- »How to Start Using Bitcoin for Online Casino Games
How to Start Using Bitcoin for Online Casino Games
Everyone is talking about cryptocurrency, and that usually means Bitcoin. The digital currency has many functions, one of which includes being able to use it playing games at online Bitcoin casinos. Furthermore, more casinos online are offering Bitcoin as an option for both deposits and withdrawals these days. Therefore, it is important to know how to get started using Bitcoin for casino play online.
Bitcoin: King of Cryptocurrencies
Cryptocurrency is a digital form of currency, a digital asset that serves as a means to buy and sell things of value. It works much the same way as physical currencies like the Canadian dollar. However, cryptocurrency operates solely online with no physical paper or coin-based money to physically handle.
People have grown to like it because it is not overseen by a governmental authority. There are no fees to keep cryptocurrency in a bank either, no interest charges levied, nor any costs involved in moving it around.
Bitcoin is the most popular form of cryptocurrency, as it was the first and remains the most recognisable.
Getting Started Playing at Bitcoin Casinos
Online casino players have begun using Bitcoin for gambling transactions because of its ease and speed of transfer and its anonymity. In other words, there are no paper trails from banks or credit card companies – or even ewallets – to trace the money back to a person’s private choice of gambling entertainment.
Here are the five simple steps involved in getting started at Bitcoin Casinos:
1. Create a Bitcoin Wallet
For a player who has never dabbled in cryptocurrency, there are a few steps to get started. And the very first step is to create a Bitcoin wallet.
A quick online search will bring up a number of Bitcoin wallet options. Choose one that works best for desktop or mobile use, whichever is most appropriate. Blockchain.info or Bitcoin.com are the best places to go for easily downloadable wallets, but there are also some in the Google Play Store or Apple Store. There should be no charge for a wallet.
The wallet will then serve as a Bitcoin address for making deposits and withdrawals from online casinos.
2. Buy Bitcoin
There are several ways to buy Bitcoin. The simplest will be to buy Bitcoin from the site that offered the wallet. Another way is to find a Bitcoin exchange like Bitcoin.org or Coinbase, which allow the purchase of Bitcoin with more traditional forms of currency like credit cards or PayPal.
Another way to start from scratch and not use any traditional currency is to mine for Bitcoin. This takes a little time but costs nothing. A person can download free software that helps with the mining process, which will then run on its own. However, this process can take a lot of time. Moreover, it will require some time to educate oneself about Bitcoin mining and some patience while searching for it. Nevertheless, it can be done for free.
3. Research Bitcoin Value
Since most people are more familiar with traditional currency to determine something’s worth, it will take time to get adjusted to working with cryptocurrency.
A site like CoinDesk will keep Bitcoin users up to date as to the value of their Bitcoin, but most currency exchanges now do it as well. A simple Google search for the price of Bitcoin brings up its current value as compared to the Canadian dollar.
Since one Bitcoin can be worth more than CA$10,000, it is also good to learn how to break down the value of a Bitcoin into usable pieces that will be used in online casino transactions.
4. Find a Bitcoin Casino Online
Some online casinos have opened up the option to deposit and withdraw with Bitcoin. Not only is it easier than dealing with banks and credit card companies, it is much faster and cheaper.
Other casinos are considering a Bitcoin option for their player but have yet to implement it. It doesn’t hurt to reach out to those online casinos to urge them to offer Bitcoin to earn more business.
5. Deposit Bitcoin at an Online Casino
Casino sites that offer Bitcoin options make it very easy to deposit and withdraw funds, taking players through each step with careful instruction.
The player must authorise the transfer of Bitcoin to or from their Bitcoin wallet, and it is typically an instant process. By telling the Bitcoin wallet to send money and providing the online casino’s Bitcoin wallet address (all provided by the online casino), the transfer is complete. And when withdrawing casino winnings, simply enter the Bitcoin wallet address in the casino account section and authorise the transfer.
Customer service representatives can also answer any questions or facilitate deposits and withdrawals.