As bitcoin has become increasingly popular, online casinos have begun to notice and now offer bitcoin as a deposit method for their customers. This is hugely beneficial for those who want to retain anonymity, have a lot of bitcoin they need to offload, or because it is convenient.
Where Can You Find A Bitcoin Casino?
These sorts of online casinos are relatively new, so it can be challenging to find them. Furthermore, even if you find a casino that accepts Bitcoin as a payment method, you have no idea how safe it is. The best approach is to use online aggregation websites, and at bestcasinosites.net, you can find plenty of choices. One of the best things about these sites is that they provide information about the latest offers and have sometimes even reviewed the sites themselves. This should ensure that you will end up with a trusted casino to deposit your Bitcoin and play without issue.
What Is Bitcoin?
It is worth providing some context about Bitcoin for those unaware. Bitcoin is a decentralized digital currency. You can use it to purchase goods and services online, even though governments and central banks do not back it. Moreover, more merchants are accepting Bitcoin as a valid method of payment for their goods and services. The US government, however, still considers bitcoin to be a commodity and not a currency. Among the most appealing features of Bitcoin is that it can be used to exchange currencies anonymously. Since Bitcoin payments are made via the internet, it is the perfect system for exchanging various goods without anyone knowing about the transaction. However, the most exciting thing about Bitcoin is its ability to be a completely decentralized currency.
Benefits Of Using Bitcoin For Gambling Online
Having just learned what Bitcoin is, you might be wondering why you or an online casino would use this cryptocurrency.
Autonomy is among the most significant draws of bitcoin for many users and a tenet of cryptocurrencies in general. It is theoretically possible for users with digital currencies to control their own money more directly than with fiat currencies. By controlling where their money goes, users are not reliant on an intermediary such as a bank or government.
Bitcoin has many features that make it unique. One of those features is the complete anonymity of the participants. This is compelling for many gamblers that don’t want anyone else knowing what they are doing.
No Bank Fees
Cards charge fees, banks charge fees, everyone charges fees for everything. This can get frustrating over time, as it seems like your hard-earned money is going directly into the pockets of intermediaries. Direct deposit using Bitcoin is free of any charge or fee and only depends on the market rate at the time of deposit.
Low Transaction Fee For International Payments
With Bitcoin, there is no go-between involved; therefore, you spend less on your transactions. Gamblers who do not utilize USD can gain a great deal from this. Furthermore, any bitcoin transfer can be completed quickly, preventing the inconveniences of authorization requirements and wait times.
Payments Via Mobile Devices
Although this is also possible for those depositing with fiat currency, the transfer is often instant and hassle-free. In some cases, online banking doesn’t work if you are in a different country to the bank or might require authentication. Bitcoin has no such issues, and you can deposit directly from your phone and begin playing in less than a minute.
Since users can send bitcoins and receive them using only their smartphones and computers, bitcoin is theoretically accessible to those without access to traditional banking systems, credit cards, or other payment methods. Some countries are also blocked out of the international money markets due to issues surrounding criminality. You can sometimes justify these prohibitions, but they also punish the vast amount of law-abiding citizens. Bitcoin is unregulated, so anyone can buy it, trade it and pay for services with it.
How To Deposit Bitcoin?
Once you have chosen a casino to use, you will need to begin the deposit process. Luckily, it is similar to how you might use fiat currency. Typically, the steps are:
- To access the ‘cashier’ section of the website, sign in to your online gaming account.
- You can deposit using Bitcoin by choosing that option.
- The casino will present you with a unique address.
- Your Bitcoin wallet will ask for this address when you select the tab for sending bitcoins.
- Confirm the transaction by entering the amount.
- You will have access to your funds in a few minutes.
Using a Bitcoin casino has numerous benefits. It is inclusive to those who are otherwise cut out from the financial system, allowing for anonymous transactions. However, most people opt for using Bitcoin because they don’t want to pay middlemen fees and let the world know their business.