Bitcoin Casinos

One of the reasons why you may have landed on this page is because you are curious to learn more about bitcoins and its connection with online gambling. Many are of the notion that bitcoins are for geeks, but that’s far from the truth. If you are looking for an online gambling experience with a difference you’ve come to the right place. Here is where you will find the entire arsenal needed to make your time at bitcoin casinos most fruitful.

Bitcoin casinos combine the power of entertainment and the chance to make speedy transactions, which allows for a smooth overall gambling experience. That’s double the fun but of course, we have plenty of tips and tricks to make your foray into the world of bitcoin gambling even more exciting. Yes, there more to online casinos that top notch 3D games. What you need is convenient, swifter payment methods and an easy way to transaction in a secure environment. And that’s precisely what bitcoin casinos have managed to offer.

For the most part, bitcoin gambling is no different from traditional online gambling when it comes to wagering on your favorite games. So fear not because there are no geeky terms or machine language to be used.

What is Bitcoin

Let’s begin by identifying what bitcoin is all about. It is a digital currency said to have been created by an individual named Satoshi Nakamota in 2009. It is generated by algorithms and is not available in paper or coins. They are stored and bought and sold in what is known as a bitcoin exchanges. There are several popular exchanges such as Kraken, BitStamp, and CoinMate where you can buy and sell bitcoins. Since transactions are conducted in real time, it is the quickest way to fund your casino account and withdraw winnings as well.

Just like traditional currencies, the value of bitcoins also fluctuates. 1 Bitcoin is currently worth $650 while transactions can be made in smaller units called milli-bitcoins. Most casinos accept minimum deposits of 1 mBTC which is equivalent to around $0.65c. Betting on casino games start from as low as 0.01 mBTC.

The digital currency can be purchased from bitcoin exchanges such as Xapo, Coinmotion, Kraken, Cryptsy, and Coinbase via regular currencies. They can be bought using credit cards and bank wires while the value of each transaction will be based on the current value of the bitcoin. Once you purchase bitcoins you are provided with a bitcoin address which can be used to deposit funds in your casino account or withdraw winnings.

Bitcoin balances are stored in the form of strings of numbers and letters in public and private keys linked by an algorithm. The public key is the user’s bitcoin address while the private key is a PIN that is used to authenticate transactions. Most bitcoin casinos permit its members to purchase bitcoins directly via their site. You can also buy bitcoins from individual sellers at an online marketplace. So if you are ready to discover this brand new world of bitcoin gambling, read on to realize its true benefits.

Wagering with Bitcoin

Placing wagers with bitcoins is as easy as traditional betting. First you would need to have sufficient balance in your casino account. Bet sizes are in mBTC so you will need to choose the amount to bet, for example, 0.01 mBTC for a spin of the reels in slots, and you are ready to play. It’s just like betting real money.

Advantages of using bitcoins at casinos

One of the reasons why we recommend bitcoin casinos is the speed at transactions are completed. Transactions are processed in real time, which means you can credit funds to your casino account almost instantly. It’s works the same way with cashing out.

There are usually no processing charges or third party commissions applicable to bitcoin transactions. Therefore, you end up with great savings while the casino is likely to pass on those benefits in the form of bigger bonuses.

Bitcoin casinos allow its members to gamble with a great degree of anonymity, which most players prefer. You do not need to furnish any personal details and financial information since transactions are conducted based on your bitcoin wallet address, which is also secured with a PIN.

When it comes to fair play, many bitcoin casinos score more than a few brownie points. Many casinos are provably fair. This is a tool that allows you as well as the casino randomize the outcome of each game or bet. In addition, it allows you to validate the fairness of a bet whether it is slots, cards, roulette, or any other game. Players can verify fairness with a single click since transactions are tracked and logged online. This is the best way to ensure that the casino does not have any control over the outcome of a bet. Our experts only recommend casinos that are provably fair.

Depositing and cashing out winnings from a bitcoin casino

Bitcoins is undoubtedly the quickest way to fund your casino account and withdraw winnings. This is something that isn’t possible with traditional banking methods. Making a deposit at a bitcoin casino is a very simple task. All you need is to access the cashier’s tab and check for the casino’s bitcoin wallet address. You can deposit bitcoins in the casino’s account using the address by simply directing the desired amount from your wallet. If all goes well you will be ready to play in less than 10 to 15 minutes.

Cashing out winnings is easy as well. In the Cashier’s section you will need to enter the amount you desire to withdraw and enter your bitcoin wallet address. Once you confirm the withdrawal request, the amount will be transferred to your wallet. Some casinos may have longer processing times since they may go through multiple checks and confirmations. However, it is still much faster than traditional banking methods. At casinos where bitcoins is an additional payment method the process may take a little longer. Since most casinos permit withdrawals via the same method used to deposit funds, our experts recommend that you deposit in bitcoins so that you can withdraw the same way as well.