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Bitcoins: All You Need To Know On How to Use Them in Online Casinos
Bitcoin or cryptocurrency is a virtual form of money that can be distributed and used in digital form. The most significant part of bitcoin – it can be transferred without revealing one’s identity. As of today, even the creator behind bitcoin remains anonymous.
A bitcoin is a digital file stored within a digital wallet app. Moreover, all such transactions remain transparent and will be recorded in a huge public ledger known as the blockchain.
Bitcoins have revolutionized the world of currency like never before. Since its debut in 2009, Bitcoin has been growing steadily in the global market over the past years. Recently, physical bitcoins have also been introduced.
The Use of Bitcoins at Online Casinos
Cryptocurrency is one of the most popular payment modes among online gamblers around the world. This is because using bitcoins for deposits and withdrawals is easier and much more convenient than the other payment options available in online casinos. Moreover, withdrawal through bitcoins can be done lightning fast.
From 2001 onwards, several online casinos have started to accept bitcoins. Bitcoin online casinos offer a large variety of casino games such as Roulette, Blackjack, Baccarat, and Slots.
Safety of Using Bitcoins
Bitcoin is considered a secure form of currency. Moreover, there is no involvement of a third party since bitcoin transactions are conducted directly.
Furthermore, there is no need for you to provide your personal information while using bitcoins. Bitcoins ensure that your personal information is secure and gives you complete anonymity. This makes it safer than most other transaction methods. Besides, every bitcoin wallet comes with data encryption.
However, there are certain precautions you have to take while using cryptocurrency. The most important one is to never share your bitcoin address. Your address is the most crucial part of your bitcoins.
Additionally, it is best to avoid doing transactions with bitcoins while you are using public WiFi networks. Therefore, be extremely careful while using and storing them.
Who Can Use Bitcoins?
Anyone can buy and start using bitcoins through a number of methods. Even if you are a regular user of conventional payment methods like debit/credit card and bank transfer, you can buy bitcoins. You can get bitcoins from a bitcoin exchange by using the above mentioned methods.
Norwegian Casinos with Bitcoins
Several Norwegian casinos offer the option to play or gamble using bitcoins. These include Bitstarz, Playamo and Bob Casino. In addition, the PlayOJO casino accepts Bitcoin from both the UK and EU. Moreover, users of Bitcoin in such casinos are offered many attractive Welcome Bonuses. Some of these bonuses can be availed even without making a single deposit.
What are the advantages of using bitcoins in online casinos?
Using bitcoins ensure extremely fast transactions including deposits and withdrawals. Unlike other payment methods, you won’t have to wait for long hours to access your funds with bitcoins. Moreover, by using bitcoin, you will be in complete control of your money without the involvement of third parties. This means that you don’t have to pay any extra charges for transactions.
Create a bitcoin wallet
A wallet is necessary for transactions of funds including deposit and withdrawal. You can get this through the Bitcoin website. After signing up, you can create a Bitcoin address, which is a long series of letters and numbers. This address will be used for all the transactions in your wallet.
Add bitcoins to your wallet.
Deposit your bitcoins to the casino.
Open your wallet and select the ‘send money’ option. For this, you need to provide both your address as well as the casino’s address, along with the amount you want to deposit.
What are the different types of bitcoin wallets?
Two types of bitcoin wallets are available – web-based and desktop wallets. To use a desktop wallet, you need to install specific software. Therefore, web wallets are considered more convenient than desktop wallets. However, if you are looking for security, a desktop wallet is your best option as it doesn’t use third-party software.
How can I get bitcoins?
You can purchase Bitcoins with your wallet. You can also get them with real money or you can get paid for business through bitcoins. Furthermore, you can collect bitcoins by a process called mining.
Even though bitcoin transactions can be accessed publicly, the user of bitcoin always remains anonymous.
What is the difference between using a bitcoin wallet and other e-wallets?
A bitcoin wallet is quite similar to other digital wallets like Paypal, Neteller and Skrill in terms of their function. However, a significant difference is that you don’t have to provide any personal details while using a bitcoin wallet.