Like most people, you’ve probably got a few different ways to fund your casino account. Maybe you use cash, or perhaps you prefer credit cards or other forms of payment. Maybe you even have a particular account for your gambling money—and if so, we salute you! But what if there was another way?
Well, there are bitcoin casinos. These casinos are just like any other casino—except instead of using cold hard cash or credit card numbers as your deposit method, they let you make deposits with bitcoins. So why wait? You could be playing around with bitcoins right now!
Anyone with even a passing interest in online gambling may have heard of bitcoin casino games. But what exactly are they? How do they work?
Here’s everything you need to know about bitcoin casinos.
What exactly is a bitcoin casino?
A bitcoin casino is, in essence, a place where you can play games and gamble with bitcoins. In this process, you can win money or lose it.
However, there are some benefits of using a bitcoin casino that is not present in traditional casinos:
- You don’t need to be available physically at the gambling site to play the game. Your internet connection is the only thing that matters; so long as this is available, you can play from anywhere.
- There’s no risk of getting robbed or losing money because everything happens online—your sensitive information isn’t handled by anyone else but yourself and your card provider.
How do bitcoin casinos work?
Bitcoin casinos work like any other casino, except they use bitcoin instead of traditional currencies.
A bitcoin wallet is used for depositing money, and a unique address is generated for each player. This address is how you receive money from other players or the casino itself.
To make a deposit into your bitcoin wallet, click on “deposit” and follow the instructions onscreen to send your bitcoins to that address.
Before completing the transaction, you may need to confirm that you want to send this amount of money from an e-wallet or bank account via text message or phone call.
Once deposited, the funds will be available in your account immediately.
However, it could take up to 10 minutes before they’re visible within games like slots and online poker rooms due to transaction confirmation timeframes built into blockchain technology.
Bitcoin casino deposits and withdrawals
The player must first have an account with the casino for a bitcoin deposit.
This process is usually simple and only takes a few minutes. Once an account has been made, there are two different ways of depositing funds into it:
- Withdrawing money from your wallet into the casino’s wallet (this is called “cashing out”)
- Making a deposit using your private key (the key that gives you ownership over your bitcoin)
What are the advantages of playing at a BTC casino?
The most obvious advantage to playing at a BTC casino is that you can play with cryptocurrency.
You do not need a bank or payment processor. You can use the cryptocurrency wallet in which your bitcoins are stored.
You also don’t have to worry about the usual fees associated with depositing and withdrawing money from an online gambling site, such as those imposed by payment processors like Visa or MasterCard or by banks themselves.
Another advantage of choosing a BTC casino is that you can withdraw your winnings immediately after winning them, rather than waiting several days before they are deposited into your bank account (or even longer if you’re using PayPal).
Many people want their winnings as soon as possible to enjoy them without having to wait around while waiting for their funds to be transferred from another institution—and this is especially true when it comes to online sports betting!
A bitcoin casino accepts cryptocurrency
A bitcoin casino accepts cryptocurrency deposits and withdrawals, such as Bitcoin.
Unlike traditional online casinos, which use fiat currencies like US dollars or euros, a bitcoin casino will ask you to deposit money using the cryptocurrency.
On the other hand, Bitcoin sportsbooks are sports betting sites that accept cryptocurrency deposits and withdrawals.
Third-party services like BitcoinPay or BitPay can be used to do this (if you’re in the United States). Withdrawals usually take longer to process due to their slower transaction times than traditional banking methods like credit cards or wire transfers (but they’re still fast enough).
Meanwhile, bitcoin poker sites allow players worldwide to play poker using bitcoins instead of fiat currencies like USD or EURO.
These sites don’t have any live games; all games are played on demand by downloading their software client for free from their website at no cost whatsoever – no purchase necessary!
We hope this article helped you learn how to deposit at a Bitcoin casino and the benefits of using one. Withdrawing your Bitcoin winnings is often as easy as making a deposit, and some casinos even have instant withdrawals without any processing time.
If you have any questions about depositing to a Bitcoin casino, feel free to contact us or leave a comment below!