Do You Need A How-To Guide on Bitcoin Gambling?

The virtual crypto-currency which we know as Bitcoin was created in 2009. It is a form of digital money. The advantages of this currency are that the only records shown are through the chosen e-wallet. The e-wallet contains the user’s financial transactions and the BTC holder’s account details with numerical and alphabetical digits.

E-Wallet Formats

These are an online service serving as a virtual location for the storage of your crypto-currency.

There are three formats; online crypto-currency, offline crypto-currency, and hardware crypto-currency e-wallets. Using crypto-currency exchange platforms to receive your Bitcoins has several benefits too.

Online E-Wallet

This is an online cloud-based platform which places Bitcoins on an outside server.

Offline E-Wallet

If you have a computer, this e-wallet allows you to install a particular program to keep your Bitcoins on a hard drive.

Hardware E-Wallet

This is when you use devices such as Trezor for your Bitcoin storage.

Bitcoin Gambling

It’s vital that you learn about BTC financial transactions, the ways in which you can acquire the virtual currency, use it and keep it. There are several e-commerce sites which you can use Bitcoins for. This includes selected online gambling websites.

Online gamblers and sports bettors prefer to use the crypto-currency method as Bitcoins have no service charges or delayed payments. Gamblers simply place a monetary figure for their transactions, fill in their e-wallet sequenced numerical and alphabetical digits, and still remain completely anonymous.

In the United States of America, there are no federal laws prohibiting online gambling. However, there are regulatory laws regarding the safe and secure handling of the money received from online gambling websites.

There are four US states which have completely legalized licensed online gambling websites; Delaware, Nevada, New Jersey, and Pennsylvania.

Online Sites Which Accept Bitcoins

There are so many online gambling sites which accept Bitcoins to play gambling games, casino games, sports betting, online lotteries, and spread betting. Two well-known online gambling casinos include StrikeSapphire and BitLotto.

Be mindful of the legalities and risks involved with virtual currency gambling. Have fun but remember to always gamble responsibly!

The Lowdown on Crypto-Currency Gambling

Online casinos boosted by the virtual currency of Bitcoin allow users to play dice games, slots, table games like poker, and sports betting. Internet gambling usually uses credit card systems but not without charging hefty deposit and withdrawal service fees. With Bitcoin, however, this is not the case.

Accepting Bitcoins

Online gambling has very much opened up to Bitcoin with open arms because the transactions are irreversible, instant, safe, and secure. This also allows the users of Bitcoin to remain completely anonymous in their transactions. On the plus side, global trade significantly increases.

It is not a requirement for Bitcoin casinos to be licensed even though many of them already are. Federal governments treat Bitcoins as commodities rather than real money. The US has several laws in place regarding online gambling but the laws differ between states. On the other hand, the United Kingdom and most of Europe are not as strict about the matter.

How To Choose a BTC Online Casino

Firstly, you need to check the casino’s account restrictions as well as whether the withdrawal fees are low or high. Most importantly, you need to do your research and make sure your chosen online BTC casino has a high credibility rating.

You can deposit your Bitcoins from your e-wallet to the casino’s wallet at which point your account will be credited. Withdrawals of Bitcoins are done in increments to decrease withdrawal fees.

BTC Provably Fair Games

Provably fair means a game’s fairness is verified with the integration of a cryptographic record. This refers to novel block-chain games. Examples of these kinds of games include Dice, Satoshi Mines, table games, sports betting, and slots.

The Dice game is not referring to an actual dice though. It’s a bit more complex but fun nonetheless. Satoshi Mines is based on the Minesweeper game.

Online Casinos with Provably Fair Games

There are so many online casinos which offer these kinds of games. A few of these include FairProof, Coinroll, BitBet, PrimeDice, BitVest, and BetMoose.

Always remain vigilant about phishing and scam sites which can disguise themselves really well. Follow the guidelines we’ve provided so as not to fall into the trap of fraudulent activities.

A New Pocketbook – The Bitcoin Wallet!

Bitcoins are digitally stored in a virtual location such as an e-wallet. E-wallets can be defined as either hot or cold. Online e-wallets are referred to as hot as these are for short-term storage only as opposed to offline e-wallets which are cold. Cold e-wallets are generally used for long-term storage only. These are secure but not very practical.

Three Online E-Wallet Types

You can either get a web, mobile or desktop e-wallet. Each of these has their own merits.

Web-Based E-Wallet

This is very convenient but not ideal when storing large amounts of money. An example of this e-wallet is blockchain.info.

Mobile E-Wallet

Quite similar to a web-based e-wallet except it is used on mobile devices like smartphones and iPads. An example of a mobile e-wallet is Airbitz.

Desktop E-Wallet

A desktop e-wallet provides extra security as it also has a backup drive. An example of a desktop e-wallet is Electrum. However, in order to secure all your personal information and funds from malware software, be sure to regularly update your virus protection.

Offline E-Wallets

This refers to hardware used as an e-wallet. It is very secure and convenient. The high security of this e-wallet is due to transactions only occurring when you are online. As soon as you are offline and no longer transacting, the e-wallet is disconnected. Hardware e-wallets are fantastic for medium to long-term storage of your funds.

Other Crypto-Currencies

Yes, there are actually other types of crypto-currency out there. Some people just have certain preferences as opposed to Bitcoins. These virtual currencies include Ethereum, Dogecoin, Litecoin, Dashcoin, Monero, Peercoin, and many others.

Reputable BTC Casino Characteristics

If you’re unsure about which Bitcoin-friendly online casino to choose, there are few things to keep in mind. The casino should have a wide variety of games, an operations license, zero deposit fees, instant withdrawals, and reliable bonus structures.

It is advisable for day to day BTC transactions, you’d be best suited to use a web-based solution due to it being user-friendly. If you do infrequent transactions, a hardware e-wallet is perfect for you!