With Bitcoin and other crypto currencies, the new era of the online gambling has begun. Now there are very limited UK Online Casino sites that allow you to pay, deposit and withdrawal you winnings in Bitcoins. This is one of the most important recent additions in Online Casino Gambling Industry, as they are integrating Bitcoin Currency as one of the accepted currencies, and that gives the players instant payments and easier cash out process.Read More
What is Bitcoin ? How to Obtain Bitcoin ?
Bitcoin is new currency (still experimental) and it is in active development. One thing is sure, nobody can predict Bitcoin future and it can easily become the new big thing. Bitcoin isn’t official currency so most jurisdictions still require you to pay taxes on bitcoins.
There are several ways how you can obtain Bitcoin currency. You can buy it an online Bitcoin Exchanges, as there are several online services that allow you to buy Bitcoin using your bank account. Also, you can buy Bitcoin through a local seller that live in your area, or you can use Bitcoin ATM’s, but they are not so common thing nowadays there are not many of them yet.
As you buy Bitcoin you can use it in a common way to make purchases online as there are hundreds of online shops and retailers that accept Bitcoin.
How Does Bitcoin Deposit and Withdrawal Work?
The first thing you need to do is to set up an account with Bitcoin currency. You will need to go to one of the websites that are specialized e-wallets for your bitcoins. There are several types of wallets for bitcoin and when you chose the one that suits you well, you then go and buy bitcoin from reliable sources. Those sources we explained already in this article. With bitcoin in your wallet, it is time for you to find reliable Online Casino that accepts bitcoin currency and create an account like you would do in any other Online Casino. When you go to deposit, chose BITCOIN, the amount you want to play with and start playing immediately.
Unlike some more traditional banking methods you may have used at top online casinos (like Credit/Debit cards or E-wallets), both withdrawals and payments at Online Casinos accepting Bitcoin are instantaneous and that is a great thing.
Advantages and Disadvantages of Bitcoin Payment Option
Like any other payment method, players that use Bitcoin (BTS) will get significant sign-up bonuses, secure software and a wide variety of games to enjoy in.
Security of using BTC is on a high level it is really hard for hackers to get into your Bitcoin wallet and to make damage and that is also a big plus for users of Bitcoin currency.
Deposit and withdrawal times are super fast almost in seconds.
But there is one big disadvantage of using this crypto currency. So with Bitcoin one of his greatest features is also one of its greatest flaws. Bitcoin is unregulated and its value fluctuates wildly every day. That can lead to sometimes confusing transactions as you may think you have more than Bitcoin is really worth that day.