Introduction:

While Bitcoins have become very popular during the last five years, there are still a large number of people in different parts of the world who have never heard of Bitcoin, a crypto currency that has the code of XBT. Bitcoins have been surrounded in controversy for a number of years as it does not have a centralized authority such as the Federal Reserve.

Bitcoins have also experienced a lot of volatility during the past few years and the currency has fluctuated a lot based on market conditions. However there are a number of online websites and online casinos who have started accepting Bitcoins. Bitcoins do not rely on a debit or credit card, have no middlemen and is recognized only as a virtual currency.

In order to start trading with Bitcoins at an online casino, you will first have to set up a Bitcoin wallet where you can store your Bitcoins. The process can come across as a bit tedious initially as you will have to do a little research online to find a good Bitcoin e-wallet company and then register for the same. Once your e-wallet account is approved, you will then have to purchase Bitcoins either from a Bitcoin exchange, from Bitcoin websites or have a friend transfer some Bitcoins.

Benefits

✓  Anonymous:  Players who want to use their Bitcoins at an online casino must first check and see if the online casino accepts Bitcoins. If the online casino is Bitcoin friendly, players will not have to enter any of their debit or credit card information to make a deposit. All they need to do is enter their Bitcoin information and decide on the amount of Bitcoins they want to transfer. This enables them to keep their identity anonymous at the online casino and also not get any bank statements at the end of the month that lists their transaction at the online casino.

✓  Security: Bitcoins is a very unique crypto currency that is still not part of the mainstream financial processing industry. Most cyber attacks are attempts to infiltrate a website and steal customer’s personal and financial information. Players who use Bitcoins at these online websites are not exposed to these risks since none of their financial information has been entered.   

✓  Fast Processing: While processing deposits and withdrawals at online casinos using e-wallets is a relatively quick process, using Bitcoins is a lot faster because a user does not need to link their e-wallet to the online casino payment page.  

✓  Payroll Management: The value of a Bitcoin changes constantly and hence it is hard to estimate what the real value of a Bitcoin is at any given point of time. Online casino players will still have good control over their casino payroll as they are only playing with Bitcoins and can keep track of their spending easily.

Summary

Bitcoin is a crypto currency that has become very popular in recent times. There are a number of online casinos who are Bitcoin friendly, making it easy for Bitcoin users to make deposits and withdrawals.