Most gamers often consider the available payment services when choosing an online casino. A reliable casino must offer safe, reliable, and quick deposits and withdrawals. And one payment method that offers these advantages and many more is Bitcoin (BTC). Bitcoin was founded in 2009 and ranks as the most popular altcoin available on the market. But this cryptocurrency might sound intimidating if you’re still a beginner with BTC gambling. In this post, we’ll teach you how BTC casino payment works and why you should consider it.
How to Make Casino Bitcoin Deposits/Withdrawals
Using BTC to make casino payments may sound complex for beginners. However, this digital coin offers one of the most convenient payments at the casino. To make a BTC deposit, follow these steps:
- The first step is to choose a BTC wallet like Coinbase, Electrum, or Blockchain.info. After that, purchase enough BTC to play, considering the current BTC exchange rates.
- Next, log into your casino account and choose Bitcoin under the deposit page. You’ll receive a unique Bitcoin address.
- Head to your BTC wallet and paste the transaction address provided by the gambling site. Usually, BTC deposits take no more than 5 minutes to reflect on gambling accounts.
- After depositing a BTC amount, open the casino library and play. If you win, head to the withdrawal page, choose BTC, and then paste the address given by the BTC wallet.
Advantages of BTC Gambling
Understandably, most online gamblers are still cagey about BTC payments. After all, we often use fiat currencies to transact occasionally. But the advantages of BTC are immense, and gamers should start taking advantage of this altcoin. Here are some of them:
The convenience crypto casinos can offer concerning payments is unmatched. Consider this; after signing up at an online casino, you’ll head straight to the cashier and make a BTC deposit. BTC players don’t need to provide the casino with card numbers or e-wallet emails.
This is arguably the main advantage of playing casino games using BTC. Bitcoin transactions use blockchain technology, offering a decentralised service on a peer-to-peer network. Put simply, central banks and governments don’t control the flow of this digital coin. So, if you live where the government is strict on online gambling, BTC and VPN should be your best bet.
All gamblers know the gut-wrenching feeling of waiting days to receive casino payments. To be fair to the casinos, these payments must go through multiple checks before the player gets their money. Even worse, bank card users can only receive their winnings on business days. But because BTC is a centralised form of payment, withdrawals are instantaneous. Most casinos take a maximum of 24 hours.
Big Bonuses and Transactions
Compared to fiat currency bonuses, BTC casino rewards can be mind-boggling. For example, a casino can reward newcomers with BTC 1 as a match deposit bonus. Considering the current rates, that can be a $28,000 welcome bonus, which is impossible to find in conventional casinos. But always read the BTC casino bonus terms and conditions to avoid abusing the reward.
A Word of Caution!
Before you consider using BTC at an online casino, it’s vital to note that BTC is a highly volatile digital coin. Just a few weeks ago, this coin was valued at $16,000 and is now at $28,000. In other words, the valuation of BTC can rise or fall, depending on the market valuation. Depositing or purchasing lots of BTC is a decision that could haunt you later.
In addition, players must not abuse the privilege of anonymous gambling that comes with this altcoin. The fact that BTC payments are anonymous doesn’t mean authorities cannot track down illegal gambling activities. Don’t use BTC at the casino for practices like money laundering or underage gambling.
Santosh Kumar, He is a SEO + Blogger have 12 years of experience in writing tutorial, informative and product reviews topics.