Bitcoin is the high-value cryptocurrency cash that has transformed the way people all over the world perceive and use money – possibly forever.
Completely digital and decentralised, Bitcoin is now being used to easily purchase a wide range of everyday things such as electronics, food products, vehicles and even property. Now, it can additionally be used to bet with when playing casino games online.
Many online casino sites are now offering the option for players to bet and use Bitcoin instead of regular money from traditional bank accounts, making payment an easier and more convenient process for international players.
Setting Up a Bitcoin Wallet
Before you go forth and start online betting with Bitcoin, you need to have a functional and active Bitcoin wallet set up for yourself. A Bitcoin wallet is exactly what it sounds like – a secure, private digital space that holds your valuable cryptocurrency for you (much like a bank account).
Once you have selected and set up your own Bitcoin wallet, it is from that space you can deposit, withdraw or send cryptocurrency between both regular currency bank accounts or other cryptocurrency wallets. It is via this wallet that you may bet online when playing casino games.
Once your wallet is active, you may deposit money from your regular bank account so that the wallet contains value. Remember to bear in mind that the value of Bitcoin tends to fluctuate, so the amount that you hold in your wallet may rise or fall at different times.
How to Start Betting
Linking your Bitcoin wallet to your favourite online betting sites is a simple and fast activity that anyone can do. The process itself is extremely similar to what you would do when linking a regular debit or credit card to a gaming site, with the minor difference of linking a Bitcoin wallet as opposed to a traditional bank account.
Simply access the gaming site you would like to link to your wallet, and visit the deposits page before selecting the Bitcoin option. Not all online gaming sites provide a Bitcoin option, so make sure the ones you use do before going through the trouble of creating and setting up a personal Bitcoin wallet.
The Benefits of Betting with Bitcoin
There are a series of great reasons why you should start betting with Bitcoin instead of regular cash. A huge factor is privacy; when you use Bitcoin instead of normal money, there is no record of your transactions and therefore allows for player discretion.
It also restricts geolocation tracking, enabling people from countries where gambling is illegal to continue playing without risking governmental surveillance. Betting with Bitcoin is a faster, more secure way to game online that is becoming a popular method for players all over the world – and it’s easy to see why.