Bitcoin is rapidly becoming one of the more popular payment methods players will find in online casinos. While the legal ramifications of using Bitcoin on a day-to-day basis and as a currency itself are still up in the air, online casinos have made no qualms about accepting the cryptocurrency.
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There is some slight sense of reservedness amongst casino players to play at Bitcoin casinos because some aren’t officially licensed. However, in reality, many top online casinos now offer the cryptocurrency and do feature well-respected licenses. With Bitcoin casinos becoming all the rage and safer by the minute, depositing and playing with Bitcoin may be something players wish to take a look at.
Depositing with Bitcoin
Before any you decide to deposit with Bitcoin, you will need to ensure that you understand just how the cryptocurrency works, and this is a somewhat arduous task which involves a lot of reading and insight. Once you’ve got that nailed down, though, depositing with Bitcoin at casinos is a relatively simple affair.
After registering for a Bitcoin wallet, your next task is to get hold of some bitcoins. There are many exchanges out there which sell Bitcoin to players for the going rate. Once you have bitcoins in your wallet, popping over to the cashier or banking page at your favourite online casino is the next step. From there, you merely need to enter the amount of bitcoins you wish to deposit and give them your Bitcoin address. Once a miner has completed the transaction and added it to the blockchain, your deposit should be accessible.
Many casinos prefer players to play with US dollars, so while you may deposit with Bitcoin, it may be converted into US dollars when playing games. However, once you wish to withdraw your winnings, they will then be converted back into Bitcoin. Withdrawing with Bitcoin is something of a mixed bag. Some casinos (not the finest ones, admittedly) may charge you an additional miners fee if you wish the transaction to be processed rapidly.
Smaller sums may take longer to be processed than larger ones. Bigger casinos have their own team handling Bitcoin payments, so they come free of charge and very quickly dealt with. The Bitcoin payment method is one of the fastest in the online casino world for cash outs.
The Final Word
A payment method which is going to take some getting used to, Bitcoin is one of the most secure out there. It offers as close to an incognito banking option as you’re going to find, which is handy if you’re playing at offshore casinos because your country forbids online gambling.
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