The Bitcoin has definitely earned its reputation as one of the most revolutionary inventions of the century. The technological and financial progress it represents can hardly be compared to any other crypto currency nowadays. In fact, Bitcoin is a complete network processed through the blockchain which allows all bitcoin owners all over the world to send and receive parts of this currency.
In the spirit of the century’s greatest technological achievements, it is safe to say that almost every popular thing turned digital. The same goes for gambling. As it has long been a favourite pastime to many, it was only a matter of time before it became available online. Alongside the process of perfecting Bitcoin, developers have been able to set up entire websites with multiple access options in order to bring casinos, sportsbooks and poker rooms at gamblers’ fingertips.
How to Get Bitcoins for Your Gambling Account
Considering the fact that these two separate phenomena caused quite a lot of noise on their own, it was only a matter of time until they were ultimately combined. The gambling sites provided people with one of humanity’s most desirable hobbies, primarily due to the fact it represents an easy and fast way of getting rich. With all the benefits from bitcoin added to the mix, people could hardly resist a game or two.
In order to deposit bitcoins and use them as a payment method for your gambling experience, you need to acquire some beforehand. This crypto currency is extremely easy when it comes to transfers, which is why there are several ways of getting some of it to your account. You can simply access a bitcoin exchange site and exchange a certain amount of your regular, fiat currency for bitcoins.
You can also purchase bitcoins from other owners, if you feel more confident dealing with a real person. Bear in mind that the person could be on the other side of the world, since there is no central authority that can regulate bitcoin and limit its boundaries. Bitcoin mining is the last option for getting bitcoins, although it would require some computer knowledge and a durable processor.
Once you have acquired your share of the bitcoin cake, you need to store them for safe keeping. Some people choose to do that at the bitcoin exchange site, but more experienced players suggest otherwise. They claim that this option is risky due to the fact that such services are a frequent target to hackers. Moreover, if you use that e-wallet address for all transfers, it would be much easier to track your transactions. In countries where Bitcoin hasn’t been regulated and online gambling is illegal, you need to keep your transactions under the radar.
An e-wallet is a service which allows storage space for your bitcoins. It can be cloud-based and store the bitcoins online or in the form of software which relies on the hardware part. There are even USB e-wallets nowadays, so you can choose from a variety of options. In any case, it is best to choose one of these e-wallets than to keep storing bitcoins at the bitcoin exchange.
Depositing at Bitcoin Gambling Sites
If you have decided to try your luck at one of the best bitcoin gambling sites and understand all its aspects at first hand, you should know there are a couple of steps to get you ready. With a few simple points, you should be able to overcome any technical difficulties in no time.
You would also need to choose a certain gambling site and register for a player account in order to enjoy the full experience. A sign up process is required for your player profile, after which you would be able to deposit bitcoins onto the site. Hybrid gambling sites will ask you to choose the currency you would like to use in order to make a deposit and gamble, while bitcoin-exclusive sites take you directly to the transfer screen.
When you reach that stage, you just need to input the bitcoin e-wallet address and the desired amount you wish to take out of it and deposit it onto your player account. You could also use your QR code as long as you are able to provide a scan and input it into your player account. It is simply another representation of the e-wallet’s public address used to deposit funds into the gambling site. A good bluff and a little luck is all you need from that point on.
The best bitcoin gambling sites tend to offer unlimited deposits, which is how they manage to draw a wide variety of players. They allow players to split their bitcoins in multiple pieces and bet segments whose value is little above zero. However, there are providers dedicated to high rollers. These sites set higher deposit limits, ranging from $20 to $50.
There are also differences when it comes to the maximum deposit limits as well. Most gambling sites, especially casinos, place low limits for maximum bitcoin deposits. Others can allow greater player freedom as they offer max deposits ranging from 0.5 BTC up to 2BTCs per deposit.
Additional Tips about Bitcoin Gambling Sites
It is important to understand that you need to lose some in order to win some. Nevertheless, after a few rounds, you should be able to earn a victory at these bitcoin gambling sites. When you decide to quit the party, you can choose to leave the winnings in your player account in order to increase your bankroll for next time.
Most players still choose to withdraw most of their winnings due to many reasons. The common belief is that their bitcoins are safer on a private e-wallet rather than in the gambling site account, which is probably true. Learning how to withdraw your funds shouldn’t be a problem at this point, since you have already mastered the process of purchasing and transferring bitcoins into your e-wallet and gambling account.
All you need to do is specify the desired amount of bitcoins you would like to transfer from the site and enter the e-wallet address at the recipient space. In a matter of minutes, you should be able to notice a change in the balance. To be honest, it could take the bitcoins a while longer before they can actually be used because bitcoin miners need to complete the transfer process. Even then, bitcoins would still be a faster money transfer option than traditional fiat currencies and the banks which need to process them.
The matter of legality is somewhat complex when it comes to this crypto currency. Namely, there are several countries which have officially proclaimed it as an illegal tender, while there are those which are bitcoin-friendly in a more subtle manner. In any way, since laws about this crypto currency are yet to be defined, there are no legal restrictions to using it.
Bitcoins are unique for many things, such as their volatility for example. In practice, that means that their value can fluctuate based on external factors. However, since its appearance, the bitcoin’s value has increased significantly, which is why it is thought to be stabilizing. Moreover, the Bitcoin network in general only permits a limited number of bitcoins in the world, which is bound to further increase and stabilize their value.
Yes, you can. Bitcoin gambling sites are no different from any other, as they offer the same range of depositing possibilities. Some of them may offer a mobile compatible browser version, although most sites tend to include an inherent app for both iOS and Android users. The process of depositing is the same, but make sure your chosen e-wallet is also mobile compatible.
Yes, they do provide provably fair games. In fact, bitcoin sites are known to provide much more reliable games and safer playing environments than the regular gambling sites. They offer a provably fair button for all their games, in order to ensure yourself about the way a certain game works.
Yes, of course. As mentioned previously, these sites offer all the benefits and opportunities available to players at other gambling sites which use regular fiat currencies. There are rarely any bitcoin-related sites which do not include the most widely known No Deposit, First Deposit and Reload Bonus types, as well as the loyalty promotions for regular players.
Gambling with bitcoin is no more complex than using regular currencies. You might need to learn a couple of new procedures, but after a couple of tries, you should have no problem following the steps correctly.