As cryptocurrencies slowly pave their way to becoming one of the mainstream payment processes, more and more online casinos accept them as a transaction method. Even though many players are still not familiar with how cryptocurrencies work, they are interested in using them due to the high level of security provided by blockchain technology. The transitions are also extremely fast, which is another huge perk of this method. If you too are drawn to the possibility of using cryptocurrencies for online gambling, check out the following guide that will help you get started.
Open a Crypto Wallet
In order to finance your gaming adventures with cryptocurrencies, you first need to open a crypto wallet where you will store the funds. The process is fairly simple, and it can be compared to opening a new bank account. There are many different options out there, and depending on the currency you choose, you can either go for hot storage where the platform is connected to the internet, or for cold one where the data is stored offline. Once everything is set up, you will only be able to access the wallet with a private key. As long as you do not share the private key information with anyone else, you will have complete control over the account, and no one else will be able to close it or freeze it.
Fund the Wallet
An empty wallet won’t do you much good, therefore you need to load it with the currency of choice. First, you need to buy the currency through one of many exchange platforms out there, and you can easily do so with your credit or debit card. Next, the currency will have to be moved from the exchange platform to your private storage place. The process is pretty straightforward, and the platform will show you how to send the funds to your personal wallet.
Choose a Gambling Site
Today’s players can choose from an incredible variety of online casinos, but unfortunately, not all of them support cryptocurrency payments. Therefore, checking out the payment methods available is the first step to take when it comes to choosing the right operator. As a new player, you may be unsure about where to begin the search, and the best way to be efficient about it is to rely on online reviews where you can find all the best online casinos with Bitcoin and other cryptos on offer. Taking the time to read third-party reviews will help you compare all the top providers based on relevant criteria such as the variety of games and bonuses, the quality of customer support, and more. Also, you can rest assured that you’re sticking with trustworthy platforms that hold proper licensing.
Load the Casino Account with Funds
Once you’ve found an online casino that meets all your gambling needs and you’ve opened an account on the platform, it is time to deposit the funds so you can start playing. In order to do so, you need to go to the deposit page or click the deposit button on the website, and then select crypto as the method of payment. After that, the system will guide you through the simple process of transferring the funds from your wallet to your account. And while you’re at the stage of depositing money, double-check the promotions offered by the casino you selected since you might be able to claim an exciting deposit match reward or some other bonuses.
Stay Focused As You Play
Every time you’re dealing with cryptocurrencies, make sure you’re only making the transactions that you actually need. Crypto transactions are untraceable, so if you complete an unplanned one, you need to know that it cannot be reversed.
Collect the Winnings
Getting to collect the winnings is definitely the most exciting part of the gaming experience, and as a new user, you might be wondering how to do it with cryptocurrencies. After you’ve accumulated the funds within the account, you will need to go through a simple withdrawal process. Once you’ve stated the desired amount, the funds will be transferred to your crypto wallet. As soon as that is done, it is up to you whether you will use the wallet to save up or to make online purchases. Of course, you can also convert the money back into the flat currency that you normally use, and send it to your regular bank account.
If you are looking to stay up to date with only gambling developments, learning how to play with cryptocurrencies is something you should get into. Now that you’ve read all the basic guidelines for this sort of gaming, you are ready to start playing your favourite games and reap the benefits of cryptocurrency transactions at the same time.