Bitcoin casinos have exploded in popularity in the past few years. So, what is a Bitcoin casino? How do Bitcoin casinos work? Our team at Bitcoincasinos.com has put together this comprehensive guide on everything you need to know about Bitcoin casinos. You will learn the step-by-step process of how to buy Bitcoin and use it at your favorite online casino.

What is A Bitcoin Casino?

A Bitcoin casino is an online casino site that accepts crypto as a deposit and withdrawal method. With the boom in crypto, it’s only natural many online casinos would use Bitcoin as a payment method. Bitcoin casinos offer all the games you will find on standard casino sites including table games, poker, sports betting, and live dealer games.

How To Get Started On A Bitcoin Casino

Playing on a Bitcoin casino can be done quite easily. If you are a complete beginner or don’t have any idea about crypto or how to use it on a betting site, we’ve got you covered.

Follow the steps below and you’ll be well on your way to betting on your favorite online casino games.

Step 1 – Find a Bitcoin Exchange

A Bitcoin exchange is a platform you can use to get your Bitcoin. You can use other cryptocurrencies or your chosen currency to swap for Bitcoin. Choosing a reputable exchange with minimal fees is advised. Let’s look at the best options below.

• Coinbase – Coinbase has an easy-to-use platform – perfect if you are new to crypto exchanges. You can swap many different currencies for your Bitcoin to use on betting sites at the latest exchange rate.
• Binance – Binance is one of the most popular Bitcoin exchanges on the planet. You can swap USD, Euros, GBP, and many other currencies for Bitcoin for minimal fees.
• eToro – eToro is a popular exchange used by over 120 million customers annually. Bettors looking to obtain Bitcoin for wagering quickly and at a 1% fee. Currently offering over 21 cryptocurrencies on its platform, but you can’t swap another crypto for Bitcoin, only fiat currency at the moment. It should be noted that eToro isn’t available in all states as of yet.
• Crypto.com – Crypto.com is a brand synonymous with crypto trading and one of the go-to places for those looking to get Bitcoin for betting sites. Over 275 cryptocurrencies can be found on the platform and you only need to purchase a minimum of $1 of Bitcoin.

Let’s look at the process of purchasing Bitcoin for use on your favorite betting site. Most crypto exchanges are similar, but for this example, we will use Coinbase.

1. Sign up – Go to the Coinbase website and click ‘Sign Up’. After you enter your details and confirm you are over the age of 18, you will receive a confirmation email you must click to verify your email. You will then need to input your phone number and you will then receive a code by text to confirm on the site.

2. Verify Your Identity – You will then be asked to fill out personal information including name, address, employment, what you will be using Coinbase for, etc.

3. Select ‘continue’ – You have now signed up for Coinbase. Now you need to wait for a confirmation email asking you to verify your identity.

4. Add payment method – How do you want to buy your Bitcoin? You can link your bank card to your Coinbase account so you can easily purchase Bitcoin or any other crypto.

Step 2 – Create Wallet

A crypto wallet is somewhere you can keep all your Bitcoin and other crypto. You will need a crypto wallet for depositing and withdrawing from Bitcoin casinos. Let’s look at some of the best crypto wallets on the market.

• Binance Wallet – Binance is not only an exchange network but you can also use the Binance Chain Wallet to store your Bitcoin. You can download the Binance app or install it in many types of browsers including Google, Firefox, Brave, and Edge. Binance is particularly a favorite of beginners due to its easy-to-use platform and stellar reputation in the crypto world.
• eToro Wallet -eToro is a top choice for Bitcoin casino users as the platform is very secure with multiple signatures required, a security key that can be replaced if you lose access, and it’s very simple to use.
• Trust Wallet – Trust Wallet is a well-known crypto wallet that supports not only Bitcoin but many other cryptocurrencies. You can rest assured your key is safe in your hands as the details aren’t kept on the Trsut Wallet servers, reducing the chance of your wallet being hacked.
• ZenGo Wallet – ZenGo is another hot favorite amongst online bettors due to its security features. Including 3D Facelock biometric, keyless security method, and limited transfer amount to prevent fraud.

Step 3 – Buy Bitcoin

Now you need to purchase Bitcoin to use on the betting site. You can add funds to your crypto wallet with a bank card or credit card, and then buy Bitcoin. On some wallets you can choose how much Bitcoin you would like to buy and then choose to pay by card.

