How to Make Casino Bitcoin Deposits

Bitcoin, the digital funding source that is classified as a cryptocurrency and frequently referred to as a virtual currency, has taken the online world by storm over the last several years. Available to users who wish to make purchases, fund online casino accounts and even receive or send money as an employee or an employer, Bitcoin simplifies the process of using the internet for financial matters. However, those who opt to use the digital currency to play at their favorite online gaming destinations need to know how to go about funding their accounts so that they may place bets on table games, slots and other casino titles.

Choosing a Bitcoin Wallet

Before players can acquire Bitcoins or use them to fund their real-money accounts at an online casino, they must select a Bitcoin wallet for storage of the virtual casino. Like using a wallet to keep track of credit cards and cash, a Bitcoin wallet is a place to hold Bitcoins until they are spent. While there are several different types of Bitcoin wallets, online casino gamblers will probably have the most success using a software wallet rather than a web wallet; because software wallets are not tied to a third-party service, users will maintain a high degree of control than they would with a web wallet. Popular software wallets for Bitcoin storage include BreadWallet, Multibit, Bitcoin Core and Armory, although there are many other reputable, easy-to-use options.

Obtaining Bitcoins to Spend

There are several ways for customers to acquire the Bitcoins that they want to use to become real-money players at an online casino. While there are several ways to make such a purchase, each player will need to ensure that he or she selects the option that best meets his or her needs. Players heading to the exchange to purchase Bitcoin can typically pay with:

  • Credit or debit cards; by far the most popular funding source for Bitcoin purchases, there are a few things gamblers should know about these two options. Credit cards, for example, may consider Bitcoin a cash advance, making it important for users to check out their credit card's terms of service; while a perfect legitimate means of buying Bitcoin, the creditor fees associated with the activity may be higher than other forms of payment. Because debit cards are associated with a personal bank account, users may encounter limits to which they must adhere when making their purchase; Bitcoin exchanges may be able to increase such limits, although it could take a little longer than a typical Bitcoin purchase.
  • Bank accounts; similar to using a debit card to purchase Bitcoin, customers will find that these payments are directly removed from their bank accounts without the cardholder restrictions that debit users may encounter. However, confirming an account may take a few days whenever players are using it to purchase on a new exchange; bank account purchases may also be subject to a fee by both the bank and the exchange, making it vitally important to have a clear understanding of all fees before completing a transaction in this way.
  • Gift cards; perhaps the most secure means of buying Bitcoin, gift cards purchases on a Bitcoin exchange may have rather steep fees attached to the transaction. While such fees will not bother some users because the money was a gift, others prefer to steer clear of gifts card purchases because of how costly it can be to use them in this situation.

Using Bitcoin at an Online Casino

After choosing a wallet and heading to the exchange to buy Bitcoin, those who went through the process to fund an online casino account can finally get on with doing so. After choosing the Bitcoin-friendly casino that they wish to play at, depositors will need to use the provided Bitcoin address to add cash to their real-money account; this process usually takes less than an hour, although the blockchain will need to confirm the transaction. Withdrawing funds after a big casino win is a convenient reversal of the process of depositing with the cryptocurrency; winners will need to sell the Bitcoin at an exchange to transfer into their currency and spend it like any other money they receive.

Bitcoin and Casino Play

While it is important for users to fully assess any casino at which they intend to deposit and play, betting with Bitcoin is generally a quick, virtually anonymous way to gamble. After selecting a Bitcoin Casino, gamers may deposit, cash in on any bonuses associated with their registration and start spinning the reels or wagering at the tables. Get started now for your chance to play at one of the many excellent Bitcoin Casinos available today.