Most Used Cryptocurrency By Online Casinos
Crypto is famous thanks to its promise of anonymity and security during transactions. One sector that significantly benefits from cryptos is the online casino industry. Gamers love playing their favorite casino games in peace, knowing their details and financial transactions are safe, regardless of their location.
In this article, we’ll bring you up to speed with the latest crypto stats and highlight the ins and outs of using the most popular currency, Bitcoin, in crypto USA casinos.
Cryptocurrency News & Prices
The beginning of the Covid-19 pandemic was disastrous for major global markets, and cryptos weren’t spared. Most investors had to convert their currencies to cash to safeguard their finances, making the Bitcoin price drop as low as $3,780. Fast forward to today, and this popular coin made a comeback reaching an all-time high of $59,183, only strengthening casinos’ interest in cryptocurrencies.
Bitcoin In Online Gaming
Created in 2008, Bitcoin was the first and by far the most prevalent digital currency accepted by online casinos. Not only are Bitcoins anonymous, but they also have a decentralized system that helps to increase transaction speed. The lack of intermediaries also allows lower transaction fees, ease of use, and global acceptance.
Get Started With Bitcoin
Before you can deposit Bitcoin into your casino account, you’ll need to acquire some currency. You can do that by either buying coins from traders or mining them directly. Then, if you intend to transfer the funds to your casino, you’ll need a Bitcoin wallet.
Wallets are how you store your Bitcoins—how you keep them safe. The good news is, there are many convenient, reliable, and secure wallets available, and here are some of the best;
1. Blockstream Green Wallet
Blockstream Green is a web-based wallet that’s user-friendly and allows fast Bitcoins transfer to online casinos. It’s free and has a ‘watch only’ security feature that enables players to log in to their account and check the balance while disabling other transactions.
2. Mycelium
Mycelium was one of the earliest mobile Bitcoin wallets for iOS and Android devices and continues to be a favorite among most users. Though it doesn’t boast the most intuitive interface, it makes up for this with extra security features, and you don’t need to purchase it.
3. Trezor.io
Trezor is a hardware Bitcoin wallet, meaning you can carry it with you or store it in a safe deposit box. Unlike previous options, you’ll have to buy this wallet. On the bright side, it offers seamless compatibility with all devices, including Windows and Linux, not just iOS and Android.
Ready to make your Bitcoin deposit? Just follow these simple steps;
- Log into your online gaming account or create one if you’re a new player. Ensure you choose a reputable and legit site to get the best gameplay experience.
- Go to the casino’s banking section, usually found on the homepage, and select Bitcoin as your deposit method. The casino will provide you a unique web address for their wallet.
- Open your Bitcoin wallet and input that address in the ‘Bitcoin Sending’ tab.
- Enter your desired deposit amount and click to confirm the payment.
- Watch as your funds reflect in your bankroll within a few minutes and start playing your favorite real money games.
Payouts At Bitcoin Casinos
All Bitcoin-friendly online casinos always accept withdrawals using the method. And though it’s not a fiat currency, every payout must go through a verification process like this;
- After you make your withdrawal request, a member of the casino payment team must process it.
- Next, the Bitcoin network has to confirm your transaction.
- You’ll then see the funds in your Bitcoin wallet within a period of 10 minutes to an hour.
Just as you bought Bitcoins earlier, you can now sell the coins at a currency exchange website to convert them into USD. The process can take up to two days to complete depending on the exchange and your banker. Note that the Bitcoin price fluctuates regularly, so make sure you know the current value before making the exchange.
Take Your Gaming Experience To The Next Level With Bitcoin!
In this digital age, Bitcoin is among the best ways you can move funds—it’s cheap, fast, and maintains your anonymity. The method also eliminates the need to trust a third-party intermediary, making it secure and effortless. Simply put, Bitcoin is the future of online casino payments.
