Bitcoin Casino Deposits
Bitcoin is a peer-to-peer based online payment system first introduced in 2009. Bitcoin is a decentralized virtual currency where payments are recorded in a public ledger, the unit of currency is abbreviated as BTC with micro-Bitcoins (mBTC), which are 1/1000th of a coin commonly used online.
BTC is a finite currency, meaning that by the end of 2140 there will be 21 million bitcoins issued and no more.
Can you fund your roulette casino account using Bitcoin? Keep reading to learn more.
Using Bitcoin to Fund a Mainstream Casino
Currently, the large majority of casino deposits made with BTC are at Bitcoin only casinos. The currency works through a dedicated wallet which you can either download or use an online version supplied by major exchanges. You send the coins to a ‘receiver id’ which is a 33 letter and number string supplied by the casino at which you wish to deposit.
If wanting to deposit with Bitcoin to a non-bitcoin casino, contact the site to find out if this is possible. A small but growing number of casinos are offering this functionality. If a site does accept the currency, they will convert it to a more traditional currency (Euros or Dollars for example) for use in roulette games and then convert the amount back to Bitcoin for withdrawal.
Using BTC at a Bitcoin-Only Casino
There are many online Bitcoin only casinos and this is a growth area. This is a quickly changing landscape, which ranges from very simple sites with a handful of basic ‘provably fair’ games – through to dedicated casinos with more than 100 games, including bitcoin roulette.
How to Choose the Right Online Casino
With traditional online roulette gambling, it is generally advisable to sign up to a site with a good long-standing reputation. However, this is not an option with Bitcoin casinos, which are mostly very new. Checking out potential sites through the BTC community forums, message boards, or staying with licensed operators is always a good way to go.
No Personal Information Required
Having found a roulette site you’d like to use, you’ll be able to play without supplying any personal information. In most cases, only an e-mail address is needed, and some sites do not even require this step (giving you a unique URL instead). Many sites will have a minimum deposit amount; usually around 0.001 BTC although this will vary from site to site.
Important: If you win large sums you may be impacted by the 5 BTC per week withdrawal limit some of the operators put in place.
To add funds to your online casino, you’ll click “deposit” and then enter the amount of Bitcoin you’d like to use at the roulette site. Then enter a bonus code if that is applicable. You should take the receiver ID that the casino will give you and go to your own wallet. You initiate a send transaction and paste the string into the recipient field. The money should be transferred instantly and there are no fees. This means you’ll often get a better deal at Bitcoin casinos, in the form of a lower house edge or big reload bonuses.
Roulette Bitcoin Casino Deposits
Bitcoin roulette is available at most of the best online and mobile casinos. Because blockchain technology allows secure payments with unique codes that change with each payment, the safest and fastest way to play roulette online is to use a bitcoin casino.
Roulette sites which use BTC payments handle deposits and withdrawals equally well. These funds go to a bitcoin wallet and appear within a matter of minutes. Not days or weeks like many other payment methods. Our reviews discuss if a site is a BTC casino or not, so read our online casino reviews to find the best BTC roulette online.
Bitcoin at Live Roulette Casino
Live bitcoin casino roulette is available, too. Live dealer casinos remain a cutting-edge technology in the online gaming industry because live casinos stream real croupiers spinning brick-and-mortar roulette wheels in real time.
Online casinos with live croupier roulette tend to allow deposits and withdrawals with bitcoin. Live roulette restores the game to the way it’s played in land-based casinos, along with live chat to allow players to communicate with croupiers and other roulette players alike.
Online Casinos Accepting Bitcoin for Roulette
Online bitcoin casino roulette is the ultimate in safe, secure, and private gambling online. Online casinos like BetOnline, Bovada, and LasVegasUSA are compatible with the bitcoin digital payment system.
Each has a dozen or more recommendations for bitcoin wallets you can use for safe deposits and withdrawals on their sites. Choose a wallet and you’ll be playing bitcoin roulette in minutes.
Advantages of Using Bitcoin
Transaction costs when using a Bitcoin casino are a key advantage, this currency is free –though you might pay in the form of a small spread at the exchanges when buying your coins to start with. This will be the case for both deposits and withdrawals
Using Bitcoin you’ll have less trouble with withdrawals than at many other sites. These are just a case of typing in your wallet ID, and receiving the withdrawal immediately. No need to send backup documents or pay any fees.
Bitcoin deposits are more secure. You won’t have to supply credit or debit card details, or bank account numbers to a casino.
Play Bitcoin Roulette at the Best Online Casino: Bovada
For fast and safe bitcoin casino deposits sign up at Bovadal.lv and earn a 150% Match Bonus up to $1,500. Use the bonus code: BVCBITCOIN150 to claim your free bitcoin.
Single Disadvantage of Using Bitcoin
With the currency being somewhat more volatile than others, you might have difficulty knowing the exact profitability of any win at the casino.
For example, you could make a deposit and win some Bitcoin. After you’ve withdrawn your winnings you realize that the value of the currency has gone down –so you have actually made a loss.
However, this can work both ways. On occasions, you’ll make more than you thought. Of course, this is also the case with non-virtual currencies. Although the movement in currency value is generally less extreme in these cases.