Guide to Bitcoin Casinos

What is Bitcoin?

In order to understand how Bitcoin casinos work, you first need to understand how the cryptocurrency works. Bitcoin is a decentralized and digitized form of currency. It has no affiliation with a country or central source and it is a great alternative to traditional currencies.

Obtaining Bitcoin

If you’re planning on playing at Bitcoin casinos, you obviously need to get your hands on some Bitcoin. There are a few different ways to do this, including:

  • Buying from the Bitcoin Marketplace- This is the easiest way to get Bitcoin. All you need to do is buy it online using your credit card or an EFT.
  • Buy from a trader- To buy Bitcoin from a Bitcoin trader; you’ll need to access a specific marketplace. There is even the option of buying Bitcoin in person.
  • Sell something online in return for Bitcoin- Advertise a product or service online and specify that you’d like to get paid in Bitcoin.
  • Mine Bitcoin- This method is slightly more complicated as you’ll need to obtain all the equipment necessary in order to start mining Bitcoin and become part of the network.

Bitcoin Wallets

The only way to store and make use of your Bitcoin funds is to have a Bitcoin wallet. A Bitcoin wallet is a virtual storage facility for your Bitcoin funds and they come in many different forms. Once you have a Bitcoin wallet, holding funds, you’ll be able to make your first deposit at a Bitcoin casino.

What is Bitcoin Casino?

A Bitcoin casino is just like any other online casino, except for the fact that it offers deposits and withdrawals in Bitcoin. There are certain online casinos that cater to Bitcoin users exclusively and others that cater to Bitcoin users as well as those using traditional currencies. As Bitcoin continues to grow in popularity, more and more online casinos are accepting it as a payment option.

Advantages of Using Bitcoin at Online Casinos

  • Bitcoin casino transactions are very fast and are usually free. In some cases, the casino will charge a small handling fee but Bitcoin is usually the fastest and cheapest method.
  • Bitcoin is an international currency. With Bitcoin it doesn’t matter where you are in the world, you can still get your funds where they need to go as it is not yet heavily governed.
  • Bitcoin casinos are often more modern and innovative as they are run by technology enthusiasts that want to bring you the best games possible.
  • Bitcoin provides anonymity. There is no need for you to use your real name when opening your Bitcoin wallet, so you can rest assured that your personal details are well-protected.

How to Play at Bitcoin Casinos

Once you have funds in your Bitcoin wallet you are ready to start playing at a Bitcoin casino. All you need to do is follow the below steps:

  1. Choose a casino. Find a Bitcoin casino that suits your fancy.
  2. Sign up! Create an account with the online casino, you may need to verify your contact details, but all in all the process should not take too long.
  3. Make a deposit. Once your account is activated make your first deposit via your Bitcoin wallet.
  4. Get playing! Choose a game and start playing. It’s as simple as that!

Where to Play

When choosing an online casino, it’s very important to do your homework. While most online casinos are 100% safe, there are some scam artists out there. Make sure that the casino you choose has all it’s legislation in place and has been around for long enough to have gained some positive reviews. Trust the experts to give you advice on some of the top Bitcoin casinos you can choose from. While these casinos are specially designed for Bitcoin transactions and play, there are many mainstream, more popular casinos which offer Bitcoin payments among other more traditional methods.

Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.


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