Over here, we will discuss the benefits and advantages when you use Bitcoin as a preferred method of deposit and withdrawal from an online casino. The bonus and other promotional features will be identified when you use Bitcoin as your mode of the financial transaction. To make withdrawals from an online casino, you have to visit the banking section and click on the Bitcoin withdrawal button. Select the amount you want to withdraw, which will be revert back to the Bitcoin wallet from where you made the initial deposit.
Bitcoin is a cryptocurrency that was launched on 9th January 2009. In a nutshell, Bitcoin is a digital or virtual currency. You can use it to buy products and services though it is not accepted all over places and many countries have banned it. It is a computer file in a digital wallet app on a mobile device or personal computer. Every transaction using Bitcoin is stored in a public list called a blockchain. There are three main sources of Bitcoin; you can buy it in lieu of real currency, you can accept Bitcoin in return of selling service or product, or create using a computer.
How Bitcoin withdrawal works
After you request a Bitcoin withdrawal, the amount is credited to your Bitcoin wallet. Some casinos allow full or partial funding of your casino account with Bitcoin. Some allow a partial portion of your stake using Bitcoin while you pursue any casino game. There are online casinos that will exchange your Bitcoin deposit of any denomination into casino credits with a predetermined rate of exchange. With those credits given in your account, you can wager on any casino games. Again when you don't pay out, those credits will be converted into Bitcoin at the identical exchange rate, which was used to convert your Bitcoin into Baccarat online casino credits.
Here is a list of casinos which accept Bitcoin
- Red stag casino
- King Billy Casino
- 1XBet Casino
- MYB Casino
- Bovada Casino
- Bet winner Casino
- Ignition Casino
- My Bookie Casino
- Bitstaez Casino
How long it takes to receive Bitcoin payments
One thing you must remember, no matter which online casino you have registered, you will find the time required to complete Bitcoin withdrawal varies from site to site. You have to withdraw in the same method as you have used while depositing, this is due to anti-money laundering rules. The withdrawal requests are subjected to withdrawal processing time.
When you use Bitcoin as a mode of payment, privacy is ensured for both parties; online casino and you. Your information is not shared with any other parties, as no intermediaries are involved in the transaction. No fees are levied in Bitcoin transactions, which is applicable when you use your credit card. Another advantage of using Bitcoin for funding and payout is, it is done instantaneously. If you use another mode of payments, funding is done immediately, but withdraws takes around 2 to 3 working days. But when you use Bitcoin, your digital wallet gets credited instantly.