgia, USA. While the BitPay Mastercard is only available to customers in the United States at this time, the BitPay wallet app is available in most countries worldwide.
Functioning as both a wallet and an exchange, BitPay provides an alternative to fiat (government-issued) currency that allows you to manage your cryptocurrency from one place. Simply use your wallet on its own, or to fund your reloadable crypto debit card, and you’ll be able to make your online casino deposits as you would with any traditional deposit option. What’s more, BitPay is also a non-custodial crypto wallet, meaning that you will have sole control over your funds, giving you an extra level of online protection, and complete peace of mind.
Making BitPay Online Casino Deposits
Want to make an online casino deposit with your BitPay wallet? Here’s how:
- Once you’ve downloaded the BitPay app, you’ll then be able to use your wallet to make payments.
- Your online casino deposit will be categorized as a payment to a merchant, with your online casino being the merchant.
- On your BitPay wallet home page, you’ll have the option to buy crypto, exchange it or use it to shop. You’ll also see all the available tokens in your account, at the bottom of the page.
- Tap on the crypto currency you’ll be using to make your online casino deposit, for example, Bitcoin.
- Once you tap on the currency, you’ll be taken to a new screen where you’ll have the option to either ‘Buy’, ‘Exchange’, ‘Receive’ or ‘Send’. You’ll need to hit ‘Send’ in order to make your deposit.
- Visit your online casino’s deposit page in order to find its wallet address.
- Once you have the wallet address, enter it into your BitPay app along with the number of tokens you want to deposit, and authenticate your transaction. Note that there are no deposit limits, making BitPay ideal for larger deposits.
- Your transaction should be approved instantly, or in between 5 to 10 minutes – just check to make sure the funds have cleared and you’ll be on your way to playing your favorite online casino games!
From BitPay crypto debit cards to crypto currency wallets, there are a number of different terms associated with the BitPay deposit option – let’s take a look at them.
The BitPay app is at the heart of the BitPay experience, and is compatible with both Android and iOS operating systems. It is available for free from both the iTunes store and Google Play.
As a crypto currency wallet, the BitPay wallet app allows you to securely store and use your cryptocurrency for purchases. It also allows you to fund your BitPay Mastercard, and use it for either online or real-life transactions.
In addition, the app also allows you to request a new PIN, replace a lost card, and view your balance – all the functions you need in one convenient, secure place.
BitPay crypto debit cards
Unlike Mastercard itself, BitPay Mastercard isn’t a crypto credit card – instead, it’s a pre-paid crypto debit card that you can load with crypto currency in order to make your purchases. You don’t need to have a BitPay Mastercard in order to use your wallet, however, you do need a BitPay wallet in order to fund and use your BitPay Mastercard.
Should you wish to request and use your BitPay Mastercard, there are a number of BitPay card limits you will need to bear in mind:
- Maximum ATM withdrawal: $2,000 per withdrawal, and 3 withdrawals per day
- Maximum single-load limit: $10,000 per day
- Maximum daily spend: $10,000
- Maximum balance: $25,000
Making BitPay Online Casino Withdrawals
Using cryptocurrency wallets like BitPay can be hugely convenient for online casino banking, particularly when it comes to making withdrawals. Thanks to the convenience of a crypto wallet, there’s no need to have one payment method for deposits and one for withdrawals – now you can use the same banking option for both.
In order to make a withdrawal at an online casino via the BitPay app, simply follow the opposite process as you would for a deposit. This time, instead of using the casino’s wallet address, you’ll use your BitPay wallet address in the withdrawal menu, and transfer funds from your casino account directly to your wallet.
Withdrawal times vary from instant processing to up to 2 days, so check your specific online casino to make sure. Once your funds have been transferred to your wallet, they’re yours to use as you wish!
One of the biggest advantages to using BitPay is that there are no deposit fees. The online casino will pay a 1% processing fee on your behalf, but provided that you have sufficient crypto in your wallet to fund your online casino account, there are no deposit fees.
Where you may incur some fees is by using your BitPay Mastercard, and in keeping your account running:
- $10 for a card issue or card replacement
- $2.50 ATM fee
- 3% international transaction fee
- $5 monthly inactivity fee following 90 consecutive days of no transaction activity
Note that BitPay does not charge any monthly load fees, conversion fees, or maintenance fees.
- Deposits: Deposits should be instant, or within 5 to 10 minutes. Check your account balance to ensure your funds have been processed, and they will be ready to use once cleared.
- Withdrawals: Many online casinos pre-approve crypto wallets, meaning that crypto withdrawals aren’t subject to the same waiting periods as other online casino payment options. As a result, withdrawal processing times could be anywhere from an instant to within 2 days – consult your online casino for more information.
Where is BitPay Accepted?
Crypto currency transcends banks and borders, and as such, BitPay is accepted in numerous locations around the world. As a US-based company, however, BitPay operates in compliance with all mandated federal and local regulations, and as such is prohibited from engaging with merchants and users in countries including:
- Palestinian Territory
Supported Crypto Currencies
The BitPay app supports transactions in the following crypto currencies:
- Binance USD (BUSD)
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Dai (DAI)
- Dogecoin (DOGE)
- Ethereum (ETH)
- Gemini Dollar (GUSD)
- Litecoin (LTC)
- Pax Dollar (USDP)
- Shiba Inu (SHIB)
- USD Coin (USDC)
- Wrapped Bitcoin (WBTC)
- XRP (XRP) (EU only)
Top BitPay Online Casino Bonuses
Most online casinos that accept BitPay should allow you to use it to take part in promotions. Even if bonus amounts are displayed in regular currencies, this amount will be converted into crypto currency when you claim your bonus, so you’ll still be able to get the most value from your online casino experience.
