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When you play casino games on the Internet at online casinos, it is very important to find a suitable and safe banking option you can use to cash out your winnings. After all, you are playing to win real cash and increase your pocket money.
Withdrawing your winnings using Bitcoins is probably the safest option on the Internet to get the money you have won. The virtual currency can be used as reliable banking option at many online casinos that accept it so if you want to play real money online casino games, sign up with a good Bitcoin casino.
Bitcoin allows players to remain anonymous and safely deposit and cash out using nothing but a Bitcoin address to which Bitcoins need to be sent or received. In addition, withdrawing with Bitcoins is fast, easy and comes with virtually no transaction fees. Continue reading to find out more.
How to Make a Cashout from a Bitcoin Casino?
In order to make a withdrawal from a Bitcoin casino like Bitcasino.io, you must have won Bitcoins by playing games as well as cleared out the wagering requirements if you have claimed a bonus. When you request a withdrawal, Bitcoins are sent from your online casino account to your Bitcoin wallet address.
Withdrawals are usually processed immediately and you should get your Bitcoins within 12 hours. In most cases, you don’t have to pay any extra withdrawal fees. It takes only a few mouse clicks to do a withdrawal and the following are the steps you need to make:
Log into your Bitcoin casino account with your username and password and visit the Withdraw tab.
In the Withdrawal section, enter your Bitcoin wallet address.
Ignition Casino Bitcoin Withdrawal Time
Then type in the amount of Bitcoins you want to cash out from the casino.
Bitcoins Only Exit Digitally from Online Casinos
When speaking of Bitcoins as currency, many people conjure up images of physical money. But the truth is Bitcoins only exit digitally or from one virtual Bitcoin address to another. There is not even a physical document that can be downloaded.
In other words, Bitcoins exit virtually in digital form as a record of the transactions completed by the different Bitcoin addresses. However, if you want to reconstruct the balance of a certain Bitcoin address, you have to extract information from the block chain Bitcoins exit in order to get an overall figure.
Why Use Bitcoins to Withdraw from Online Casinos?
There are a couple of advantages Bitcoin offers to online casino fans. When cashing out money with Bitcoin players get the following benefits:
- Transactions are fast
- Transfers are cheap
- Information related to transactions is secure
- Bitcoins are private
Transactions are Fast
Bitcoins can replace some rather antiquated payment methods like bank transfers or transfers made by check. These means of transferring funds take a couple of days to clear because they include many verification procedures. With Bitcoins, you will get your money in no time.
Transactions are Cheap
Bitcoins are free to use although some online casinos may charge you a small transaction fee for withdrawals.
Information Related to Transactions is Secure
This is probably the biggest benefit of using Bitcoins to make online casino transactions. When you use credit cards, for example, you have to enter sensitive information like credit card details and personal info. When you transfer with Bitcoin, nobody is aware who you are because all you have to enter is your Bitcoin wallet address. Therefore, sensitive information is secure.
Bitcoins are Private
Bitcoins satisfy the need of having private transactions. When you use credit cards to make transactions, there is a paper trail that shows where funds were spent. With Bitcoins all that is known is the wallet address or user names to which Bitcoins are sent or received.
All in all, Bitcoin transactions are safe and reliable means of transferring virtual money to and from online casinos. The personal details of players are also secure and private and there are virtually no fees associated with withdrawals.
Bitcoin is a cryptocurrency that was created in 2008. It operates on blockchain technology and is one of the safest ways to send and receive money online. Since the inception of the coin, several online casinos started to accept it as a deposit and withdrawal method. In fact, hardly will you find new online casinos that don’t support the payment method.
In this article, we will talk about how deposits and withdrawals work at Bitcoin casinos. We will also explain the key factors that you need to consider when choosing a casino that accepts the payment method, as well as the pros and cons of playing with Bitcoin. Lastly, we will give a step-by-step explanation of how to get bitcoins and answer some common questions you may have about the payment option. Let's get started.
How Do Deposits Work?
