How to Play Casino Games with Bitcoin Step-by-Step Guide

If money makes the world go round, then Bitcoin is what makes the gambling world go round. According to sources, about 50% of all bitcoin transactions are related to gambling. Bitcoin has undoubtedly taken over the gambling world and is now being used massively by gamblers in casinos that allow crypto payments and withdrawals. Despite its growing popularity, bitcoin gambling has not achieved full market adoption, with some people still unaware of its enormous benefits. If you’re looking to learn how to play casino games with Bitcoin, consider this article your ultimate Bitcoin gambling guide.

Bitcoin’s Popularity In Online Casinos

Regarding online gambling, Bitcoin is the biggest celebrity among all the other cryptos. According to research, Bitcoin accounted for 73.3% of all crypto gambling transactions in 2023, giving it a significantly superior market share in online gambling over other cryptocurrencies. These figures are not just an accident or a fluke. Many gamblers prefer to play online casino games with Bitcoin because of its many benefits. So, what exactly are these benefits? Read on to find out.

Benefits Of Using Bitcoin For Gambling

1. Provably fair gaming. Who wants to play in a casino where the house truly always wins? Nobody. Everyone wants to gamble fairly and compete in a transparent environment, but regular online gambling doesn’t allow that fully. The best online casino returns are the slot RTP and volatility. Still, there is no way to see the algorithm at work to know if a random result is authentic. That’s where Bitcoin gambling provides an extra edge. With Provably Fair technology through Bitcoin gaming, you can see and create a seed from your end while the operator’s server provides a hashed or encrypted seed. This makes all results generated by the provably fair algorithm authentic and impossible to hack or manipulate.
2. Instant payments. One of the fastest payment services you’ll get from a crypto casino is Bitcoin payments. Unlike fiat currency transactions that could take up to days to confirm, secure Bitcoin transactions are completed literally in just a bit, the maximum being a few hours. It’s a more convenient way to gamble and enjoy your winnings.
3. Cost effectiveness. Bitcoin transactions are much cheaper than payments with fiat currencies. With fiat payments, gamblers lose a large percentage of their wagering capital to bank fees. Still, the affordable alternative of Bitcoin means gamblers can keep more of their wagers and winnings.
4. Privacy. Does untraceable transaction history sound good to you? If yes, then Bitcoin gambling might just be for you. Gamblers can benefit from Bitcoin’s decentralized nature by enjoying private, anonymous gambling.

Setting Up A Bitcoin Wallet

To start playing with Bitcoin, you need a Bitcoin wallet to store your funds. Gamblers can choose between cold and hot wallets to store their winnings, but whichever you choose, here’s how to get your bitcoin wallet setup:

1. Select the preferred wallet type.
2. Purchase hardware wallets only from trusted retailers and download software wallets only from the official websites of trusted sources.
3. Follow all instructions provided by wallet providers.
4. Store your seed phrase or private key in a secure place.
5. Activate 2-factor authentication security for extra security.

How to Purchase Bitcoin Using Exchanges or Peer-to-peer Platforms

1. Select a cryptocurrency exchange. Choose a crypto exchange with a good reputation, a good Bitcoin gambling security system, and a wide variety of coins, especially Bitcoin. Binance and Kraken are typical examples.
2. Create an account. Before you start buying Bitcoin for gambling, you will be required to create an account and provide info such as your email and a password for your account.
3. Verify your identity. Many reputable exchanges require identity verification with documents such as a driver’s license or a government-issued passport.
4. Deposit funds. Fund your newly created account through your preferred method of payment. Many exchanges accept a variety of methods, including bank transfers, credit cards, and debit cards.
5. Buy cryptocurrency. Go to the trading exchange of your selected exchange and choose Bitcoin and the amount you wish to purchase.
6. Transfer to your wallet. Once your purchase is complete, transfer the cryptocurrency from the exchange to your crypto wallet.

Criteria for Selecting a Reputable Bitcoin Casino

Deciding on what Bitcoin casino to play games at is as important as any other step. You can choose a Bitcoin casino selection from the variety available online. There were over 2000 Bitcoin and cryptocurrency casinos as of 2024.

But how do you know the leading crypto casinos to pick? Here’s how:

• Check the license the casino has.
• Read online reviews from existing and past customers.
• Check that the online casino has good security, such as SSL encryption.
• Check to see if the crypto casino accepts Bitcoin and other cryptocurrencies.
• Look for blockchain casinos with good Bitcoin bonuses and reward programs without extreme deposit requirements.

Step-by-step Guide To Making a Bitcoin Deposit

Your journey begins with your first Bitcoin casino deposit after you have created your account. Here’s how to make your first deposit.

1. Find the deposit address. On your crypto casino account, look for the “Deposit” section and copy the wallet address pasted there for you.
2. Send funds from your wallet. Open your crypto wallet and use the “Send” or “Transfer” option to send your preferred amount to the deposit address you copied.
3. Confirm the transaction. Review the details of the transaction you entered, and when you are sure it’s correct, put in your PIN and password to confirm the transaction.
4. Wait for confirmation. After completing the transaction, you might have to wait a few minutes before it is finalized. It’s a relatively fast process, depending on the cryptocurrency used and the blockchain load.
5. Check your account. Once the transaction is confirmed, your deposited funds should be available in your gambling account, and you can check your balance to confirm.

How to Withdraw Bitcoin Winnings

After your big win, the game might be over, but your journey is not. You need to withdraw your winnings from your crypto casino account. But how do you do that? Here’s how to go about the Bitcoin withdrawal process;

1. Request a withdrawal from your casino account.
2. Input your correct wallet address.
3. Enter the amount you wish to withdraw.
4. Confirm the transaction with your password or two-factor authentication code.
5. Wait for processing.
6. Check your wallet for confirmation.

Tips for Safe and Responsible Bitcoin Gambling

Gambling is fun and exciting, which makes it great, but it also makes it easy to get carried away. Yale Medicine estimates that gambling disorder affects around 1% of Americans who just can’t stop despite the consequences. This is why we always encourage responsible gambling. Here are a few responsible Bitcoin gambling tips you can implement into your Bitcoin gaming strategy to help you stay safe:

• Never chase losses;
• Take a break often;
• Never borrow to gamble;
• Never gamble under the influence;
• Use responsible gambling tools provided by your online blockchain casino.

Since Bitcoin became mainstream, it has improved so many things, from how we spend money to how we bank, and now it’s changing how we play casino games. Bitcoin casino games have brought so much ease, fairness, and speed to the online gambling scene, and anyone looking to gamble much better should try it. Following all the crypto gambling steps in this article will make your experience hitch-free. Remember to always gamble responsibly and maintain safe Bitcoin gambling practices.