We talked at length about the benefits of gambling with Bitcoins. But how can players actually buy Bitcoins. You may find tutorials after a Google search, but they depict several different ways and it doesn’t mean they’re answering to the questions iGaming players are asking themselves. We will explain shortly and clearly the way to obtain a Bitcoin below, thanks to a proved an entirely secure method.
Step 1: Creating a Bitcoin address
Let’s start easy with the address. To be able to buy Bitcoins, you need a Bitcoin wallet on a cryptocurrency exchange where your funds will be put. There are tons of competitors out there but Coinbase and Bitstamp are recognized as the most trustworthy exchanges. This wallet will provide a Bitcoin address that you will use later to deposit, withdraw, and transfer Bitcoins.
Step 2: Getting clearances
You will need to provide several personal details for the exchange to allow you to buy Bitcoins. Don’t worry, it is strictly anonymous, as the exchange will never communicate your personal details. The value of Bitcoins resides in its anonymity. Throwing it away would make the currency worthless. Once you do it, wait several weeks for them to proceed with your application.
Step 3: Exchange currencies
Now that your Bitcoin address is set and ready to go, time to buy Bitcoins. You can either do a bank transfer, use a peer-to-peer platform such as Local Bitcoins, or use a credit card on cex.io. You now have a Bitcoin! Or a part of a Bitcoin, depending on the amount you ought. After all, at the time of writing, a single Bitcoin is worth $7000. But as they can be indefinitely divided, it is not an issue.
Step 4: Transfer and Play
Your (part of a) Bitcoin is now on the exchange. The only step left is to transfer some or all of it to your online casino of choice. After you created an account on their website, simply check their Bitcoin address and transfer the amount needed. Your account will be topped up with Bitcoins in a matter of 10 minutes!
We hope that you will enjoy Bitcoin Gambling thanks to this article. To learn more about Bitcoin and how to play on an Online Bitcoin Casino, we join you to contact us, either by filling the form on our website, or directly by email/live chat. Thank you for reading!
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