Bitcoin is a virtual, decentralized currency. It was created in 2008 by an unknown individual or group under the pseudonym of “Satoshi Nakamoto”. Probably because of the uncertain legality of this project, the creator remains unknown. Since 2008, Bitcoin has become the most popular virtual currency in the world. Bitcoin is created through the “mining” process, with ownership resulting in many benefits:
- Fast and easy transaction
- Very low fees
- The transaction does not carry any personal information
- High security
- Can be “mined” by everyone
Bitcoin became extremely popular, especially at the end of 2017 when prices reached almost 20 000 USD per unit. The current value is about 6 000 dollars, but it certainly varies over time. It is difficult to predict how Bitcoin will evolve in the future. Mining Bitcoin is becoming increasingly difficult, and fluctuations in its value is a certain risk. Despite these facts, the benefits still outweigh the disadvantages.
There are several ways of obtaining a Bitcoin:
- Buy it online
- Buy at an ATM
- Buy from other people
- Mine it
If you would like to send Bitcoin to an online casino, the easiest way is to buy it online with a Bitcoin Wallet.
How to Buy Bitcoin Online
At first, you need to exchange some Bitcoin. Bitcoin is basically just another currency, which can be purchased with your money just as easily as you purchase any foreign currency. You need two things in order to buy and send Bitcoin:
- Exchange account
- Bitcoin Wallet
There are several Bitcoin companies in the world. And different companies offer different services. Some offer only an exchange, others offer only the Wallet, and some offer both. If you do not know how to find a Bitcoin company, check a Wiki page with cryptocurrency companies.
It is very important not to send money directly from the exchange platform to an online casino. You need to use a Bitcoin Wallet as the intermediary. Exchange companies do not allow Bitcoin to be sent to online casinos and if you try to do this, they will eventually block your account. You need to set up two accounts. A very popular combination is:
- coinbase.com – exchange Bitcoin here
- blockchain.info – Bitcoin Wallet, from where you can send Bitcoins to the casino
Setting up an exchange account (e.g. at coinbase.com) is pretty easy and similar to creating an account with an online casino. Just register and verify your account. After that, you need to specify a payment option, which may be a bank transfer, credit card, e-Wallet or a prepaid or gift card. Just click on the Add Payment Option in the Settings menu.
Once you have added the payment option, you can purchase some Bitcoin. Click on the Buy/Sell option, set up the Payment Option and enter how much you want to exchange. Do not be alarmed if you can not buy a whole Bitcoin. You can easily purchase e.g. 0.0165 BTC and that is perfectly in order.
If you choose as a payment method a credit card/debit card, Bitcoin will be available instantly. If you use a bank transfer, it could take up to 5 days. There is an exchange fee of approx. 1 %. Do not forget to read general terms and conditions, you will find a lot of useful information there.
How to Send Bitcoin into Online Casino
After you buy a Bitcoin, you need to store it somewhere. That is why you need a Bitcoin Wallet. At this point, you send Bitcoin to your Bitcoin Wallet. After creating an account (e.g. at blockchain.info), just click on the Request button, which generates an address for you in the form of a chain of random letters and numbers.
Copy that address and go back to your exchange account, where you click on the Send/Request button, and insert that address into the Recipient input field. Then enter how much you want to send. You can enter the amount as BTC or USD, it makes no difference. Finally, just Send and Confirm the transaction.
Now go back to your Bitcoin Wallet and wait until the transaction is fully confirmed. You can see the status in the Transaction section. The confirmation process could take from about 15 minutes up to even one hour.
When your transaction is successfully confirmed, you can deposit Bitcoin in the online casino. The process is very similar. Go to your casino’s Deposit section, choose a Bitcoin option and enter the amount you wish to deposit. In the next step, the casino generates an address for you.
Copy this address and go to your Bitcoin Wallet. Click on the Send button and paste the address into the input field. Then go back to the casino cashier and copy the exact amount of Bitcoin you want to deposit and put it in the Bitcoin Wallet input field under the Address. Authorize the transaction and wait until the Bitcoin is transferred to your casino account. Again, it could take a couple of minutes or a little longer.
How to Play in Bitcoin Casinos
Because of the easy transactions and certain anonymity, Bitcoin has become very popular among online casinos and players. This is true especially among US online casinos, pretty much all of which offer Bitcoin deposits and withdrawals.
Best Bitcoin Casinos
|Name||US Friendly||Welcome Bonus|
|Bodog Casino||YES||Up to $600||Read Review||Play Online|
|Café Casino||YES||Up to $5000||Read Review||Play Online|
|Bovada Casino||YES||Up to $1000||Read Review||Play Online|
|Ignition Casino||YES||Up to $1000||Read Review||Play Online|
|Omni Slots||NO||Up to €300||Read Review||Play Online|
|Casinia||NO||Up to €500||Read Review||Play Online|
|Loki Casino||NO||Up to €100||Read Review||Play Online|
|Bob Casino||NO||Up to €100||Read Review||Play Online|
|Mars Casino||NO||Up to €100||Read Review||Play Online|
|7Bit Casino||NO||Up to €100||Read Review||Play Online|
|CloudBet||NO||Up to 5 Ƀ||Read Review||Play Online|
|MonteCryptos||NO||Up to €120||Read Review||Play Online|
Most casinos offer more than one option of sending money to them, but there are casinos which are solely Bitcoin-based. Pure Bitcoin casinos do not have to offer the same quantity of games or services as casinos with other deposit options. This is because not every software developer makes games which allow betting in Bitcoin.
Otherwise, playing in a Bitcoin casino is practically the same as playing in every other online casino. After registration and account verification, players will make a deposit and then play. Bitcoin casinos also offer very similar casino bonuses. There are no-deposit bonuses, deposit bonuses or free spins on new or popular slot machines. As always, just do not forget to read the Terms and Conditions of bonuses when you claim one.