How do Bitcoin casinos work and how to play safely at online Bitcoin casinos
Online casinos are now dominating the scene as more and more people are turning to this type of online entertainment. With the growing popularity, online casinos are under pressure to offer a wide range of different currencies for gambling. The most famous being the digital currency Bitcoin. But how do Bitcoin casinos work? Is it safe to play with Bitcoin and other cryptocurrencies online? You’ve come to the right place if you want to find out how Bitcoin casinos work and if they are safe – read more to find out!
Bitcoin casinos work like other regular online casinos, the only difference is that this casino allows you to deposit or withdraw bitcoins instead of the usual payment methods. Besides Bitcoin, other cryptocurrencies like Litecoin and Ethereum are also popular for online gambling. Some casinos add Bitcoin to their range of accepted payment methods. Then there are online casinos that accept just Bitcoin amongst other cryptocurrencies.
While online casinos will be the first to accept Bitcoin, there are other forms of gambling that also accept Bitcoin payments. These include the main forms of gambling entertainment such as online poker, online lottery and sports betting. Players now have more choices when gambling online. Online slots are still the most popular as they are often associated with higher payouts. Bitcoin casinos are popular because of their low wagering requirements and the advantage of low casino payouts.
Firstly – How do Bitcoin Casinos work exactly?
Bitcoin Casino is an online casino that uses blockchain technology to host and manage their games. Players can deposit Bitcoin to the casino, play popular online gambling games like slot machines or live casino. With every bet, you will receive a confirmation message from the Bitcoin network confirming that the transactions have been accepted. This is done with a private key and a public address. If a player wins, they can withdraw their winnings back to their Bitcoin wallet. That’s a simple overview of how do Bitcoin casinos work.
Get Bitcoin First
Before you jump in to figure out how do Bitcoin casinos work, your first step should be to get a Bitcoin wallet. Fortunately, these are free and can be easily accessed online. You can download it to your device or use it directly from your browser. The next step is to buy Bitcoin. There are many ways to get Bitcoin. You can visit a Bitcoin exchange where you can buy Bitcoin in regular currency, or you can buy Bitcoin from someone who already owns them. As a rule, this is significantly cheaper than buying on the exchange, but you should be careful and check the reliability of the seller.
There is also a peer-to-peer market option where you can sometimes trade goods and services instead of actually paying for Bitcoin. Another option is to become a bitcoin miner, which is very popular with Bitcoin users (but bad for the environment). The disadvantage is that as a Bitcoin miner you need special hardware. Every time you receive a Bitcoin, it is deposited directly into your digital wallet.
Why play at Bitcoin Casinos?
There are three main advantages to playing at Bitcoin Casinos. Payment is free, which means that neither you nor the casino have to pay extra to deposit or withdraw Bitcoin. Bitcoin has no links and are in no way affiliated with banks or governments. What this means is that your money cannot be seized like traditional money. You are in complete control of your money which makes it safer to manage – that’s how Bitcoin casinos work and it’s the main appeal of Bitcoin gambling.
The biggest advantage of playing at Bitcoin casinos is the level of anonymity. Many people are not interested in revealing their identities, but some gamers are afraid that their gaming habits will harm them. For these players, Bitcoin is ideal as it is completely anonymous. To play at a Bitcoin casino all you need to do is provide your email address. You therefore do not have to provide any personal data, including your name and address, for example.
How to start playing at Bitcoin Casinos
Before you can start, you need to complete a few steps. First, you need to find a trustworthy and reputable Bitcoin casino. You can choose between an online casino that only accepts Bitcoin or one that offers Bitcoin as one of their payment options. We’ve included our top choice for the overall best Bitcoin casino – 7bit Casino. To find out why we think they are a solid casino and a great choice for Bitcoin players, read the 7bit Casino Review.
Before you decide to sign up for an online casino, there are four things you should keep in mind. Make sure they are safe as you want to choose a reputable Bitcoin Casino. Also, check that the casino is licensed and regulated as this is an important factor in determining whether a Bitcoin casino is legit or not. Another thing to check is if the casino offers a wide variety of games. Making sure that you have a good selection of games is an important and key factor in maximizing your entertainment.
Always look for a casino that has the best bonuses! There are thousands of online casinos to choose from, but when it comes to it, it’s always best to check out their promotional offers. Bonuses can go a long way, especially if you are low on your balance or want to raise your playing funds, but at the same time strengthen your game.
Needless to say, you should always check that the casino you are trying to join accepts Bitcoin as a payment option. Otherwise, you will go through all the steps to create an account twice.
Hopefully now you have an understanding of how do Bitcoin casinos work. Once you have decided where to play, you need to open a casino account, provide your details and choose Bitcoin as your payment method and currency. Once your casino account is created and ready to use, you can start funding your casino account with Bitcoin. To do this, you need to open your digital wallet and select the amount of Bitcoin that you want to transfer to your casino account.
Don’t forget to claim your welcome bonus! Most Bitcoin casinos offer great welcome bonuses, so look out for those! Just double-check if the bonus is automatically added to your funds or if you need to enter a bonus code. After your account has been funded, you will have many games to choose from. All you have to do is choose the game you want, choose your bet amount and start playing.
7bit Casino – our recommended Bitcoin Casino
Click the Play Now button below and you will be automatically transferred to 7bit Casino – our recommended Bitcoin Casino! Now that you know exactly how do Bitcoin casinos work, why not put it into practice?