- »Top 8 Tips for New Online Casino Players Using Bitcoin
Top 8 Tips for New Online Casino Players Using Bitcoin
You’ve thought about it. It’s almost impossible not to. Bitcoin is in the news, some of your friends probably own some form of cryptocurrency, but it’s one of those things you just never got around to exploring.
Stuck at home on a semi-lockdown during a coronavirus pandemic might be the right time.
Bitcoin is the most common form of cryptocurrency and has been used longer than any other. And for online casinos and poker sites that do accept crypto, Bitcoin is the most common…and often the only one. It is the best for online gambling and other purchases, as it is also accepted at numerous online merchants as it becomes more standard.
There are multiple reasons to use bitcoin for online gambling. First, there are no bank fees and no costs associated with transferring money or using it to pay for things. Second, it leaves no paper trail, so any online play is as anonymous as your online screen name.
Most online casinos are also able to accept deposits and issue withdrawals immediately, while other methods can require days for withdrawals.
Here are a few tips on getting started in the world of bitcoin.
Create a bitcoin wallet.
Bitcoin users need a virtual wallet, many of which can be found on Blockchain.info or Bitcoin.com, or in the Google Play or Apple Store.
Wallets are free and serve as a virtual address for bitcoin transactions.
Many of the sites that offer bitcoin wallets will also offer bitcoin, but there are also exchanges like Bitcoin.org or Coinbase.com. Anyone can buy bitcoin with a credit card or PayPal.
There is also the option to mine for bitcoin. There are various free software options that teach people how to mine for crypto, but it does take time and patience.
Know your bitcoin value.
The value of bitcoin changes constantly. Most sites affiliated with bitcoin will display the latest value, but sites like CoinDesk.com keep the values right on the home page at all times.
New bitcoin users should learn what one bitcoin is worth and how to break that down into much smaller parts. Most people don’t want to deposit $10,000 into an online casino account, but that could be one bitcoin. Learning the value of the bitcoin and its breakdowns will save time and money going forward.
Search for the right bitcoin casino online.
Many of the top online casinos open to Canadian players do accept bitcoin.
Check out the reviews and welcome bonus offers. You can go to the site to navigate around to see if you like the games offered and the setup of the casino.
Open an online casino account.
The first thing to do on the chosen site is to set up an account. This requires some basic information, choosing a name and password, verifying identity. Most sites go through a quick but thorough process to verify age and identity.
Find out how to deposit with bitcoin.
For first time bitcoin users, it is best to read the information on the website. If anything doesn’t make sense, any customer service representative will help walk the player through the process of making the initial deposit.
Don’t forget to use our welcome bonus offer! Often, it will provide free play, deposit matches, or some type of offer that usually doubles the amount of money in play.
Most bitcoin transactions are instantaneous, meaning the player can begin choosing games and playing right away.
Once winnings accumulate and it is time to withdraw some of those winnings, read the casino’s withdrawal policy. If anything is concerning, contact the customer representative again. It’s their job to guide you through the process.