Bitcoin is a form of digital currency that was first created in the year 2009. It was a concept created and circulated by an enigmatic figure Satoshi Nakamoto. Since its creation, it soon gained popularity, by 2011. It also came into the mainstream around this time, especially in the peer-to-peer marketplaces that were launched.
This digital currency and others that were launched after it is not physical entities. They are digital currencies that are stored in digital wallets. With time and validation, Bitcoin and other cryptocurrencies have gained good value in this alternate financial market. Indeed, there is a separate economy that trades in such currencies and one can find equivalent values of the same in fiat currency trade as well.
Use of Bitcoin at Casinos
Online casinos have different kinds of payment options. Besides the usual payment modes such as credit or debit cards, bank transfers, eWallets there are select websites that make it possible for customers to make payments using cryptocurrencies. Indeed, many casinos make it legitimate to make payments using Bitcoin or other cryptocurrencies, as you can do with other standard payment measures.
Licensed sites that allow the use of Bitcoin make it possible for such currency holders to put their currency reserves to good use. Indeed, they can also look forward to winning back more of this precious cryptocurrency at such select casino sites. Also, there are many advantages that come from using cryptocurrency in a gambling domain.
Advantages that Cryptocurrency Provides
If you have identified one or more bitcoin casino, using the cryptocurrency in your transactions can provide the following benefits:
● Secure Transactions
This is the foremost advantage that cryptocurrency transactions provide. Most people are usually concerned about using real money to gamble at casino sites. Though all internationally licensed sites have standard encryption and safety measures in place, Bitcoin owners are assured of a more secure transaction than others. That is mainly because of the encrypted electronic wallets where such currency is stored. Access to the funds comes with encrypted safety measures.
● Value for Money
Bitcoin values are quite high in the cryptocurrency market, even when compared to fiat currencies. As a result, you can get a good rate when you hold this precious currency in your eWallet.
● Special Benefits
You can also look forward to special offers linked to this currency. Indeed, Bitcoin casinos have special welcome offers and other privileges designed for BTC holders. This entices them to use their precious currency and make use of bonuses and promos at the casinos. It also helps BTC holders get more of the cryptocurrency in their accounts.
How to Sign Up at a Bitcoin Casino?
Once you identify a BTC casino where you wish to sign up, you need to follow certain steps to get started:
- Find the link to sign up or register an account.
- Here you would be asked to fill in preliminary details such as name, username, password creation, email address.
- Once your email address is verified, you would have successfully created a user account on the casino site.
- To start using the account you need to await authentication of further details; this would comprise of identity proof that you would be asked to provide along with address proof and income proof.
- Once the documents you submit are validated, you can then proceed to choose the method of payment for your account.
- Here you can choose Bitcoin to be your preferred mode of payment.
Once the above steps are achieved, you are ready to make your first deposit with Bitcoinand get started.
Use of Bitcoin to Make Deposits and Withdrawals
When you choose Bitcoin to be the mode of payment you would be redirected to your eWallet account from the site. Licensed casino sites ensure standard encryption methods for payment transactions. In the case of Bitcoin, you get an extra layer of security since the eWallets also have additional encryption methods in place. Hence, your deposit will be processed anonymously and in a secure manner.
Once your casino account is funded you can get started. Many casinos have attractive welcome bonuses in place as well. Once you go through the applicable terms and conditions, if you are ready to use them, the casino will provide the equivalent terms to you for using your cryptocurrency. Whichever game you choose to wager on, you will know the equivalent units to use of BTC.
When it comes to withdrawing your wins, there would be a minimum limit that you need to reach. Once the limit is reached you can then withdraw BTC into your wallet. Indeed, many casinos offer good conversion rates for wagering with this cryptocurrency. Hence, it is a way to increase your reserves of this cryptocurrency as well.