Do you know how to play mobile casino games with Bitcoin (BTC)? If yes, you already have what it takes to enjoy bitcoin gambling. Gambling with Bitcoin is practically the same as playing with fiat currencies. But in this case, players enjoy added perks like faster transactions, anonymity, and low transaction charges. This post takes a look at how it works!
Bitcoin has emerged as a payment method of choice at most mobile online casinos. It’s a decentralized digital currency that uses a peer-to-peer network to send transaction codes between users. Just say a single administrator like the central bank doesn’t regulate BTC transactions. Instead, payments are recorded and distributed in a public ledger called a blockchain.
That said, depositing and withdrawing this digital coin at a Bitcoin casino is a straightforward procedure. To deposit, players just need to create a casino account, go to the “cashier” section, and copy the Bitcoin address. Now go to the BTC wallet and paste the address to transfer any amount inside the wallet.
Withdrawing winnings in Bitcoin is also a self-explanatory process. For starters, open the BTC wallet and copy the address. Now go to the payment section on the casino, choose Bitcoin, and select the coins to withdraw. To complete the transaction, paste the BTC address and wait for your winnings in less than 24 hours.
There are several reasons to should favor Bitcoin over other gambling currencies. Here are some of them:
With Bitcoin gambling, players enjoy near-instant transactions. While most casinos process deposits instantly, withdrawals can take something between 2 to 7 business days. But Bitcoin does away with all the transaction limitations, making withdrawals amazingly fast. As said earlier, Bitcoin transactions don’t have to be verified by third parties. Intermediaries like banks can slow down transactions in addition to making them costlier.
Most mobile casinos don’t hesitate to offer players bonuses for making Bitcoin deposits. After creating a new casino account, these casinos offer exclusive bonuses after making a minimum deposit. The casinos also provide rebates and deposit bonuses to encourage BTC players to continue playing. So, use the Bitcoin bonuses to increase your winning odds at the casino.
Unlike other digital coins like Ethereum and Litecoin, Bitcoin is a mainstay at most mobile casinos. This is even though most governments are yet to recognize BTC as a legal form of payment. In addition, BTC has become a standard payment method these days. Therefore, use it to play at offshore casinos that don’t accept local currencies.
Lastly, Bitcoin casinos don’t ask players for vital information like ID, email, driver’s license, etc. Players just need to sign up and start playing straight away. This makes Bitcoin casinos accessible to players in jurisdictions where gambling is illegal. But don’t use Bitcoin payments for dubious means. Authorities can still track criminals, money launderers, and tax cheats.
Because Bitcoin doesn’t use a decentralized payment system, it is notorious for its volatility. For example, in 2021 alone, this digital currency has seen fluctuating prices, trading between $30k and $65k.
For a gambler, this can either be good or bad news. You can purchase BTC when trading at $50k, then request a withdrawal from the casino when the currency has a $60k value. This means a nice profit margin.
But that’s just theoretical thinking. To be safe, look at things like political turbulence, universal pandemics like Covid-19, and unemployment rates before purchasing BTC. This way, you can predict future price shocks.