Bitcoin Gambling for Beginners
For many fans of adrenalin-inducing gambling, banking becomes a big problem. The number of payment systems, transactions, bank accounts, cards, and other forms of managing finances can be very stressful. Many companies working in the entertainment industry decided to allows their clients to use a variety of cryptocurrencies.
Bitcoin is a great neat digital currency that appeared on the horizon more than a decade ago and managed to change how we understand money in general. BTC is an abbreviation that many people know and some even have some coins ready for spending. If you are one of them, you should think about Bitcoin Gambling.
The most reliable and old of all coins still manages to impress all of us. The recent sudden surge to the historical high of $17900 per BTC was a massive moment for all holders. That was a moment when thousands of people became millionaires over the course of several weeks. While the whole storm is now calmer, the general population grew more aware of this cryptocurrency.
The history of this coin and its recognition by many domains and experts are far from being exact reasons why casinos decided to work with BTC and ETH. One of the biggest reasons behind this slow, steady inclusion of the crypto is that Bitcoin is completely anonymous meaning that you can use your finances however you like, and no one can trace your transactions.
Clients receive massive bonuses from casinos mostly due to the fact that there are fewer middlemen when it comes to transactions with BTC. Fewer restrictions and more operational freedom mean that casinos can cut their administrative expenses and provide a little bit extra for their paying customers.
Another benefit for gamblers is that fees are meagre compared to any other method of banking. Fees for Wire Transfers and VISA payments are enormous and often hurt users of casinos. Even payment systems cannot afford such low commissions. On the other hand, BTC and ETH can be moved quickly and without overpaying.
Are There Differences for Players?
The only difference is that casinos will know who makes a transaction. However, since you are using your coins to make deposits anyways, this is not a big deal. In terms of service quality, available entertainments, and other aspects of using online casinos, there are no notable differences. You will be able to play your favourite games and use your money as per usual.
Many players wonder whether they will be able to play all games if they pay with bitcoins. Yes. You will be able to play the vast majority of available games. Some casinos may have restrictions, but you will be informed about them. For example, http://slotmine.com/eye-of-horus/ is a game featured in many reputable online casinos. You will be able to spin the reels regardless of whether you paid with fiat money or bitcoins.
What should be noted is that transactions with bitcoins are instant. It means that sending money and withdrawing your winnings will take significantly less time. Withdrawing via a Wire Transfer or to your Visa may take several business days depending on which bank handles finances. With BTCs, this problem vanishes away. Every single financial operation is done instantly within the Bitcoin network.
How to Use Bitcoins
What you need to do is to get yourself a special wallet that allows you to store, send, and receive BTCs. There are various e-wallets that have the necessary functionality. Choose whatever you like and fully understand.
After registering in a casino, you will be asked to make a deposit. Amongst payment methods, find cryptocurrencies and choose which coins you want to use. Some casinos work exclusively with Bitcoins, but some offer you an opportunity to pay with Ethereum and other types of coins. For example, some Asian gambling sites accept Litecoin.
Are There Any Downsides?
You need to be technically savvy and learn new technologies. This is a minor downside that does not affect experienced PC users and dedicated people who can spend some time to learn a thing or two about their finances. However, there is a bigger issue — market volatility. The prices of BTC and ETH fluctuate constantly. Sometimes, drastic changes in value happen within a single trading day. You will need to learn how to work around such changes in prices.