Crypto gambling is slowly gaining global recognition. If you’re new to Bitcoin dice games and would like to experience crypto gambling, we’ve made a list of everything you’ll need to get started. But first, let us quickly walk you through the basics of cryptocurrency and how to set up your account.
Setting Up Your Bitcoin Wallet
A Bitcoin wallet is crucial for storing digital tokens. There are several variations from software to physical wallets, each with its own set of pros and cons. We recommend using a hosted wallet, which functions as a conventional bank. You can store or transfer any amount at will while incurring minimal transaction charges.
Once your account has been set up, deposit your preferred sum in Bitcoins. Like traditional stock prices, the value of BTC fluctuates. Hence, familiarize yourself with the latest rates before investing. You can either purchase BTC using a debit/credit card or bank transfer, PayPal, or any other payment mode.
Getting Started with BTC Gambling
Once your BTC account is set up, it’s time to find the right crypto casino near you. There are several reputed platforms, so you should never run out of options. Once you’ve won a certain sum, you can withdraw the amount. The process is quite similar to a traditional casino, although the sum will be credited to your Bitcoin wallet and not the bank account.
The Benefits of Bitcoin Gambling
- Secure Payments – Online gambling is usually associated with several security glitches. Hence, players are constantly looking for a more secure gaming experience. Since crypt transactions are truly anonymous, their application in iGaming makes sense. Instead of sharing your credentials with the casino, you can simply rely on discreet transactions, minus third-party interference.
- Flexibility – Bitcoin transactions are infinitely quicker than traditional payment modes. This is crucial while withdrawing a sum since traditional casinos take anywhere between 24 and 72 hours to complete the transfer. At the same time, crypto casinos take about 24 hours at most. BTC casinos also offer higher deposit and withdrawal limits compared to standard online casinos.
- Transparent Operations – Unlike traditional transactions via third-party gateways, crypto transactions are stored on public domains, which makes them open to all. However, since there is no personally identifiable information attached to these transactions, it’s not a security breach. The buyer and seller are the only people aware of the transaction code.
The Drawbacks of Bitcoin Gambling
- Frequent Fluctuations – All cryptocurrencies fluctuate daily, but Bitcoin is the most volatile since it enjoys greater patronage among the masses. The good news is that despite the downturns, BTC prices are known to soar shortly afterwards, making them a reliable asset.
- Learning Curve – Getting used to BTC gambling takes practice since the technology hasn’t gone mainstream yet. The negative notions around cryptocurrencies are slowly dissipating, which opens up greater possibilities for the future. And its application won’t be limited to gambling.
