What is Bitcoin? – Everything You Need to Know

Bitcoin FAQs

Bitcoin is the new currency of today. Digital and powered electronically, this payment alternative is fast becoming one of the most prestigious ways to pay for things across the globe.

Bitcoin has developed an undertone of class and elegance for the community that has built around using it. Many people today often perceive it as one that you will not have access to unless you are privileged or very finance savvy as they say. But the truth of the situation is, the cryptocurrency is a digital must, especially for online casino enthusiasts.

Cryptocurrency can provide users autonomy while using, meaning you will not need to verify who you are, as that is all inclusive within the currency and system of it all.

Within this guide, we will cover everything that you need to know about the use of Bitcoin cryptocurrency, in addition to the purpose and integration within your everyday life including finding an elusive casino that accepts Bitcoin and other cryptocurrencies.

What is Bitcoin used for?

Bitcoin is used as a form of payment for all manner of items and tradable goods. Everything accessible for purchase online can be used in coordination of Bitcoin, meaning you literally could make all your payments through one seamless transaction.

Of course, it will always come to a question of whether businesses do accept the use of cryptocurrency for your purchases, as not all are open to the trade of the digital currency.

The most popular use of cryptocurrency today at the moment is within the online casino realm, sue to players loving the fact they can be anonymous, but also verify who they are by the use of this payment method. The best Bitcoin casinos are the ones we have enlisted within our guide and separate page for individual payment methods.

Of course, cryptocurrency is not the only payment option you can use, there are other E-wallet varieties that are up for use, such as PayPal and Neteller. The only issue with using these is that you sometimes will be excluded access to bonuses and promotions due to the casino believing these methods do not provide enough identification when using them. So, we suppose Bitcoin kind of helps you out a little here as you can simply link up your account and get depositing – it is as simple as that!

Bitcoin is also very suitable for trading when wanting to alternate currencies and win a small profit in terms of the alternating value for each currency i.e. GBP, USD, EUR etc. So, if you are into the whole trading concept of currency, Bitcoin could definitely be your jam. Of course, you will need to educate yourself in terms of trading correctly and performing the correct risk analysis beforehand. Trading is not a light-hearted activity and really does need some extensive research and preparation in understanding the concepts behind it all.

You also can keep hold of the Bitcoin in hope that it increases in value, so you end up having much more than what you actually invested. Of course, this process is not instant and requires patience and understanding of the market, so make sure you hold out!

How can you incorporate your casino experience with Bitcoin cryptocurrency?

So, it is common knowledge that the casino iGaming industry has very much welcomed the use of Bitcoin amongst other cryptocurrencies for your gaming efforts and activities. You will be able to enjoy all what the gambling world has to offer, meaning poker, blackjack and roulette are not too far ahead to play with. With the instant fast paying system, you really can deposit and get into the casino with a click of your fingers.

Many casinos nowadays also provide specifically catered bonuses just for Bitcoin users, so you really can adopt a unique experience for yourself with this use of preferred payment method.

NetEnt, Playtech, Microgaming and IGT are some of the most popular names within the casino industry that have recognised and embraced Bitcoin as a payment method. So that should definitely give you the confidence to go Bitcoin, if you were perhaps contemplating it before as an option. Lots of new online casinos often provide higher depositing allowances for players that opt to deposit with Bitcoin too, so if you are a high roller, this should definitely be your option forward.

Why should you use Bitcoin?

So of course, to use Bitcoin confidently, you should know the advantages that it will provide to you and your gaming experience. Of course, many, many players are raving about how clean and simple it is to use the payment option, but we thought going into more detail, should definitely be useful!

It goes without question that the speed and processing of cash through this multiple currency payment option, is sufficient for any player in today’s gambling community. Yes, players will love to hear that this option is even more instant than your typical card and bank transfers. You will receive your winnings via withdrawals instantly, in addition to deposits. Refresh your page and you will find payments instantly credited. It is easy as one, two and three!

The use of Bitcoin is completely and 100% safe, meaning you will not need to worry about your personal details and information in the transaction process between casino and payment method. There is no transfer or exchange of details, just money, money and money! So, if you are a little bit iffy about your data and safety, Bitcoin has got your back for the foreseeable future.

There are usually also no fees applied by the casino when using your Bitcoin. This is due to the leverage and space that cryptocurrencies provide casinos in the transfer of cash. It is much cheaper to exchange and develop. Say goodbye to casino withdrawal fees!

Offers and promotions are all what casino players talk about these days, they want access to the latest and boldest of deals within the market. Bitcoin is that market where casinos have begun to really exploit the large and generous casino offers, that they really know players will lunge and leap for without a thought or second. Poker and high roller bonuses for classical casino games are the current craze and many more new players become enticed by this momentum within the market.

So, you know all about Bitcoin, but where do you get it from?

That is the question! Many players and users want to get involved but have no clue on where to actually get started with it all. Usually today, Bitcoin is traded via online marketplaces and other Bitcoin holders for cash and higher values (yes, we told you to keep hold of it, if you have it as it's in demand!). The transfer of actual Bitcoin is given and transferred across channels that involve E-wallets, Bank Transfers and even card payment options. However, the important thing to remember is, you will need to acquire a Bitcoin wallet which will hold and store your cash. It is important to remember this in your quest of acquiring and building your Bitcoin net balance. It is all digitally managed and monitored, so you should find it very easy to work with and use.

Find a Casino accepting Bitcoin

To find a Bitcoin casino. You can first and foremost look through our guide and pages that direct you to all the latest casinos of the current season. We provide reviews and casino recommendations of the extent of Bitcoin services each casino actually provides. This will include everything from the actual game portfolios that you can play with, to the bonuses incorporated and the standard that the casino holds in comparison to the other options that are currently available to you elsewhere. Everything is very transparent, yet if you wish to seek out further player experience opinions, you can also search the internet for player reviews spread across the search engines.

Many players will be honest about the extent of their experience, leaving no corners unturned – just like us!

Bitcoin regulation within the casino world

Bitcoin is an anonymous use of payment within the casino world, however many casinos will always provide the correct technical acquisitions, to ensure that players are always safe with whatever payment method they use within a casino. For that reason, casinos allowing players to use Bitcoin that are fully verified and legitimate to provide a supported Bitcoin experience, will always have the correct licensing and verification of their ability to support this payment format.

Look out for the casino regulatory licenses, such as the UK Gambling Commission. This will ensure that you are 100% safe and monitored to the best capacity for your interest and benefit when playing.

Author

Hi, I'm James

"More than 5 years experience in the online gambling sector and 4 of them working with casinos. I'll share my thoughts relating to what you should be looking for in a casino and whether a site is worth your time and money."

Reviewer since October, 2020