Why Use Bitcoin for Playing Live Blackjack?

Whilst Bitcoin has been used for illegitimate purposes, it’s not designed for this purpose and nor is it the only reason people use Bitcoin. There are many reasons why people opt to use Bitcoin for online gambling games such as live blackjack and other everyday transactions.

 So, why use Bitcoin for online gambling? Let’s explore some of these reasons.

1. Anonymity and Privacy

Online casinos require their users to provide personal information such as names, dates of birth and addresses to reduce the problems associated with under 18’s and duplicate accounts.

In a world which is driven by data and plagued by data breaches, this disclosure of information to an online casino of all places doesn’t sit well with some people. This is where Bitcoin-orientated casinos come in. These casinos do not require the disclosure of personal information aside from an email address. This enables punters to maintain their anonymity and privacy.

2. Bitcoin is Secure Cryptocurrency is inherently secure as it does not involve any third parties; it is entirely peer-to-peer. Given the mistrust which surrounds traditional financial institutions, especially following the 2008 Global Financial Crisis, some people are reluctant to use banks and avoid doing so where possible. Because Bitcoin is entirely secure and has no personal information tied to it, it is an enticing prospect for online gamblers.

3. Payments are Instantaneous  Another reason people like to use Bitcoin over traditional payments is that currency transfers can take place instantly, no matter where you are in the world. In today’s day and age, it’s unreasonable that you have to wait for days on end before you can access funds. Some countries such as the U.S. use ACH which can take up to five working days. When Bitcoin is used, you get access to money instantly.

4. It’s a Volatile Currency

This can go either way. Bitcoin fluctuates and enjoys major peaks with the occasional troth. At the back end of last year, one coin was worth almost USD$20,000.

By using Bitcoin to place bets online, you are adding to the gambling experience by not knowing whether the value of your winnings is going to go up, down, or stay the same. This adds an extra layer of excitement and entertainment for veteran gamblers who want to get a little more out of their games.

5. Bitcoin is Made for the Digital Age

Traditional banking, credit cards, and bank transfers were not designed for use online. Bitcoin was and is. The huge rise in Bitcoin and general cryptocurrency popularity is a testament to the fact that the inefficiencies associated with traditional banking are no longer acceptable in the eyes of consumers.

By using Bitcoin for gambling online, you are using a robust financial solution which is secure, private, has zero fees, and has been built for the modern day.

How To Use Bitcoin for Playing Live Blackjack?

First, let’s learn how to transfer Bitcoin to the gambling platforms. We have drafted some simple-to-follow steps using the example of Coinbase.com and Blockchain.com to help you get started with fast deposit and withdrawal methods for online gambling. To use Bitcoin for playing live blackjack, you should follow the steps given below.

• Check out Bitcoin wallets and select one
• Buy Bitcoin and select one
• Now you can use Bitcoin to play live blackjack

Step 1

Before you purchase Bitcoin, you’ll need to choose a wallet. You’ll find several wallets on the market. Research your options and read reviews to select one. When you have a wallet account, you’ll be able to store your Bitcoin there. 

While some wallets store your Bitcoin online, others might store them on your device or hardware.

There are some important details to remember when deciding between the two:

Online wallet – Online wallets, also known as cloud-based wallets, are the most convenient type. You can log in to your wallet from any device at any time, and access your Bitcoin or other cryptocurrency was and when you want. The downside to online wallets is that they are less secure than hardware wallets as the private keys are stored in the cloud.

Hardware wallet – Hardware wallets are generally offline, connecting to the internet only occasionally. For this reason, they are not hackable, which makes them the safest and most secure option out of the two. No matter which technology they use, the purpose of a cryptocurrency wallet is to store your Bitcoin.

Since a wallet needs to be easy to use and safe, make sure you read reviews before selecting one.Once you’ve picked a wallet site, you can create a wallet in just a few seconds. And when the wallet is set up, you can send or receive payments right there and then.

Step 2

Now that the wallet is all set up, proceed to purchase Bitcoin. You’ll need a trusted and safe Bitcoin exchange for this. There are several such operators, one being cubits.com which has a simple 3 step process:

• Sign up to www.bitmex.com
• Verify
• Buy Bitcoin using bank transfer, credit card or Skrill

Once you have done this, you can send your bitcoin to your wallet.

Step 3

Now you have Bitcoin in your wallet, you can use it for playing live blackjack. Simply set up your casino account and in the deposit section, add the Bitcoin address and the amount that you wish to deposit.

Once your casino balance contains Bitcoin, you’re ready to play.There are some websites that will give you their Bitcoin address instead of having a Deposit section. In that case, you can make a payment directly to their Bitcoin address.

Websites such as Bovada, BitCasino, MYBCasino, and Vietbet will let you play blackjack with the amount you have entered in your casino wallet.

Keep in mind that some websites have a limit over the money you can spend in their casino in a day. This is to make sure that you don’t make any decisions that you might regret later.

Now, How Do You Withdraw Your Money?

While asking for a Bitcoin withdrawal from a site, you will have to enter the Bitcoin address to which you want to have your cash sent. In the linked Blockchain account, click on the “Request” button and you’ll see other addresses to which you can send the available funds.

This maintains security and anonymity, referring to a different Bitcoin address every time you make an exchange instead of reprocessing addresses that have been used before.

Copy the new address on the blackjack site that you want to withdraw from. Once the Blockchain account receives the request to cash out, the user can hold it for some time, get it deposited to another website, or send the cash out to Coinbase from where it can be moved to a bank account.

Summary

Bitcoin has become the best way of transferring money in a different form from one site to the other. It is a cost efficient method as you do not have to pay large deposit/withdrawal fees. Also, there are no foreign transaction charges when you make credit card deposits.

With this guide, we believe that you can understand how easy anonymous transfers could be and enjoy the advantages of the attractive offers from our partner casino, poker sites, and sports book. Enjoying live blackjack becomes easier when you use Bitcoin. The degree of anonymity and security offered by Bitcoin is far superior than any other currencies and monetary methods.

Many other alternates to BTC are also available such as Bitcoin Cash, Dogecoin, Etherium, etc. Various other cryptocurrencies are also available and are normally accepted in top crypto casinos. While you can use any cryptocurrency of your choice, you need to consider the options accepted by the gambling site of your preference.

While a number of online casinos accept several cryptocurrencies, you’ll need to check their accepted payment methods before you purchase a particular currency.

You can connect a cryptocurrency wallet with your preferred gambling site, making things easier. Making deposits with cryptocurrencies makes online gaming more fun.