GambleRoad.com

Free money, exclusive offers, and latest casino bonuses. Unbiased & accurate gambling reviews since 2001

All About Bitcoin Digital Currency

Bitcoin is the leading cryptocurrency, or a digital currency, in the world. The government or businesses do not control bitcoins, which allows you to play with peace of mind at online casinos.

When you make a Bitcoin digital currency deposit, your Bitcoins are converted into your selected game currency (USD, Euro, GBP, Rands, AUD) and the deposit is processed very much like when you deposit via a debit card or an electronic wallet.

How do you acquire Bitcoins?

You buy it from specialized exchange houses that have Bitcoin in stock. Just like gas or oil prices, Bitcoin prices can rise or drop in relation to its demand and supply. Buying Bitcoin (BTC) with funds from your bank requires you to sign up at an online exchange. Once you have created an account at a Bitcoin exchange of your preference, you will then need to deposit funds from your bank account or other method such as a Debit/Credit card, electronic wallet (Paypal for example) and then exchange your funds for Bitcoins.

How do I deposit with Bitcoin digital currency?

Before you consider making a Bitcoin deposit, you must first have a Bitcoin wallet with enough funds.Some of the most popular Bitcoin wallets include companies such as Upaycard, Coinbase, Kraken, Blockchain.info, Cubits or Electrum. These BTC wallets are essentially the Bitcoin equal of a bank account. It gives you the ability to receive Bitcoins, store them and send them to others.
Bitcoin digital currency payments or deposits are made from your choice of wallet application, either on your personal computer or smartphone, by entering the recipient’s address, the amount, and then clicking on send. It’s really that easy.
In the casino world, after you select to deposit, you will be shown a Bitcoin deposit address and a transfer amount in Bitcoin. You must use your Bitcoin wallet to send the requested amount in BTC to the deposit address. The deposit will complete automatically once the correct amount has been transferred.Additionally, and to make it easier to enter our casino’s address, there are wallets that can get the address by scanning a QR code.

How to Deposit, Re-Deposit and Withdraw:

Making a Bitcoin deposit, re-deposit and requesting a cashout  is a breeze. To protect your Bitcoins, it is highly recommended for you to have at least two Bitcoin wallets – one at an exchange (to buy Bitcoins) and one to use as a spend wallet (to send Bitcoins to the casinos).
Creating an account and adding a payment method at the exchange wallets is also hassle-free. You can instantly link your wallet account to a Debit/Credit Card to use for smaller amounts. You also have the option to link your wallet to your checking or savings account, which is better so you can exchange Bitcoin you win at the casino into hard cash and move it instantly to your bank account.
Once your exchange and spend Bitcoin wallets are set up, you will need to complete the following steps.

Simple steps to make a deposit or re-deposit:

  1. Transfer Bitcoin from your exchange wallet to your spend wallet.
  2. Log in your Casino account and navigate to the Cashier.
  3. Click on Make a Deposit.
  4. Click the Bitcoin button.
  5. On the next screen, enter the amount of your deposit in USD, Euro, GBP, Rand or AU$. The minimum deposit in each is 25. Click the deposit button.
  6. On the next screen, you have the option to deposit with your own Bitcoin wallet (such as Blockchain.info, which is better for players in the United States), or your Cubits wallet (For Europe). If you are using a mobile wallet, you can scan the QR code with your phone and the transfer will be automatic. There is a 15-minute time limit to complete the transaction.
  7. After selecting the wallet you plan to use, navigate to your wallet website and transfer the displayed amount of Bitcoin to the displayed Bitcoin address.
  8. Your deposit is added to your account and you are set to play.

Withdrawing your winnings is also simple. Follow these simple steps:

  1. Log in your Casino account and navigate to the Cashier.
  2. Click on Withdraw.
  3. Click the Bitcoin button
  4. Enter the amount you would like to withdraw and the Bitcoin address to send to. Then, click the Withdraw button.
  5. All cashouts are subject to review, but once approved, the Bitcoin will be transferred immediately to your Bitcoin wallet.

Bitcoin Digital Currency Advantages:

  • Bitcoin is private. No third party will have access to your personal and financial information. In addition, you will avoid the usual chargeback issues associated with credit cards.
  • Some bank institutions will deny transactions to and from online casinos and this is where Bitcoin comes in and saves the day. Bitcoin transactions aren’t processed via a bank.
  • Bitcoin deposits are instant. Withdrawals are subject to review and paperwork, but are also fast and secure.

Now you know all about bitcoin digital currency to start exploring!