How Do I Buy Bitcoin?
First, you need a wallet to store the bitcoins you buy and win. For storing your BTC the obvious choice is Blockchain Wallet, which is both the most popular and the best wallet. It’s easy to install, simple to use and you can access your funds with both with your computer (PC, Max, Linux) and your mobile devices (Apple and Android phones and tablets, the app is available at Google Play and App Store).
Once you have installed your wallet, it’s time to buy bitcoins.
To purchase bitcoins, head on over to a Bitcoin exchange. An exchange is a website where you can convert fiat currencies (dollars, euro, ruble, etc) to BTC.
Recommended Bitcoin exchanges for China & USA:
- Bitfinex (USA)
Recommended Bitcoin exchanges for Europe, Brazil & South-America, Asia & rest of the world:
- Binance (altcoin-only exchange, where you can buy for example Litecoin and Monero with your Bitcoin)
After you’ve purchased your first bitcoins, you can head on over to one of our recommended Bitcoin casinos and start playing.
Why Gamble in Bitcoin and Other Cryptocurrencies?
Bitcoin and other popular cryptocurrencies like Ethereum, Dash and Litecoin are perfect for gambling. In fact, they are so perfectly suited for it that online-gambling related transactions are the single most popular thing Bitcoin is used for. Why so?
Play With Bitcoin for Enhanced Privacy
Playing with bitcoin enables you to gamble in complete privacy.
If you believe that a person should be able to use his or her money as they please, without anybody hassling them or even knowing them what they’re doing, then Bitcoin is for you.
Thanks to Bitcoin you can make money transfers in enhanced privacy compared to the old, centralized banking system. This is among the chief reasons why Bitcoin is so often used for online gambling: your betting and slot spinning is known to you and the casino and nobody else.
If you deposited with a credit card or an online payment system like PayPal, it will leave a trace and, for example, your bank would know exactly what you do on your free time. When you transfer money into a casino and back out again in Bitcoin nobody is the wiser: some money was moved from one Bitcoin wallet to another; that’s the extent of public information. Compared to the “old world” – FIAT money, centralized banks – Bitcoin is by far more private and allows you security.
Sure, Bitcoin transfers can be tracked if one puts his mind to it. But if you take it a step further and move to privacy focused currencies such as Monero or Zcash, you can conceal all your money transfers from even the most advanced money tracers.
Safe and Secure Deposits and Cash Outs
There is no safer way to transfer money online than bitcoin.
Bitcoin is the perfect currency for online transfers. When you transfer bitcoin, the transfers are safe, secure, anonymous and irreversible. This makes it the currency of choice for gambling too.
The safety aspect of using bitcoin can’t be overstated. Simply store your bitcoin in a secure wallet and you’re much better off than when using a credit or debit card to deposit. For one thing with Bitcoin there is no information to be stolen, whereas credit card information often finds it’s way to wrong hands (most often it’s stolen from hotels or online shops).
From gambling site’s (like a bookmaker or a casino) viewpoint a big plus of Bitcoin is that each transfer is practically free. Credit card deposits are expensive for casinos with up to 10% of the deposited funds going to the credit card companies’ bottomless pockets. The free and secure nature of bitcoin results in casinos loving Bitcoin-using players over any other customer group. This is why you get better bonuses than players playing in dollars or euros.
Deposit as Little or as Much as You Like
When you play in Bitcoin, you can deposit as little or as much as you like.
Because credit (and debit) card deposits are costly to online gambling sites, they enforce strict minimum deposit sizes. This is not a problem with Bitcoin transfers.
Depositing very small sums is a good practice for testing out a new online casino or a dice game. Bitcoin is perfect for this, as you can deposit and play anything starting from a single satoshi. Later, when you feel comfortable with the website or the game, you can deposit more.
In the higher end of deposits Bitcoin is also highly useful. If you tried to deposit big amounts with any other deposit method (credit card, PayPal, other online wallets like Skrill) you’d run into practical problems (is the card limit high enough?) and security issues (needing to send proof of funds origin to an ewallet). With Bitcoin there’s none of thins nonsense, you can deposit multiple bitcoins with one go.