Before you can use bitcoin to fund your casino account, you need to have a crypto wallet and buy some BTC. We'll explain the process of getting bitcoins later on in the article. Once you have some bitcoins, log in to your casino account and click on the “Deposit” button that usually can be found in the “My Account” section.
This will redirect you to a page where you can see the full list of the deposit payment methods that the casino supports. Here, choose Bitcoin as your preferred mode of payment, and you should see a unique web address for your account.
The next thing is to head to your bitcoin wallet and send the amount of bitcoin you want to deposit to the unique address. Processing of deposits made via bitcoin takes only a couple of minutes at top online casinos. Once the operator processes your transaction, and it reflects in your casino account, you can start using it to play your preferred games.
How Do Withdrawals Work?
Withdrawing winnings from an online casino through bitcoin is pretty straightforward. Once you log in to your casino account, head to the cashier section and click on the “Withdraw” button. This should take you to a page where you can see all the withdrawal methods that the casino supports. Here, select Bitcoin as your withdrawal method and specify the amount you wish to withdraw.
After that, go to your bitcoin wallet, copy your address and paste it in the field on the withdrawal page. You can then click on Withdraw/Complete to finalize the withdrawal transaction. Top Bitcoin casinos process withdrawals within a couple of hours.
Are There Any Extra Fees?
One of the good things about using Bitcoin as your payment method at online casinos is that you will incur fewer fees. In most cases, you can send bitcoin from your wallet to an online casino without paying any transaction fee. However, we suggest that you should check with your wallet provider to see if transaction and maintenance fees apply.
It is also possible that an online casino you choose charges a fee for processing deposits and withdrawals made using the payment method. If that is the case, you can find information about the fees on the banking page or the terms and conditions page of the casino. If you cannot find the information there, you can contact the customer support of the casino to ask if processing fees apply.
How to Find Casinos That Accept Bitcoin?
As we stated earlier, several online casinos accept bitcoin as their payment method. However, before you choose any of these casinos, there are some factors that you should check. The first is the licensing of the casino. Ensure that the betting site is operating legally and has a license that is issued by a reputable regulatory body.
Besides that, you should consider the selection of games available at the casino. The best Bitcoin casinos work with leading developers to feature games such as video slots, table games, live dealer games, and specialty games. Aside from that, they offer different kinds of bonuses such as welcome bonuses, free spins, and reload bonuses. They also offer quality customer service and provide support to players in several ways.
Pros and Cons of Playing with Bitcoin
There are several advantages that come with playing with bitcoin. First, the payment method offers anonymity, so you can be assured that your personal and banking details are safe. Additionally, bitcoin is a fast payment method, so you don't need to wait several hours before online casinos process your transactions.
Nevertheless, there are some cons associated with using bitcoins to play at online casinos. First, the payment method is susceptible to high price volatility, so its value is never constant. Besides that, there are usually no chargebacks or refunds for transactions carried out using bitcoin.
How Do I Get Bitcoins?
To get bitcoin, you need first to create a bitcoin wallet (say, Freewallet). There are several types of wallets and providers of these wallets. We recommend that you research properly to know the one that will be perfect for you. Once you've created your wallet, you will be given a public key, private key as well as a wallet address. The private key should always be kept secret and never revealed to anyone.
If you want to add bitcoins to your wallet, you can do so by using one of the payment methods that your wallet provider supports. You can also receive bitcoins as payments from another person.
Bitcoin Casinos FAQ
Is Bitcoin a safe payment method?
Withdraw Bitcoin Cash
Yes, it is. The payment method offers significant anonymity and uses several top-notch security mechanisms.
Bitcoin Casino Withdrawal Rules
What is the minimum amount I can deposit at Bitcoin casinos?
Every Bitcoin casino has a specified minimum amount that players can deposit. Grosvenor casino mobile app. You can check the banking page of your casino to know the minimum deposit amount that applies.
Bitcoin Casino Withdrawal Limit
Can I claim bonuses at Bitcoin casinos?
Yes, you can. Top Bitcoin casinos offer players incredible bonuses and promotions such as welcome bonuses, free plays, free spins, and reload bonuses.