With the dominance of the digital age, cryptocurrency has emerged, a very secure and independent virtual payment method that allows players to place their bets using this method, if of course the casino accepts it.
It is a currency that is in vogue, thanks to the advantages and benefits offered to those who use it. This is why the number of online casinos that accept it as a payment method is increasing dramatically. Below are some details on how to use this currency at the various online casinos available.
What are Bitcoin casinos?
This is the denomination received by casinos that accept Bitcoin currency (BTC) as a method of payment. It differs from other traditionally used currencies such as the Euro, the Dollar or the British Pound, because it is not governed by the directives of a central bank, but by operations on the free market.
This currency can only be transferred from one user to another by calls to blockchains which are alphanumeric codes of 27 to 34 characters. While some casinos only accept Bitcoin as a payment method, others have added Bitcoin as a payment method in addition to traditional currencies as another alternative for paying for online casino games. They are called hybrid casinos.
The way they process the transaction is to accept Bitcoin deposits, process the withdrawal to the Bitcoin casino BetFury.io address provided by the customer, and convert the money to a traditional currency for convenience. How to get Bitcoins?
The traditional method is to buy the currency in places of trust. The easiest way would be to use a reliable currency exchange service such as Kraken, Bitstamp or Coinhouse. Another very common way is bank transfer. But there are other systems like credit cards or electronic wallets, plus you can make deposits in Ethereum or in Euros quite simply.
Once the location of the transaction and the method of payment are established, the cryptocurrency is purchased. These transactions are effective immediately and based on the prevailing exchange rates. The operation generates a minimum commission, almost negligible, compared to those managed at the level of electronic wallets.
How to deposit into your casino account?
At the time of registration, you must provide the Bitcoin address to which the deposit is to be made. Its materialization will take place almost instantaneously. Confirmation of the transaction by the blockchain is awaited and, once the money is available, you can start playing.
As with traditional currencies, online casinos have promotions in this type of currency that you should not miss, as they can increase your chances of winning.
How to withdraw your winnings?
To withdraw your Bitcoin earnings, withdrawals will be made to your declared Bitcoin wallet address. To withdraw any deposited fund, just wait for the blockchain to give a minimum of three confirmations of your deposit, before a withdrawal can be made.
If you want to keep your Bitcoins, it is advisable to have your own e-wallet which will remain password protected. However, keep in mind that the price of this cryptocurrency fluctuates frequently in the market.
What are the advantages of playing with Bitcoins?
There are many advantages to doing this. One of them is that it is a completely simple, reliable and free payment method. When playing with this currency, neither the casinos nor the player face any processing fees that save them money.
As Bitcoin is unregulated and has no type of connection with a bank or government, money that is processed through this means cannot be seized, confiscated or blocked, as can be the case with an account. with a traditional currency.
Many Bitcoin casinos only ask the player for an email address, in order to retrieve their password, without asking for personal information such as their address or full name. Therefore, the ability to remain anonymous is also a great advantage.
Bitcoin and online casinos
For those new to bitcoin, it is a virtual currency now available online. It is one of the most common and popular forms of cryptocurrency. Based on its popularity, many casinos now use it as an option for depositing and withdrawing funds. Another reason why so many casinos are embracing cryptocurrency such as Bitcoin is that it is so convenient, quick, and easy to use for deposits and withdrawals.
What are Bitcoin casinos
Bitcoin casinos are those casinos that now offer bitcoins as another option for players to fund their accounts. What makes bitcoin so different is that there isn’t a single institution like a bank that oversees it. It is a currency that is used between peers. The way they are transferred is by using addresses designated for the use of Bitcoin. These are complex addresses made up of numbers and characters.
Although some casinos accept bitcoin as a method of payment, namely hybrid casinos, some casinos are totally reserved for bitcoin deposits and withdrawals. Hybrid casinos will accept bitcoins for a deposit and then convert the value to a standard currency. Withdrawals will be transferred to the bitcoin address provided by the player.
How to get Bitcoins
For those who are interested in bitcoin as a cryptocurrency, they want to know how they can get the bitcoin. They will have to buy them and they will be able to use exchange services such as Kraken, BTC-e or Bitstamp as a resource. To receive bitcoins, they can be funded by wire transfer or use resources such as SEPA, ACH, or wire transfer. With some research, interested buyers may have other options for paying for bitcoin like some credit cards or some e-wallet providers. It may even be possible to use vouchers.
How to deposit into your Casino account
The process for depositing bitcoins at a Bitcoin casino is relatively straightforward. First, the player registers at the casino. Then, once they do, they will receive their Bitcoin address. This is the address used for all Bitcoin transactions between the player and the casino. The next process is to have the transaction confirmed by the blockchain for bitcoins. Usually there is not much delay with this. Generally speaking, it needs to be confirmed within the hour. Once this process has taken place, the money will appear in the player’s casino account, and they are ready to enjoy the fun that the casino awaits.
What players should also remember is to make sure they are aware of all the casino bonuses on offer. They should be available to bitcoin depositors just like they are to all other depositors. Rewarding multiple times the bonus will give players a chance to play with free money.
How to collect your winnings?
A Bitcoin depositor will find cashing out their winnings as easy as depositing. The player must send the coins to their designated exchange service address. The coins are then sold to this exchange and then have the funds withdrawn from them. This can take the form of a wire transfer or some of the other options they may offer. Most bitcoin experts suggest downloading a free Bitcoin wallet which should be properly protected with a strong password. Bitcoin users should also be aware that there are fluctuations in the prices of Bitcoin.