Bitcoin Gambling Guide – Best ways to use Bitcoins for Online Gambling

Best ways to use Bitcoins for Online Gambling

Bitcoin Is basically a digital cryptocurrency based on the concept of Blockchain technology. It’s reach increased as an international digital currency triggering a new wave of economy parallel to the existing format of traditional currency. It has been only since a few years that the flair of bitcoins and cryptocurrencies have gained abundant popularity. The decentralized bitcoin makes the entire system transparent and anonymous.

How to use Bitcoin for Online Gambling

Along with gaining popularity in the USA and also other countries, it has developed a new arena of gambling, gaming and lotteries through bitcoin casinos.

Bitcoin does not encompass physical bills or coins rather stores e-wallets traded on BTC exchanges.

The potential of Bitcoin cryptocurrency shall not be underestimated with the current digital growing world. Though it stands in a grey area as the USA does not approve of it legally, it is making its mark wide and strong. The online gambling industry finds Bitcoin as a boon. It is a natural fit for the poker games, lotteries, online casinos, etc. for multiple reasons.

Top Bitcoin betting sites and Online Casinos:

• betway & 888sport

Popular Bitcoin Casinos

Popular Bitcoin Casinos

Online Casinos are modern day versions of traditional casinos where players can gamble online. They are also called the virtual casinos or internet casinos.The more you play the better you get at it. Online casinos makes the entire process easier than never for the gamblers. To dive into online gambling enter into one of the online casinos.

1.Satoshidice
2.Bitzino
3.Satoshibte
4.Strikesapphire
5.Sportsbet.io

These online casinos and websites are the best help one could get utilising online gambling with bitcoin. It is convenient and cost-effective for the players to invest. Day to day track of transactions can be done through digital mode.

Step by step guideline to use Bitcoin for Online Gambling

Now that you have jumped into the steps, then you are convinced with the bitcoin online gambling ease. To pour in the clarity regarding bitcoin use for online gambling, a detailed guideline is jotted down.

#Step 1- Signing up for the account- Head over to the preferred and selected website to sign up for a bitcoin account.

  • Like any other signing up, this account also requires your name, email id and passwords. The password of this account has been precisely taken care of. It should be different from the other websites or accounts created.
  • The password should be as strong as possible. Upper case, lower case, numbers, symbols should be added proportionately to make it uncrackable.

#Step 2 – Extra layer of security with Two factor authentication

  • Several websites including the most used Coin base will initiate the user to add too two factor authentication (2FA). This is one of the most recommended steps for better security.
  • 2 FA provides a thicker layer security to your bitcoin account. To gain access the user will have to enter the pin code that appears on the user’s mobile.
  • The user is asked to add a backup phone number in case you lose your own phone. The number added can be anyone you trust. In case you lose or format your phone, a reset option is always provided in the bitcoin account.
  • Anyhow, having a backup number will escalate the whole process to regain access to the account.

#Step 3- Linking the account with the bank account

  • In order to buy bitcoin, your bank account must be linked for smooth transactions.
  • Unless the link is not done, transactions cannot take place. Users can also add their debit/ credit numbers for the transaction purpose.
  • KYC and other identity verifications are also available to avail the instant bitcoin purchases.
  • The bitcoin purchase is easy if the steps are correctly followed with verification.

Step 4- Wallet arrival for storing bitcoins

  • While thinking of bitcoin online gambling, you might get skeptical. Nevertheless, Bitcoin has proved its efficiency quite strong in the online gambling industry. The best part of gambling through bitcoins are penned down as follows.
  • Instant buys are available through debit cards and credit cards only, not by bank account.
  • KYC and other identity verifications are also available to avail the instant bitcoin purchases.
  • Once the transaction is successful, the user is only a few steps away from BTC online gambling.

Advantages of using Bitcoin in Online Gambling

While thinking of bitcoin online gambling, you might get skeptical. Nevertheless, Bitcoin has proved its efficiency quite strong in the online gambling industry. The best part of gambling through bitcoins are penned down as follows.

#Step 1 Privacy- The best part is that the user can stay anonymous. No lengthy procedures of identity verification takes place. It is as simple as writing down your name. It is beneficial for those countries where online gambling is illegal like the USA.

#Step 2 Speed booster- The physical procedure of transactions and withdrawals are way too tedious. No more waiting for 5 to 7 working days. Just click a few buttons and it’s done.

#Step 3 Promotions- Online poker, casino play, lotteries spread their arms wide open with big promotions. BTC is easily available to them. All of these online games are available to BTC users.

#Step 4 High end security- If you are cautious regarding the thick layer of security while entering your details, there will never be a problem. The entire system is built with a strong security network.

#Step 5 Cost effective fees- The fees are almost negligible and often the operator covers them for the users. The cashier section has very low costs for the users and they can provide better odds and low margins.

Disadvantages of using Bitcoin

#Step 1.Uncertainity- The bitcoin rates keep fluctuating regularly. They are never stable. At times they may get you into trouble and at times they might earn you profit.

#Step 2.Unsure of the future- Several countries and states are trying to adapt the bitcoin But the future of bitcoin and cryptocurrencies seems unstable and blurry.

#Step 3.Difficult to operate-If the user is not tech savvy then one might find it tough initially. The constant engagement with it will make it easier gradually. Also the user interface with casinos and gambling are getting easier with time.
Bitcoin has been the new wave of economic transactions which will grow with the new age. The simplicity and security provided will engage more than users to it. Also, gambling getting involved with bitcoin is going to be the best booster for bitcoin to become known to people. Gambling is interesting and the mixture of will reach out to people loudly.

Summary
Step by step guideline to use Bitcoin for Online Gambling
Article Name
Step by step guideline to use Bitcoin for Online Gambling
Description
Step by step guideline to use Bitcoin for Online Gambling 1.Signing up for the bitcoin account 2.Extra layer of security with Two factor Authentication 3.Linking the bitcoin account with bank 4.Wallet arrival for storing bitcoins
Author
Publisher Name
Lotto Blog
Publisher Logo