Bitcoin is finally beginning to come into its own as a digital currency, and hopefully the growing pains are now all in the past. As the currency matures, more and more vendors are beginning to accept it as it cements its place in our culture as a viable alternative to traditional currencies. Bitcoin has become especially popular in the world of online entertainment, including in the use of online casinos. If you’re thinking of using Bitcoin, you probably have some questions about it, so we’ve put together a brief guide on Bitcoin and how to use it at the casino of your choice.
Where Can I Get Bitcoin?
You can get Bitcoin from many different places. Most people find that it’s easiest to buy them from someone that they already know. You can also buy Bitcoin from an exchange using your bank account. This is a more secure way of doing business, especially if you go through a big name and well trusted exchange. There are exchanges setup all over the world and you can use almost any currency to purchase them.
Once you have Bitcoin, make sure that you are using a safe and secure wallet. Just like you wouldn’t keep your actual wallet laying out in the open for someone to take, you need to make sure that your digital wallet has the right safety measures associated with it. Wallets can be used on mobile devices and PCs, and you can also purchase hardware meant specifically for Bitcoin storage. Just be sure that you’re following the proper safety protocol in order to protect your money.
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If you are more adventurous, you can partake in what’s called “Bitcoin mining.” This requires special software, and in some cases, special hardware. The basic premise is that in order for Bitcoin all over the world to be safely processed, there is a lot of encryption and mathematical work that needs to be done. By taking part in some of this, you can earn a little bit of the currency on the side, just for having your computer handle some of the workload. This has a startup cost associated with it, but over time it pays for itself. You can use some of the money that you earn from this to fund your casino account, if you wish.
Where to Play?
Many of the top ranked casinos now are accepting Bitcoin. Ignition Casino is one of these. The great thing about using Bitcoin to play at a casino is that not only can you get Bitcoin for discounted prices in some places, but once you create an account and start playing in a real money casino, you can earn bonuses on that. For example, at Ignition, you can earn a welcome bonus of up to $1,000, and then a bonus of up to $100 whenever you refer a friend and they start playing. They’re not the only one that has offers like this, so if you look around, you’re more than likely to find a great place to play and start multiplying your money. Just keep in mind that bonuses are not just free money. You do need to unlock them by making a certain number of bets. Once they’re unlocked, you can withdraw them as you see fit, but make sure you read the fine print on the bonus policy wherever you do decide to play. That’s true whether you use Bitcoin to fund an account or not.
Regardless of how you fund your account, you should always research the casino that you play at before you create and fund an account. You want a place with a good reputation, and you want one that accepts players from your country or area without any complications. Getting your money tied up because of a legal misunderstanding is a huge pain, so check the site’s policies before you begin.
Withdrawing Money
When you’re done playing and it’s time to collect your winnings, different casinos will have different policies on how you can withdraw your money. First, be sure that you’ve completely unlocked your bonus cash. You don’t want to miss out on free money if you don’t need to. Next, you need to figure out if the casino will let you keep your money as Bitcoin, or if you need to convert it to U.S. dollars. Some will give you a choice of what you can do, others will make that decision for you. Unfortunately, there is some volatility here if you stay with Bitcoin simply because the price of the digital currency is still not as stable as the U.S. dollar, the euro, or the British pound sterling. It’s best that you do this step of research before you deposit at a casino just so there are no surprises thrown your way once you’re ready to use your winnings.