Some players might have heard about Bitcoin, and wondering what this payment option is all about. Bitcoin is a type of currency which is becoming available in all of the mainstream online casinos, and its popularity is to the point where some online casinos are offering bonuses to deposit using Bitcoins. Bitcoins are a bit different than regular paper money, as it is a form of currency which is mined using very powerful computers. Casino players will not have to worry about purchasing a new powerful computer to do Bitcoin mining, they can just purchase some already mined coins from a currency exchange, and this can be done just with the use of a credit or debit card.

Best Bitcoin (BTC) Casinos

How To Use Bitcoins

Purchasing Bitcoins to deposit into your casino account is really straightforward. As this is an online currency, and casino players must have an online Bitcoin wallet. The Bitcoin wallet functions in the same way as a regular wallet - to hold your money, but in this case it is Bitcoins. There are many legitimate websites providing a way to sign up for an online Bitcoin wallet. Often a casino will recommend a specific place to sign up with. Players will be given a wallet address and must not lose it, or they will lose access to their Bitcoins. Some currency exchangers will also provide a wallet address, and there are Bitcoin wallets available for mobile devices. Once casino players have their Bitcoin wallet addresses, they can find a legitimate exchanger to purchase Bitcoins. The currency exchange will charge your credit card and give you Bitcoins in exchange. Players will have to input their wallet address to receive the Bitcoins deposited there, and will also be able to see the current exchange rate for purchasing Bitcoins. Keep in mind, it is always a good idea to purchase extra Bitcoin for when you need it.

Once the Bitcoins have been purchased, the player can then log into their casino account and use the Bitcoins to make a deposit into this account. Depositing into your casino account will usually require giving your Bitcoin wallet address to the casino and obtaining the Casino’s wallet address. This information is used to track the deposit you sent to the address of the casino’s Bitcoin wallet, so the casino can allocate the Bitcoin equivalent to your player account.

Why Bitcoin Currency

Someone might be probably wondering what is the big deal about using Bitcoins payments? There are various advantages of using Bitcoins for online casinos. First of all, this currency can be used to place a wager on all casino games. Players can use Bitcoins just like dollars or Euros on all games such as slots, tables and live dealer games. One of the reasons players opt for Bitcoin is because it is fast. Bitcoin might be one of the fastest or the fastest ways to deposit and withdraw from a casino. Bitcoin payments are faster than other payment options such as credit cards, and players can have access to funds instantaneously without having to wait for credit card approval or on a long payment withdrawal. These transactions are fast for deposits, and the casinos and players benefit as funds are available quickly. Another reason to choose Bitcoins as a payment option is the lack of fees. Online casinos will not charge fees when using Bitcoins, and instead will offer special deposits promotions or welcome bonuses to encourage players use Bitcoins. One of the other reasons for someone to use Bitcoin currency is how anonymous it can be. Players are required to provide information to online casinos, but Bitcoin currency transactions are anonymous to deposit and withdraw. Therefore, Bitcoin is ideal for someone worried about their online transactions being tracked.