Complete Bitcoin Gambling Guide – Read This Before Playing at Crypto Casinos
Check our brief crypto gambling guide to learn more before playing at Bitcoin casinos. We will cover how to pick a crypto wallet and choose the right BTC casino.
Bitcoin Gambling Guide: Everything to Know Before Gambling With Crypto
Gambling with cryptocurrencies is the modern way to gamble online – with Bitcoin casinos offering benefits that are virtually impossible to get at traditional online casinos.
If you’re completely new to using crypto casinos, then buckle up as we take a look at everything you need to know before you get started. We will cover the benefits of using BTC casinos, how to find one for yourself, as well as how to buy crypto and choose a digital wallet.
Let’s dive in.
How to Buy Bitcoin?
First things first – you will need to buy Bitcoin before you play at crypto casinos.
You can buy Bitcoin in a cryptocurrency exchange with your local currency. Most crypto exchanges will allow you to use your credit card to buy BTC or another crypto.
Below are a few e-wallets that we use when buying cryptocurrencies:
- Coinbase – Coinbase is one of the largest crypto exchanges in the world, good for beginner and advanced traders. Spread fees from Coinbase are normally in the range of 0.5%.
- Kraken – Introduced barely two years after Bitcoin, Kraken is one of the most reputable cryptocurrency exchanges available. It supports 8 fiat currencies and doesn’t support credit cards. With Instant Buy, the company charges a fee of 1.5% for other cryptos and 0.9% for stablecoins.
- Gemini – Gemini stands out as a leading platform for those looking to buy crypto. It’s an easy-to-use app, supporting more than 120 coins. Gemini’s 1.49% fee structure might be too much of a drawback for those just starting out in cryptocurrency.
Select the Best Crypto Wallet
Now that you bought your Bitcoin, you need to store it (unless the exchange doubles down as a digital wallet, in which case you can use it right away).
Many great crypto-wallets are available for Android and iOS platforms to download as applications. Some of them are:
- Electrum Bitcoin wallet
- BRD Bitcoin wallet
- Coinbase Wallet
- Trust Wallet
For more information on how to create a crypto-wallet, check out this guide.
Fund Your Bitcoin Wallet
Follow these steps to fund your Bitcoin wallet:
- Copy the Bitcoin address from your Bitcoin wallet. It can be found in the tab “Receive BTC,” and it’s a long hash code (address).
- Log in to your trading profile on the hosted Bitcoin exchange and submit a withdrawal request.
- Copy and paste your Bitcoin wallet address into the “Send to” field before approving the transaction.
- The funds will appear in your account within 10 minutes for most cryptos.
Choose the Best Bitcoin Casino for You
The biggest challenge of all is finding a legit crypto casino to use. Indeed, there are many popular and trusted crypto gambling sites out there that you can join – but it’s best that you do some research beforehand.
Below are a few things you must check before playing at a crypto casino:
- Make sure the casino you choose is licensed before playing
- Read the terms and conditions to make sure the welcome bonuses have fair wagering requirements
- Check whether the games are powered by renowned providers like Yggdrasil and Betsoft
- Read public reviews to see what other players have to say about a certain BTC casino
- Check whether the casino offers 24/7 customer support
If an online crypto casino ticks all of these boxes, then you can rest assured that it’s secure to use.
Make Your First Bitcoin Deposit at an Online Casino
Once you find your favorite Bitcoin Casino and register your account, you only need to make your first deposit. Follow these last steps:
- Log in to your casino account and click on the deposit button.
- Once you select a Bitcoin as a payment method, the casino will give you a unique blockchain address. Copy the address.
- Open your Bitcoin wallet and select “Make a transfer.” Paste your casino address in the “Send To” tab and click Send.
- The BTC transaction will take up to 10 minutes to process, and then you can play.
Final Words: Why Should You Gamble With Crypto?
So, now you know everything you need before playing at a Bitcoin casino – but what is it exactly that makes them so special?
The majority of gamers worldwide appreciate privacy as one of the key benefits of crypto casinos. Unlike credit cards or bank accounts, using your real name, address, phone number, or social security number to purchase Bitcoin is unnecessary.
Many of the best crypto casinos also don’t have a KYC procedure, which means you can remain completely anonymous.
The biggest benefit of all, however, is the ultra-fast payouts that you can enjoy at crypto casinos. If you use coins like Ethereum and Tether, you can withdraw your casino winnings in just 10 minutes. Using Bitcoin can take a bit longer.
Thanks for reading!