Bitcoin casinos allow players to make deposits and withdrawals with one of the most popular cryptocurrencies available, Bitcoin. It offers the best combination of anonymity and security, making it a popular choice for online and mobile casino gamblers. Bitcoin transfers use a unique key, so a third party can never steal or track your payment information. This guide will provide insight to casinos that accept Bitcoin, how the virtual currency works, how to use it, and its many advantages. This article also provides reviews and recommendations on online Bitcoin casinos where it is safe to play.
Bitcoin, the revolutionary payment system –that started just a few years ago– has become enormous. It allows players to deposit a virtual monetary system into various different casinos in the easiest and simplest way, without having to use a credit card. Bitcoin has become another option for players with many benefits. Some advantages include: It has become a global currency, it has low transaction fees, and it allows fast and secure transfers.
How to make a Bitcoin Casino deposit in 6 easy steps
- Join a Bitcoin Casino – Become a member of an online casino by signing up through the registration form. It is worth noting, continuing members will only need to click on the Cashier link, then select Bitcoin as their payment method.
- Fill-in basic information when registering – Include your name, username, snail mail address, and a valid email address. When registering, make sure to provide accurate information so the cash out process will be quick and easy.
- Go to the Casino Cashier – Once in the casino’s Cashier, select Bitcoin as your payment method. Remember that you will need to use an accepted Bitcoin wallet (continue to read below to see what these are). You will also need to own Bitcoin cryptocurrency, which can be bought at exchanges like Circle or Kraken.
- Input Your Wallet Address – Each player with a Bitcoin wallet will have his or her own personal wallet address. This address is used for making transfers, and casinos will need it to continue. Input your wallet address to ensure payments go through.
- Choose Deposit Amount – Choose the amount you want to deposit in order to fund your account. Each casino has deposit and withdrawal limits. These can be as small as 0.000000001 BTC or can go up to 1 or more BTC. You will need to input the casino’s Bitcoin address, which is given to you by the online casino. Contact customer support if you need further information.
- Fund the Account & Play – Accept any deposit bonuses offered. Input a coupon code, if required. Bitcoin is an instant payment method. However, it might take a few minutes for the software to process the request. Now that you have converted Bitcoin into a casino bankroll, you may start playing.
How Bitcoins are sent
- In order for the player to send their Bitcoins to the online casino, they will need the output and private key. As mentioned above, the output is simply the casino’s wallet address and is a sequence of randomly generated numbers and letters –as is the private key. However, the private key should always be kept a secret, only to be known by the player and casino. The private key is then swapped, the transaction begins, and the verification process starts in the Bitcoin network. Once it is verified, the Bitcoin amount is then deposited successfully.
Transaction waiting times
Using Bitcoin can be fast, much quicker than using a check, or other methods which can take days to process. Each transaction takes roughly 10 minutes to be checked, while the miners are in charge of verifying. For larger sums of money, it will usually take multiple confirmations. In this case, it could take anywhere from 10 minutes up to a couple of hours for the currency to be verified and deposited into your account.
In order to be able to use, store, and transfer Bitcoins it is necessary for the player to install software called “wallets”. You can choose from cloud-based or direct software downloads to your computer. They all provide the same functions: transferring Bitcoins from one wallet to another and securing your Bitcoins.
Players choose a public “wallet address” and a private “personal address”, which should be kept entirely secret. The personal address is used as the key to your Bitcoin casino deposits and withdrawals.
After you have selected a Bitcoin wallet, you will need to buy Bitcoins from an exchange –top providers include Kraken or Circle. Once you have converted your currency into the world’s most famous cryptocurrency, you will have safety and privacy while you gamble online. Once you have a wallet and some Bitcoin currency, you may start making casino deposits.
Cloud wallets are the most convenient to use, as you can access them from any device that has access to the Internet. There is some risk, as you are giving the responsibility of your Bitcoins to a holding business, so you must be sure they are trustworthy.
These wallets are software programs that you download and run directly from your computer. This is a more secure option since the only way someone could access your Bitcoins would be by physically breaking into your computer.
Many casinos nowadays are accepting the popular cryptocurrency, Bitcoin. This allows players worldwide to make their monetary transactions (with many advantages) as an alternative to traditional payments, like credit cards. Some of these benefits include:
- Protection of the user’s identity
- Fast and safe transfers
- It is a global currency
- No credit card needed
- Low transaction fees
- A unique key prevents third parties from tracking or stealing your information
- Joining a Bitcoin casino and making a deposit only takes completing a few simple steps
- There are cloud-based or software wallet options for using, storing and transferring Bitcoins
As with all monetary transactions, it is advised that players look into the trustworthiness of their options. This is especially important when it comes to choosing an online or mobile casino, or the type of Bitcoin wallet they will continue to use. We hope to have provided useful information to get you on your way to using Bitcoin casinos safely. Make sure to check out our other articles with recommendations for using online casinos and virtual currency, and let us know what works best for you.