If you are looking for a fantastic gambling experience at Bitcoin casinos, look no further. We are here to show you the side of online gambling you’ve probably never experienced before. Whether you are a novice or a seasoned player, stick around for the ride as we embark on a journey through the lucrative world of online casinos made even more exciting with Bitcoins.
Imagine your favorite casino game. To play you’ll have to make a deposit and then cash out your winnings. The process could take a while. However, add Bitcoins to the mix and you can enjoy a new way of gambling online with speedy, simple transactions made with the digital currency. And, it’s provably fair, so it’s time to get your bitcoins and head to a casino. But before we delve into the world of bitcoin casinos, let’s learn more about the digital currency and how you can get started.
Launched in 2008, Bitcoin is now the top crypto-currency with a huge user base of over 2.5 million. Being a virtual currency it is easier to transact. This means you can have funds available in your casino account to play your favorite games in an instant and be able to withdraw all that you win as swiftly as well.
So where is the money stored? It’s all in what is known as a Bitcoin wallet, much like a personal bank account. For the most part, bitcoin exchanges are sites where users can buy and sell bitcoins much like on a stock exchange with a bid price and offer price. Some of the popular bitcoin exchanges are Kraken, Bitstamp, Coinbase, and Cryptsy, which supports a wide range of currencies.
Without getting too technical, the exchange of the digital currency between wallets is approved by bitcoin miners. Specialized software and hardware are used to maintain the integrity of transactions. In short, bitcoin miners verify the digital currency’s transactions to ensure that there is no fraudulent exchange of currency. Miners verify the authenticity within a bitcoin’s block chain by placing transactions in a locked area. The process allows that the digital currency to remain decentralized while users can retrieve new bitcoins.
To get bitcoins you will need a bitcoin wallet that is currently available in three types. Users can choose online wallets that allow them to store their bitcoins in the cloud. Since backups are automatic this is one of the safe options. BlockChain, copay.io and bitgo.com are among the popular wallets.
Advanced users have the option to use software wallets like Electrum and copay.io. You get to store bitcoins on your own computer and backup you wallet manually.
Hardware wallets like Ledger offer the maximum security and are recommended for advanced users. Accessing the wallet is only possible via special software that plugs into the USB port of your PC.
There are loads of options when it comes to purchasing Bitcoins, which can be done directly at a bitcoin casino. You can use a credit card, debit card, wire transfers, and a whole load of eWallets. The purchase takes place through bitcoin exchanges such as Cubits, Kraken, Coinbase, and Bitstamp. You can exchange any currency for bitcoins at one of these exchanges and then have the funds transferred to your casino account.
There are some really valid reasons why Bitcoin casinos continue to attract a large number of members. And it all begins with the fact that it offers complete anonymity. Users do not need to reveal their identity and personal information when making bitcoin payments. This keeps everyone safe from identity theft.
Play at a bitcoin casino and you get to benefit from a low transaction cost. The processing fee is minimal while in most cases there is no fee involved. This makes it more worthwhile than other payment methods such as credit cards.
All transactions are processed in real time which allows for speedy deposits and withdrawals.
If you are wondering about the legality of it all – Bitcoin casinos are legal. Regulations may vary from one country to another but national regulatory bodies do keep a close eye on bitcoin. For the most part, bitcoin wallets are regulated by bodies such as the US Commodity Futures Trading Commission in the US.
At the time of writing 1 bitcoin is worth around $668. However, you don’t need even a fraction of that to play your favorite games at a bitcoin casino. While the minimum deposit varies from one casino to another it is generally around 1mBTC or milli-bitcoins, which is approximately $0.65c. Therefore, betting on table games can cost as little as 0.1 mBTC or $0.06 while slots are going to cost even lesser.
Banking at a bitcoin casino is a breeze. You can get started playing in a few minutes. Once you register for an account all you need is to go to the cashier’s section and copy the bitcoin address of the casino and send the amount you want to deposit in your account to that address from your bitcoin wallet. Most casinos allow you to directly purchase bitcoins.
Cashing out winnings is just as easy. Simply enter your wallet’s address in the withdrawal tab and the amount you want to withdraw. Withdrawal requests are processed instantly and you can expect the funds in your account in less than 12 hours.
You can look forward to an excellent range of slots and table games at bitcion casino. Many feature poker rooms and live dealer games for the ultimate gambling experience as close to a real land-based casino as possible. These come along with some fantastic offers that include nifty welcome bonuses, cash back offers, reload bonuses, and much more. It’s a pretty good deal so why not go ahead and check out some bitcoin casinos right now.