Bitcoin and Gambling: A Winning Combination

 
bitcoin

Bitcoin

In comparison to other forms of currency, Bitcoin is unique. Since it's a cryptocurrency, it's not related to a geographical or financial institution, so it's not subject to any of the rules or regulations of traditional banking. 

Bitcoin can be described as an online payment method. There is a Bitcoin wallet on your end and one on the account of the person or business you're paying. It's your wallet that pays for theirs. This is all there is to it. There are no names, addresses, usernames, or passwords that you are providing. In other words, it's a transaction between wallets.

 

How Can You Buy and Sell Bitcoins?

Bitcoin exchanges are now available around the world. There are differences in rates and methods of buying and selling Bitcoin, but most people will find something that works for them. Selling or buying Bitcoin is done by linking your credit or debit card to an app that allows cryptocurrency trading.

 After making a purchase, you will have a designated amount of Bitcoin in your wallet and can use it to purchase anything that accepts Bitcoin. As it is so convenient for players to deposit and withdraw money, it is becoming more popular with online casinos and sportsbooks. Bitcoin is making online casinos more convenient to play, with the option to entertain yourself from the comfort of your home there is now an even easier way to transfer funds. 

Bitcoin and Online Betting Accounts

With your wallet setup and some money available, the rest is easy.

When a site accepts Bitcoin, you will find a Bitcoin link. Your wallet account can be linked to the casino and you can perform a one-click transfer, but the first time you use the service, simply enter the casino's wallet address to your Bitcoin account. Some online casinos even offer better bonuses for using Bitcoin, IndiaCasinos.com has a list of the best online casino bonuses available.

Withdrawals are handled the same way in reverse. By providing the casino with your Bitcoin wallet address, they will transfer the funds to your account. Withdrawals can also be made to your bank account, credit card, or debit card through your wallet, but some Bitcoin ATMs are available now as well. 

Benefits to Bitcoin

As you become familiar with the process, it becomes a no-brainer to use with Online casinos. Neither bank restrictions nor geography limits you.

 

Top Five Reasons to use Bitcoin for Online Betting :

  • Banking and personal information are not shared

  • High transfer limits with minimum requirements

  • The bonuses offered by some casinos and sportsbooks are better if you use Bitcoins

  • Transacting without an intermediary means no approval process

  • In just a few minutes, you will be able to complete a transfer

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