Bitcoin Gambling

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Bitcoin gambling has been growing in popularity in recent years as more people realize the value of this digital currency, and casino operators are taking notice. Bitcoin is the perfect currency for online gambling, as its pseudonymity makes it difficult to trace back to an individual gambler and it also allows for faster transactions. With this in mind, this comprehensive guide on Bitcoin gambling will discuss everything you need to know about Bitcoin as it pertains to gambling. Whether you’re completely new to the world of gambling with cryptocurrency or already have some experience, you will surely learn a thing or two by the end of this detailed guide.

How do we rate bitcoin gambling sites?

Bitcoin gambling sites are different than traditional online casinos, and they have to be rated differently. Here are some of the many factors that are considered before listing an online casino as credible and reliable:

1. Security & Licensing

Bitcoin gambling online is a booming industry, but before you start playing for real money, there are certain precautions that you need to take. One of the most important factors when it comes to security is making sure your funds are stored on an encrypted wallet and that you have a backup of your private key or mnemonic phrase. Furthermore, licensing requirements vary by jurisdiction, so make sure you’re following the local laws and avoid playing at an unlicensed bitcoin gambling site.

2. Customer Support

There will always be a problem around the corner when it comes to gambling, not to talk of gambling with crypto. Whether it’s a small issue or a more technical one, the listed online crypto casino’s customer support is available to solve it for you at the speed of light.

3. Bonuses & Promotions

Everybody loves free things, and online casinos already realized this. So they always try to retain existing or get new customers by offering them eye-catching and interesting bonuses and promotions. Before a casino gets listed, we check to see if they have enough bonuses and promotions in store for players, either old or new, to enjoy

How to deposit and withdraw with cryptocurrency

Some of the best bitcoin gambling USA sites will let you deposit and withdraw with cryptocurrency. This is a good option because it means you don’t have to worry about using your credit card, which can be traced back to you, or wait days for transaction approval.

Deposit using Bitcoin:

  • First, open an account with any online casino accepting cryptocurrency as a form of payment
  • Visit the “cashier” section and choose to deposit with “Bitcoin”. You will then be provided a unique Bitcoin address
  • Now open your Bitcoin wallet app or web app and transfer the deposit amount
  • Confirm the payment so the transaction process can take place and the funds will be available on your casino balance within a few minutes.

Withdraw using Bitcoin:

  • Visit the casino “cashier” page to initialize a withdrawal. Choose to withdraw via Bitcoin
  • Enter the amount you wish to withdraw, and open your wallet app or web app to copy your wallet address
  • Double check and verify if your details are correct, then paste in your address and click on “withdraw”
  • You should see the specified amount in your Bitcoin wallet balance within a few minutes or as stated by the casino

Pros and Cons of Bitcoin Gambling

As there are advantages and disadvantages attached to everything, Bitcoin gambling online is also not without its fair share of pros and cons. Below are some of the benefits as well as downsides of gambling with Bitcoin:

Pros

  • Ultra-fast deposits and withdrawals
  • It allows for full anonymity
  • Bitcoin wallets exist in mobile app form
  • High-end security is provided by the Bitcoin wallet

Cons

  • Could be difficult to understand Bitcoin for those who have never used it before
  • Bitcoin value fluctuates with users and markets
  • It is a digital currency and there is a small chance that some Bitcoins may be lost if all key systems involved crash

Other Gambling Cryptocurrencies

There are over 12,000 cryptocurrencies as of publishing this guide, and there will still be more in the future. These digital currencies are not all alike: some can be used to gamble, while others cannot. Here is a list of some of the most popular cryptocurrencies that are accepted and widely used to gamble in online casinos:
  • Bitcoin
  • BitcoinCash
  • Ethereum
  • Litecoin
  • Ripple
  • Tether
  • Dogecoin
Some casinos are accepting other cryptocurrencies that are not listed here as a form of payment, so make sure to check first.

FAQs

Can I Fund my Online Casino Account with Bitcoins?

You might be wondering, can I fund my online casino account with Bitcoins? The answer is yes. Bitcoin is a currency that can be used to fund your online casino account. In fact, many casino players prefer it to FIATs because it’s fast, convenient, and also a safe deposit method.

Is Bitcoin Safe to Use?

Bitcoin is a decentralized form of currency, meaning that it doesn’t belong to any governing body or jurisdiction. Bitcoin’s digital currency has been proven to be safe and secure because it’s utilizing cryptography to sign hashes that validate a transaction. So if you want to try out gambling with Bitcoin but are worried about security, rest assured. Bitcoin gambling online is a completely safe and secure method of making deposits or withdrawals.

How Fast are Bitcoin Transactions With Casinos Online?

Even though Bitcoin transactions take around 10 minutes to go through, which is considerably faster than a credit card transaction, this doesn’t mean you will be paid your winnings within that short amount of time. Some casino policies restrict them from sanctioning payouts if it’s not been reviewed yet, which can take a couple of days.

Will there be any Fees for Bitcoin Transactions?

Yes, there are fees with Bitcoin transactions. The fees you’ll incur for a Bitcoin transaction depend on how much money you’re sending, and what type of wallet you’re using. The average Bitcoin transaction fee is 0.000044 BTC, or $0.957 equivalent.

Conclusion

Bitcoin casinos allow players to enjoy games without having to worry about their personal data being revealed, stolen, or shared. Players can enjoy anonymity and fast transactions by using bitcoin to gamble online, it’s safe, secure, and reliable, making it an excellent choice for all types of players.