How Long Does Bitcoin Withdrawal Take?

By | July 5, 2023

An Instant withdrawal Bitcoin casino prioritizes fast transactions and aims to provide players with swift access to their winnings. Unlike traditional platforms with slower payout methods due to various factors such as banking processes, verification requirements, and transaction delays, these casinos involve fewer intermediaries, resulting in faster processing times.

On the web, you can find trustworthy sites, not just with a listing of crypto casinos with fast payouts, but which also contain complete data about timeframes and withdrawal examples with proof and screenshots. These platforms also have countless games, i.e., table, live dealer games, and slots. And the good thing is that there are many crypto exchanges to get and withdraw crypto for secure gambling, i.e., Coinbase, Binance, Kraken, and Gemini. Therefore in this article, we will answer the question, how long does Bitcoin withdrawal take? We will focus on platforms such as Binance, Cash App, and Americas Cardroom.

How Does Bitcoin Withdrawal Work?

Bitcoin withdrawal in a casino works similarly to how you withdraw fiat currency. The procedure may differ from platform to platform, but typically the basic steps are;

  1. Log in to your online casino account.
  2. Navigate to the cashier or withdrawal section
  3. Select Bitcoin as the withdrawal method. This may be listed as BTC.
  4. Enter the withdrawal amount.
  5. Provide your Bitcoin wallet address – where you want the funds sent.
  6. Confirm the withdrawal.
  7. Wait for confirmation from the casino.
  8. Once the casino approves the withdrawal, the Bitcoin transaction is broadcasted to your chosen blockchain network. Multiple confirmations may be required before fully transferring funds to your Bitcoin wallet.

Factors That Affect Payouts in an Instant Withdrawal Bitcoin Casino

So, how long does Bitcoin withdrawal take? On average, receiving the funds in your wallet address takes a few minutes or up to 24 hours. However, the processing times can vary depending on several factors, such as;

  • Blockchain Congestion. Bitcoin operates on a decentralized blockchain network, and during periods of high transaction volume, the network can become congested. When this happens, it may take longer for transactions to be confirmed, leading to delays.
  • Transaction Fee. Higher transaction fees incentivize miners to prioritize the transaction, potentially leading to faster confirmation times. The transaction may take longer to process if a lower transaction fee is used.
  • Casino Verification Procedures. An Instant withdrawal Bitcoin casino often has security measures to prevent fraudulent activities and comply with regulations. Some sites may require additional verification steps, such as Know Your Customer (KYC) procedures which can add extra time to the withdrawal process.
  • Time of Withdrawal Request. The time of day, when a withdrawal request is made can also impact the processing time. Some platforms may have specific processing windows or staffing hours. Therefore, withdrawal requests made outside these times may experience delays until the next working hours.
  • Casino Processing Time. Each casino has its internal processes for handling withdrawal requests. The time it takes to review and process the request can vary. Some casinos may have automated and efficient systems, while others may require manual review, leading to longer processing times.
  • The Amount of Withdrawal. Larger withdrawals take longer to process than smaller withdrawals. This is because they require more time for processing compared to smaller withdrawals.

What To Consider Before Withdrawing in an Instant Withdrawal Bitcoin Casino

You must consider some factors to have a smooth and secure withdrawal process. These are;

  • Withdrawal Fees. Consider the transaction fees associated with withdrawing funds from the Bitcoin casino. These transactions typically involve network fees paid to miners for processing transactions. Evaluate the fee structure and ensure it is reasonable to the amount you wish to withdraw.
  • Withdrawal Limits. It’s always important to check the withdrawal limits set by the casino. There may be minimum and maximum withdrawal amounts that you need to adhere to.
  • The Security of the Withdrawal Process. Verify the security measures implemented by the casino to protect user accounts and funds. Look for features such as two-factor authentication (2FA), encryption, and secure storage practices.
  • Withdrawal Processing Time. Understand the typical withdrawal processing time of the casino. Some casinos process withdrawals instantly, while others may have a manual review process that can take longer.

Bitcoin Withdrawal Fee

Bitcoin withdrawal fee in casinos vary depending on the gambling platform. Some may charge no fee, while others may charge a small fee. However, the average Bitcoin withdrawal fee in casinos is around 0.0005 BTC, which is equivalent to about $0.15 at the current exchange rate.

