Koi Casino Tested: Efficient Processing but with Fees on BTC Deposits & Withdrawals

Less Than 24 Hours for BTC Withdrawal with KYC

As you already know, our entire team’s mission is “To Bring More Value To The Player”. Looking for a way to upgrade this corporative philosophy of ours, we came up with the “From the Players for the Players” project, which gives consumers a unique opportunity to take a closer look at different casino practices.

So far, our testers have explored more than 115 online casinos and 45+ bingo rooms, paying special attention to deposits, and withdrawals, in particular processing timeframe and potential fees. As Bitcoin is one of the most popular choices among gamblers, we strive to select operators which support this payment method and put their efficiency to test. That’s why Koi Casino ended up among “the chosen ones”.

Just like with every investigation, our tester registered, funded the account, played some games, and eventually requested to cash out. Even though she submitted docs to verify her identity, no delays emerged to affect the processing time.

Before we guide you through the entire process, take a look at the key points of our tester’s interaction with Curacao-licensed Koi Casino:

• Tester of the day: Cactus12
• Registration date: December 15, 2022
• KYC documents sent on December 15, 2022
• Deposit of EUR 200 / 0.01214056 BTC via Coinbase made on December 15, 2022; a fee of EUR 2 applied, so after the removal of an automatic bonus, she received EUR 195.53
• Withdrawal of EUR 50 via Coinbase requested on December 15, 2022; a fee of EUR 5.5 applied, so the tester could cash out EUR 44.5
• Withdrawal of 0.00268035 received on December 15, 2022

Having in mind that the entire procedure was finalized within less than 24 hours, we could say that this was quite a smooth journey for our tester. However, those fees do kinda spoil the impressions, don’t they? Let’s take a closer look at each step of her investigation to see if she encountered any additional troubles along the way!

Koi Casino Overview

Operated by Njord Ventures, Koi Casino describes itself as an “ultimate no-nonsense casino”, and an interesting gaming destination with the best games. Thanks to strategic partnerships with numerous top-class content providers such as Play’n GO, Thunderkick, Booming Games, Spinomenal, Relax Gaming, and many more, it accommodated an impressive selection of slots, table, and live games.

Taking a look at the section where “Promotions” are listed, players shall encounter a variety of interesting offers. They range from a valuable Welcome bonus, all the way to Drops & Wins and live casino deals. This non-US-friendly online casino is available in multiple languages, and it supports a wide range of payment options.

Registration and ID Verification

Joining the platform was easy-breezy, as all our tester needed to do was fill in the form and enter a couple of basic info about herself. The registration process took place on December 15, 2022.

To avoid any potential delays with the cashout, our tester decided to verify her identity immediately after signing up. She sent an image of her passport, a selfie where she holds the document, and the utility bill via e-mail.

According to the Terms:

“11.4. The website reserves the right to withhold any payment to/from a player’s account to such player until we are satisfied that the identity, age, and place of residence of the player have been verified.”

Also, the “Age & Verification policy” contains the following rule:

“In some circumstances, it may be necessary for us to verify your identity or age through a manual inspection of documents and we reserve the right to request such documentation at any time.”

Deposit

As soon as she joined the platform, our tester went on to add funds to her balance. She selected EUR 200 in BTC, but when she entered the desired amount in the cashier, the sum displayed EUR 198. Koi Casino charges fees on deposits.

A couple of minutes later, her casino balance displayed EUR 391.06. Apparently, a bonus was automatically added to her account. As she wasn’t interested in using it and dealing with WRs, she turned to live chat support to have it removed.

She was asked to confirm her DOB, registered e-mail address, and phone number, after which she had the bonus eliminated from her account. She even canceled it in the “Bonus” section.

Following the removal of a bonus, her balance displayed EUR 195.53. This was slightly less even than the sum which was initially indicated in the cashier - EUR 198 after the 2 EUR fee was charged as indicated. This means the exchange rate is not correctly stated in the cashier, or the casino does not guarantee the stated exchange rate.

To replenish the account players can opt for cards, e-wallets, and multiple cryptocurrencies. The minimum deposit amount is EUR 20. As for the accepted currencies, the list includes EUR, CAD, INR, NZD, NOK, YEN, USD, and KR.

“12.3. […] In the case of funding the gaming account with a currency other than the currency specified by you when you register, all conversion fees are paid by the Player.”

Gameplay

The first game the tester checked out was Cougar Cash, after which she tried luck with a themed one by Quickspin- Big Bad Wolf Christmas Special.

After a couple of rounds, she switched to Book of Horror Friday the 13^th and Reel Talent. The next in line was Let It Spin by Booming Games, where she landed a win of EUR 23.40.

Having played this holidays-inspired game, she switched to Wild Coaster and then ventured into Gift Rush by BGaming. Later on, she played Wins of Winter and then returned to Let It Spin, where she triggered a win of EUR 56.34.

Her next choice was NetEnt’s Wonders of Christmas, as well as Spinions Christmas Party and Fishin’ Christmas Pots of Gold.

The tester also explored Thunderkick’s Odin’s Gamble and Jack and the Beanstalk, after which she returned to Let It Spin once again.

Withdrawal

Having finished playing games, the tester decided to make a withdrawal request amounting to EUR 50. Just like with a deposit, a fee of EUR 5.5 was removed from her account, decreasing the requested amount to EUR 44.5.

Less than a minute later, a notification arrived confirming that her request was accepted.

A couple of hours, she received an e-mail from the casino which informed her that the request was approved.

The money was credited a couple of minutes later, meaning the entire investigation was finalized on December 15, 2022, within a couple of hours only.

The available withdrawal methods are similar to those players can use to deposit. The minimum amount to withdraw is EUR 20, while the maximum amounts to EUR 10,000 per day. Processing time is up to 5 business days.

According to the Terms, all deposits need to be wagered 1x before a withdrawal is possible. As seen from our tester’s example, fees are imposed on both deposits and withdrawals. Worth noting is that the verification is needed in case the cumulative withdrawals reach EUR 2,000.

“13.7. If the Player has deposited via credit or debit card and the amount of withdrawal is equal to or smaller than the one deposited, we reserve the right to pay the withdrawal amount back to the credit or debit card. If the amount exceeds the one deposited, the amount in excess will be paid via one of the alternative payment methods.”

Conclusion

The fact that the entire test, from registration to withdrawal, was completed within a couple of hours indeed is a huge plus and an excellent confirmation of Koi Casino’s efficiency. On the other hand, it’s hard to ignore fees on both deposits and withdrawals.

Have you already played at Koi Casino? If so, please share your valuable insights with us in the comments section below. Gamble responsibly!