Bitcoin is a well-known digital currency that can be used for payment making and cashing out at online Casinos. It’s a banking option available to all players worldwide provided you own a Bitcoin wallet which is compulsory for you to store, send and receive coins.
As a digital currency, the use of Bitcoin at gaming sites is very simple taking only a few minutes, due to the fast processing of deposits plus the lower fees charged during the same. This form of currency is also exceptional for mobile gaming transactions.
You have to meet a couple of easy conditions before being able to deposit coins into your account. First, you have to create your personal Bitcoin wallet by signing up at a respectable company amongst the very best in offering this service. Just but a few companies to consider when looking for your digital wallet provider are Hive and Armory.
Choosing a wallet from a reputable company will enable you to protect your coins anytime you’re not using them. This normally takes a few minutes because only on provision of your username, password and email address you’ll be through with signing up for your wallet. Below are examples of wallets you can choose from;
- Hardware Wallets: Trezor or Ledger
- Cloud wallets: Coin Base and Blochain.info
- Desktop client wallet: Electrum, and Bitcoin Core
After getting your wallet you’re able to receive payments from your wallet supplier-given address but if any case you want to use the online casinos for making payments, topping up your Bitcoin wallet will be necessary. There are a number of ways by which you can buy Bitcoins.
The easiest way involves visiting a Bitcoin exchange from which you can enter the amount of money you’re willing to spend on coins, type in your wallet address then select a payment method. In a matter of seconds, you shall have received funds at the given address thus be ready for use. To increase your scope and flexibility, here is a description of this and other methods you can use to get Bitcoin.
Listed below are some of the means by which you can acquire Bitcoins;
Exchanging your Fiat at a Bitcoin ATM-here you’ll be able to acquire Bitcoins through this if there is a Bitcoin ATM around you. It entails inserting bills into a slot on the machine and displaying the QR code representing your wallet public address on a scanner. You can visit Coin Base Bitcoin ATM Map for a list of updated Bitcoin ATMs
Buying from Bitcoin Exchanges–this is the most used way of getting Bitcoins. Bitcoin exchanges are online platforms from which one can buy and sell Bitcoins. Most common ones include Bitstamp and Coin Base.
Acquiring resources and mine-this used to be the best option during the early days of Bitcoin but due to the increased difficulty in mining with time, it’s never a way you can easily rely on.
Now that you have your Bitcoin wallet loaded with bitcoins and you want to make Bitcoin deposit at an online casino operator of your choice, the question now becomes; How do you do it? You should never worry about that because Bitcoin deposits are done in few minutes.
To start making your deposits, you have to visit the cashier while logged into your account then select Bitcoin. On the deposit screen, there will be the Casino’s wallet address you’re to use while making payment plus the QR code to be scanned, an excellent option for mobile gamers.
In a case where the mobile device with your bitcoin wallet has got a camera, send in the wallet, input the gambling site’s address and scan the QR code. Enter the amount you’re to send from the device and hit the `send’ button. Copying and pasting the public address into the text form your wallet is another option. This would apply in a case where your wallet device lacks a camera for scanning the QR code.
You’re reminded never to transfer your Bitcoins directly to the casino account from an online exchange. First, transfer them to your wallet then send to the online casino. Wondering why? This is because a number of cases where online Bitcoin exchanges block client accounts due to such transfers have been reported.
It’s also important making sure the amount you’re sending or depositing be inclusive of the miner’s fee which goes to those maintaining peer to peer network responsible for supporting, verifying and confirming Bitcoin transactions. Hitting the send button on your wallet, it will take a few minutes and the money will be reflected on your account’s website. After that, you’re now ready to kick off placing bets on the go via your mobile device or however else you like it.
From the above guide, you can now see that making deposits using Bitcoins is not a difficult process being more straightforward than methods such as the use of credit card. Provided you have your Bitcoin wallet funded it’s fast and very cheaper than any other online monetary transaction.