Your guide to gambling online with Bitcoin
Want to gamble online but not sure which is the right deposit option for you? Bitcoin is the answer. Looking to switch your casino deposit option to something safer and more affordable? Bitcoin checks all those boxes and more!
Ever since its launch in 2009, Bitcoin has revolutionized the financial industry. Making a name for itself as the first cryptocurrency in existence. Since its introduction, it has paved the way for a range of other cryptocurrencies. And has soared in popularity across a diverse range of industries, including online gambling. So if you’ve been wanting to explore Bitcoin as an online gambling payment method, or want to learn why it’s particularly suited to gambling online, then read on – we’ve got all the inside info you need!
What is Bitcoin?
You may have heard the term ‘decentralized’ before about Bitcoin, and that’s exactly what it is. A decentralized digital currency that exists online only. Operating without a central authority, bank or administrator in charge.
First introduced as part of a 2008 whitepaper by the anonymous group or individual known only as Satoshi Nakamoto. Bitcoin launched in January 2009 with the mining of its very first block, the Genesis Block.
Since then, hundreds of thousands of people have begun to trade and use Bitcoin as one of their preferred currencies. Enjoying benefits like low transaction fees, easy payments and complete anonymity. Everything a reputable payment mechanism should offer. Want to try it for yourself sometime? There’s no middleman and no waiting – just you. Bitcoin and seamless online gambling transactions.
Why is Bitcoin so popular?
Why indeed? Let’s take a look:
It’s decentralized: Bitcoin operates on a decentralized network, free from control by individual groups, entities or authorities.
It’s finite: There’s no endless supply of Bitcoin which makes it that much more desirable. In fact, only 21 million Bitcoins will ever be made.
It’s accepted globally: Bitcoin is accepted by thousands of merchants, stores and service providers worldwide, and is has been legalised in over 100 countries.
It’s safe: All Bitcoin transactions are instantly verified and recorded on the blockchain – a public ledger that can’t be compromised or hacked.
How secure is Bitcoin?
Continuing on the theme of safety, it’s crucial to take a closer look at Bitcoin’s safety measures and protocols, particularly given its digital nature. As we touched on in the previous section, all Bitcoin transactions are secured and verified through the blockchain – a public ledger or database that instantly records all transactions and offers a host of additional security features, including:
Transparency: The public nature of the blockchain ensures complete transparency at all times, with a lower risk of fraud.
Anonymity: Transactions on the blockchain record transparently and publicly. But identities are not, meaning you’ll be able to stay anonymous the entire time.
Irreversibility: Once a transaction has been made and recorded on the blockchain, there is no way to change or delete it, meaning that your data is safe at all times.
Added security: Thanks to the stringent encryption technology in place, blockchain transactions have an added level of security against online hacking and theft.
What are the benefits of using the cryptocurrency for online gambling?
Although its rise in popularity has been quick, Bitcoin isn’t a fad. In fact, it offers real, tangible benefits for online casino players that can help to enhance their overall gambling experience:
Anonymity and privacy: With no personal details needed to make Bitcoin transactions, you’ll be able to maintain your privacy at all times.
Low transaction fees: With lower fees in comparison to traditional banking options, Bitcoin’s affordability factor is a distinct advantage.
Speedy transactions: Bitcoin deposits and withdrawals process almost instantly.
Global accessibility: Playing in a country with restrictive banking regulations? No problem! Bitcoin’s global accessibility means you’ll be able to use it wherever you are.
Watertight security: Extra levels of security and state-of-the-art encryption technology ensure your transactions are free from fraud and hacking.
Making crypto online casino deposits
First things first, you’ll need to open a Bitcoin account (known as a Bitcoin wallet) so you can store your crypto and make transactions. Sites like bitcoin.org will help you do this quickly and easily.
Once your wallet is in place, you’ll then need to fill it with Bitcoin. To do this, you’ll need to purchase Bitcoin from a crypto exchange online.
When you’ve got your Bitcoin in your wallet, now comes the fun part – playing at the casino! Simply choose a casino that you know accepts Bitcoin, and sign up.
Visit the casino’s cashier, or banking section, and choose Bitcoin as your preferred deposit method.
Go to your Bitcoin wallet, enter the casino’s address, plus the amount of Bitcoin you want to deposit into your account, and confirm the transaction.
Your transaction confirms on the blockchain, and your funds are available for you use in no time.
No stress, no fuss – just simple deposits in minutes!
Making Bitcoin online casino withdrawals
When it comes to making Bitcoin withdrawals from your casino account, you’ll find the process just as simple:
Visit your casino’s cashier or banking section, and choose Bitcoin as your preferred withdrawal method.
Enter the address of your Bitcoin wallet,
Enter the amount you’d like to withdraw, and confirm your transaction.
What kind of players should use the cryptocurrency?
Not sure if Bitcoin is the right deposit option for you? Take a look at which types of players it can help benefit the most:
Slots players: Speedy transactions mean you’ll be able to deposit your casino funds in minutes, giving you more time to play and more time to spin!
High rollers: Got large amounts of cash in your account? Bitcoin’s lower transaction fees mean you’ll keep more of your money, while stringent security ensures it’s always safe.
Privacy-conscious players: If you like keeping your business private, you’ll love Bitcoin. No personal information shared, and complete privacy and anonymity at all times.
International players: Forget about restrictive banking laws or limited access to traditional banking methods. With Bitcoin, you’ll have global access whenever and wherever you are.
Are there any more benefits to the crypto?
You bet! We ran through many of them already.
More freedom: Thanks to the decentralized nature of the cryptocurrency. It exists outside government regulations and banking restrictions, giving you more flexibility and more freedom.
Greater Rewards: Choose to make your casino deposits and withdrawals with this cryptocurrency. And you could qualify for certain bonuses, promotions and special offers at dedicated crypto casinos, giving you premium value for money.
Added winning opportunities: In order to incentivize play, many Bitcoin casinos offer a lower house edge than traditional gambling sites (often around 1.5 to 2% lower than the average) which increases your winning chances at the same time.
Investment potential: Make your Bitcoin work for you! Given its potential to appreciate in value, funds that you withdraw from your casino account and store in your wallet could increase in value over time, giving your finances a welcome boost.
It’s rewarding, it’s flexible and it could help to increase your winning chances at the same time.
What’s not to love? Plus, start using Bitcoin as your preferred online gambling payment method and you’ll qualify to play at a host of dedicated cryptocurrency casinos, giving you more choice, more places to play, and more ways to win!
The security is stringent!
The cryptocurrency’s stringent security is worth mentioning again too. If you only transact in regular currencies such as dollars, pounds or euros before. And find the idea of cryptocurrency overwhelms you, you’ll be pleasantly surprised by just how simple and secure making payments in Bitcoin can be. All your transactions are instantly recorded and verified on the blockchain, and cannot be altered at a later date, and all your payments are secured by state-of-the-art encryption technology for added peace of mind.
As you can see, when it comes to speed, privacy and affordability, this coin scores highly across all metrics. Making it an ideal choice for online casino players. Whether you want to spin the slots or play your cards close to your chest. It has all the advantages you need to enjoy safe, seamless banking, and ease of use too. So why not try it for yourself today and find out first-hand just how beneficial it can be? It’s a new world of banking out there, and Bitcoin is leading the pack!
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