Bitcoin Casinos – How to Play at a Bitcoin Casino
Whether you are first timer looking for the right Bitcoin casinos or an experienced player, you‘ve come to the right place. This is where you will find all you need to know about bitcoin gambling sites to get you started in the right direction. What you want to know and what you need to know about the using the digital currency in various markets can all be found right here on our site. We have all the resources to make online casino gaming fun and a profitable part of your quest for entertainment.
Gambling with bitcoins opens you to a whole new world of casino gaming. However, it is important to understand what bitcoins are all about and how they can be used. After all, bitcoin is the most popular crypto-currency with a 2.5 million user base that continues to grow. The digital currency was introduced in 2008 and allows for faster transactions when compared with traditional currency. The currency does not exist in the physical world. It is stored in bitcoin wallet, which is for the most part like a personal bank account. However, there are no banks involved so the transaction fees are much cheaper. Bitcoin exchanges between wallets are approved by bitcoin miners that use specialized hardware and software to maintain the integrity of all transactions.
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Getting started with bitcoins
To use bitcoins you need a bitcoin wallet. It is important to understand that your wallet must be backed up or else you could lose all your bitcoins if the wallet is lost or corrupted. There are three types of wallets:
Online wallets such as Coinbase and BlockChain allow users to store their bitcoins on their cloud servers. Backups are usually automatic while some online wallets allow users to back up their bitcoin wallet themselves.
Software wallets such as electrum are recommended for advanced users. These wallets are stored on your own computer, which means you need to manually backup your bitcoin wallet.
The most advanced type is hardware wallets such as ledger that offers the maximum security. To access your bitcoin wallet you need to use special software that plugs into your computer via the USB.
There are many options to purchase bitcoins. They can be purchased through credit cards, debits cards, wire transfers, and more. Most bitcoin casinos allow players to purchase them directly on their site.
Benefits of using bitcoins at casinos
Bitcoin casinos continue to attract a large number of members for a variety of reasons.
- Bitcoin casinos allow you to enjoy complete anonymity
- Transactions are processed in real time
- Bitcoin casinos are legal
- Players can benefit from lower transaction costs
How much bitcoin do you need to play at bitcoin casinos
Currently, 1 bitcoin is approximately worth $454 but you don’t really need to make a huge investment to play at your favorite bitcoin casino. The minimum deposit varies depending on the casino but is generally around 1 mBTC which is around $0.45c. You can use your bitcoin balance to bet in fractions as small as 0.1 mBTC, which is around $0.04c on table game such blackjack and roulette and lesser for slots. Most bitcoin casinos display a player’s balance in mBTC or milli-bitcoins which is currently worth around 45 cents.
Cashing out winnings from a bitcoin casino
Withdrawing winnings with bitcoins from a casino is one of the safest banking options. If you have won bitcoins while playing your favorite games you will need to request a withdrawal just same way as with other currencies. The bitcoins are sent from your casino account to your bitcoin wallet address. Withdrawals are processed instantly and the funds are usually reflected in your account within 12 hours.
To cash out you will need to:
- Log into your bitcoin casino account and visit the cashier’s tab.
- Enter your Bitcoin wallet address.
- Enter the amount of bitcoins you want to withdraw from the casino.
It’s as easy as apple pie.