As Bitcoin gambling becomes ever more popular, you may have many questions. Rest assured, we’re here to make things simpler.
When putting your Bitcoin into an online casino, you may understandably be worried. Will you be able to retrieve your Bitcoin after winning or deciding to cash out? We’re here to explain to you how to make a withdrawal from a Bitcoin casino. If you are not sure how Bitcoin works yet, you will be able to learn more here. We’ll also be mentioning a few secure Bitcoin casinos if you’re not sure which ones are legit.
What is Bitcoin Again?
Bitcoin is a cryptocurrency that exists solely as digital tokens or virtual currencies that can be used on your computer or smartphone. These virtual currencies are kept in a virtual wallet and traced using a public ledger called the blockchain.
Bitcoin is ideal if you wish to gamble anonymously. The risk of giving your card or bank details is eliminated completely when using this method. Even though blockchain is public, no one will know which specific key is yours if you don’t tell them yourself. The fact that Bitcoin is not governed by any country or bank adds to its anonymity.
To acquire Bitcoin, you can sell goods or services in exchange for Bitcoin, or buy them using your currency. Bitcoin can be obtained and exchanged in part. Online Bitcoin casinos also allow you to deposit and withdraw Bitcoin in part. One Bitcoin is estimated to approximately 9.000 USD as of July 2020. Next, you’ll need a Bitcoin wallet to keep and manage your bitcoin through. Below are examples of the most commonly used variants.
Web-based Bitcoin Wallets
Your currency information is stored online; these are the easiest and most convenient. Your Web-based Bitcoin wallet can be accessed from any device that has an Internet connection. Web-based wallets refer to desktop and mobile wallets, as both instances require an Internet connection.
Desktop Bitcoin Wallets
Your Bitcoin is stored in an online wallet which may have an app that can be downloaded to your desktop. You may also simply access your wallet on the internet without downloading an app. Both options require an Internet connection.
Hardware Bitcoin Wallets
Your bitcoins are stored externally, for example, on a USB flash drive. In this instance you will save your bitcoins externally, and will be able to access them using a computer without the need for an Internet connection.
Mobile Bitcoin Wallets
Your Bitcoin is stored in an app that’s downloaded to your mobile phone. Mobile Bitcoin wallets are compatible with most smartphones. These apps are convenient as your smartphone is always within your reach. These apps require an Internet connection to function.
Despite the fact that Bitcoin is banned in some countries, Bitcoin is the most popular global currency. Using Bitcoin means you have the ability to trade quickly, discreetly, and to and from most countries in the world.
Because the currency isn’t governed by any bank or country, little to no fees are added on transactions. When using Bitcoin at an online casino, you remove the middleman. Bitcoin goes straight from you to the casino, and straight from the casino to you. This makes for faster, cheaper, and more secure transactions when gambling online.
How to Deposit Bitcoin Into an Online Casino
Before you can withdraw Bitcoin from an online casino, you’ll have to deposit Bitcoin into a online casino of choice. If you do not have Bitcoin of your own yet, we will discuss how to get Bitcoin as well.
Register at your online casino if required. Your chosen online casino should guide you through the process. Go to the deposit options and choose Bitcoin as your preferred currency. Your casino will generate a unique depositing address for you. Copy your deposit address from the casino and navigate to your Bitcoin wallet. Choose an amount to transfer and paste the unique deposit address into the required field within your Bitcoin wallet. The funds will instantly show in your online casino account.
How to Withdraw Bitcoin from an Online Casino
First and foremost, you need to make sure that the casino allows you to withdraw Bitcoin. Some online casinos only accept it as a deposit option.
1) Once you’re ready to cash out, simply click on the “cashier” section.
2) Here you’ll be given options of the currency in which you wish to cash out, choose Bitcoin. Select the amount you want to withdraw and insert your virtual wallet number.
3) Your Bitcoin should be deposited to your public wallet within a maximum of 24 hours.
Keep in mind that most online casinos do set a minimum cash out limit, even for Bitcoin. This amount, however, is rarely more than 0.01 BTC. Online Bitcoin casinos may have a maximum withdrawal limit.
Bitcoin Online Casinos
As Bitcoin has become a more widely accepted currency, many online casinos are now accepting Bitcoin. A number of these casinos offer Bitcoin casino bonus deals or several free spins upon signing up. This means you won’t have to deposit anything to stand a chance to win more of the cryptocurrency.
Bitcoin can be broken up into several parts, namely BTC, dBTC (10th of a BTC, or 0.1), cBTC (100th of a BTC, or 0.01), mBTC (1000th of a BTC or 0.001), μBTC (1 000000th of a BTC, or 0.000001) and the Satoshi (100000000th of a BTC, or 0.00000001). You won’t need to buy or deposit an entire Bitcoin.
Bitcoin casinos offer a variety of Bitcoin casino games including iconic casino games such as slots, blackjack, roulette, poker, baccarat, etc. You can also use your currency to bet on traditional sports, as well as bet on esports.
Suggested Online Bitcoin Casinos
Here are some of the best and most popular Bitcoin casinos that offer safe and fast ways to withdraw Bitcoin.
Many players love to play on FortuneJack because it accepts BTC and a few more cryptocurrencies like LTC, DOGE, ETH, ZEC, TRX, DASH, BCH, and XMR. Since only cryptocurrencies are accepted here, you simply transfer funds from your wallet to the casino’s wallet address or QR code. Even better is that you can conveniently withdraw from FortuneJack and receive your cashout straight to your Bitcoin wallet. Although FortuneJack restrict access to some countries, it does welcome players from the US, ensuring all FortuneJack USA players that they can easily deposit and withdraw Bitcoin.
You will enjoy the best of both worlds with Sportsbet.io because it features an impressive online sportsbook and equally exciting casino. Players can also use their preferred fiat money or use BTC, ETH, LTC, TRX, and SOC for deposits and withdrawals. You can easily bet on sports with Bitcoin or keep spinning reels of amazing online slots. Once you’re ready to collect your wins, simply make a withdrawal from this Bitcoin casino and sportsbook.
Everyone who loves to play in dApps surely knows about Earnbet Casino. Previously called EOSbet Casino, Earnbet is one of the most popular decentralized casinos in today’s market. It also takes pride in being the first licensed decentralized casino. It accepts multiple cryptocurrencies, including BTC, LTC, ETH, EOS, and more, which you can use to play its provably fair games. Most of all, Earnbet Casino promises smooth banking transactions and free dividends for life.
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Ready to play in a casino and make a withdrawal? Check out these top 5 fiat and Bitcoin casinos with no withdrawal limits and have a great time playing amazing online xasino games.
If you’re interested in getting an updated 2020 list of all Bitcoin casino reviews for this market, check out the casino review section.