While the rest of the world tries to figure out exactly what to do with Bitcoin, the gambling industry has taken the bull by the horns. Players have recognised the myriad benefits this unique form of currency brings which suit gambling perfectly. Anonymity, ease of conducting business, low fees, and for the moment no way to tax it. There is one barrier to entry for some new players though, and that is the seemingly complicated nature. It’s not simply a matter of opening an account and typing in card details – there is a little more to it. Fortunately, getting started with Bitcoin gambling is no big deal, and this guide will have you up and running in an instant.
What is Bitcoin?
First a brief introduction. Bitcoin first made waves when it was launched back in 2009. The exact origin story is shrouded in mystery, as is its inventor Satoshi Nakamoto – who may or may not even exist. In a nutshell, Bitcoin is a form of payment that is digital. It is completely decentralised which puts it outside of government control. Its volatile worth is infamous with a value that is constantly in flux. Without getting too technical, it uses blockchain technology which means that every single transaction is publicly recorded and immutable. This has proven a trustworthy system that thousands of people use daily.
Buying and Storing Bitcoin
To get involved in Bitcoin gambling you will need to buy some first. Fortunately, this is a straight forward process that is much easier to do now than it used to be. Most players will sign up with one of the larger, reputable exchanges such as Coinbase where they can select the particular crypto they want. It can be brought with normal currency, usually using a credit or debit card. Once you have bought some Bitcoin, you will need somewhere safe to store it. Conveniently, most major exchanges provide wallets where the coin can easily be stored. For improved security Bitcoin can then be sent to any wallet you like – both online and offline.
Once you have brought your Bitcoin and are happy with where it is stored; it is on to the good stuff – gambling with it! Nowadays there is a wide selection of outlets for doing so, many of which you might not even know about. Major online casinos are getting in on the action, of course. So, players can have a punt with altcoin at the poker table, baccarat, blackjack, roulette and more. Fans of slots are also spoiled for choice with literally thousands of games available to spin using Bitcoin. As well as these traditional gambling methods are a host of newcomers to the scene. Leading the charge are Crash games. These exciting new games are fast, rewarding, and most importantly, fair. For a top example of Crash games take a look at Rocketpot.io, which is one of the more professional and popular options out there. Along with Crash is a stack of dice games, keno, mines, plinko, and more. The great thing about these Bitcoin games is that they have some of the smallest house edges you will find online. Much smaller than what you will find in a conventional casino.
As you can see, getting into Bitcoin gambling is a simple 3 step process of buying, storing, and playing. Not only does using Bitcoin come with inherent advantages. It also opens up a brand new world of exciting gaming opportunities that are just waiting to be discovered. Take some time to investigate these new options and you will amazed at the innovation they offer.