There is no doubt that we are seeing a rise in online gaming that accepts Bitcoin as payment. It is a well-established payment option in online casinos and sports books, and you may be wondering how you can get in on the action. So here is a quick guide to using Bitcoin and other cryptocurrencies for online gaming fun.
Getting Started
The first thing is to find a casino or sports book that offers the games or sports you are looking for. Bitcoin Limbo is a popular game and can be played at many casinos. The first thing you will need is a crypto wallet account, so the first thing exercise is to find a reputable one, and there are many to choose from. Make sure they trade in the coin you want to use; and Bitcoin is one of the most popular, so you will have several options. Then you can head to the casino you have chosen and create an account with them, adding your wallet as your payment method. As well as Bitcoin, there are online games that accept Dogecoin, LiteCoin, and Ethereum, and you can place bets on BetFury using their proprietary BFG coin.
Place a Deposit
Placing a deposit is easy, and instructions will be provided, but you must send the funds to the provided email address, the transaction is recorded in the blockchain log, and money is instantly available for you to use. It was not that long ago that there were just a handful of casinos that accepted cryptocurrency, but now there are literally hundreds, and you can fund your play for table games, slots, video poker and more. When you make a deposit or withdraw winnings, you might find there is a fee, but this is quite common and often happens even with conventional payment methods. Fees should be displayed upfront so there are no nasty surprises, and generally, these will be lower than any other fees you can incur with things like PayPal or credit cards.
Why Choose Bitcoin for Games?
Digital currency is considered to be the safest way to make payments on any site, including casinos. Blockchain also offers total a totally anonymous way to move funds and data. There are two ways you can use Bitcoin at casinos, it can simply be a payment method offered by a casino that still takes conventional payment, or it can be a blockchain version. The blockchain casino is the most anonymous and secure way to use Bitcoin. Of course, by using Bitcoin, players are also bypassing the banks and financial institutions, which many people enjoy and offer a direct payment rather than using an intermediary. Bitcoin and other cryptocurrencies are also instant. With traditional currencies, there is often a processing period between withdrawal and the money being credited to your account, but this is not the case with Bitcoin.
Are There Any Downsides
Funding online gaming with Bitcoin has very few downsides. Indirectly it can be affected by the value of the cryptocurrency as this varies, and it can be a lot more volatile than standard currency. It is much less regulated because it is so new, and most governments haven’t established rules and protection yet, which makes some players skeptical, so they steer clear. That said – there is less chance, in fact virtually no chance, that your account can be hacked as the encryption on the transactions is the safest you can imagine. So far, there have been no cyber attacks or thefts at Bitcoin casinos. Overall it has to be considered the safest way to ply online.
