Lured by the world of online casinos? There is no denying that players are drawn to the world of online bitcoin esports betting sites for the ability to play anytime and that too remotely. With exclusive bonuses, rewards, and a plethora of opportunities to win, online casinos have changed the face of gambling, but in a good manner.
Many licensed and reputed casinos take several payments including cryptocurrency. This makes the prominence of Bitcoin casino attractive to all crypto enthusiasts. Not only bitcoin, but the casinos accept many other prominent cryptocurrencies. This article simplifies the use of cryptocurrency at online casinos.
Sign up for an account at a crypto exchange
The first and pivotal step is signing up or registering at a crypto exchange. If you already are a member, you don’t have to register again. The procedure of signing up is easy and all it requires is – a name, email address, and setting up password.
Most of the exchanges have advanced security and encryption that authenticates the user. Always use an exchange for the transaction that prompts two-factor authentication. This adds an extra layer of security to the account. As there will be a code for everything you try to sign in, it prevents unauthorized access to the account.
Link the crypto account to your bank account
As there are active transactions necessary for converting fiat into crypto, the next step is linking to your bank account. To buy bitcoin, you need to use regular currency (fiat) and hence linking the bank account streamlines this process. However, there are mandatory KYC procedures that you need to follow for successful linking and making the transactions. As soon as this is done, you can start buying cryptos.
Signing up for a bitcoin wallet
The bitcoin wallet is where you store bitcoins or other cryptos. It is similar to a bank account but the difference is that it only stores cryptocurrency. Do proper research before using a wallet. Signing up would require going through some basic verifications and once the filling up of information is done, you are all set and ready to use the wallet. As you create the account, securing your wallet through verification is mandatory.
Transfer crypto to the wallet
Once the wallet is ready, you are all set to transfer the crypto to the wallet. As bitcoin is sent through the blockchain through specific addresses, it helps in making the process of payment easy and simple. The bitcoin address is usually a 26 – 35 alphanumeric character that enables transferring the payment successfully. Often it involves two processes which are:
- Getting the address of the wallet is the first step. It is usually a long combination of numbers and letters.
- Once you have the wallet’s receiving address handy, head over to the crypto exchange and keep the wallet open in another window. Copy and paste the wallet’s addresses and transfer the bitcoin amount.
Once you have transferred the crypto amount to the wallet, you can go ahead and start using it for depositing money for playing.
Withdraw the wins to the wallet
One of the smartest moves while playing in an online casino is not only to keep depositing and playing but also to withdraw the amount that you won. With help of the crypto exchange, you can easily convert crypto like bitcoin into fiat. Hence, the same process is to be used to send the funds back to the exchange.
However, as an online casino player, always remember that there might be a certain fee that the exchange takes. Do read all about it before starting the use of bitcoin for playing at online casinos.