In addition to the casino’s withdrawal fee, there may also be a Bitcoin network fee. This fee is paid to the miners who process the transactions. It is determined by the amount of traffic on the network. When the network is congested, the miner’s fee may be higher.

Therefore, the total fees you will pay when withdrawing Bitcoin from a casino will depend on the platform’s withdrawal and network fees.

Binance

Binance is one of the world’s largest and most popular cryptocurrency exchanges in the world with a daily trading volume of over $100 billion. It was founded in 2017 by Changpeng Zhao and has since grown to become the leading and trusted platform that most plates prefer.

How Long Do Binance Bitcoin Withdrawals Take?

Speedy payouts are essential to many gamblers. After all, no one wants to wait too long to get their winnings. This leads to the question, how long do Binance Bitcoin withdrawals take? Well, Binance Bitcoin withdrawal time can vary depending on the factors mentioned earlier on. However, receiving your money takes 10 minutes or a few hours. In other instances, it can take up to 24 hours.

Binance Bitcoin Withdrawal Fee

This cryptocurrency exchange applies a standard withdrawal fee denoted in BTC. For example, it charges 0.0001 BTC for each withdrawal. These fees help cover the costs of processing the transaction. It’s important to note that the blockchain network determines the withdrawal rates and can fluctuate without notice due to network congestion.

However, you can reduce the Bitcoin withdrawal fee by;

  • Withdrawing during off-peak hours when the Bitcoin network is less congested.
  • Using SegWit addresses, which typically have lower fees than traditional non-SegWit addresses.
  • Consolidate small into a single larger withdrawal. This approach can reduce the number of transactions and potentially lower the total fee.
  • Use fee estimation tools to determine an appropriate fee for your transaction

Binance Bitcoin Withdrawal Limit

The minimum withdrawal limit on Binance is 0.0004. On the contrary, the maximum withdrawal limit is 1000 BTC per day for advanced users. Note that the company has different verification tiers determining the maximum amount you can withdraw in 24 hours. However, these verification levels and their corresponding withdrawal limits are subject to change, so it’s always advisable to check their website for the most up-to-date information.

Nonetheless, the verification levels are;

  • Unverified Accounts. Unverified accounts have a withdrawal limit of 0.06 BTC per day.
  • Basic Verified Accounts. Basic verified accounts have a withdrawal limit of 10 BTC per day.
  • Intermediate Verified Accounts. Intermediate verified accounts have a withdrawal limit of 100 BTC per day.
  • Advanced Verified Accounts. Advanced verified accounts have a withdrawal limit of 1000 BTC per day. However, it can vary and be adjusted based on individual account circumstances.
Verification levelWithdrawal Limit
Unverified0.06 BTC per day
Basic10 BTC per day
Intermediate100 BTC per day
Advanced1000 BTC per day
How Long Does Binance Withdrawal To Bank Take?

The withdrawal time for fiat currencies through Binance depends on the specific partner and the chosen withdrawal method. The processing time can vary based on the partner’s policies, banking procedures, and country-specific regulations. For SEPA withdrawals, it takes 1-3 business days. For SWIFT withdrawals, it takes 3-5 business days.

Thus it’s recommended to visit Binance’s official website or consult the information provided by the specific partner involved in the fiat withdrawal process.

Cash App

Cash App is a mobile payment service developed by Block, Inc. (formerly Square, Inc.). It allows users to send, receive, invest, and buy and sell Bitcoin. It is a safe and secure payment method, using various security features such as two-factor authentication and PIN protection to protect your account. The service provider is available in the United States and the United Kingdom.

How Long Does Cash App Bitcoin Withdrawal Take?

If you are wondering how long does cash app bitcoin withdrawal take, the answer is, It normally takes 2-3 hours but may take up to 48 hours in rare cases. Factors that may influence the speed of Bitcoin withdrawal Cash App include; the amount of Bitcoin you are withdrawing, time of day, withdrawal fee, and network congestion.

While the service provider strives to provide a prompt withdrawal experience, occasional delays can occur due to network congestion or other unforeseen circumstances. So if you have any concerns or experience significant delays with a Bitcoin withdrawal on Cash App, it is advisable to contact their customer support for assistance.

How Much Does Cash App Charge to Withdraw Bitcoin?

Bitcoin Withdrawal Cash App charges a 1.75% fee on each withdrawal. However, the app offers three withdrawal speeds I,e Standard, Rush, and Priority.

