Buy, Store, Deposit and Withdraw Bitcoins from a Bitcoin Casino

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 A BTC wallet is where you store your coins after acquiring them from a crypto exchange or a gambling casino. This step will enable you to store your bitcoins in a place that you are the only one who can access it through the private keys provided at the end of the sign-up process. It is advisable to keep your keys as private as possible to keep away scammers from accessing your wallet. 

Remember to write down the keys in a piece of paper for account retrieval purposes in case you lose your phone. 

There are few choices of BTC wallets available. I highly recommend a hardware wallet, even though they are not freely given. You will spend some few pennies on acquiring one, but they are worth the cost. There are several wallets available in the market for crypto users to choose, but I prefer Trezor and Ledger wallets. 

According to many crypto users, Trezor wallets are easier to handle and have a more straightforward log-in process compared to Ledger wallets. Besides, Trezor regulates crypto forks more efficiently; hence users are always assured that their investments are secure. 

Practice the crypto rule of the thumb when purchasing a hardware wallet; make direct purchases from the manufacturer, for instance, Trezor.io and Ledgerwallet.com. Avoid third-party deals like buying via Amazon since the trust of third parties in the crypto space is poor. Not long ago some ill-intentioned middlemen were reported to have copied private keys of the hardware wallets they had sold. Once buyers deposited substantial amounts in those wallets, the fraudsters took control of the wallets using the stolen private keys. 

Those who are not planning to hold the coins for long or those intending to stake small amounts can take advantage of desktop wallets, which are downloadable, or online wallets that are quickly and securely accessible. 

There are applications, online wallets and desktop software available for crypto users to download and use. I strongly recommend the wallets below to our users: 

Trezor (hardware wallet, buy directly from Trezor.io to avoid traps of ill-intent mediators).

Ledger (hardware wallet, make your order from Ledgerwallet.com and not through Amazon).

GreenAddress (an online wallet that is freely accessible and safe for use).

BRD (there are two versions for iPhone and Android users).

Electrum.org (this is desktop software that is also very secure). 

US citizens are more likely to purchase their BTC from Coinbase, Localbitcoins, or Bitquick crypto exchanges. These are the top three exchanges, but there exist many other crypto markets to exploit. So, don’t limit yourself to only those three.  

Here you are with your dollars, but you need BTC to gamble on a BTC Casino. Cast out your fears and pay close attention to the next steps. 

 Coinbase (special guidelines)

Coinbase is the most significant USD to BTC crypto exchange in the US. Hence, it is safe to purchase your wagering coins from them. The exchange offers two payment methods; direct purchase by linking your bank account and indirect purchase by making good use of your debit card. Any of these methods will enable you to make your BTC order promptly and safely. 

Note: You can’t use Coinbase to send or receive coins from a betting platform directly! 

Localbitcoins 

This is a Person-2-Person (P2P) crypto market people buy and sell BTC. We will only talk about its basics, but you can read a comprehensive Localbitcoins review here if you are interested. 

Do not rush for the offers which appear too good to be true, especially from new traders. Scammers like using new accounts with lucrative deals.   

Avoid sellers who have little or no feedback.

Avoid purchasing significant amounts at once. Make sizeable purchases at different intervals. 

Bitquick

This is a BTC to fiat marketplace with proof of BTC held in an escrow system. Typically, sellers hold their coins with Bitquick, and buyers scrutinize the available offers before making acquisitions. 

Buyers finalize deals by taking sellers’ bank details and depositing fiat currency there. After obtaining a receipt of the bank transaction carried out, you create and upload a clear picture of it to Bitquick. After verifying it, Bitquick support releases the agreed amount of coins. 

Pick the best option from the above exchanges. Besides, you can also search for a bitcoin ATM near you, pay via fiat currency and you will receive your coins in your personal BTC wallet. Bitcoins ATMs are being installed at a high rate in the US, and the next five years each neighbourhood in the US will own at least two BTC ATMs. 

Sign up or sign in (if you already have a betting account) to your favourite BTC Casino. Most BTC Casinos have simple interfaces, so don’t be worried about finding the deposit button. BTC is the major cryptocurrencies that most casinos use as a medium of exchange. 

Click on the deposit button, and you will see a deposit address to use. Copy it.

Visit your BTC wallet and scroll down to the ‘Send’ option. Enter the amount of BTC you plan to use and paste the address you copied from your BTC Casino in the ‘Send To’ section. Verify both your gambling casino address and the figure you are transferring before clicking the ‘Send’ button. 

Back to our gambling casino account. Your coins will probably reflect within some few minutes. Most BTC casinos show an equivalence of your coins in USD; hence you will likely make an informed decision of the amount you are staking.   

There are several methods of converting BTC into fiat currency. We shall discuss four of them in this guide. 

Coinbase/Coinbase-pro. Access your Coinbase account, click the ‘Deposit’ box and select BTC as your deposit currency. Transfer your coins from your Private BTC wallet to your Coinbase account using the address provided. Trade you BTC with USD and withdraw your money to your bank account. 

Localbitcoin. The platform allows users to buy and sell BTC. After creating an order, the buyer will deposit the agreed amount into your bank account. After confirming the accumulated amount, you will then release the escrow. 

You can also use Bitquick. You will act as a seller, and the whole process is like that of Localbitcoins.  

Lastly, you can explore USA Fiat Exchanges, which are fully licensed and regulated to sell your cryptocurrency.