Ever since cryptocurrencies entered the online casino stage nearly a decade ago, the number of Bitcoin casinos has continued to expand. And just as cryptocurrencies introduced new security protocols and technologies, they are making similar changes to betting venues. The time is perfect for any player to start gambling with Bitcoins.
The high-tech systems and complex lingo around depositing with Bitcoin can confuse even the most prepared punters. In this article, we’ll show you that the underlying principle is, in fact, elementary. In a few straightforward and practical steps, this guide will demonstrate how to deposit at a Bitcoin casino.
Deposit with Bitcoin
We can summarize the entire process of putting down crypto funds at a Bitcoin casino like this:
- Create a crypto/Bitcoin wallet account
- Transfer Bitcoins into your crypto wallet
- Open up an account at the Bitcoin casino
- Deposit your bankroll from your Bitcoin wallet.
1. Make a Bitcoin Wallet
The first step is arguably the most complex, although we’ll show you that opening a crypto wallet isn’t nearly as difficult as you might think. A crypto/Bitcoin wallet is your online depository for purchasing or selling Bitcoins or any other cryptocurrency. It’s also great for making fast casino deposits with Bitcoins.
Many types of Bitcoin wallets offer different levels of security and encryption, depending on their reliance on the internet and openness to potential cyberattacks. We’ll focus on online Bitcoin depositories such as web wallets and software wallets, since they are simple to use and offer high levels of protection.
A web wallet uses the resources of wallet companies such as Coinbase to provide encryption protocols and payment systems. You only need to log in with your email to put a casino deposit into a Bitcoin wallet. A software wallet is an app you download onto your computer; you then create an account and make Bitcoin purchases from there. These are more secure than web wallets since you control all the private data.
Once you decide which Bitcoin wallet you’re going to use, opening your crypto wallet is as easy as making an account. Before you can make a casino Bitcoin deposit, you’ll have to fund your wallet by exchanging your fiat money into Bitcoins.
2. Place Funds Into Your Bitcoin Wallet
When you open your wallet account, it’s time to place funds in it. This can seem intimidating, as the price of one Bitcoin rose to $68,000 near the end of 2021, with constant critical fluctuations. Luckily, you don’t have to buy an entire Bitcoin; instead, focus on purchasing fractional amounts like 0.001 BTC.
It’s also best to check whether you can buy Bitcoins directly from your friends, family, or people you know to avoid pricey transaction fees. Before you place a casino deposit with Bitcoin, you’ll need to use fiat currencies like the US dollar to buy BTC. You can transfer Bitcoins via many major online cryptocurrency exchange services that are far more secure than some sites with Bitcoin sellers. Another popular option is to use local Bitcon ATMs.
Your Bitcoin wallet has two keys called receive address and send address. A receive address is a publicly visible string of letters and numbers you share with others so you can receive a Bitcoin payment from them. The send address consists of a private key you employ to make Bitcoin payments to other parties, such as Bitcoin casinos, in the form of tokens.
3. Create a Casino Account
At this stage, there’s only one thing preventing you from placing a casino-online deposit with Bitcoin. Now it’s time to register with the Bitcoin casino by creating your account. Click on the sign-up button on a casino site to enter your email, create a username and password, and type in a promotional code if you have one.
Most Bitcoin casinos will only ask you to provide this much data. However, some casinos might ask for more personal information, such as your name and residential address. Be sure to include the correct email address, since you’ll have to click on the verification link the casino sends to you. Verifying your account will allow you to make an online casino Bitcoin deposit or withdraw Bitcoins.
4. Use Your Bitcoin Bankroll
Just as your wallet has send and receive addresses, so does a Bitcoin casino for payments. Always check the reviews of Bitcoin casinos (like FortuneJack) to see what their banking options are like before making a decision. Once you create an account, click on the deposit, cashier, or banking button. Here, you’ll see the minimum amount you can deposit in crypto or fiat currency. You’ll also see the casino’s receive address, either as a string of letters and numbers or a QR code you can scan using a smartphone.
In your cryptocurrency wallet, select the amount you wish to deposit and type in the casino’s receive address or scan the QR code when you get a transaction prompt. An instant deposit goes to the Bitcoin casino. It can take anywhere from a few moments to 24 hours before these funds show up in your casino account. After that, you’re ready to play casino games.
Remember that Bitcoin exchanges do not support crypto transfers for gambling online; doing so can get your account banned. Some services, such as Coinbase, offer to buy Bitbook Gambling cryptocurrencies based on the Ethereum (ETH) blockchain. Also, be aware that it’s mandatory in some countries to report Bitcoin gambling earnings for taxation.
As you can see, depositing at cryptocurrency casinos is accessible and straightforward. We recommend using online US dollar-Bitcoin converters when making a Bitcoin casino minimum deposit.
How do you gamble with Bitcoin?
In your Bitcoin wallet, enter the amount you want to transfer to your casino account, along with the casino’s receive address.
Do casinos accept Bitcoin?
Not all online casinos work with Bitcoin or other cryptocurrencies. Always check their payment section or the FAQ to see if they support crypto coins.
What online casinos accept Bitcoins?
There are plenty of gambling slot sites that accept Bitcoins. Always check the FAQ and payment sections to check if the casino site you’re visiting accepts Bitcoins.
Can I use Bitcoin to gamble online?
Check the above article – titled “How to Deposit At a Bitcoin Casino” – for more detailed information.