How Bitcoin Online Casinos Work

How To Get Started With Bitcoin

To start playing at Bitcoin gambling sites, you will need a Bitcoin wallet, of which there are many varieties available for free. The easiest way to get BTC for Bitcoin gaming is to purchase them through a Bitcoin exchange site. If you have a wallet and know its unique address, you can also have a friend send you coins.

There is also 'mining', which is the process that generates new Bitcoins. These new BTCs spawn from using a free software application called a Bitcoin miner. However, if you are just interested in getting Bitcoins ASAP so that you can begin playing at a Bitcoin casino, purchasing them from an exchange is by far the quickest method.

The best online Bitcoin casinos will also allow you to 'break up' your Bitcoins in smaller allowances if you don't want to wager a whole coin (currently 1 BTC is equal to around $400 USD).

Why Should I Deposit for Online Poker with Bitcoin?

Internet poker using Bitcoin may be still on the rise, but players in the know get some real benefits in a poker room that takes Bitcoin. Firstly it’s fast. It’s peer-to-peer with no middle man. On a poker site that accepts Bitcoin your funds go directly, and quickly, to the recipient. Security is also assured because you won’t need to submit any personal or financial information when playing internet poker using Bitcoin. Casinos also reward Bitcoin users with much lower rake charges. Gamers are allowed to enjoy a greater percentage of their poker winnings when they opt for a poker site that accepts Bitcoin.

The Difference Between Bitcoin And PayPal

Again, the main difference between using PayPal (which involves using 'real' currency) and a Bitcoin wallet is that with the latter there are NO transaction fees and the transferring of funds is instant. Also, unlike with PayPal, it's impossible for your account to be frozen or otherwise shut down. While PayPal can be accessed on any device with an internet connection, most Bitcoin wallets have to be tied to a particular physical device for added security.

...you pay no taxes on your Bitcoin winnings and wealth.

Advantages Of Playing At Bitcoin Casinos

Like any other online gaming website, the best online Bitcoin casinos offer sign-up bonuses, stylish and secure software, and a wide variety of games from video slots to roulette to blackjack to video poker. All of these features can be taken advantage of simply by depositing Bitcoins into your account--no real money required!

But there's something you need to be aware of before you play at a Bitcoin casino. With Bitcoin, one of its greatest features is also one of its greatest flaws. The fact that the cryptocurrency is unregulated means that its value fluctuates wildly from day to day. This can lead to sometimes confusing transactions if the value is disputed, though this is normally not the case when using the currency with online Bitcoin casino gaming at reputable sites.

The Legality Of Bitcoin Casinos

While the United States and some other countries have fairly strict laws in regards to opening up and playing at online casinos, those laws only regard gaming with the US dollar. Even though Bitcoin can be converted to real cash (through parties independent of these gaming sites), users are basically gambling with bits of computer code that they themselves (not any government entity) assign value to. Bitcoin casinos' legal status is just another advantage these sites have over more traditional ones.

Because there is no central institution regulating Bitcoin (for the foreseeable future at least), online casino Bitcoin gamers should feel comfortable and confident in wagering their Bitcoins.

At first, Bitcoin can seem overly-complex, however once you have a wallet and your first few coins, using Bitcoin gambling sites is the same as playing with any other form of currency on another, non-Bitcoin gambling site. With its near-instant transaction times, high security, and low risk of losing your funds due to Bitcoin casinos' legal status, Bitcoin gaming very well may be the way of the future.

Make Your Deposit for Online Poker with Bitcoin

1. Before you can hit the poker sites, you will need to create an eWallet for purchasing Bitcoin. Bitcoin friendly e-wallets are listed here: bitcoin.org/en/choose-your-wallet. There are device specific wallets if you prefer.
2. Once you are set up for Bitcoin you can buy currency at the exchanges listed here: howtobuybitcoins.info Everything is stored in your eWallet, which is what you will use for depositing at any online poker sites.
3. On a poker site accepting Bitcoin, find the option for the digital currency on the cashier page and select it as your deposit method. You’ll be redirected to your own eWallet for the transaction, and will need the Bitcoin address of the recipient. Enter this, and the amount you wish to deposit, and you’re done.

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