Online casino players would have to have been hiding under a rock for the past few years if they haven’t heard about Bitcoin deposits at online casinos. Bitcoin is becoming a giant payment method of preference in the largest and most popular online casinos. The problem with Bitcoin is that many players don’t quite understand what Bitcoins are, how to get Bitcoins, and why they should be using them at their favorite online casinos.
What Is A Bitcoin?
Bitcoins are crypto-currencies that cut out the bank and payment processor middle men. Bitcoins are ran on a block chain, which is a network that records the transactions made using Bitcoins. All that is needed to trade them are a Bitcoin address for a sender and a Bitcoin address for a receiver.
How Do You Get Bitcoins?
Players can purchase Bitcoins online in various different ways. Players can sometimes use bank transfers to buy Bitcoins. Some Bitcoin exchanges require a few days of wait time to buy them in this way, however. Players can also use their credit card to buy Bitcoins. They simple visit an exchange, which is a website that offers the opportunity to exchange traditional money like a credit card into Bitcoins. There is usually a small fee for this exchange, as well. Debit cards can be used but the amount is usually limited on what you can buy at one time. Another unusual way players can buy Bitcoins is with gift cards. Some exchanges take gift cards as a trade for Bitcoins.
Making Deposits At Bitcoin Casinos
There are multiple reasons why a player should be using this method of payment to make deposits at a Bitcoin casino. First, the process and transaction times are seamless and extremely fast. Secondly, using Bitcoins for payments is a very secure way to do business. Lastly, many online casinos are able to process them for no fees or very small fees, which makes them want to offer bigger bonuses for players who use Bitcoins as their payment method.
After a player has signed up with a particular online casino, they can use their Bitcoin address to make payments to Bitcoin casinos. Most often these payments are free from any fees. All that happens at this point is that the transaction is confirmed on the block chain and within minutes you’ll be ready to start wagering.
Players who are ready to make a withdrawal via Bitcoin can choose to have their withdrawal sent to their exchange service’s address. At this point the player can then request a bank transfer from the exchange. For players who would rather hold their Bitcoins for future use, should look into using a Bitcoin wallet service.
Safety Tips On Bitcoin Casinos
Before signing up and making a deposit at a Bitcoin casino, there are a few things you should check into. First, be sure that the casino you are playing with has top notch security in place. Of course, this is important whether you are using Bitcoin or another payment method. In addition, you should ensure the online casino you’d like to play at has fast software that can handle the new Bitcoin technology in a seamless way. Thirdly, be sure that you first search for online casinos that give Bitcoin users extra bonuses. Most casinos are giving additional bonuses for players who use Bitcoins and there’s no reason not to take full advantage of these offerings. Lastly, while there are a few online casinos that will only deal in Bitcoin currency, it can be quite limiting if a casino does this. If you think there’s a chance you’d like to have the option to use another payment method at some time or another, be sure the casino offers additional payment solutions.