Are you thinking of starting your Bitcoin casino journey, but you're not sure of some of the things that you need to do? Do you want to have a complete grasp of what Bitcoin casinos are? Well then, sit back, relax, and read through this article.
One of the safest ways to carry on a successful gambling experience is using bitcoins. You are guaranteed safety, but you are also sure that your privacy is secure and intact.
In this article, we're going to be looking at 10 must-do in Bitcoin casinos to help you have a safe and smooth ride through your journey. First, let's discuss what Bitcoin casinos are.
What is a Bitcoin Casino?
In a world where everything has gone digital, bitcoins have made it a lot smoother and more comfortable to trade. Sending and receiving currency has not been more private and more secure than how Bitcoin has made it.
This is what I mean by that. Unlike standard trades where you have to show your face, name, identification number, and those other means of identification before you can buy or sell online, bitcoins let you only have a secret code through which you can send and receive currency.
Bitcoin casinos are casinos that receive and pay bitcoins for gambling. This means that you will need to have some money in bitcoins for you to begin your gambling experience with a Bitcoin casino. You'll also need the most basic information and knowledge about bitcoins, which will be included in the 10 must-do things in Bitcoin casinos.
What you must do in Bitcoin casinos
Whether you are gambling with the real Bitcoin casino or you are using a Bitcoin online casino, these things which will be listed below must be done in order for you to carry out your gambling experience successfully. And they are:
Get acquainted with one Bitcoin casino
It's advisable that before you begin your journey to gambling in Bitcoin casinos, you should weigh your options by looking through some of the best Bitcoin casinos out there.
You want to be sure that they are safe, secure, and offer the best casino benefits, not mind whether they use bitcoins. One such reputable Bitcoin casino you will find out there is Bspin Bitcoin casino.
Get a Bitcoin wallet
Before you carry out any transaction with a cryptocurrency like Bitcoin, you must first have your unique wallet. This serves as your account.
This wallet is going to contain the equivalent of the money that you transferred into it, but later this currency could rise or even fall. You will get a little bit more detailed explanation about that in conclusion.
Fund your Bitcoin wallet
To be able to place a bet on a game, you will need to fund your Bitcoin wallet. How do you do this? It's simple. You can transfer money using your credit or debit card into the Bitcoin wallet platform that you choose.
If you're not sure which cryptocurrency platform to use, some like Binance, Coinbase, and Luno help you trade bitcoins or any other cryptocurrency quickly. You can also do a direct transfer from your bank account to the Bitcoin wallet.
Request for the casino's address
Before you can transfer money to anybody using cryptocurrency, you must first have their wallet address. To send money to the casino, you need to request for the casino's address.
Usually, some casinos have it on their website, or you could just go to the casino if it's a real-life casino and ask for it.
Select a game you want to play
Now that you have the casino's Bitcoin address, you can select the game that you want to stake your wager. Although, you can do this before you even request for the casino's address, for a smoother process it is safer using the former.
Select the amount you wish to stake
Before you can send bitcoins to the casino's Bitcoin address, you must first choose the amount that you wish to stake on your preferred game.
Send the Bitcoin
After you have successfully transferred funds into your Bitcoin wallet, to begin gambling, you will have to send a certain amount required to play a game to the wallet of the casino you've chosen.
The casino would usually have a link where you can send the currency. This link is usually referred to as the Bitcoin address. So you'll have to copy the address and paste it in the field where it is required.
You may be wondering what to do when you win a game. It takes almost the same process as sending. You simply have to click on receive in any of the platforms that you have chosen. They will ask you for your wallet address and the wallet address of the casino from whom you're expecting payment.
Fill in the fields correctly, and you will get your money as soon as possible.
Secure your Bitcoin wallet
A lot of beginners usually take this step for granted. Meanwhile, this is the most critical step to take in trying to keep your security and privacy more intact.
While your transactions may be safe, your cryptocurrency wallet, if placed in the wrong person's hands, may not be. Your wallet address is all you need to transact with any cryptocurrency; therefore, it must be kept safe.
For added security, it is advised that you use two-factor authentication while setting up your security.
Withdraw funds back to your account
If your only intention for opening a Bitcoin wallet is to gamble with the currency, you will need to withdraw the funds back to your account when you win. You can also leave it if you do, please.
To do this, you just have to click on withdraw in the platform that you're using and fill in your bank details. The money should arrive in a matter of seconds, or sometimes it could take minutes.
Don't forget that when you have your money in bitcoins, there is a chance that it could fall and a higher chance that it will rise. This is due to the supply and demand rate of the cryptocurrency. Bearing this in mind, you will realize that using Bitcoin casinos also help you invest your money in cryptocurrencies.
Remember to bet responsibly.