Bitcoin and Online Casinos
For those that are new to bitcoins, this is a virtual currency that is now available online. It is one of the most common and popular forms of cryptocurrency. Based on its popularity, many casinos are now using it as an option for both depositing and withdrawing funds. Another reason so many casinos are adopting cryptocurrency such as Bitcoin is that it is so convenient and quick and easy to use for both deposits and withdrawals.
What are Bitcoin Casinos
Bitcoin casinos are those casinos that are now offering bitcoins as another option for players to fund their accounts. What makes bitcoin so different is that there is no one establishment like a bank that oversees it. It is a currency that is used between peers. The way they are transferred is with the use of addresses that are designated for bitcoin use. These are complex addresses that are made up of numbers and characters.
Although there are some casinos that are accepting bitcoins as a form of payment which is hybrid casinos, there are some casinos that are totally designated to bitcoin only deposits and withdrawals. The hybrid casinos will accept bitcoins for a deposit then convert the value to a standard currency. Withdrawals will be transferred to the provided bitcoin address that the player gives.
How to Get Bitcoins
For those that are interested in bitcoins as a cryptocurrency, they want to know how they can get the bitcoins. They will have to buy these, and they can use exchange services such as Kraken, BTC-e, or Bitstamp as their resource. To receive the bitcoins, they can be funded with a bank transfer or use resources like SEPA, ACH or a wire transfer. With some research interested buyers may other options for paying for bitcoins like some credit cards, or some e-wallet providers. There may even be an opportunity to use payment vouchers.
How to Deposit Into Your Casino Account
The process to deposit bitcoins into a bitcoin casino is relatively simple. First, the player registers with the casino. Then once they do, they will receive their bitcoin address. This is the address that is used for any of the bitcoin transactions between the player and the casino. The next process is having the blockchain for bitcoins confirm the transaction. Usually, there is not much of a delay with this. Generally speaking, it should be confirmed within the hour. Once this process has taken place, the money will show in the player’s casino account, and they are ready to enjoy the fun that the casino has waiting for them.
What players should not forget about either is to make sure they are aware of any casino bonuses being offered. They should be available for bitcoin depositors just like they are for any other depositors. A reward of many times the bonuses will give players a chance to play with some free money.
How to Cash out Your Winnings?
A bitcoin depositer will find cashing out their winnings to be just as easy as it was to deposit. The player has to send the coins to their designated exchange service address. The coins are then sold to this exchange service and then arrange for the funds to be withdrawn from them. This may be in the form of a bank transfer or some of the other options they may offer. Most experts in bitcoins suggest doing a download of a free bitcoin wallet that should be properly protected with a strong password. Bitcoin users should also be aware that there are fluctuations that take place in bitcoin prices.
What Are the Perks of Playing with Bitcoins?
There are plenty of great benefits to using bitcoins to fund and withdraw from a casino account, such as:
- The process for depositing comes with no charge, and it is super easy to do. Undoubtedly it is also a very safe and secure method for funding a casino account. It is not unusual for players using standard depositing methods to have to pay a fee on their withdrawals because of the processing. With bitcoins, this is not an issue as these fees don’t exist. So its a win-win situation for both the casino and the player.
- There are no formal institutions like banks or government regulations when it comes to bitcoins. These entities have no access to the funds, such as being able to freeze the funds, which is always a possibility with traditional currency. This is a benefit that is important to those who are enjoying online casinos where it is not legal in their country to do so.
- Online gambling anonymity is another huge benefit. Bitcoin casinos usually only require the player to provide an email address and password. Usually, there is no requirement to provide any personal information.
Games at Bitcoin Casinos
What is exciting is that Bitcoin Casinos, for the most part, are like any online casino, meaning they offer all the same types of games. Which include the slots and table games. Probably is present at the Bitcoin casinos which is an indicator of fair play. Players can confirm this with the use of bet ID numbers along with additional information. This will vary according to each Bitcoin casino site.