The digital coin was the first form of digital cash to enter the market when the era of cryptocurrency came along. Launched in 2008, BTC was not very popular, and only a few people associated with its development saw its value. Things changed when the cryptocurrency sphere began making waves as the demand for electronic cash grew. It is the digital coin that set the stage for others such as Litecoin, Ripple and Ethereum.
A few years after its entry into the market, people were using BTC to shop and pay for various services online. BTC is a decentralised currency, meaning that there is no involvement of an intermediary such as a central bank. This trait made the virtual currency a preferred mode of transaction for people who want to maintain anonymity. It’s why casinos are slowly but steadily adopting it as a payment method. As you play online roulette, you can capitalise on the benefits of cryptocurrencies by paying with BTC. This guide has bit more information about the digital coin and how you can use it when transacting at internet casinos.
How Do Bitcoin Roulette Casinos Work?
A BTC casino works the same way as a traditional fiat platform except that when it comes to banking, it gives you the option of paying with the digital coin. We hopped across different casinos that accept BTC to bring you this comprehensive review. Bitcoin roulette casinos are in two categories. One is the conventional roulette site that offers BTC as an alternative to the standard payment methods like credit cards. The other is a roulette casino that transacts exclusively in cryptocurrency, including BTC. What you choose is a matter of preference. We found the fiat and digital currency casinos more practical because you have an option if for some reason you can’t transact with BTC.
Netbet accepts Bitcoin payments
Bitcoin roulette casinos are just as reliable and diverse as their fiat counterparts. They provide secure platforms where customers can deposit and withdraw funds without trouble. You need a wallet to store your digital coin before using it online. Once you have the wallet and the funds you need in BTC, you can pay at your favourite casino. Go to the payments page of the gambling site, pick the Bitcoin option, and you will receive a prompt to transfer money to the casino’s wallet. Follow the instructions and deposit the funds. Cryptocurrency transactions are instant. Withdrawals are just as simple. The game variety doesn’t change just because you pay with bitcoins. You can play European, American or your choice of live roulette games.
Recommended Roulette casinos with Bitcoin
In our search for Bitcoin casinos, we found ourselves on several popular and not-so-popular platforms. Some roulette sites allow direct Bitcoin transactions. However, with others, customers have to deposit their electronic cash in a virtual wallet such as Neteller then send funds to the casino. Here are three of our top casino picks:
Netbet – In 2016, this casino became the first UK-licenced operator to accept BTC. Netbet partnered with Bitpay to provide players with the option of cryptocurrency deposits and withdrawals. BTC transactions are permitted for the Netbet casino and sports betting. The roulette casino has an extensive gaming selection as well, which is why we loved spending time on it.
Eurogrand – Although it is among the smallest platforms that we played on, Eurogrand is impressive when it comes to payment methods. Currently, the casino doesn’t accept BTC payments directly, but it has a long list of virtual wallets and prepaid cards. You can deposit your BTC in one of these banking methods then use it to fund your player account at Eurogrand.
888 – At the moment, 888 does not let players pay with bitcoins directly. However, you can opt for the other available banking methods to deposit or withdraw from your account. You can load your digital coin on a prepaid card or virtual wallet and pay the casino. As one of the biggest roulette sites in the sector, 888 might not be far from allowing BTC transactions.
Where can I get Bitcoins?
You can purchase the cryptocurrency from a BTC exchange where you can switch out regular currency for BTC. Ensure that you use a reputable cryptocurrency exchange to avoid scams. BTC ATMs are other resources that you can use to change traditional coins to the digital currency. Besides exchange, you can accept payment in terms of BTC online for goods or services.
About Bitcoin
The digital coin sprung up in 2008, just after the banking crisis. It was the creation of an anonymous figure called Satoshi Nakamoto. The idea behind BTC was to give people more autonomy with their currency without the interference of the government. The coin operates on a blockchain technology where every transaction is recorded into a ledger. Once a transaction occurs, it is irreversible. This ledger is public, meaning that anyone can make changes to it. Because the technology runs on a peer-to-peer system, it offers a unique level of security.
Advantages of Bitcoin
- Maintain anonymity of your online transactions
- Instant deposits and withdrawals
- Secure
Disadvantages of Bitcoin
- Highly volatile currency
- Hacking risks
- Restricted transactions in some regions
FAQ to Bitcoin
a. Do I have to open a BTC account?
Yes, an account or online wallet is necessary to transact with the cryptocurrency. This account is where you will send payments from and receive funds. You can have a BTC wallet on your mobile device for easy transactions.
b. Where can I find the value of a Bitcoin?
The value of BTC fluctuates according to market performance and other factors. Casino customers must keep up with BTC value, so they know how many coins to deposit or withdraw. You can check the current price of the digital coin online. BTC news sites usually have updated information about the worth of the currency.
c. How can I deposit at Bitcoin roulette casinos?
Go to the casino’s cashier page and select BTC as the payment option. Get the address of the casino BTC wallet and transfer money from your BTC account.
d. Do roulette casinos pay out with Bitcoins?
Yes. Roulette casinos that let you pay with bitcoins will allow withdrawal through the same means. Check with a specific roulette site regarding any regulations on cashing out using BTC.
e. Is Bitcoin safe?
Bitcoin is one of the safest payment methods you can use at roulette casinos. The lack of a bank or third-party service reduces the amount of risk you are exposed to, such as fraud. You also don’t have to fret about providing your financial information at casinos.
About the author
Dieter Maroshi is considered the ideal contact person for questions about roulette. He has already made his passion into his profession at the beginning of the 2000s. The experienced author also has a good overview of topics such as legislation and the economic situation of gambling. Where the average player does not see the wood for the trees, Dieter provides the necessary clarity - and, last but not least, transparency. Dieter is an author who does not mince one's words, but freely says what he thinks.
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