This limit issue important when it comes to cashing out. Cashing out very small sums from an online casino would be very difficult if you used a “normal” currency to deposit. No online casino would process a cash out the size of a few dollars or euros simply because it’s too expensive for them to do so. On the other hand cashing out large sums is a security issue for the casinos, so it can be very slow. With Bitcoin cashing out small or big sums is not a problem.
Provably Fair Gambling
You can always verify that the gambling games you’re playing are fair.
Provably fair gambling is unique to cryptocurrency-accepting gambling sites. Provably fair gaming makes is impossible for the casino (or the player) to cheat as the results can be verified later.
Apart from sports betting, any gambling action you take at a casino site requires that a computer comes up with a random number. The action could be a slot spin or a dice roll, so the computer needs to come up with a random slot result or a dice roll result.
The problem in all this is that computers are not random by nature. This leads some players to doubt the results and to claim that the games are “rigged” and a scam.
Different casinos implement the provably fair method in their own way, but basically it gives you a chance to see (verify) that the result was what it was supposed to be and consisted of random elements which both you and the casino couldn’t know beforehand.
Lightning Fast Deposits and Cash Outs
Your deposits and cash outs take minutes instead of days.
Depositing with Bitcoin is a pleasure. Most casinos don’t wait for many blockchain confirmations before you can start gambling, so for all practical purposes your deposits are instant.
Cashing out is equally speedy. Choose to cash out and the money is on your account an hour or two later*. If you’ve ever gambled online with normal money, you understand what kind of a game changer this is. If you deposited with a credit card and cashed out, you’d be waiting for days for your money!
(* At Gambling.io cash-out test the average processing time for cash outs at our recommended gambling sites was less than an hour.)
No Need to Send Passport, ID or Utility Bill Scans
Depositing, playing in and cashing out in Bitcoin means that you don’t need to send identity verification documents to the gambling site.
When you deposit at an online casino with a credit card and later cash out, you need to confirm your identity, most often by sending both ID (passport, driver’s license) and a utility bill scan. This step is required for preventing credit card fraud.
However, when you deposit and cash out bitcoin, there is no need for identity verification. You had access to the bitcoins you played with, that’s everything the casino needs to know.
The fact that no verification is required is a MASSIVE boost to your privacy and personal safety. Think about it. All online gambling sites have hundreds of thousands of scanned copies of people’s passports and other ID documents. I don’t think I’m being paranoid, when I say that it would be naive to think that those documents never end up in wrong hands.
No Crazy Country Restrictions
It’s your money. Do what you want with it no matter what your restrictive government tells you.
Many countries have restrictions on internet gambling. These restrictions vary from slightly annoying to making it straight-up impossible to enjoy a slot spin in the privacy of your own home.
By playing in Bitcoin you can circumvent any restrictions.
Many countries (Norway, Netherlands) make it difficult for players to deposit. With Bitcoin this is not a problem: depositing is free, easy and fast (as is cashing out).
Some other countries claim that legally operating foreign gambling sites can’t accept players from this country. This makes most online gambling companies to forgo accepting bets from players based in USA, Netherlands, France, Spain, Italy, Brazil, etc.
Play in Bitcoin and you’ll find out that the casinos are much more accommodating. Bitcoin-accepting gambling sites are more likely to accept players from any country in the world.
(Tip: If the website says you’re not accepted, either use a VPN to change your country. If all that isn’t enough, you can always use a country-hiding VPN together with Bitcoin to play at any bitcoin casino site regardless of where you are. It may hinder your chances of getting a bonus though, as the bonuses are limited to one per IP.)
When you use a VPN the casino will never know (or care) where you’re from. This is because depositing and cashing out Bitcoin doesn’t require an ID or proof of address unlike using a credit card.
Your Individual Bets Don’t Appear on the Blockchain
Your individual bets don’t appear on the blockchain, keeping your gambling private.
Privacy is the name of the game when you play at an online casino or a sportsbook in bitcoin. You don’t need to register or to provide any identification to the gambling site and even your individual bets are private.
When you play at a bitcoin-accepting gambling site, you are shown the address of your personal gambling account. Transfer money in to get started. Then when you make wagers, it’s not recorded on the blockchain. Intead, the gambling site keeps track of your wins and losses. Finally, when you cash out you can transfer the money to any bitcoin address.
