Online casino hubs that support Bitcoins as a currency and accept payments through the Bitcoin virtual method are called Bitcoin casinos. At first, there were barely a few of them, as it took some time for Bitcoin to become known and its attractions to be recognized by both online gamblers and casino operators. Now, Bitcoins are used daily across the World Wide Web, and there are a lot more gambling venues where you can put your Bitcoins to good use.
There are two kinds of Bitcoin casinos. All casino sites that accept Bitcoins but also remain faithful to a plethora of other payment methods, such as credit cards, e-wallets, prepaid vouchers, and bank transfers belong to one group. In other words, they’ve simply added Bitcoin as an option for their customers to the list of already existing banking methods at their venues, or included it from the start, if we’re talking about recently launched websites. The other category gathers around all gambling sites which are exclusively dedicated to Bitcoin users. At these locations, only Bitcoins are allowed, and no other currency of the banking method can be used for deposits and withdrawals. Since there are many advantages of using Bitcoins, no wonder Bitcoin-only casinos are becoming increasingly popular. Due to reliable security protocols, small or no fees at all and user anonymity guaranteed Bitcoin is a perfect payment system for online casino websites.
How do Bitcoin casinos work? Quite simply, actually. After registering at a casino site that allows Bitcoin transactions, you’ll need to go to the site’s cashier and confirm that you indeed want to use Bitcoin for your casino transfers. Since Bitcoins are completely independent of banks and circulate from one peer to the next, you’ll receive your unique Bitcoin address to use for sending and receiving Bitcoins. Deposits are instantaneous, as long as you confirm the payment, without revealing your identity of course. Withdrawals can also be made to one’s Bitcoin wallet, but these can take a bit more time, depending on the venue. There are no processing fees, as Bitcoins aren’t handled by a third party (bank, exchange, etc.).
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