All About Bitcoin
Bitcoin is quite popular these days and represents a from of virtual currency. This is because bitcoins involve fast transactions for deposits and withdrawals. It is also anonymous, making it more safe for people who end up with a big win. Bitcoin is a currency which is mined. Mining is done by computer software which solves mathematical computations to discover and harvest the Bitcoin currency. This might be enough to make your head spin at his point. However, players at a casino will not have to by their own super-powered computer to obtain bitcoin. Fortunately, it is possible to purchase Bitcoins with just the use of a credit or debit card.
How To Buy Bitcoins
It is definitely much easier to purchase Bitcoins instead of going through the trouble of mining it. In order to purchase this currency, you will need a virtual wallet to store the bitcoins. In the same way people use a wallet to store their cash. It is also necessary to have specially wallet to store bitcoins. It is from this Bitcoin wallet that players can use to add bitcoins to their casino accounts. It is also possible to use a bitcoin wallet app on your mobile device for Android or iOS, and this was not possible when bitcoin was first started. Your bitcoin wallet will have an address, and whatever password or security information attached so keep this handy.
Once the person has a Bitcoin wallet and a wallet address, he or she can use their credit card to purchase bitcoin. In order to do so, it is just a matter of finding a regulated currency exchange. A regulated exchange will have to adhere to certain laws, and it may be that you will have to confirm your identity before using your credit or debit card. This is just a part of their security features to make sure the card being used belongs to you. However, not every exchange will ask for information about your identity.
After having your account setup with the Bitcoin exchange, your credit or debit card can be used to make a purchase. The exchange will show you exactly the amount of bitcoins you will get and what will be charged to your account. You will also be required to insert your Bitcoin wallet address so the exchange can send the bitcoins directly to your wallet. If you are happy, just select the button to buy bitcoins and the transaction will take place. It is always a good idea to purchase a little more bitcoins then you want so you can have a bit more in your Bitcoin wallet.
After making a purchase of bitcoins, just log into your casino player's account and see the casino's Bitcoin wallet address and your Bitcoin wallet address. You can send the amount you would like to add to your casino account by send it to casino's address. The casino will use your wallet address when you initiate a withdrawal in bitcoins. So, it's that straightforward to buy bitcoins and deposit them to your casino account without any hassle.