Typical online casino bonuses include:
Deposit or match bonuses are offered to new players when signing up at a casino for the first time, usually used as an incentive to encourage players to open real money accounts. These bonuses are often promoted as ‘Sign up and get 100% up to $200’.
In order to claim the bonus, you’ll need to open a real money account and make a deposit up to a maximum of $200, in this example. If your casino accepts BitPay, you’ll be able to use your BitPay app or even your BitPay debit card to make the deposit. Once your deposit has been processed, the casino will then match that amount 100%. So, if you’ve deposited the maximum of $200, you’ll be given another $200 by the casino, making your bonus a total of $400!
Make sure to check the terms and conditions and the wagering requirements of your bonus, and start enjoying your online casino experience!
Payment method bonuses
As an additional welcome to online gambling, some online casinos will offer their deposit or match bonus in conjunction with a payment bonus as well. What this means is that you’ll be given an extra bonus simply for using a specific payment mechanism, usually a less common choice over more popular alternatives.
To claim the bonus, simply sign up as you would for a regular deposit bonus, but this time making your deposit with the necessary payment option. Once your payment is successful, you’ll receive your deposit bonus, and your additional payment method bonus as well. More bonuses, more value!
Once you become a regular online casino player, you’ll have the opportunity to claim regular reload bonuses – the casino’s way of rewarding you for your loyalty and your continued play.
Usually, reload bonuses will take the form of a deposit bonus, where you’ll be given bonus cash in return for making a deposit. Sometimes they can offer free spins as well, usually on a particular slot or slots. Simply read the terms and conditions to familiarize yourself with the steps needed to claim the bonus, and enjoy yourself!
How to Choose the Right Deposit Method
Every online casino deposit method has its own pros and cons – what should you be bearing in mind before you sign up to play BitPay?
- While the BitPay Mastercard isn’t a crypto credit card, it is a crypto debit card that can be used anywhere in the world that Mastercard is accepted.
- BitPay supports a wide range of cryptocurrencies, including Bitcoin, Dogecoin, Ethereum, Bitcoin Cash, Litecoin and more.
- BitPay is supported in most countries around the world.
- Its speedy processing times can help to ensure instant deposits and withdrawals at some online casinos.
- There are no deposit fees charged, and no deposit limits.
- Extra protection thanks to a multi-signature authentication method.
- The BitPay Mastercard is only available to customers residing in the USA.
- The $5 fee on inactive Mastercard accounts after 90 consecutive days can add up if you don’t use your account regularly enough.
How to Apply for a BitPay Mastercard
Opening your BitPay Mastercard account is quick and easy with the BitPay wallet app:
- Download the app from either the iTunes store or Google Play.
- Sign up for a BitPay Mastercard and get approval in minutes.
- You’ll then be ready to start buying your card and using it for purchases.
- Use your virtual card instantly, or order a physical crypto debit card for yourself.
Please note that you must be a US resident and you must be at least 18 years of age in order to use a BitPay Mastercard. If you reside outside the US, please sign up for the waitlist, and you will be approved as soon as the card becomes available in your country.
Online Safety and Security
With the word ‘crypto’ itself meaning ‘hidden’ or ‘safe’, crypto currency and cryptocurrency wallets are held to the highest security standards, and can be trusted to keep your personal information and your transactions safe at all times.
Cryptography is already the strongest encryption method in the world – here’s how BitPay goes even further to ensure your continued safety and security online:
- BitPay is a non-custodial crypto wallet, meaning that you and only you are responsible for it, and have access to your private keys. Not even the BitPay team will be able to access your funds, so make sure your details are kept secure, private and backed up at all times.
- The innovative multi-signature security adds an extra layer of protection to your account by incorporating multi-factor authentication. Add biometric security such as your face ID or fingerprint to your account, and you’ll be fully protected against identity theft, hacking, and other system vulnerabilities.
BitPay also makes use of secure payment protocols and offers open-source security for testing and audits, ensuring a completely secure environment at all times, with invaluable peace of mind.
Other Online Deposit Options
If you’re considering making a cryptocurrency deposit at an online casino where BitPay isn’t available, try one of these other popular options:
Probably the most well-known of the cryptocurrencies available today, Bitcoin was first launched in 2008 by Satoshi Nakamoto. As a decentralized cryptocurrency, Bitcoin exists in online form only and is processed across a shared peer-to-peer network, with no need for banks or government involvement.
The biggest and most widely accepted cryptocurrency in the world, Bitcoin can be used at almost any crypto online casino, and is secure, confidential and cost-effective too.
In order to deposit with Bitcoin, first make sure your wallet is topped up with funds. Visit your online casino cashier, choose Bitcoin as your deposit method, and make a note of the casino’s wallet destination. Log into your crypto wallet, enter your casino’s wallet details and press ‘Send’ in order to transfer your funds. It’s quick, it’s easy, and it’s fully secure as well.
Launched in 2015 and arguably the second-most popular crypto currency after Bitcoin, Ethereum is a decentralized platform that allows decentralized applications to be built, and crypto tokens, known as Ether, to be issued. Since all applications on Ethereum run on Ether, there is no need for any third parties to be involved, increasing the security of transactions.
With Ethereum transactions being processed in just seconds, it is becoming more and more popular as an online gambling payment mechanism. Simply choose Ethereum as your deposit option from within your casino cashier, then copy and paste your casino’s wallet address into your Ethereum wallet. Choose your deposit amount, authorize the transaction, and you’ll be ready to enjoy quality online gambling at its best.
About the author
Kwabena is a dynamic digital aficionado, adept at fine-tuning and localizing online casino guides tailored for Ghana's vibrant gaming community. With a perfect blend of cultural understanding and tech-savviness, he is reshaping how Ghanaians navigate the online casino landscape.