If you decided to step into the new era of gambling and want to start betting using Bitcoin as your payment platform, there are certain factors you must take into account beforehand. Here are some of the most important aspects you must know about prior to using Bitcoin or any other cryptocurrency on your preferred betting site:
Creating a cryptocurrency wallet
Since there are plenty of cryptocurrencies available nowadays, you must choose the cryptocurrency of your preference. It is recommended that you search for the features that every cryptocurrency offer their users to realize which one suits you the best. Once you have chosen the cryptocurrency you desire to use, it is time to create a wallet. There are different types of wallets, the most common ones are: a mobile wallet, a software wallet and a hardware wallet. The first two types of wallets that were mentioned are often offered for free, but they do not provide the same security that a hardware wallet can give you.
The mobile wallet is the easiest type of wallet you can get. You are able to download it on your phone or tablet and use it anywhere you go as long as you have an active internet connection. This type of wallet is perfect for all of those players that are looking for an option that is always easy to access and available. When it comes to the software wallet, it offers you practically the same as the mobile wallet, but with the difference that it is downloaded on your PC or laptop.
- Read about the risks involved in Crypto Gambling
You download this type of wallet as if you were downloading any other kind of software such as an internet browser. The hardware wallet is the safest and strongest type of wallet you can find nowadays. It is ideal for all of those players that want the highest security at all times.
This type of wallet is not free though, they are separate devices that have the specific task of managing your cryptocurrency. They cannot be used for anything else. All of the wallets can be used to make transfers and receive payments from third party sites or people at any given moment. It is just a matter of deciding which one you like the most to start entering the lucrative world of Bitcoin gambling.
Read the terms and conditions
Reading the terms and conditions of the online casino or sportsbook you want to join is always important, no matter which banking platform you want to use on it. The terms and conditions allow you to check all of the policies that the site follows so that you know what your rights are when taking part in the gambling options they offer. You are able to check how the betting sites manage the cryptocurrency transfers. Usually, the betting sites state the additional fees they charge when depositing or withdrawing and any other relevant information that may alter the amount of money you end up receiving at the end. That is why it is important to check the terms and conditions. Make sure to read every line on them that describes the way the betting site processes cryptocurrency transfers. This little effort may save you a lot of surprises and stressful moments in the future.
- Check out our list of Best Casinos that offer Bitcoin as payment
Special offers/casinos/payment/bitcoin/ for cryptocurrency users
You may have already settled for a betting site that offers you the opportunity to bet while using Bitcoin or any other cryptocurrency so go ahead and talk to a customer service agent of that site to see if you can receive a special bonus for using a cryptocurrency as your banking platform. Since cryptocurrencies have turned into the hot new trend in terms of making transfers online, most gambling sites are starting to offer bonuses and promotions to players that use them for depositing and withdrawing, so that the whole community of players start feeling encouraged to create a cryptocurrency wallet and bet using any of these innovative digital currencies on their sites.
- For the best Bonuses that we offer visit our Bitcoin Bonuses Section
In case the betting site of your preference does not offer bonuses for cryptocurrency users, here are some of the most reliable betting sites where you get rewarded for using them as your method for depositing and withdrawing:
This online casino in particular focuses on the use of cryptocurrencies. You have several bonuses and promotions available that may help you increase the number of Bitcoins you have quickly. It all starts with a no deposit bonus of 20 free spins. You receive this bonus automatically after finishing the registration procedure. After seizing this bonus, you have an amazing 152% first deposit bonus available that goes up to 2 BTC plus 180 free spins to use on your favorite slot games. You may visit the Bitstarz Casino site to check all of the interesting offers you can claim.
7Bit Casino is another site made for cryptocurrency players. There are attractive bonuses available to all the users, including a generous 157% first deposit bonus that goes up to 1.5 BTC plus 100 free spins. This site does not offer a no deposit bonus, but there is a welcome package that goes up to 5 BTC in total, allowing you to increase your earnings easily as a new member.
mBit Casino is one of the most popular online casinos that have Bitcoin as the main banking platform it works with. This site offers you a 50 free spins’ bonus after finishing the registration procedure and a 150% first deposit bonus that goes up to 2 BTC. Apart from the compelling bonuses, mBit Casino has over 2,500 games available, meaning that you can have lots of fun playing a wide variety of games while you stack up your earnings and store them all on your cryptocurrency wallet.
The cryptocurrencies are the present and future of gambling, the payments are processed within seconds and managing your wallet could not be easier, transfers are usually instant or less than 30 minutes depending on the blockchain and fees should be non-existent to very low and the best thing of course is the anonymity. Create your wallet as soon as you can and catch up with the new world of online transfers.