Digital currency gambling may seem a little intricate when starting out – complex terms like “cold storage” and “private keys” may be intimidating, and make the whole learning process seem even harder. Add the fact that the information available online may be overwhelming, and it’s easy to understand why some people simply don’t find Bitcoin gambling attractive. However, Bitcoin gambling is simpler than it looks, and this piece aims to provide a simplified guide to potential online gamers by taking them through the various aspects of crypto currency gaming.
SO WHAT IS BITCOIN?
Bitcoin is a digital currency that is stored electronically. It is not regulated by state or institutions, but rather has a computer software generating and self controlling mechanism.
GETTING THE RIGHT WALLET FOR YOUR GAMING NEEDS
A wallet is an essential item in the online gaming scene as it enables you to safely keep your crypto coins. A quick surf online will yield a number of options but you should be cautious and ensure you carry out a due diligence exercise before settling on an option. Cryptocurrency wallets fall under two main categories: one where you assume total control over your possessions and the other where your coins are administered by a third party. The types of wallets available however include: mobile, desktop and web wallets.
HOW TO BUY CRYPTO COIN
There are a lot of options to choose from for those wishing to buy crypto coin. Here is a list of the best, safest and easiest methods through which you can buy cryptocurrency.
i. Cryptocurrency exchanges
Cryptocurrency exchanges are by far the most common places for buying crypto coin. This is because they provide a platform where potential buyers and sellers can interact and initiate trade. The elimination of intermediaries means lower costs in terms of fees. Upon buying however, you are required to deposit the currency in an alternate wallet before finally remitting it to the casino’s account. This is because regulations governing exchanges forbids them from transacting in gambling related proceeds.
ii. Cryptocurrency brokers.
Purchasing through brokers is another convenient way through which you can acquire some crypto coin. The price of the broker is usually capped at a certain price and the buyer makes a one off acquisition attempt. The delivery of your currency is made almost instantly for credit card purchases. This mode of purchase provides an easy avenue through which novices can own crypto coin. The only issue with acquiring cryptocurrency through a broker is the limitation on the amount that can be bought in monetary terms. Surpassing the set limit may require you to disclose your personal information for purposes of verification.
iii. Cryptocoin ATMS
Use of ATMs is another way through which you can acquire digital currency. The service charges at approximately 8 percent may however prove exorbitant to many. The fact that you also have to physically visit the establishment does away with convenience.
i. Sign up
Once you have acquired your crypto coin, you now proceed to sign up at a casino of your choice. The signup process is usually simple – just enter your email, username and password and you’re done. The whole process should only take a minute.
ii. Email verification
After providing your email address, a verification link will be sent to your inbox. Log in to your email and click on the link. The link will then direct you to the casino page and your account will be confirmed and ready for use.
iii. Locating your personal deposit address
Whether you are using a computer or phone, select the deposit option on the menu and key in the name of your preferred casino. This will prompt the wallet address to appear – this is your personal deposit address. Funds sent to this address will reflect in your casino account’s balance.
iv. Depositing into casino wallet
Access your BTC wallet and click the send money option. Input the deposit address you copied from the casino and any other details required. Click on send and you will receive a confirmation message in a short while. You are now good to go and can play any of the games available.
However, make sure you fully understand the wagering requirements before committing your money. In the event of a win, your payouts will be sent instantly to your wallet.
Cryptocurrency gambling is one of the simplest and most credible form of betting. Now that you have all the information with you, why don’t you try your hand at one of the games available online?
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