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Understanding the World’s Biggest Virtual Currency
You might have heard of Bitcoin before but, like many other people, you also might not know exactly what it is. So, what exactly is Bitcoin, and why should you choose to use it? Well, in a nutshell, it is a currency that only exists online. Your Bitcoins are held electronically in something known as a Bitcoin wallet (more on them later), and can be spent at any online gambling site offering this payment option. They can also be sold at any time, and they often increases in value, meaning that some people make significant amounts of money simply by buying and selling them online.
There are many reasons why people use Bitcoin online, but the biggest is the fact that they are anonymous. This is because the coins can be held in accounts that aren’t linked to names or addresses, although most online gambling sites accepting Bitcoin will require you to provide this information. This anonymity means that Bitcoin online casinos are often the only option for those looking to play in countries where online gambling is not allowed. What’s more, there are barely any fees for using it, and all transactions made using this payment option are incredibly fast.
Bitcoin is the world’s most popular virtual currency, and it is being used by more and more people every day.
Depositing and Withdrawing Using Bitcoin
To get started with it, you’ll first need to choose a Bitcoin wallet. There are many available, however some of the more popular ones are Coinbase and Blockchain. You then need to buy some, which can be done at many different Bitcoin exchange sites. Then it’s simply a case of selecting the Bitcoin option at your chosen online casino and following the on-screen instructions. Transactions are really quick, so you’ll be playing the games at the casino in no time.
It is also a great option for most people when it comes to withdrawing at online gambling sites, and Bitcoin withdrawals are offered at the majority of sites accepting Bitcoin deposits. Just go through the withdrawal process as normal, ensuring that you select the Bitcoin option, and you’ll have your winnings in your wallet in no time. You can then sell the Bitcoins you’ve managed to for real money, which can be transferred directly to your bank account. Alternatively, they can instead be used to make purchases at a variety of different sites.
Start Using Bitcoin at Online Casinos Today!
If you’re fed up with the traditional payment methods, or need to find a way to play online in a country that has banned online gambling, Bitcoin could well be the answer. It is one of the safest and securest ways to play online, and is now accepted at many great online casinos, plus the low fees ensure that using it at a real money casino is one of the cheapest options around.
To find the top Bitcoin online gambling sites, simply look through the ones we’ve recommended here on this page. All of our recommended casinos will allow you to play a massive range of fantastic games, plus they are also some of the safest around, as they provide the best security features and are properly licenced by reputable organisations.
Frequently Asked Questions
What is Bitcoin?
Bitcoin is the world’s most popular virtual currency. This means that it isn’t a physical currency that can be exchanged in person, but instead one that is held electronically in a Bitcoin wallet. It is known for being one of the world’s most anonymous payment methods, and it can be used to make deposits at a large number of online casinos.
How does it work?
Using Bitcoin is actually a really simple process. You’ll first need to get a Bitcoin wallet, before then heading to a Bitcoin exchange and purchasing some Bitcoins. You can then simply click on the Bitcoin option at your chosen online casino and make a payment. Withdrawals can also be made using Bitcoin, and you can then sell these Bitcoins for real money.
Do they allow online casino payments?
Yes, they certainly do. Unlike some other payment methods, Bitcoin do not restrict the way in which their currency can be used in any way. This means that Bitcoin can be used at online casinos even in countries that have banned online gambling. Not every site accepts Bitcoin though, however the number that do is growing.
Is it safe to use?
Yes, Bitcoin is an extremely safe way to pay for goods and services online, and this is mainly due to the anonymity that it offers. This anonymity means that it’s not possible for others to steal your personal information. You should remember that Bitcoin is only safe when you trust the person or site you’re paying though, which is why you should only play at an online casino we recommend.
How fast are deposits and withdrawals?
One of the best features of Bitcoin, along with the anonymity and low fees, is the speed of transactions. When you pay an online casino with Bitcoin, you can expect the funds to be in your casino account almost instantly. What’s more, withdrawals are also usually really quick, although you will have to wait a little while for the casino to process the withdrawal request.
How does it compare?
Bitcoin compares well with all of the other banking options at online casinos. The fact that it is anonymous makes it one of the safest payment methods around and, unlike some other options, there aren’t any high fees to pay. It isn’t accepted at as many online casinos as most other options though, although the number of casinos accepting Bitcoin is growing.
Are there any fees involved?
There are hardly any fees when it comes to using Bitcoin – in fact, they are so low that they won’t even be noticed by you. You should always check to ensure that an online casino is not charging fees for depositing or withdrawing using the method though, as some sites do apply small fees to transactions.