Bitcoin is one of the most anonymous currencies on the entire planet. Unlike other currencies that are printed and distributed by governments, Bitcoin is exclusively created online. Based on a rainbow encryption that makes each progressive coin harder to make, this is a limited currency that can be made at home if you have a strong enough system. While not nearly as popular as other currencies, there are still many websites that accept it as viable payment. Some online casinos directly take Bitcoin, but many do not. This bitcoin casino website show you off almost all available bitcoin casinos that are in the market as of now. Regardless of this, there are ways around restrictions to ensure that you can use them while gambling online.
Method One: Direct Payment
The easiest way to use Bitcoins for online wagering is by finding a website that accepts them directly. As stated above, many of these websites do not, but there are a handful that do. Some of the biggest online casinos that accept Bitcoin are BetChain and Betcoin. In this case, you can just use the coins directly for online wagering.
This is ideal because it requires the least amount of work. You also don’t have to transfer your Bitcoins into other currencies or accounts before using them. At the same time, the biggest weakness is that you’re unable to use all of the online casinos, and you are limiting yourself to a small number of websites and games. There’s nothing wrong with this if you find a website that you like, but it can be a problem if you want to play new games or take advantage of promotions on other websites.
Method Two: Indirect Payment
This method requires a few more steps than the direct approach, but it’s not that difficult or time consuming. E-wallets are incredibly popular with online casinos because they allow you to wager money with a relatively anonymous account. It’s not quite as anonymous as Bitcoin, but it’s better than paying directly with a bank account or credit card. Not only that, but most online casinos expect their patrons to pay with e-wallets, and are thus very accepting of them.
To take advantage of this, you first need to find an e-wallet that is popular with online casinos that also accepts Bitcoins as a deposit. For example, NETeller allows you to deposit Bitcoins into your account. They will be converted into your currency of choice. This means you might lose out of gaining money from exchange rates, but you now have money for online casinos.
Now all you have to do is use the e-wallet to deposit money into the online casinos. This method just introduces another party into the mix so that you increase the number of online casinos that you can use. The problem, aside from taking longer than the direct approach, is that you’ll be paying more because most e-wallets charge either a percentage or flat fee for Bitcoin deposits.
Method Three: Selling Bitcoins
This method is the most inconvenient and isn’t recommended for most people, but it’s still worth mentioning because it’s a viable option. You can sell your Bitcoins for real money, deposit them into your bank account and then use the account to fund your preferred online casino. While this opens you up to every online casino because they all accept bank payments, the problem is that selling Bitcoins can be a hassle.
Selling them in person is both impractical and difficult, which means that the only reliable way to do this is to visit a Bitcoin exchange website. These are websites that will make a cash payment into your account based on how many Bitcoins you sell and the current exchange rate. All of these websites have a conversion fee, and this method introduces several new parties into the mix.
At the same time, this does allow you to convert your Bitcoins into real, usable money. Most people keep Bitcoins in virtual accounts and seem to forget that they have real value outside of the Internet, which can make this an attractive option for some.
Conclusion
Using Bitcoins at online casinos isn’t difficult, but it can be a little tedious at times. You either have to find a casino that directly accepts Bitcoins, or you need to convert the Bitcoins into a usable currency so that you can fund your account. In either case, this is a viable currency for betting on your favorite virtual games.
