Bitcoin Casinos: A Beginner’s Guide
If you’ve been with Canada’s Bodog online casino for a while, you’ve probably figured out by now that we love us some Bitcoin. Maybe you’ve already joined that club. Maybe you already know a thing or two.
But: do you know about Bitcoin online casinos? Let’s start with the basics, shall we?
What is Bitcoin?
Bitcoin is a digital currency that can be bought and sold using traditional money. As in, the kind you stash in your wallet. Think of it as online cash that you can only use it in certain places. There’s no way your local supermarket accepts it, but a Bitcoin online casino does (I sure hope so, right?).
So what is it, exactly?
Don’t think of paper cash. A Bitcoin is a computer file stored in a digital wallet. You can send them to other people or spend them in certain places, like online casinos. Every single transaction is stored in a public list, called a blockchain.
Benefits of depositing with Bitcoin
Why should you use them?
- Less fees: You might have to pay a small fee for deposits and withdrawals, but there are none of the steep fees you get from conventional banks.
- Stay anonymous: Avoid ‘the big guy’. Or, any other guy, really. There’s no middle man with Bitcoin. The giver and receiver deal directly. No outside approval needed.
- High security: Think: non-traceable. Your Bitcoin purchases get lost in the wilderness once you spend them.
- Mega easy: You can make Bitcoin payments anywhere you have internet access. If you’re in Canada, that shouldn’t be any trouble. You don’t even need personal info like you do with bank or card payments.
How to get started with Bitcoin
Before you visit an online casino that takes Bitcoin, you need to get your hands on one crucial thing: Bitcoins.
Then you need a Bitcoin wallet and a friendly visit to a Bitcoin exchange.
A Bitcoin wallet is a piece of software that’s used to store Bitcoins, like a bank account.
The most popular ones are BRD, Jaxx, and Mycelium.
The app or website stores the codes and security keys, so it’s easy for you to access.
It’s not all rainbows and sunshine, though. Since it’s an online wallet, they’re unfortunately open to shady business. AKA hackers.
If you want to avoid that sort of thing, you could always get a hardware wallet, which is basically a Bitcoin wallet on security steroids. And believe it or not, there is no known incident of Bitcoin hardware being hacked. AND they’re immune to viruses. (Someone ought to study them – is there a way to bring the wallet into the body?)
So, Bitcoin wallets are winning the internet. Kind of.
A bitcoin exchange is basically a trading station for cryptocurrency.
There are lots out there, but Kraken and Coinbase are two of the most popular. This is where you buy your Bitcoins. You buy them with debit/credit cards, then transfer them to your wallet.
Those are the basics. Let’s dig into how to actually use Bitcoins.
Bitcoin Casino Bonuses and Promotions
That’s the dry stuff out the way, so now it’s time for some fun. There are plenty of online casinos that accept Bitcoins out there, and there are plenty of Bitcoin promotions to try. And there is no conflict of interest to inform you that Bodog – Canada’s most trusted online casino, and, ahem, the fairest of them all – has bonuses and promotions in spades. And hearts. And…
Bitcoin online casinos can be put into the following categories:
- Regular: Basically a standard online casino that accepts Bitcoin. The big plus here is that you get the same range of games as a regular online casino. Which can’t always be said for…
- Bitcoin-specific casinos: These are more limited with their games. They do have one huge perk, though – instant payment. Instead of waiting 48 hours or more like at regular casinos, online Bitcoin casinos payout directly to your wallet. No wait time.
As for Bitcoin promotions, most of them offer the same kinds of Welcome bonuses and Free Spins that the regular casinos do. Unless your name is Bodog, and then you’ll offer bitcoin promotions as vast and free as Canada herself.
Easy as 1-2-3
Bitcoins can be pretty confusing. A lot of people are even sceptical of the entire concept of digital currencies. But honestly, once you try it for the first time, it’s pretty simple.
- Get yourself a wallet
- Visit an exchange
- Play at online Bitcoin casinos and sweep up Bitcoin promotions