About online casino payment method Bitcoin
Basically, Bitcoin is virtual money. It is the first crypto currency, electronic money, which was created by an unknown programmer (or a group of programmers) under the pseudonym Satoci Nakamoto. This happened in 2009. It was he or they who came up with the specific algorithm and the term “Bitcoin”. Nobody knows where this man (or a group of people) is and what his name is in the real world. He created not only the program but also a special application – purse on your PC containing crypto currency Bitcoin.
The Bitcoin users can provide payments to each other within seconds, to any country and with extremely small fees. In fact, the fee for each transaction (regardless the amount) is just about 0,05 US cents. No wonder there is a saying, that crypto currency is a free choice of free people. Crypto currency is also of interest to investors. For example, back in 2013 within 1 month Bitcoin increased its price from $ 200 to as much as $ 1 000 for a single Bitcoin!
Cryptocurrency Bitcoin has the basic functions and properties of conventional money, inluding:
- Being the means of exchange;
- The means savings;
- You can pay for things with it.
At a Bitcoin online casino you will be able to play your favorite games from Microgaming, Playtech, RTG and other developers any time you want. Any place too, because there are dozens of online slots, table games and other games available for the mobile devices. Basically, iOS Bitcoin casinos and Android Bitcoin casinos are almost as good as their laptop versions. The best thing is that you can not just play, but also win!
With Bitcoin you will not have to wait for payouts. Many casinos that accept this online payment solution also allow withdrawing money with its means. So there will be no long waiting for your jackpot money to be transferred to your Bitcoin account. All the top trusted casinos have been double-checked and they really provide payments! Feel free to choose the casino you prefer, make the deposit and start playing. But do not start with big bets right away, better make small bets at first.
Bitcoin casinos are rare, but many of the leading portals are starting to cater to this particular type of electronic currency. BTCs (bitcoins) are gaining popularity due to their guaranteed security. The house edge in bitcoin games is a little bit lower, which is another reason many people today are warming up to this payment tool.
Bitcoin is most popular among American players. Mostly, because bitcoin gambling doesn’t fall under the category of online gambling, which allows Americans to play freely in specialized casinos. Bitcoin payments can be instant, but the specifics would depend on the type of wallet you use as well as the casino’s terms.
How to earn Bitcoins?
- Online casino players can simply buy Bitcoins.
- They can use the special Bitcoin exchange sites (but please be careful to only visit secure and trustworthy resources).
- Use the online Bitcoin stock exchanges.
- Earn Bitcoins by selling goods or providing services online.
- And finally, you can earn Bitcoins by giving some of your laptop’s or PC’s memory to Bitcoin mining.
What is a bank transfer?
This online casino payment method eliminates the “middle-man” of using e-wallets, allowing you to transfer money directly into your casino account from your internet banking account.
Various types of bank wire transfers are accepted by the majority of online gambling portals and are, in fact, the preferred payment method for most casinos. The reason for this is the extreme security involved in this type of transaction, which minimizes the risk for all parties involved.
However, a large part of this security comes from a thorough identity check, which takes a while. As a result, this type of transaction can take up to 7 days. These transactions also come with the bank fees that can be quite big depending on the amount. Bank wire transfers have a higher popularity rate in the countries where faster and more efficient online payment methods aren’t as easily available.
What is Instant Bank Transfers?
This type of bank wire transfers negates the disadvantages of regular transfers due to the speed of the transaction. The most popular type of instant transfer service for online casinos is Trustly. Under the Trustly set-up, a shopper or customer will not directly contact the bank, instead, the customer will pass the banking credentials and information to Trustly, and the platform will complete the transaction in behalf of the shopper.