Bitcoin has exploded in popularity over the last few years, with more and more people switching from traditional currency to crypto-currency. And with the value of bitcoin continuing to rise due to the increased demand, that trend should continue. Bitcoin has even made its way to the online betting industry, with casinos and sportsbooks adding it to their lists of accepted currencies. In order to get started betting with bitcoin, follow this guide and use a casino comparison site to fill in the blanks.
The first thing you have to do to start betting with bitcoin, is to acquire some bitcoin. This is getting easier and easier to accomplish as bitcoin becomes more common. Bitcoin exchanges such as Coinbase allow users to purchase bitcoin using whatever currency is prevalent in their country, but it is worth noting that these exchange sites forbid users from making gambling transactions on their networks, so you will have to use a second bitcoin wallet as a middle-man to mitigate this issue.
An alternative is to use a bitcoin ATM, which is similar to a regular banking machine, where a user can insert funds, which are exchanged for bitcoin. The positive to this approach is that it allows the person who bought the bitcoin to do whatever they please with it once it is purchased, as opposed to potential restrictions with bitcoin exchange sites.
Next, you have to select a bitcoin casino. To do this, you would be best served to make a list of all of the things you want in a casino and to run down that list one item at a time until you determine which site is able to check off most of the items on that list. A convenient way to go about accomplishing this task is to fire up a casino comparison site to see what each site is capable of in one convenient location.
Once you’ve determined which site is right for you, your final step is to create an account at the site of your choice and to deposit your bitcoin into it. This tends to be a simple process, but it cannot be stressed enough that you have to enter the correct bitcoin address when making your deposits and eventual withdrawals from online casinos. Bitcoin transactions cannot be reversed, and entering a wrong address isn’t something you can call customer service to reverse given bitcoin’s unregulated nature.
This is a lot like mailing a valuable gift to someone you know. You can have the best intentions in the world, but if you put the wrong mailing address on the package, and it goes to the wrong person, they aren’t likely to give it back if they find out it’s something valuable. Don’t let your bitcoin casino experience end before it has the chance to begin by falling into this trap.
These easy steps are all that separate you from casino betting with bitcoin. If you follow them, you are sure to have a fun and easy experience at your favorite casino sites.