Bitcoin is a cryptocurrency that was first seen in 2009. It hit the market in 2011 as a modern day, decentralized currency. There's no central bank to back it up, and it works only to the P2P network.
Due to the contemporary, computerized nature, it has suffered a turbulent period. But it has quickly regained the popularity and by 2014 it became one of the payment methods offered by many online businesses.
Currently, there are also many online gambling sites that offer it as a payment method. There are even those casinos whose only currency allowed is Bitcoin. However, finding the right, safe and secure online casino where you can pay and collect your winnings using Bitcoin is a task that you must complete. You should read many reviews and check the array of payment methods and choose the one that accepts this cryptocurrency as a method of paying.
You like the idea of depositing and withdrawing using Bitcoin? Well, all you have to do is create a Wallet on Bitcoin’s site. Basically, you have two choices of wallets to choose from: a desktop and a web-based.
The desktop wallet requires a software download and is actually more secure as it cannot work on no third party online software. The second one, the web-based wallet does not require downloading of any sort and is actually recommended for online gaming. This way you can access it from wherever, and play your favorite online games.
No matter on which one you decide, you will be given a wallet address and will ask you to provide a password. In comparison with PayPal, Skrill, and Neteller, Bitcoin wallets won’t require that you insert your personal details.
Now that you have created your wallet, you will need to fill it with bitcoins. You can do that by buying them with your own money, Bitcoin exchanges, over the counter (buy from other users) and by mining Bitcoins (use special software in order to solve math problems).
You’ve set up your wallet, you’ve loaded it and now you want to deposit in your favorite casino. You can do that by going to the casino’s payment options page and choose the Bitcoin as your currency.
Contrary to any other payment method, you won’t need to insert your personal information anywhere. You will need to know your address and know the address of the online casino site of your choice. Open your wallet first and select the ‘Send Money’ tab, add your address, then add the deposit amount you wish and add the casino’s address. Confirm. Congrats, you’ve successfully deposited via Bitcoin!
Log into your Bitcoin casino account, go to the payment options page, find the field ‘Bitcoin Address’, fill it in and add the address. Your winnings will then will be transferred to your account. This is basically one of the easiest ways to get paid online.