The emergence of cryptocurrencies and the growth of online casinos has resulted in a wide range of casino sites that now accept cryptocurrencies including Bitcoin. As a payment option it can be somewhat confusing for the average player not familiar with this payment option. Below is a guide on how to go about depositing safely and securely.
Funding your casino account using Bitcoin
Switching from cash to Bitcoins as a way of funding your casino account is in fact quite easy. In essence, the whole exercise translates to the three-step straightforward procedure highlighted below.
- Firstly, sign up for a Bitcoin wallet. Such a wallet is necessary because it helps you keep your Bitcoin safe and, you must have one if you intend to send people Bitcoin or undertake any other transaction with the currency. There are two types of wallets; the kind you can download to your PC or phone from the App Store and online wallets. Most casinos recommend the former because they are considerably more secure.
- Secondly, buy Bitcoin. You can purchase the currency from any of the many credible exchanges using your debit or credit card. Of the many exchanges available, Coinbase comes recommended because it is the largest Bitcoin brokerage and is easy even for newbies. Alternatively, you can review a few of the exchanges and see which of them best suits your needs.
- After buying Bitcoin, the next step is to transfer them to your wallet. This ensures that you have ultimate control of your money.
- Now that you have Bitcoin in your wallet, it is time to fund your casino account. To do so, proceed to the cashier section of the casino and choose the option of depositing using Bitcoin. Ensure you have your Bitcoin address as you will need to key it in to complete the transaction. Bitcoin deposits take about half an hour to get casino approval. You can start playing as soon as the cash is in your account.
Cashing out to your Bitcoin Wallet
To process withdrawal from your casino account, log in using your sign in details and navigate to the withdrawal tab. Provide the address of your Bitcoin wallet and enter the amount you wish to withdraw then follow the instructions to complete the process. The instructions may differ slightly from site to site and you can find out more about this here.
Most accounts process withdrawals into the same payment method a customer used last when making a deposit. Unless you are playing in an exclusive Bitcoin casino, if you used Bitcoin to fund your account the last time you deposited then you may not need to undertake the entire process mentioned above since the casino will automatically process the winnings to your Bitcoin wallet. Either way, it is wise to find out so you do not unnecessarily delay the withdrawal process.