So from the outside all this looks like that money went from one bitcoin address (your wallet) to another (the gambling site). Then a little later yet another Bitcoin address gets an incoming transfer (where you cashed out to).
All the bets you made are not public knowledge. And thanks to how Bitcoin works (you cashed out to a new address), it’s impossible for anybody to say how well you did with your gambling.
VPN for Totally Anonymous Online Gambling
Using a VPN provides anonymity. It’s also often a requirement for enjoying online gambling.
Using a VPN, virtual private network, is an effective method for hiding who you are and where you’re from. In a nutshell VPN is an encrypted connection between your computer (or phone or tablet) and a private server, which in turn then connects to the website you’re visiting. This whole process is done completely automatically by VPN software.
VPN is often used by people who wish to remain anonymous online. Sometimes the reason for anonymity is ideological, sometimes it’s simply practical: people like to gamble and some countries block gambling sites.
VPN connections are even used by professional gamblers. Asian countries often block betting sites, so a professional sports bettor residing in such a country will simply use a VPN connection to make his bets.
Dive in and Get in the Game!
There’s no better time than now to get into cryptocurrency gambling. The casinos offer huge welcome bonuses and promotions traditional fiat casinos can only dream of. They’re also improving their service and the array of games by day, so you’ll get the best the best possible online casino gaming experience.
We’ve set the site up to get you the best information about crypto gambling, so please read through and pick the casino of your choice. A good place to start is our list of best Bitcoin casinos of 2022.
What is blockchain technology?
Blockchain is an unchangeable, shared ledger that aids the process of tracking assets and recording transactions in a business network.
What is blockchain used for?
All cryptocurrencies are built on their very own blockchain. The main aim of blockchain is to allow digital info to be distributed and recorded but the information can never be edited. So, it is the foundation for an unchangeable ledger that can never be destroyed, deleted, or altered.
When was blockchain first created?
In 2008 a publication of a whitepaper by Satoshi Nakamoto (who was an unknown developer) led to the successful digital implementation of blockchain in which Bitcoin was first proposed as an idea of a blockchain-mediated cryptocurrency.
Are there different types of blockchains?
Currently, there are over 1000 blockchains with four types of blockchain networks:
- Public Blockchains – completely decentralized, permissionless, and anyone can join.
- Managed or Private Blockchains – controlled by a single organization
- Consortium Blockchains – controlled by a group of organizations
- Hybrid Blockchains – controlled by a single organization with a level of oversight by the public blockchain
Does blockchain have disadvantages?
Because transactions are untraceable, blockchain-based technology can be a major disadvantage from a government’s perspective because it can be used for illegal trade and money laundering.
Can a blockchain be hacked?
Although highly unlikely, blockchains can, unfortunately, be hacked when one or more miners gain 51% + control over the mining process during the verification process. When this occurs, it allows the miners to create a fork (a second version of the blockchain) where some transactions do not reflect, allowing the miners to create a different set of transactions on the fork. They can then allocate it as the true version of the blockchain, despite it being fraudulent, which is also known as double-spending. This however is more common on smaller blockchains simply because it is much easier for miners to gain more than half control over smaller blockchains than more complex and larger blockchains.
What is the future of blockchain
As more industries are beginning to incorporate blockchain technologies into their business model, the future of blockchain is undeniably bright. Soon, governments will need to not only recognize but embrace blockchain technology, which will most like lead to more countries accepting it as a legal tender and when this happens, the hesitance of people, in general, will slowly but surely start to evaporate which will undeniably see a massive increase in the crypto market.
What is crypto?
Cryptocurrencies are like any other currency but it exists virtually/digitally and uses cryptography to secure transactions. It also has no regulating authority and instead uses a decentralized system (a blockchain) to issue new units or record transactions.
What is a crypto wallet?
A crypto wallet is either a physical device (like a USB stick) or a program that allows you to send, receive and store your cryptocurrencies. It has two keys – a public and a private key. The public key is used as an address to send crypto to your wallet and the private key is used to access your private wallet.
What is a crypto exchange?
Crypto exchanges are far more user-friendly than crypto wallets. It is a platform that allows you to buy crypto with FIAT, store your crypto as well as trade cryptocurrencies to other cryptocurrencies or conventional FIAT currencies. You will however never have access to your private key as the exchange has full control over this and you will generally need to pay a small fee for transactions, but if you are new to virtual coins, it’s by far the most convenient way of transacting in crypto.