  • Standard. This is the default withdrawal speed. It is free, but processing your withdrawal can take 2-3 hours.
  • Rush. This speed costs a network fee deducted from your Bitcoin balance. The exact fee depends on the congestion of the Bitcoin network at the time of your transaction. Rush withdrawals usually take 30 minutes to process.
  • Priority. This speed is the fastest. It costs a higher network fee than Rush withdrawals. Payouts done using Priority take 10 minutes to process.

You need to withdraw at least 0.001 bitcoin to make a withdrawal using the Standard withdrawal speed. Rush and Priority withdrawals have a 0.00005 Bitcoin minimum withdrawal amount on Cash App.

Americas Cardroom

Americas Cardroom (ACR) is a US-themed online poker site founded in 2001 and headquartered in San José, Costa Rica. It is a subsidiary of the Winning Poker Network (WPN). ACR serves parts of the United States, Canada, Latin America, and several other countries. It is one of the largest online poker sites in the world, with over 1 million active players. Similarly, it offers a wide variety of games, generous bonuses, promotions, and freeroll tournaments. So, what is Americas Cardroom bitcoin withdrawal time?

Americas Cardroom Bitcoin Withdrawal Time

Americas Cardroom (ACR) Bitcoin withdrawal is processed within 1 hour after the request is made. However, it may take up to 3 business days for your withdrawal to be confirmed by the Bitcoin network.

Americas Cardroom Withdrawal Fee

Fortunately, you won’t incur any costs for Americas Cardroom Bitcoin withdrawal as they don’t charge any. However, you may incur costs using other payment methods. Note that the minimum withdrawal for Bitcoin is $50, while the maximum payout is $10,000 (one payout per day and up to five per week).

Why Make a Bitcoin Withdrawal?

You should consider this digital currency as a withdrawal method for several reasons. These are;

  • Faster Transactions. Bitcoin withdrawals are generally faster than those with traditional payment methods, such as credit cards or bank transfers. This is because the transactions are processed on a decentralized blockchain network, which does not require the involvement of a third party.
  • Provably Fair Gaming. An instant withdrawal Bitcoin casino implements a concept called “provably fair” gaming. This involves cryptographic algorithms that allow players to independently verify the fairness of game outcomes, ensuring transparency and trust in the gaming process.
  • Lower Fees. Bitcoin transactions typically have lower fees than traditional payment methods. This is because it is a peer-to-peer currency, so there is no need to pay fees to a third party, such as a bank or credit card company.
  • Security. The transactions are secured by cryptographic protocols, making them highly secure and resistant to fraud or unauthorized access. The decentralized nature of Bitcoin also reduces the risk of hacking or manipulation compared to traditional payment methods.
  • Anonymity. An instant withdrawal Bitcoin casino provides anonymity, as they typically require only a wallet address for transactions to occur. This can appeal to players who prefer to keep their gambling activities private.

The Cons of Bitcoin Withdrawals

  • Volatility. The price of Bitcoin is volatile, which means that the value of your winnings can fluctuate significantly. This can be risky if you plan to cash out your winnings in fiat currency.
  • Limited Adoption. While the popularity of this digital currency is increasing, not all gambling sites accept it as a form of payment. Thus this restricts the options available to players who prefer this crypto.
  • Learning Curve. To use Bitcoin, you must familiarize yourself with wallets, addresses, transaction fees, and security practices. This learning curve can be a barrier for those unfamiliar with cryptocurrencies.
  • Irreversibility of Transactions. Bitcoin transactions once confirmed on the blockchain, are typically irreversible. If you send Bitcoin to the wrong address, reversing the transaction and recovering your funds may be challenging.

Conclusion

How Long Does Bitcoin Withdrawal Take? The time it takes for a Bitcoin withdrawal to complete depends on a few factors, including the exchange or platform you use, the network congestion, and the withdrawal size. Therefore, Bitcoin withdrawals can take anywhere from a few minutes to a few hours to complete, i.e., 24 hours. This is much faster than other payment methods, such as e-wallets, bank transfers, and credit/debit cards. Using Bitcoin for withdrawals offers several advantages, including; faster transactions, lower fees, anonymity, advanced security, and anonymity. In addition, it provides provably fair gaming; this ensures the games are fair and cannot be manipulated. Remember to check the cryptocurrency exchange’s withdrawal fees, time, and processing time to ensure you get your winnings faster and more efficiently.