Gambling with Bitcoin and other types of cryptocurrency is becoming an increasingly popular way to enjoy the online casino experience. Did you know that over $4 billion in Bitcoin has been gambled since 2014?
Whether you enjoy gambling with cryptocurrency through online slot machines or other types of Bitcoin gambling sites, there are plenty of options and ways to gamble online with Bitcoin. As cryptocurrency gains more popularity as a valid form of currency, online casinos continue to adapt quickly to the growing number of people using it.
The good news is that if you have a cryptocurrency and want to learn about gambling with it then you’ve come to the right place. Continue reading to learn everything you need to know about gambling online with Bitcoin.
What Is Gambling With Bitcoin?
There isn’t much of a difference between online casinos and Bitcoin gambling sites when it comes down to it. The biggest difference between the two is the type of currency used for online gambling. Bitcoin gambling sites use Bitcoin rather than U.S. dollars when it comes to loading up your account and cashing out your winnings.
The good news is that there are a lot of benefits that come with switching to digital currency for your online gambling. With conventional currencies like the U.S. dollar, it can take up to a week to process your winnings and withdrawals.
If you choose to use a digital currency like Bitcoin your withdrawal process is instant and that money is transferred into your account in the blink of an eye. You’ll immediately get your winnings from Bitcoin slots. Another big benefit that you’ll gain is that gambling with cryptocurrency is anonymous. This can’t be said for gambling with traditional forms of currency through a checking or savings account.
Why Use Cryptocurrency for Gambling?
More and more gambling websites are accepting cryptocurrency as a valid form of money for your gambling needs. You’re probably wondering why there is such an increase in popularity. Gambling with Bitcoin has a ton of benefits for you as well as for the gambling website and here is a closer look at those benefits.
Security
A big benefit of gambling with cryptocurrency is the security aspect. Any time that you make a deposit with Bitcoin there is a record created for that transaction that is present around the world. This makes it almost impossible for the gambling website to make off with your hard-earned money without facing legal penalties.
The website also has to make and keep a record of any transaction that is tied to the money that you deposit with their website or service. This means that there will always be a digital paper trail that leads back to anyone that attempts to steal your Bitcoin from you.
Exchange Rates
One thing that cryptocurrency has in common with every other type of currency around the globe is that it has value in traditional forms of currency. This means that the value of Bitcoin fluctuates from day to day.
This is a big problem for people that want to gamble at a casino but have their money in Bitcoin. By converting Bitcoin to U.S. dollars you’re subject to the exchange rate as well as a processing fee that costs you more money.
Using Bitcoin gambling sites eliminates the need to convert your Bitcoin to U.S. dollars. This not only provides a greater level of convenience for you, but it also saves you money in the long run.
How To Gamble With Bitcoin
There are certain steps that you’ll need to take if you wish to gamble with Bitcoin. Here is a look at the exact steps you’ll need to take before you start gambling on Bitcoin casino sites.
1. Get a Cryptocurrency Wallet
If you’re planning on playing the slot machines with cryptocurrency then you’re going to need to open a cryptocurrency wallet. If you already have a cryptocurrency wallet then you’re good to skip this step.
If you don’t already have a cryptocurrency wallet, there are tons of options for you to choose from. All you’ll need to do is pick the one that you like best and register an account. From there, you’ll get a digital address that is attached to your crypto wallet account. Keep this number in a safe place and don’t forget it.
2. Buy Coins
Once you’ve got a wallet you’ll want to invest in some form of cryptocurrency like Bitcoin. To buy coins, log into your cryptocurrency wallet and purchase the type of cryptocurrency you prefer using traditional currency. From there, decide the amount of cryptocurrency you wish to purchase and it will show up in your wallet within seconds.
3. Pick Your Online Casino
Now that you have your Bitcoin and are ready to play some games, you need to find the best Bitcoin gambling sites. The biggest thing for you to consider is whether or not the casino offers the games that you want to play. Some sites offer different options than others.
4. Make a Deposit
Once you’ve picked your online casino, you’ll want to proceed to make a deposit at that casino. Have your crypto wallet ready to go for this step. The transaction will only take a few seconds and then you’ll be ready to go play your favorite games.
5. Pick Your Favorite Game
Now you’ve made it to the fun part. Everything is in place for you to begin playing your favorite games using the cryptocurrency of your choice. Pick a table and find the one with the stakes limit you want and enjoy your online gambling experience.
Start Gambling With Bitcoin Today
Gambling with Bitcoin is just like gambling with U.S. dollars, but it provides even more benefits. It is more secure than gambling online using traditional currency and it doesn’t require any exchange rates or additional fees. Getting started is easy, especially once you’ve opened a crypto wallet to keep your Bitcoin in.
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