What is an ICO?
Initial Coin Offering (ICO) is a way of raising funds by businesses, often crypto casinos, by selling new tokens in exchange for FIAT or other virtual currencies. It’s a great way for businesses to raise money fast because these projects are not regulated which means businesses don’t need to go through rigorous procedures, usually required by conventional lenders such as banks. On the flip of the coin, it’s equally advantageous for investors because the ICO cryptos are usually offered at very low prices before they start to be traded, which generally means that when they hit the market, they are in high demand, and investors can them sell them at a profit.
Which crypto is the most worthy to buy?
Bitcoin might seem like an expensive choice but you need to remember that it can be fractionalized. This means that if 1 Bitcoin is worth $20K and you want to only invest $20, you are able to buy 0.1% of 1 coin which is then 0,0010 BTC.
Bitcoin is also the biggest crypto asset in terms of market capitalization and is a lot less volatile than other cryptocurrencies plus it is expected to reach above $75K by the end of 2022.
Which crypto is the most expensive?
Bitcoin, by far. Today Bitcoin trades at $19,460.99, Ethereum at $1,072.54, and Tether at $0.9991. As you can see there is a massive gap between the Bitcoin price and the price of its crypto peers.
Where can I buy crypto?
The most convenient way to buy cryptocurrencies is at an exchange and although there are hundreds of these exchanges, it’s always best to use the most popular and established exchanges like Coinbase, Binance, or Kraken.
How do I store crypto?
You can store cryptocurrencies at an exchange or you can use a crypto wallet, which is either a physical device or a program on your computer.
What is the difference between Bitcoin and Ethereum?
Both are cryptocurrencies that operate on blockchain technology but although Bitcoin is only a currency, Ethereum is a ledger technology used by companies to build new programs. And, although most people prefer Bitcoin, Ethereum’s blockchain is far more robust and allows for faster transactions.
How many cryptos are there?
There are over 18 000 cryptocurrencies in existence although not all are valuable or active. If you deduct the inactive cryptocurrencies, you’ll find that 10 363 are active.
Why is crypto popular?
Accessibility is most likely one of the main reasons why cryptocurrencies have seen such a massive rise in popularity over the past few years. There have always been many perks like fast and cheap transactions and increased security but acquiring and trading in crypto was always complicated and out of reach for the every day-man.
Now, El Salvador accepts Bitcoin as a legal payment method, there are more than 300 million cryptocurrency users globally and over 18 000 businesses now accept virtual coins as a means of trading.
Are cryptos a good investment?
Cryptocurrencies are extremely volatile which means that the possibility of large profits is as possible as the possibility of large losses. In May 2016, the price of 1 Bitcoin was about $500 and on 1 June 2022, that same coin was valued at $29 700. That’s a growth of over 5800%.
But there are also other cryptocurrencies, like Luna, that saw a crash of 80% within 1 day, wiping out $200 billion, making the coins pretty much worthless.
Is crypto legal?
Every country has its own rules when it comes to the legality of cryptocurrencies. Some have banned it completely while others are beginning to set up clear laws regarding the trade of crypto. But, in general, the legality of crypto still falls in a grey area which means that it’s mostly not legal, nor illegal in most parts of the world.
Are crypto profits taxable?
Yes, crypto assets are taxed in the same way as FIAT assets and it is the responsibility of the taxpayer to declare all crypto asset gains and losses.
How long shall I hold crypto?
There is no clear-cut rule or suggestion on how long you should hold on to your crypto. Experts recommend holding onto trustworthy crypto, like Bitcoin for 1 – 2 years at least but if you have a currency that fluctuates more, it would be best to keep an eye on the markets.
Can I lose my money by investing in crypto?
Crypto investments are like any other investment. It carries risks and depending on the cryptocurrency you buy, the risks might be higher or lower but there is no guarantee that you’ll make a profit or a loss when you invest in crypto.
Can I protect my crypto?
There are a few tips and tricks you can use to protect your crypto:
- Your passwords should be at least 16 characters
- You should use 2-factor authentication (2FA)
- Don’t make yourself a target by bragging about your 2 BTC investment (for example)
- Don’t fall for tricks, like hackers posing as tech support
- Always check that a URL is correct – scammers create fake sites
Crypto Casino FAQ
What is a Crypto Casino?
