As Bitcoin gambling becomes ever more popular, you may have many questions. Rest assured, as we’re here to make things simpler.
When putting your Bitcoin into an online casino, you may understandably be worried. Will you be able to retrieve your Bitcoin after winning or deciding to cash out? This article will explain how to make a withdrawal from a Bitcoin casino. If you are not sure how Bitcoin works yet, you will be able to learn more here. We’ll also be mentioning a few secure Bitcoin casinos if you’re not sure which ones are legit.
Bitcoin Refresher
Bitcoin is a cryptocurrency that exists solely as files on your computer or smartphone. These files are kept in a virtual wallet and traced using a list called the blockchain.
Bitcoin is ideal if you wish to gamble anonymously. The risk of giving your card or bank details is eliminated completely when using this method. Even though blockchain is public, no one will know which specific key is yours if you don’t tell them yourself. The fact that Bitcoin is not governed by any country or bank adds to its anonymity.
To acquire Bitcoin, you can sell goods or services in exchange for Bitcoin, or buy them using your currency. Bitcoin can be obtained and exchanged in part. Online Bitcoin casinos also allow you to deposit and withdraw Bitcoin in part. One Bitcoin is estimated to approximately $7100 as of April 2020. Next, you’ll need a wallet to keep and manage your bitcoin through. Below are examples of the most commonly used variants.
Web-based Bitcoin wallets
Your currency information is stored online; these are the easiest and most convenient. Your Web-based Bitcoin wallet can be accessed from any device that has an Internet connection. Web-based wallets refer to desktop and mobile wallets, as both instances require an Internet connection.
Desktop Bitcoin wallets
Your Bitcoin is stored in an online wallet which may have an app that can be downloaded to your desktop. You may also simply access your wallet on the internet without downloading an app. Both options require an Internet connection.
Hardware Bitcoin wallets
Your Bitcoin files are stored externally, for example, on a USB flash drive. In this instance you will save your Bitcoin files externally, and will be able to access them using a computer without the need for an Internet connection.
Mobile Bitcoin wallets
Your Bitcoin is stored in an app that’s downloaded to your mobile phone. Mobile Bitcoin wallets are compatible with most smartphones. These apps are convenient as your smartphone is always within your reach. These apps require an Internet connection to function.
Despite the fact that Bitcoin is banned in some countries, Bitcoin is the most popular global currency. Using Bitcoin means you have the ability to trade quickly, discreetly, and to and from most countries in the world.
Because the currency isn’t governed by any bank or country, little to no fees are added on transactions. When using Bitcoin at an online casino, you remove the middleman. Bitcoin goes straight from you to the casino, and straight from the casino to you. This makes for faster, cheaper, and more secure transactions when gambling online.
How to Deposit Bitcoin Into an Online Casino
Before you can withdraw Bitcoin from an online casino, you’ll have to deposit the currency into your online casino of choice. If you do not have Bitcoin of your own yet, we will discuss how to get Bitcoin as well.
Register at your online casino if required. Your chosen online casino should guide you through the process. Go to the deposit options and choose Bitcoin as your preferred currency. Your casino will generate a unique depositing address for you. Copy your deposit address from the casino and navigate to your Bitcoin wallet. Choose an amount to transfer and paste the unique deposit address into the required field within your Bitcoin wallet. The funds will instantly show in your online casino account.
How to Withdraw Bitcoin from an Online Casino
First and foremost, you need to make sure that the casino allows you to withdraw Bitcoin. Some online casinos only accept it as a deposit option.
Once you’re ready to cash out, simply click on the “cashier” section. Here you’ll be given options of the currency in which you wish to cash out, choose Bitcoin. Select the amount you want to withdraw and insert your virtual wallet number. Your Bitcoin should be deposited to your public wallet within a maximum of 24 hours.
Keep in mind that most online casinos do set a minimum cash out limit, even for Bitcoin. This amount, however, is rarely more than 0.01 Bitcoin. Online Bitcoin casinos may have a maximum withdrawal limit.
Bitcoin Online Casinos
As Bitcoin has become a more widely accepted currency, many online casinos are now accepting Bitcoin. A number of these casinos offer casino bonuses or several free spins upon signing up. This means you won’t have to deposit anything to stand a chance to win more of the cryptocurrency.
Bitcoin can be broken up into several parts, namely BTC, dBTC (10th of a BTC, or 0.1), cBTC (100th of a BTC, or 0.01), mBTC (1000th of a BTC or 0.001), μBTC (1 000000th of a BTC, or 0.000001) and the Satoshi (100000000th of a BTC, or 0.00000001). You won’t need to buy or deposit an entire Bitcoin.
Bitcoin casinos offer a variety of games including iconic casino games such as slots, blackjack, roulette, poker, baccarat, etc. You can also use your currency to bet on traditional sports, as well as eSports.
Suggested Online Bitcoin Casinos
1xBit
This is an online casino that allows you to use Bitcoin. By joining 1xBit, you’ll receive a bonus of BTC1. No fees are added to any transactions when using this casino. This is the most popular online crypto casino, dealing only with crypto deposits.
Withdrawals are quick and easy. You have the ability to join 1xBit online casino without giving out any personal information. The minimum deposit for Bitcoin is 1mBTC, and there’s no set minimum withdrawal. 1xBit offers 24/7 live chat and email assistance.
OneHash
This online sportsbook doesn’t require users to sign up. It adds a twist to online sportsbook betting by having players bet against each other instead of against the platform itself. With every bet, the multiplier changes, depending on how many bets are placed on the specific event. OneHash does not set a limit on bet amounts or restrict winners in any way.
Additional Bitcoin Casinos to Consider
You should consider Sportsbet.io, EGB.com, and Cloudbet when choosing your online Bitcoin casino.
The casinos listed in this article are not the only Bitcoin casinos on the market, but they’re some of the best.