Many online gambling sites offer different payment methods. Many now accept bitcoin deposits. Some offer bitcoin withdrawals. There are also casinos that only deal in bitcoin. I will explain the differences between bitcoin casinos and normal casinos. I will also explain how to make deposits in various ways at regular cash online casinos that accept bitcoin. When making deposits, it doesn’t usually take more than 10 minutes in order for the casinos to receive it. In fact, they often receive your bitcoin deposit it immediately!
Bitcoin is one of the digital currencies available. You can also buy it from a bitcoin market or from another person directly. Bitcoin is not controlled by any one person or bank, so its value is always changing. It also means that it can be used in places where other payment methods aren’t able to be used. One example is online casino games. There are online casinos that accept bitcoins as a deposit but do not give them for withdrawal. There are also bitcoin gambling sites that only deal in bitcoin.
Depositing and Withdrawing
Depositing bitcoin at an online casino is easy. You can have a special bitcoin wallet, such as a USB stick or other external media storage device. These unique USB devices have specific codes that point directly to that location, acting similar to a bank account number. This is how places will be directed to send money and from where they receive it. If you buy bitcoin from an online exchange, be sure to have it sent to your wallet before you send it to the casino! This way they know it came from you. It usually takes only a matter of minutes before the transfer to a casino is completed. Sometimes it happens immediately, sometimes it can take up to ten minutes. But it is usually pretty fast!
Withdrawing can only be done from special bitcoin casinos. It can take up to 15 minutes to withdraw funds. Some online casinos also offer withdrawal in bitcoin, but most just accept deposit. In order to withdraw in bitcoin, you just use your bitcoin wallet address.
Bitcoin casinos are special because they only accept bitcoin for deposit and withdrawal. The legality has not been legislated, so it can be used in situations where credit or bank accounts can’t be. However, gambling laws still apply and so when using bitcoin to gamble, make sure you are of legal age and online gambling is legal in your jurisdiction.
When you create your casino account, a temporary bitcoin wallet is created for you. You use this wallet to deposit and withdraw funds from, as an intermediary to and from the casino. This helps protect your identity and location, and so anonymity is the major draw of bitcoin casinos.
These are the differences of bitcoin casinos from regular online casinos, and the basics of depositing and withdrawing bitcoin. Since it is usually such a quick transaction, playing with bitcoin is relatively simple! It also provides you an opportunity to play at bitcoin only casinos, which gives you more options when it comes to choosing a casino.