A crypto casino is the same as any online casino but instead of only accepting FIAT as a payment method, the casino gives you the option to deposit and withdraw using cryptocurrencies.
Do all crypto casinos have a license?
Most crypto casinos have a license, most notably from Curacao but there are crypto casinos that don’t have a license at all, which is not entirely legal, nor illegal but it’s always best to play at a crypto casino that is licensed because this means that the casino is regulated and that it needs to adhere to legislation that ensures fair gameplay.
How do I sign-up at a crypto casino?
The great thing about Crypto Casinos is that you can sign up anonymously. You generally need to supply an email address and password and there is no need to supply your name, proof of identity, or address because when making crypto deposits and withdrawals, all transactions are anonymous.
How do I deposit with crypto?
After you’ve registered your account, you simply need to choose your preferred cryptocurrency and you’ll immediately get your own wallet address that you can copy and paste to make a deposit. Crypto deposits are generally instant and should reflect in your wallet within a few minutes.
How do I withdraw in crypto?
It’s as easy to withdraw as it is to deposit. You need to go to your wallet, select withdraw, enter the amount of crypto you want to withdraw, add your personal crypto address, click the withdraw button and that’s it. Just note that there is usually a minimum and maximum withdrawal amount at crypto casinos.
In which cryptocurrencies can I deposit?
This depends on the crypto casino. Some casinos only accept Bitcoin, for example, while other crypto casinos give you the option to deposit and withdraw in more cryptocurrencies. The most common cryptos accepted by online casinos are Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Dash (DASH), Monero (XMR), and ZCash (ZEC).
What if I use the wrong address, what happens to my money?
First of all, there is no need to use the wrong address because you simply need to copy and paste the address but if this, for some reason happens, you’ll need to contact the customer support team of the relevant casino to find out if they are able to assist you in getting your crypto back.
Can I lose my money in a crypto casino?
When you play at a crypto casino, it works exactly the same as playing at a FIAT casino. There is no guarantee that you will win, keep or lose your money, so never spend more than you can afford and always remember to play responsibly.
Are crypto casinos a scam?
As in any industry, you’ll get good companies and bad companies and in the world of crypto gambling, it’s no different. The first thing to do when you land on a crypto casino site is to check whether the casino is licensed. If the crypto casino has a license from a reputable gaming commission, it means that the casino is regulated, legit and safe.
What are the advantages of playing at a crypto casino?
Crypto casinos have much lower minimum deposit requirements or sometimes even none whatsoever and deposits and withdrawals are generally instant. Another massive perk is that thanks to blockchain technology, crypto casinos have enhanced privacy and security. You’ll also find more innovative and lucrative bonuses and you can also play provably fair games when you play at a crypto casino.
What are the disadvantages to playing with crypto?
Cryptocurrencies are extremely volatile and various factors can make it fluctuate in a short period of time. The legal status of crypto is also still very uncertain because many countries have not imposed any regulations which might scare some players off plus these virtual coins are still seen as a new concept to many and not as a trusted way of trading.
Are there many casinos that accept crypto?
Around 10% of all payments at online casinos are estimated to be with cryptocurrencies but the market is steadily growing and more and more casinos are beginning to accept this new payment method.
Can I play slots with crypto?
Yes, absolutely. Slots are the most common and popular game at crypto casinos and usually take up the majority of space in the gaming library. Crypto slots are also usually provably fair which is an algorithm that checks and verifies the slot’s fairness towards its players.
What is a Casino token?
As online casinos are becoming more and more focused on the adoption of cryptocurrencies, some are even creating tokens of their own. These tokens are not the same as crypto coins (Bitcoin, Ethereum, and Litecoin, for example) and are on secondary markets but it gives exclusive benefits to players that use these tokens at the casino.
How can I use my casino token?
Every crypto casino has its own benefits when using its native token which can be used to play games, receive promotions, tip, bet, for network fees, faster and easier withdrawals, and much more.
Do all casinos have their own token?
No. The concept is relatively new and there are only a handful of crypto casinos that currently have their own token but the trend is rapidly growing and it’s most likely that more and more casinos will include this benefit in their portfolio in the future.