Using Bitcoin to Deposit and Withdraw At Casinos
Bitcoin casinos are making waves in the world today, but many players remain confused as to how to use Bitcoin to make deposits at an online casino. Most gamers know that paying with Bitcoin means bypassing banking transactions while remaining anonymous and staying away from prying eyes online, but few know how to make a deposit with Bitcoin.
Bitcoin was first introduced to the online casino world in 2012, and although it has taken a few years for it to really catch on, nowadays you’ll find most reputable online casinos are beginning to facilitate both withdrawals and deposits via Bitcoin.
As a new Bitcoin user, you won’t have to worry too much about the technical details, you can start using Bitcoin without really understanding much about digital currency. Think of it this way, it’s just like good old-fashioned buying and selling, but with digital currency.
How To deposit Bitcoin
Before you can make a Bitcoin deposit, you’ll first have to setup an online Bitcoin wallet, much in the same way as a bank account or PayPal account works. There are hundreds of different sites where you can download a Bitcoin wallet, almost all of them are free.
Once you’ve downloaded your Bitcoin wallet, the next step is to purchase Bitcoin, and while they’re freely available on the open market, your wallet will more than likely be able to facilitate a purchase of Bitcoin. The process is similar to buying consumer goods online, you’ll have to provide some basic financial information such as name, credit card number, and a physical address. There’s nothing really confusing about buying and using Bitcoin to gamble, think of it this way, you’re not buying Bitcoin as much as you’re exchanging your currency for another currency, with the only difference being that Bitcoin is strictly digital.
Now that you have your Bitcoin wallet and it’s loaded with Bitcoin, the next step is to take your Bitcoin, head off to the online casino and load them to your online casino player account. If you’ve already deposited at an online casino you’ll know that to make a deposit, for example with a credit or debit card, means typing in your credit card information and executing a deposit, but with Bitcoin, the casino will only need your Bitcoin wallet address and the desired deposit amount. As soon as this information has been inputted, it’ll take only a few seconds for the transfer to be completed and you’ll be ready to play your favourite real money games.
A very important point to note is that the value of a single Bitcoin is almost always going to be well over $€100 and if you’re a conservative player and only want to deposit something like $€50, you can. When you make a deposit at an online casino, you won’t deposit 1 Bitcoin but a fraction of Bitcoin, so when you see the value of a Bitcoin, don’t be scared away as you can very quickly and easily deposit .1 Bitcoin. However, most online casinos that have Bitcoin as a deposit method will allow you to play your Bitcoin in terms of your own currency. This means that instead of placing .0001 Bitcoin bets, the amounts of your wagers and can be displayed in your currency, or any currency you’re accustomed to using.
How To Withdraw Bitcoin
Withdrawing your Bitcoin is a very simple process, click on the banking interface and select the Bitcoin withdrawal button. You can now select the amount you wish to withdraw and it will then be sent back to the Bitcoin Wallet account.
Pro’s and Con’s Using Bitcoin
One of the biggest advantages of using Bitcoin for real money online casino gambling is the amount of fees you’ll be forced to pay, zero! While other banking methods charge a pretty package to withdraw your funds, Bitcoin transactions don’t carry any fees whatsoever, and those that do charge, the fees tend to be very small and manageable.
Another advantage is that Bitcoin withdrawals happen instantaneously, meaning that you no longer have to worry about long processing times.
Bitcoin also means that your personal information will be kept safe. You won’t have to enter your personal and financial information at an online casino as Bitcoin requires that you do no more than supply the address of your wallet, which is already encrypted for added security.
If you’re interested in Bitcoin casinos, make your deposit today, play your favourite casino games and then withdraw your winnings at no extra fees! Have a look at our pages and register at a Bitcoin casino today! It’s the most forward thinking way to play your favourite slots and casino games.