Cryptocurrency, sometimes called crypto, is any form of currency that exists digitally or virtually and uses cryptography technology to secure online transactions. Cryptocurrency has two different categories: Coins and Tokens. Bitcoin, Ether, Binance Coin, Tether, Solana, XRP, Cardano, USD Coin, and Terra are some of the most popular cryptocurrencies – also try real money slots UK.
Most cryptocurrency casinos have made things easier for you to deposit and withdraw using bitcoins and other options. However, you should note that not all casinos support cryptocurrency deposits. Follow the guide below to start depositing and withdrawing at bitcoin casinos.
Open a Bitcoin Wallet
A bitcoin wallet is a hub for buying and selling bitcoins. While there are types of bitcoin wallets called software wallets, we’ll only focus on hosted wallets. A hosted wallet is a method that stores your bitcoins with a link to a third party, much like you would with a bank. It means that we’re using another company to handle the storage and security of our money in bitcoin form.
Using a Bitcoin Wallet is much like using something like PayPal. You will use your bank or credit card to load money onto your wallet, and then you can use that wallet to deposit into an online gaming site the same you would with PayPal.
To open a Bitcoin Wallet account takes the same procedure as opening a PayPal account.
Deposit Your Money into the Bitcoin Wallet
Once your account is signed up, the next step is depositing your money and purchasing some Bitcoin. Just like with any currency, the rate of Bitcoin also fluctuates.
You can deposit into your Bitcoin account through a debit/credit card. Some Bitcoin Wallets may allow you to make deposits through PayPal or other payment methods.
Deposit Your Bitcoins into the Sportsbook or Casino
Once your Bitcoin Wallet has all your money settled in, you’re ready to deposit it onto the online casino and play. You must navigate to the deposits page of the casino you want to play at and click on the Bitcoin option.
After clicking, the casino gives you specific instructions on making your deposit. The process takes a few minutes before the transaction is approved for you to play and bet.
Withdrawing Your Winnings
After you have played your luck and won, it’s time to withdraw. All you need to do is to process a withdrawal. The casino you’re playing will transfer all your Bitcoins to your Bitcoin Wallet.
Once you have received your bitcoins, you can decide to convert them back into your usual currency or use them to purchase things online from other sites that accept Bitcoin.
Bitcoin is a type of digital crypto-currency that most casinos commonly use. You can play and bet using cryptocurrency over the internet. Any transaction you make is anonymous, accessible, and uses no banks to complete your transactions.
It’s worth noting that any cryptocurrency transfer you make is permanent. It cannot be reversed or canceled.