Cryptocurrencies such as bitcoin are fast becoming one of the popular payment methods at top online casinos. Many payment methods have their own flaws, which is why players now resort to using bitcoin. in terms of security, bitcoin is far more secured than many payment methods used at betting sites. Interestingly, players that reside in a country where gambling is illegal can use bitcoin to make their deposits. The payment method is untraceable and you don't need to wait forever for your money to go through. We will be explaining all you need to understand about bitcoin in this article.
Bitcoin is a digital medium of making payments that allow people to access make financial transaction easily and quickly. The payment method is among the family of cryptocurrencies, and it is the most popular of them all. Players can use bitcoin to exchange normal local currencies and vice versa. Interestingly, people can earn bitcoin through the process called bitcoin mining. This process allows you to make calculations that help you generate new bitcoins. The reason most people resort to using bitcoin is that its transaction fee is considerably low when compared to other payment options. Also, it offers safety that other payment options like credit cards cannot guarantee.
The deposit process of using bitcoin is different from the traditional payment methods. Also, you don't need to provide any information to the casino when you want to deposit using bitcoin. All you need is to open a bitcoin wallet from which you can make deposits and withdrawals. The withdrawal process for bitcoin is different because the online casino sends funds directly to your bitcoin wallet. Alternatively, you can ask your casino to create a bitcoin account you can use. All you need to do is to provide the private key and public address. Then, you need to fund your wallet with bitcoins.
The next thing is for you to get the public address of your casino's bitcoin wallet or their QR code. Then, deposit the amount you want to fund your wallet with. On the flip side, you can make a withdrawal using bitcoin by going to the casino's cashier page. Then, you can select Bitcoin as your preferred withdrawal option. You will have to indicate the amount you want to send to your bitcoin wallet before you can proceed. The transaction time may take a few hours or days, depending on the online casino you register with. Also, make sure the public address you are sending to is correct.
As it is with other payment methods, top online casinos offer bonuses when you use bitcoin to make payments. One of the bonuses you can get when you use bitcoin as a payment method is Deposit match bonuses. The amount you deposit into your bitcoin wallet will determine how much you will get. Also, the amount you get depends on the gambling site you register with. Another bonus offer you can claim when you use bitcoin is no deposit bonuses. The bonus offer does not require players to make a deposit into their account before they can get it.
However, to make everything easy for you at a gambling site, you need to check the general and bonus terms and conditions. The reason is that the online operators have carefully outlined all the requirements you need to claim the bonuses in the bonus terms and conditions. One of the bonus terms and conditions you need to check is the wagering requirement of the bonus. To claim any bonus, you need to check how many times you will play bonus value before you can claim it. Another bonus term you need to check is the eligible games you can play with the bonus.