Bitcoin has had a long journey, from absolute oblivion to become one of 2021 most trending topic. But not everyone knows how to deposit or withdraw money in an online casino in 2021 using bitcoin. That’s why we’re going to talk about how you can proceed using the cryptocurrency as your preferred payment method.
The reason why it’s so important to actually know how to place a deposit and a withdrawal with bitcoin is because not only are new casinos including bitcoin as one of their payment methods, but because there are also specific Bitcoin Casinos, which offer fantastic casino games and also casino bonuses!
Depositing with Bitcoin
It’s time to learn how to actually deposit with bitcoin. Let’s take a step-by-step look.
First of all, you need to find the deposit section in a crypto casino. These casinos are not exclusively limited to cryptocurrencies, but they are the most preferred ones. Once you select BTC as a payment method, you will receive a public key that belongs to your account. Next, you need to choose how much you want to deposit. This is done in bitcoins, but usually casinos will help you with this by offering a calculator for your exchange currency.
Now this is where things get a bit complicated, because you have to make the transfer yourself! For this, you need to go to your bitcoin wallet and enter the public key to transfer the money to your account. In addition, you will also need to enter the fee.
Once you send the money off, your money will become part of the famous blockchain network. This is used to verify your transaction and then execute it. After that, the payment will be found completed in the blockchain. This will unlock your funds in your casino account.
Withdrawing with Bitcoin
Let’s now take a look at what withdrawals mean in a bitcoin casino. The withdrawals themselves are not as complicated as the deposits, however, you will have to collaborate a bit with the casino as the withdrawals need to be monitored. But if you trust your online casino or mobile casino, then this won’t be a problem. Besides, the casino will always be able to help you as much as possible.
Before anything else, you must always go through the KYC procedure. These initials, KYC, stand for: Know Your Customer. This is a must, because it is the main procedure against money laundering on the Internet. In order to make payments, the user’s identity must be proven. For this, the customer support of an online casino will ask for some details, such as a copy of your driver’s license or ID card. You need to do that in order to receive your payments, directly on the casino site or by emailing the customer support.
Well, once you have done that, then you can start withdrawing your money. Don’t worry about the verification process, because it usually doesn’t take more than a day or so. So, if you want your money, you need to provide the casino with your public key, which is usually done during the withdrawal request. After that, the casino sends your money to the P2P network on the blockchain, and in turn has to wait there for it to be approved.
Lukas is the head author at Casinoble and responsible for all content strategies and what casinos we review.
Lukas has a background of playing poker in the early years of the poker boom in Europe. He became an expert within the online gambling and has been working as an author for several websites.
Alternative Languages: English
