How to Buy Bitcoins
The new virtual currency Bitcoin has become very popular on the Internet and people from all parts of the globe use it to buy goods or play at online gambling sites. It has no physical form and to use it online people regularly exchange Dollars or Euros for Bitcoins.
The biggest reasons for the popularity of this online currency are anonymously, fastness of transactions and ease of use. To be able to use it, you need an online Bitcoin wallet to store purchased Bitcoins. Afterwards you can use the Bitcoins to shop online, play online casino games as well as bet on sports. However, make sure you do business with a reputable and safe site that accepts Bitcoins.
If you want to use Bitcoins for online gambling, continue reading to familiarize yourself with what is Bitcoin and how does it work. In addition, learn how to choose a Bticoin wallet and buy Bitcoins as well as how to use them to play online casino games. Last but not least, find out more about the benefits of using Bitcoins for gambling purposes.
What Are Bitcoins?
As already mentioned, Bitcoin is a virtual crypto currency that can be used only on the Internet. It is created and held electronically. People can exchange various physical form currencies like British pounds or American dollars for Bitcoins at websites that deal with Bitcoins and store them at virtual Bitcoin wallets.
Bitcoin is not run or controlled by any government regulator or bank, therefore, many people believe that it is illegal to use or it might get them into trouble. The truth is, Bitcoin is safe to use, it is not illegal and it is “mined” or created by people from all over the world using fair and reliable software designed to solve mathematical issues. The biggest reason for the creation of Bitcoin is to create a currency that is not controlled by a central bank and that runs independently.
To be able to use Bitcoins for online gambling, follow the simple steps explained below:
- Choose a Bitcoin Wallet
- Purchase Bitcoins
- Use Bitcoins to Play Casino Games
Choose a Bitcoin Wallet
Since it exists in the virtual world, you must have a Bticoin wallet account where you will store your Bitcoins. These wallets are cloud or software based. In other words, they allow you to store Bitcoins online or on your computer via download software. We recommend blockchain.info as a safe, reliable and trustworthy Bitcoin wallet.
The site allows you to create a Bitcoin wallet in a matter of seconds and you will be able to send and receive payments in Bitcoins immediately. It makes paying with Bitcoins easy and secure available on your desktop PC and even on your phone.
Once you open a Bitcoin wallet account, you need to buy Bitcoins. This can be done via a safe and trusted Bitcoin exchange operator. One such operator is Bitstamp.net. To be able to buy Bitcoins you need to transfer some money into your Bitstamp account. The deposit can be done via SEPA, wire transfer or some other deposit method. Once your funds arrive, visit the Buy page and click on the Buy Bitcoins button. The Bitcoins can then be sent to your Bitcoin wallet.
Another way to get bitcoins is to buy a Bitcoin gift card. Simply purchase a gift card with Paypal and get it sent to your physical home address. The gift card contains your unique private key so you can redeem your coins.
Use Bitcoins to Play Casino Games
As previously mentioned, Bitcoins can be used at various online gambling sites to play casino, poker or bingo games or to bet on sports. If you are a casino fan, sign up with a reputable and safe Bitcoin casino site and create an account.
Once your casino account is set up, visit the Banking or Deposit page and make a Bitcoin deposit by entering the Bitcoin address and the amount of Bitcoins you want to deposit. You should also consider boosting your initial Bitcoins with a casino bonus and double or triple your account balance. Afterwards, visit the game lobby and choose a game. Use the deposited Bitcoins to place a wager and, hopefully, win.
The Benefits of Using Bitcoins for Gambling
The following are few good reasons why you should use Bitcoins for online gambling:
- Bitcoins are decentralized. They are not controlled by a government.
- They are private. This means that they are not linked to your personal ID information.
- They are also anonymous. Your identity is unknown to online gambling sites since you only provide them with your Bitcoin address not personal or banking details.
- Bitcoins are fast, cheap and secure. Transactions with Bitcoins are extremely safe and secure, there are virtually no fees associated with them and they are processed in a matter of minutes.
Follow our steps above and you’ll be betting with bitcoins in no time!