Online Casino Vera&John Now Accepting Bitcoin Payments

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Vera & John Bitcoin Casino

Bitcoin, a virtual currency that has been around since 2009 is slowly gaining the trust of online betting companies. Online casino Vera&John became the first big licensed casino to accept Bitcoin. We have tested it and published a review of Vera and John casino.

Bitcoin Concerns

In the past, most online betting companies stayed clear from the Bitcoin payment system as they were not happy with the currency’s constant fluctuations and loopholes that could be used by criminals for money laundering.

However, all that seems to be a thing of the past as online casino Vera&John proved that there are indeed ways to mitigate these concerns and work securely with the Bitcoin payment system. Vera&John, an online betting company registered in Malta has been accepting bitcoin deposits for the past few weeks. Once the deposit is made, it automatically gets converted into Euros and then gets paid into the customer’s account on the Vera&John website.

Vera&John’s Bitcoin Process

Those customers who make bitcoin deposits on the Vera&John website can withdraw their deposits back to their accounts at anytime but only in bitcoins. With this system in place, Vera&John have given their customers an additional way of making deposits and accepting payments. All deposits are converted into Euros at current exchange rates and since Vera&John do not hold bitcoins, they do not take on any unnecessary market risk.

Johannes Klasson, an SEO consultant who works with Vera&John said that the online casino has teamed up with Coinapult, who will serve as a payment processer for all bitcoin transactions. When bitcoin deposits are made at Vera&John, these bitcoins will get automatically transferred to Coinapult who will then do a conversion into Euros and send them back to the Vera&John account.

Vera&John’s And Coinapult Collaboration

In a release, a representative of Coinapult said “Vera&John have been extremely excited to get bitcoin payments up and running. They understand that it’s only a matter of time until other gaming operators recognize the benefits of bitcoin technology and realize the actual ease of integration.”

Vera&John have mitigated all significant concerns with this approach as they now leverage the bitcoin system to serve as a payment network rather than a digital currency. This innovative method will give Vera&John customers another deposit and withdrawal option. However, US based players will not be able to make use of the bitcoin system as the strict anti-gambling legislation prevents US customers from using such a payment system.

The representative from Coinapult went on to say that “Being able to build business relationships like these – in jurisdictions and with banks that have clear, market-friendly regulatory frameworks – is why Coinapult opted to leave the US and establish itself in Panama.”

Bitcoin Setup

Vera&John expects significant business to come in the form of bitcoins as there are over 200 slot games on the website, in addition to other popular games such as blackjack, video slots and roulette. The casino confirms that gamers will be able to win up to 5,000 BTC in a single bet.

Vera&John customers who want to set up their bitcoin payment system can do so by going to www.verajohn.com and navigate to the about section where there are simple instructions on how to set up your online account and start playing immediately.

February 23, 2014: • No Comments

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