In the bright world of gambling, there is always a place for something new. New games, new soft providers, new features and new payment methods. Today, bitcoin casinos are gaining momentum. While some of the casinos are now accepting bitcoins as one of the payment methods, other ones handle Bitcoins only. We believe that in the long run, Bitcoins will make the gambling process much easier as it’s safe, fast and doesn’t require any banks as agents.
What is Bitcoin and how does it work?
Bitcoin is the cryptocurrency or, to make it simple, the electronic currency. With this virtual money users now have no need to pay interests to banks as they are not involved in the payment process anymore. The Bitcoins value is policed by the miners — users who create Bitcoins using their computer and mathematics. You can use Bitcoins to make payments, buy goods on the Internet or make deposits in the best online real money casino sites.
How to setup a Bitcoin account?
Even though Bitcoin sounds tricky, it’s very easy to make an account and immerse into the Bitcoin gambling. The first step is to create the online wallet where your Bitcoins will be stored. There are several kinds of Bitcoin wallets and the difference is explained on bitcoin.org. This is also where the wallet can be created. Now, when you have a wallet, you need something to put there. You can get Bitcoins directly from another user, buy them from one of the online resellers or exchange from the bank account. The last step is to find a trusted Bitcoin casino and make your first deposit.
What are the advantages of using Bitcoins?
Bitcoins are not widely used for gambling yet but that’ is not because they are bad. There are many advantages of using this cryptocurrency:
- Bitcoins are completely safe to use. If you keep your wallet in a safe place (in a reliable cloud service or on your own hard-drive) there is no way it can be hacked or stolen;
- The banks are now not involved in the payment process so you are not paying any additional fees;
- When you use Bitcoins for gambling transactions, the house edge is a little bit lower than usual. It’s not a big deal if you are playing once a year but can be profitable for active gamblers.
Really, I can play in online casinos with Bitcoins?
Yes, some of the countries have already made the Bitcoin casino legal. It’s not like you can use Bitcoins in any casino you want but it’s getting more and more popular and we hope that most of the large online casinos will soon be accepting Bitcoins. If you are looking for a bitcoin casino, USA is one of the countries where you can already do it.
Is Bitcoin safe?
Completely, until you handle them carefully. All of your Bitcoins are stored in your virtual wallet that you can either keep online in the cloud services or offline on your computer or flash drive. The thing is, if you lose that flash drive, you will lose your Bitcoins too. So it’s very important to have backups in case something happens.
How to make Bitcoin deposits?
Making Bitcoin deposits is just as easy as it would be with your usual credit card or any kind of e-wallet. The first step is, obviously, to create a Bitcoin wallet. When you are done, go to one of your favorite Bitcoin casinos (or read our the best casino online reviews first) and choose Bitcoin as your depositing method. Then you will need to enter the amount you want to deposit and your Bitcoin address — the set of number and letters used to identify your account.
How to withdraw Bitcoins?
If you’ve had a lucky day and won enough money to withdraw your Bitcoins, you will need to perform all the same steps we’ve mentioned above. After you enter the amount you want to withdraw and your Bitcoin address, the money will be transferred to your Bitcoin wallet.
Are there any commission fees?
As banks are not included in the Bitcoin payment system, you are not paying anything extra to one of them. But some fees are still applied by the casinos so you will need to check their Terms & Conditions before making a deposit. usually, these fees are relatively low and don’t exceed the amount you would pay with any other depositing method.
What is the house edge in Bitcoin casinos?
The house edge in most of the Bitcoin casinos is about 1.5-2% which is a little bit lower than the usual house edge.
What are the casinos accepting Bitcoins as the payment method?
Unfortunately, there are not too many casinos where you can make a Bitcoin deposit yet but we still have something to offer you. One of the most famous Bitcoin casinos is the Bodog casino. here you can use your Bitcoins to play video poker, blackjack, video slots or make the sports bets. The Bodog even has a special Bitcoin casino bonus that will be offered to you when you make your first deposit. As for the casinos available in the USA, these are the SlotoCash and the Uptown Aces that started accepting Bitcoins in April 2016. Both of them have pretty impressive sets of games and are safe and reliable. Unfortunately, a live Bitcoin casino doesn’t exist yet but we hope that some of the popular live casino providers will start accepting Bitcoins soon.
Can I use Bitcoin to gamble in Canada?
As always, there is always a “but” when it comes to online gambling in Canada. Due to the special country regulations, all the Bitcoin operators in Canada should be registered in a special way which makes this payment process not that easy anymore. Today, there is not a single casino online Canada that accepts Bitcoins but there is still a hope that the situation will change.