Using Bitcoin at the online Casinos
Many of my recommended sites that offer services for USA players such as Slots.lv, Bodog, Bovada and Ignition use Bitcoin. I wanted to write this article to clarify what that means for the players.
Bitcoin has been in the news lately of crossing record barriers. At the time of writing, a single Bitcoin is worth £2944 or $3832. Up 20% and triple value for the year. Quite an astonishing level for a single unit, surpassing even Gold.
So do I have to deposit almost $4000 to get started?
No. You can buy $30 of Bitcoin or whatever. Some exchanges will not even charge any fee for Bitcoin transactions under $50.
How much does it cost to trade Bitcoins?
A typical BTC fee will cost you a transfer fee of 0.0005BTC for every transaction you make. Running that at the current value of Bitcoin at $3832, that’s $1.196, call it $1.20 for simplicity.
In comparison to a credit card typically at 3-5% it’s much much cheaper.
How long does it take to make a withdrawal from a Bitcoin exchange back into my bank?
Under 20 minutes.
Heres how you go about getting started with Bitcoin
The following information is taken from the bodog bitcoin information page, view it directly on their site from the link in the sidebar.
- Get a Wallet. – You need to get a wallet that stores your Bitcoins.
Most recommended: for Andriod
Most recommended for IOS:
- Purchase Bitcoin through a regulated exchange. You will need to verify your Id to do this which can take a few days and also verify the micro deposit sent to your bank account.https://www.kraken.com/
are recommend exchanges.
view more here
So that’s it, you just need to register up a Wallet and an exchange, get verified and you are ready to start playing. Once this hurdle is crossed you can easiliy deposit, play and withdraw at all Bitcoin accepting Casinos
Why do Casinos Use Bitcoin?
By using Bitcoin, the casinos are offloading all the hassle of verification of players. Players depositing and withdrawing are anonymous to the casino. Now perhaps it’s making sense. They are cutting their workload, they no longer have to worry about player verification, withdrawal methods and fees, it’s all handled by the exchanges. Not only is this easier for the Casinos but it’s cheaper and faster for the customers so everyone wins.
The age of the Bitcoin is here in force and it’s time to get on board.
My recommended sites for Bitcoin
View the sidebar for my USA/Canada accepting casinos such as Slots.lv, Bodog, Bovada and Ignition, these are offering all the online gambling experiences such as Slots, Live Casino, Sportsbetting and Poker with Bitcoin from reputable and trustworthy brand names.
If you are not ready for Bitcoin
I have also recently added CasinoMax, Grande Vegas and Slotjoint (Canada but not USA) with whom accept the regular payment methods.
Mining your own Bitcoin
You can invest in mining your own Bitcoin. Many companies have set up high powered mining centers where you can purchase mining power on contract, far easier than buying expensive equiptment, using lots of power to do it yourself. Many people are making big money doing this and after a certain number of months your investment will turn to be pure profit paid into your bank every month. A highly recommended and reputable site to do this is https://www.genesis-mining.com
Use this code KmDEQ0 to gain 3% discount from any mining contract.