Step 4 – Deposit on a Bitcoin Casino

Depositing on a bitcoin casino is straightforward and can be done in seconds. For the example below we’ll use Mega Dice which is one of the most popular Bitcoin gambling sites.

1. Go to the wallet tab – You will find the Mega Dice wallet at the top of your screen on the homepage after logging in. Mega Dice is a crypto-only betting site, so you won’t find fiat options. Other betting sites that offer a mix of crypto and fiat may have a ‘Cashier’ section as opposed to Mega Dice’s ‘Wallet’.
2. Pick your crypto – Bitcoin is not the only crypto found on Mega Dice and other Bitcoin casinos. You can also bet with Ethereum, DOGE, XRP, and many more.

3.  Where to Deposit – Copy the Bitcoin address provided by Mega Dice or whichever Bitcoin betting site you are using. Open your chosen Bitcoin wallet and go to the ‘Send’ tab. Choose Bitcoin or whichever crypto you are using and paste the depositing address and hit ‘Send’.

4. Start Betting – The Bitcoin will be on the online casino in a matter of minutes. You can then use your bankroll to start making bets on your favorite casino games.

Withdrawing From a Bitcoin Casino

Withdrawing from a Bitcoin casino is just as quick as depositing. All you need to do is follow the below steps and the crypto will be in your wallet in no time.

1. Get Your Wallet Address – Before you can withdraw your crypto funds you need to have your wallet address. Login to your wallet and click ‘Receive’ and copy the address.
2. Go to the Wallet Tab – Similar to depositing, you click the wallet or cashier section on the betting site. Using Megadice again, the wallet is at the top of your screen. Go the the ‘Withdraw’ tab.

3. Choose Crypto – On the top of the screen, you will have the option to choose which crypto you would like to withdraw. Choose Bitcoin and enter your wallet address and the amount you wish to withdraw. Make sure it’s above the minimum withdrawal amount.

4. Withdraw – After you click ‘Withdraw’ your Bitcoin will be in your wallet in a matter of minutes.

Pros and Cons of Bitcoin Casinos

Bitcoin casinos offer many pros but what are the cons of using Bitcoin or any other crypto-betting site? Let’s look at both.

Pros Explained

• Privacy/ Anonymity – Gambling anonymously on betting sites is a big selling point for many gamblers across the globe. Using a standard deposit method like your credit or bank card will mean the deposits and withdrawals on the gambling site will appear on your statement. With Bitcoin, you don’t need to worry about anyone else being able to view your transactions. Your personal details are not attached to your wallet, so no one will be able to link you to your Bitcoin holdings.
• Low or No Fees – The great thing about using Bitcoin or any other crypto as Ethereum is the fact you don’t need a middleman, so you won’t be charged any fee. You will usually need to pay a small fee when changing the crypto to your local currency or any other fiat currency.
• Fast Transactions – Bitcoin payments are immediate. You don’t have to wait for your transaction to be processed as long as the sender or receiver has crypto payment capability.
• Safe – Bitcoin casino sites are generally considered to be safe as you are not putting your bank details at risk or other sensitive information. You will need to use your personal details to sign up in most cases but you put your bank details at risk by using crypto.

Cons Explained

• Volatile – Bitcoin is subject to the market and it can be very volatile. You could win $10,000 and the next day it’s worth $8,000. With the same rule though, it could be worth more. So, it’s worth keeping in mind the price can be quite unpredictable.
• Not All Casinos Accept Bitcoin – Bitcoin is not yet accepted in all online casinos. The good news is that many online casinos with a focus on crypto betting are available for you to choose from.

FAQs

Do all online casinos accept Bitcoin?

No, not all online casinos accept Bitcoin. Many Bitcoin betting sites have been launched in recent years though, so it won’t be too hard to find an online casino you can pay with Bitcoin that will offer all your preferred games.

How to check if an online casino accepts Bitcoin?

You can easily check if your chosen casino accepts Bitcoin or any other currency by going to the cashier section. But, you will usually find the Bitcoin logo on the homepage if it’s a Bitcoin-friendly gambling site.

Are Bitcoin casinos safe?

Yes, Bitcoin casinos are safe as long as you play at a licensed casino site. You can check customer reviews, try and speak to customer service to make sure they are contactable, and do some research before picking what Bitcoin casino you will choose to play at. The good news is that we’ve done this for you and you can find a list of all the legit Bitcoin casinos at the top of this guide.