The UK has so far been lagging behind the US in terms of Bitcoin acceptance. However, it seems like the tide is turning as more and more UK-based Bitcoin casinos are coming online. The bottom line is that it’s only a matter of time till people in the UK are making money from playing Bitcoin.
Bitcoin is the premier cryptocurrency on the market today, used as a means of payment in the digital world. However, despite its enormous popularity, buying Bitcoins, mining Bitcoins, and trading them for real money is still a technical process that can be confusing and difficult.
As bitcoin has become more popular, online casinos have noticed and now offer bitcoin as a deposit method for their customers. It is very beneficial for those who want to remain anonymous, have a lot of bitcoins to lose, or because it is convenient.
Where can I find a Bitcoin casino?
These online casinos are relatively new and therefore can be hard to find. Besides, even if you find a casino that accepts bitcoin as a payment method, you have no idea how secure it is. It is best to use aggregation sites and you will find many options at bestcasinosites.net. One of the best features of these sites is that they provide information on the latest deals and sometimes rate the sites themselves. This should get you into a reliable casino where you can deposit your bitcoins and play without any problems.
What is Bitcoin?
For those unfamiliar with bitcoin, it’s worth providing some basic information. Bitcoin is a decentralized digital currency. They can use it to buy goods and services online, even if governments and central banks don’t support it. Moreover, more and more merchants are accepting bitcoin as a valid payment method for their goods and services. However, the US government still considers bitcoin a commodity and not a currency. One of the most attractive features of bitcoin is the ability to exchange currencies anonymously. Since bitcoin payments are made over the internet, it is an ideal system for exchanging different goods without others knowing. However, the most interesting aspect of bitcoin is its ability to be a fully decentralized currency.
Advantages of using Bitcoin for online gambling
After learning what bitcoin is, you may be wondering why you or an online casino should use this crypto currency.
Autonomy is one of the main benefits of bitcoin for many users and one of the principles of cryptocurrencies in general. It is theoretically possible that users of digital currencies could control their own money more directly than users of fiat currencies. By deciding for themselves where their money goes, users are not dependent on intermediaries like a bank or the government.
Bitcoin has many features that make it unique. One of these features is the complete anonymity of the participants. This is a must for many players who do not want others to know what they are doing.
No bank charges
Cards charge fees, banks charge fees, everyone charges fees for everything. In the long run, this can be frustrating because you feel like your hard-earned money is going straight into the pockets of the middlemen. If you deposit directly with Bitcoin, there are no fees or commissions and only the market rate at the time of deposit matters.
Reduced transaction fees for international payments
With Bitcoin, there are no middlemen so you spend less money on transactions. Players who don’t use US dollars can gain a lot of advantage. Moreover, each bitcoin transfer can be completed quickly, avoiding the inconvenience of approval requirements and waiting times.
While this is also possible for those who fund their account with cash, the transfer is often immediate and hassle-free. In some cases, online banking will not work if you are in a different country than the bank or verification is required. Bitcoin has no such problems. You can deposit right from your phone and start playing in less than a minute.
Since users can only send and receive bitcoins using their smartphones and computers, bitcoin is theoretically accessible to people who do not have access to traditional banking systems, credit cards, or other payment methods. Some countries are also excluded from the international money markets because of crime problems. Sometimes these prohibitions are justified, but they also punish many law-abiding citizens. Since bitcoin is unregulated, anyone can buy, trade and pay for services with it.
How do I fund my Bitcoin account?
Once you have chosen a casino, you need to start the deposit process. Fortunately, this is similar to the way you can use cash. In general, the steps are as follows:
To access the checkout area of the website, log into your online gaming account.
You can top up your account with bitcoins by selecting this option.
The casino will give you a unique address.
Your Bitcoin wallet asks for this address when you select the tab to send bitcoins.
Confirm the transaction by entering the amount.
You can have your money within a few minutes.
There are many advantages to using a Bitcoin casino. It allows reaching those who are otherwise cut off from the financial system and conducting anonymous transactions. However, most people prefer to use bitcoin because they don’t want to pay intermediaries and want the world to know what they are doing.
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