Bitcoin is a currency type that can’t be given by banks. Neither has a physical cash representation. Millions of people and businesses all over the world have started using this virtual currency. This includes the online gambling industry too. Casino operators and their players make bitcoin transactions between each other and reap the benefits such as quick processing time and lower fees. Dozens of verified bitcoin online casinos offer a unique portfolio of BTC games and instant withdrawals.
Legit Bitcoin Casinos
Bitcoin sites that we recommend are safe to use. Aside from the security measures casino operators employ, bitcoin itself protects your identity allowing you to make casino payments anonymously. You don’t have to share any personal or banking data to request a transaction. Just enter your bitcoin wallet number and wait for your funds.
Setting Up for Bitcoin Gambling
In general, cryptocurrency is easy to use, especially via a mobile app. But before you use bitcoin at your casino, you need to purchase the currency. If you don’t have it yet, here’s how to get started:
- You need to get a digital wallet where you will store your bitcoin. So, google for any bitcoin wallet and choose the one that suits your preferences. Register your account.
- You can buy BTC from traders, which is the easiest way to get bitcoin. Use the bitcoin currency exchange.
- As soon as you get some bitcoins on your wallet, you can start off playing casino games. Sign up for a verified bitcoin casino we recommended earlier.
Making Bitcoin Casino Deposit
By the time of depositing, you should have a certain amount of bitcoin in your digital wallet. Make sure it is enough to outreach the minimum deposit limit. Follow these steps to make the right deposit using bitcoin:
- Log in to your casino account and head to the banking page.
- In the deposit section, find “Payment Methods” and select Bitcoin.
- Then, the casino will provide you with a specific web address. Copy it.
- Head over to the Bitcoin wallet to make a transaction and paste this address into the specific tab for sending coins.
- Enter the number of bitcoins for the deposit and confirm payment.
- Just a few moments later you can observe your funded casino account.
Requesting Bitcoin Withdrawal
Cashing out via a bitcoin wallet is also a very easy and straightforward process. Take the following steps to make the withdrawal transaction:
- Open the cashier page you used to deposit, but head to the “withdrawal” section.
- Among payment options, choose Bitcoin.
- Enter the amount of BTC you want to cash out.
- Then, you should go to your bitcoin digital wallet and copy its address, on which you will receive the transaction.
- Go back to the casino withdrawal and paste the address into the specific field. Double-check the address you provide; you cannot undo the transaction.
- Confirm the withdrawal request and wait for your money.
Normally, if you do everything right, bitcoins should appear in your wallet within a few hours. It takes no longer than 24 hours to process the transaction. If you haven’t yet received your winnings after this time period, contact customer support and make sure you made the request right.
Pros and Cons of Bitcoin Casino Transactions
Obviously, there are some positive and negative points any bitcoin casino has. Check them out down below to understand if this type of payment method suits you.
- Waiting time — a few minutes
- Anonymous transactions
- You can use a bitcoin wallet mobile app
- High level of security
- No or low fees for a transaction
- A new currency that hasn’t yet been fully tested
- Difficult to understand
- The value of bitcoin often fluctuates
How Safe Are Bitcoin Casinos?
Nowadays, Bitcoin and cryptocurrency as a whole are some of the safest methods of payment. Having one doesn’t involve personal names, bank accounts, and other private information that can be exploited by fraudsters.
Bitcoin transactions are also highly protected by digital encryption. Still, there is a number of verifications carried out during the process of transferring bitcoins. In other words, bitcoin transactions are completely secure and untraceable, which is why it’s the safest way to pay for online gambling.
Online casinos that accept bitcoin also protect their data and players’ data. They use SSL encryption and other technologies that ensure safe gambling.
How to Stay Anonymous at Online Casino
It is quite common that casino players want to be anonymous when playing games. They don’t want banks or somebody else to know about their hobby. Besides, no one wants to send private information (whatever it is) to the Internet. And bitcoin transactions can perfectly deal with this problem. Here are a few things you can do to protect your privacy:
- Your bitcoin wallet can require you to verify your account details. But do not share any personal information with the wallet. This ensures the complete privacy of your name and other information.
- If you keep your funds in BTC only, no bank can trace your transactions.
- You can generate a new web address for your wallet for each casino transaction. Just head to your BTC wallet and request a new address.
- Finally, play at the verified bitcoin casino sites only.
Use Bitcoin For Gambling
It is not an obligation, it’s just a recommendation. Determine if the bitcoin payment method suits you. You can use it once or twice just to try out bitcoin casinos. If you don’t like it, you can always go back to gambling in CAD. But once again, we remind you that playing at casinos using bitcoin is beneficial. First of all, it is guaranteed anonymity as cryptocurrency cannot be tracked by banking institutions, which is also helpful for online gambling no ID. With this in mind, Bitcoin transactions are secure because they undergo several encryptions and verification procedures. On top of it, Bitcoin transactions are faster than any other payment option your online casino offers.
A bitcoin wallet is an instrument that stores your BTCs. Using this digital wallet, you can transfer bitcoin and make deposits to online casinos. Besides, you can receive bitcoins and BTC withdrawals in your wallet. However, before making any kind of BTC transaction, make sure you enter the correct number of your bitcoin wallet.
Normally, when you buy or send bitcoins across the internet, there are no fees at all. Thus, you can make bitcoin transactions without paying extra money. But when it comes to bitcoin gambling, online casinos may take processing fees. It depends on casino rules only. So, before you join a bitcoin casino site, check the information about the fees.
Bitcoin transactions are almost instant. Unlike traditional payment options, bitcoin transactions do not involve processing time. That is why the Bitcoin payment method is the fastest that online casinos can offer. Still, it is advisable to check with your casino site how long bitcoin transactions take.