Why Should I Use Bitcoin Casinos for Online Gambling?
Just think of Bitcoins as chips. You buy in (purchase Bitcoins), play at various Bitcoin casinos, and cash out (sell your Bitcoins). Technically, Bitcoin is a form of digital currency created and controlled through digital encryption techniques. It is a peer to peer monetary transaction system, which is free from any central banks or government regulation. The generation, transfer, and verification of digital currency between two peers
occurs through open-source software without the involvement of any middleman or centralized banking body.
How Can I Buy Bitcoins?
You can buy Bitcoins from exchange companies such as Kraken.com, BTC-E.com, or Localbitcoins.com. However we highly recommend Coinbase.com, because it's easy to use, and you can use your credit card to make the purchase. When you want to sell your Bitcoins, you can do it on Coinbase.com just as easily.
A Bitcoin wallet is an online account used to receive, hold, and send Bitcoin currency. You can create your Bitcoin wallet for free on Coinbase.com. It's like an online bank account that you link with your regular bank account, similar to PayPal. In the blink of an eye, you can transfer money between your Bitcoin wallet, your regular bank account, and your online Bitcoin casino accounts. You will have a Bitcoin wallet ADDRESS, like an account number, which is just a long string of letters and numbers, for your online Bitcoin casinos to transfer your money back and forth. When you want your money in dollars, you'll just transfer funds from your Bitcoin wallet to your regular bank account with a few clicks of your mouse. It's that simple!
The deposit and cash out of Bitcoins does not take much time. For normal amounts, it is almost instant, if your Bitcoin wallet is ready to use. (Non-Bitcoin online casinos usually take days, require paperwork such as a copy of your electric bill, and charge a fee.) For large amounts like thousands of dollars, Bitcoin online casinos might take up to ten hours, and in the meantime, the transaction will appear as pending, so you'll know what's happening. Any delay is only because of the extraordinary security measures taken by Bitcoin processors to ensure that your money is transferred properly.
Yes, many Bitcoin online casinos offer free Bitcoins to their prospective players for various activities such as registering with the casino, referring a new player, or playing a new game.
No. As long as you have Bitcoins and a means to transfer them, like a Bitcoin wallet, you can play in Bitcoin online casinos. In fact, even if you don't have any Bitcoins or a Bitcoin wallet, most Bitcoin online casinos allow you to play for free with play money before you decide to gamble with real Bitcoins.
Some are and some aren't, depending on the country in which they operate. Of course, all internet businesses are naturally regulated by their reputation, because if they operate dishonestly, they will lose their customers. The six casinos listed above all have an excellent reputation for fairness, honesty, and customer satisfaction.
No. There is no minimum deposit amount required for Bitcoin online casinos. Nor is there a minimum (or maximum) cash out limit. This is another great advantage over non-Bitcoin online casinos, which generally have deposit and cash out limits, charge fees for cashing out, require identification, and make you wait days or weeks for your money.
There are many reasons Bitcoin gaming sites are preferable to traditional currency online casinos. Some of the major reasons are:
Bitcoin online casinos allow and welcome Americans to play on their sites from anywhere in the world.
Bitcoin gaming websites are very fast in terms of their withdrawals and deposits.
You can play anonymously with just an email address and a Bitcoin wallet address.
There is no risk of fraudulent use of your credit cards or your bank account.
There are no processing fees for transferring funds.
Is Bitcoin gambling legal in the United States?
Yes. At this time, because of jurisdictional issues about whether Bitcoin is actual money, and because no credit card or payment processing companies are involved, there is no law prohibiting you from gambling on a Bitcoin online casino website. Remember, Bitcoins are just numbers stored on a computer. There is no such thing as a bill, note, or coin that is printed or minted by any bank or government declaring its legal value in denominations of Bitcoin, so legally it's just imaginary play money. Laws change, but for now, there's no problem.