How to get started with Bitcoin Casino

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Bitcoin Casinos: A Comprehensive Guide to Getting Started with BTC Gambling

Bitcoin casinos have taken the gambling industry by storm due to their innovative technology and high-quality gaming experience. Players appreciate the anonymity and data protection these sites offer, along with some of the highest limits on the market and the most fleshed-out VIP programs for high rollers.

In this article, we will provide you with a step-by-step guide on how to:

• Register a BTC wallet for storing Bitcoin or other cryptocurrencies
• Purchase Bitcoin or other cryptocurrencies using fiat currency
• Transfer your Bitcoin or cryptocurrencies to your wallet
• Deposit your Bitcoin or cryptocurrencies at your favorite Bitcoin casino
• Withdraw your earnings from a Bitcoin casino
• Convert your Bitcoin into fiat currency

Before we dive into the details, let's compare Bitcoin casinos with traditional casinos. Despite its controversial reputation in the financial space, Bitcoin has steadily become a popular alternative to the widely accepted USD and EUR. With BTC, there is no verification process, making it convenient and cost-effective for anyone looking to send payments anywhere in the world. This is particularly useful in the US, where depositing and withdrawing with traditional currencies is slow and expensive. Some of the benefits of using BTC for gambling include:

• Anonymity: Your private information remains protected.
• Secure transactions: Thieves cannot intercept your credentials.
• No fee structures: Bank and transaction fees can increase, but not with BTC.
• Quick, active deposits and withdrawals: Using the ACH is a thing of the past.

A Bitcoin or crypto wallet is where you store your gambling tokens after acquiring them from a crypto exchange or gambling casino. It is advisable to keep your private keys private to prevent scammers from accessing your wallet. Hardware wallets like Trezor and Ledger are recommended for their security and ease of use, but make sure to purchase directly from the manufacturer to avoid fraud. Desktop wallets and online wallets like Crypto.com, Blockchain.com, and Swissborg are also options for those who plan to hold smaller amounts or not hold them for long. It is important to choose a wallet that fits your needs, and remember to write down your keys for account retrieval in case you lose your phone.

There are several options for Bitcoin (BTC) wallets available, but I highly recommend a hardware wallet. They may cost a bit to acquire, but they are worth the investment. Some popular options include Trezor and Ledger wallets. Many users find Trezor wallets easier to handle and have a more straightforward login process compared to Ledger wallets. Additionally, Trezor regulates crypto forks more efficiently, ensuring users' investments are secure. When purchasing a hardware wallet, it's important to follow the rule of thumb and buy directly from the manufacturer, such as Trezor.io and Ledgerwallet.com. Avoid third-party deals like buying through Amazon, as trust in these parties in the crypto space is low. Recently, ill-intentioned middlemen were reported to have copied private keys of the hardware wallets they sold, allowing them to take control of buyers' wallets after substantial deposits were made.

For those who are not planning to hold the coins for long or those intending to stake small amounts, desktop wallets, which are downloadable, or online wallets that are quickly and securely accessible, are good options.

Crypto players  are more likely to purchase their BTC from Coinbase, Binance or Crypto.com.. These are the top three exchanges, but there exist many other crypto markets to exploit. So, don’t limit yourself to only those three. The most common online wallet in Europe is Crypto.com, Coinbase or hardware wallet like Ledger.

Here you are with your dollars or other currency, 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!

Binance

 Binance is an exchange that helps individuals and institutions alike to buy, sell, and trade a vast array of cryptocurrencies. With a user-friendly interface and a comprehensive suite of trading tools, Binance provides an intuitive and seamless experience for both novice and seasoned traders.

Crypto.com

This is one of the fastest-growing companies in the crypto space at the moment. They launched their service in late 2019 and have over 75 million members already. You can register easily with your phone, and once you are verified, you can start buying or transferring crypto to your wallet. Crypto.com also has its own coins MCO and CRO, and if you buy CRO, you can also stake your currency and get interest of your investment.

Once you have acquired the gambling bitcoins, you must transfer them to your wallet. Remember earlier on we said that it is impossible to send and receive cryptocurrencies from betting casinos into crypto exchanges.

Now, how do you transfer your coins from an exchange to a personal wallet?

1. Log into your personal BTC wallet.
2. Click on the button labeled “Receive,” and then select the option “Create a New BTC Address.” Copy this address.
3. Open a new tab and log in to the crypto exchange where you made your purchase. Scroll to the button labeled “Send” and click it. Paste the address you copied from your BTC wallet.
4. Copy-pasting will help you avoid providing a wrong address, a mistake that arises when users try to type their addresses. Double-check that you have copied the correct address before proceeding.
5. Enter the amount of BTC you want to transfer. Verify whether you have provided the correct address and delete any spaces before and after the address. Click the send button to complete the withdrawal.
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It usually takes a few minutes to receive your coins in your wallet. The BTC network traffic determines the duration at the time of the transaction. You will receive the same amount of coins you sent, but a small mining fee will be deducted from it. Mining charges vary with market conditions, though they are usually small portions.

Once you receive your coins in your BTC wallet, you are now one step closer to placing your bet.

Sign up or sign in (if you already have a betting account) to your favorite Bitcoin Casino. Most BTC Casinos have simple interfaces, so don’t be worried about finding the deposit button. BTC is the major cryptocurrency 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 your gambling casino account. Your coins will probably reflect within a few minutes. Most BTC casinos show an equivalent of your coins in USD or other currency; hence, you will likely make an informed decision of the amount you are staking.

To cash out your winnings from the bitcoin casino, you must create a new BTC address in your BTC wallet. 

Click on the cashier in the casino > withdraw button in your casino account. Enter the figure you intend to cash down and paste your BTC address. 

There are several methods for converting BTC into fiat currency. In this guide, we will discuss four of them, using Coinbase and Crypto.com as two examples.

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 provided address. Trade your BTC for USD and withdraw the funds to your bank account.

Crypto.com: This Exchange allows users to buy and sell BTC. After creating an order, the buyer will deposit the agreed-upon amount into your bank account. Once you confirm the receipt of the accumulated amount, you can release the transfer and you fund will show up at your Bank account.

Regulation: Most online casinos have a license in the country they are operating in. In Europe, many online casinos have a license from the Malta Gaming Authority (MGA) and in the US, they have licenses for each state where online gambling is allowed, such as a New Jersey license. However, cryptocurrency is not yet regulated, so most Bitcoin casinos have a license from Curacao. Recently, the Malta Gaming Authority has applied to the Maltese government to add cryptocurrency to their online casinos, which could be a big step forward for Bitcoin casinos in Europe, and may be seen in the US as well.

Deposits: New crypto casinos offer players the option to pay with Bitcoin and other cryptocurrencies, such as Ethereum and Dogecoin, whereas traditional online casinos only accept fiat currencies like EUR or USD.

Bonuses: You can find generous bonuses when you sign up for a Bitcoin casino, but be sure to read the terms and conditions before making a deposit to understand how it works.

Games: Bitcoin casinos offer the same games as traditional casinos, but they also have games that are exclusive to crypto casinos, offering players more options to choose from.

Provably fair: This is a term used in crypto gambling to describe an algorithm that can be analyzed and verified for fairness by the service operator. This is only possible on real crypto casino operators.

Support: Support is often faster and more professional at new Bitcoin casinos, as they need to be on top of everything to compete with established online casino giants.

Bitcoin casinos that offer the option to play with Bitcoin or other cryptocurrencies can be found on our list below.