Bitcoin and Gambling Make Sense
When it comes to the longest standing killer app for Bitcoin, many will argue that Bitcoin casino gambling has done more for the currency than almost any other application and for good reason too. With it's robust, decentralized code, low payment friction, fraud-proof system, it can save Bitcoin casino operators a lot of hassle. And those savings get passed down largely to their player base. And when the Bitcoin gamblers can save 80% or more off of traditional services while also maintaining financial privacy, speedier transactions and better service you can see why many have shifted away from fiat based casinos to cryptocurrency casinos.
With such good reasons to gamble with Bitcoin, many people who have never used Bitcoin before and are scared of it's seemingly complicated features but love to gamble are stuck with the question of: “Where to buy Bitcoin?” And to that, MintDice will attempt to address the answer.
The best place to buy Bitcoin will be at numerous Bitcoin exchanges that exist out there. It will generally be in your best interest to use some of the biggest and most well known exchanges as they will often have the most types of payment accepted, the best software and will make your life easier. Hundreds of exchanges and trading pairs exist and the exchange that you use will depend on your country of origin and the types of payment methods that you prefer to use.
For access to traditional Bitcoin exchanges, these will typically require you to pair them to your bank account or similar assets so that you can add money to your account. There are a number of Bitcoin exchanges to pick from and a few that you may be interested in signing up for an account with include:
Binance – The world's biggest Bitcoin exchange (MintDice Recommended!)
Person To Person
Meanwhile, if you prefer to go a more casual and local route, LocalBitcoins offers virtually every payment method that you can think of to make your life more simple. Additionally, some users prefer to use LocalBitcoins for it's additional financial privacy that it may offer to some of it's users. However, this Bitcoin convenience as a service usually comes at a slightly higher cost per coin, so you'll need to decide if you want to go the more expensive and easier route or the more difficult and cheaper route with an established crypto exchange.
Once you have purchased your cryptocurrency, the next step is to give yourself some breathing room between yourself and the exchange. Some Bitcoin exchanges track your immediate payments from the exchange which can lead to problems down the road. In order to prevent this from happening, you'll want a Bitcoin wallet. There are many Bitcoin wallet options to choose from and we recommend the Trezor Wallet.
Order Of Operations
The order of operations should look like this:
Your Money → Exchange → Bitcoin Wallet → Bitcoin Casino
If you are lucky enough to win from your Bitcoin gambling, to withdraw is typically the same process, just in reverse:
Bitcoin Casino → Bitcoin Wallet → Exchange → Your Money.
If you follow these steps then you should be all set to do Bitcoin gambling like a pro!
It will be up to you to pick which exchange works best for your situation and country of origin.
You will always want to transfer to your personal wallet first
Play Bitcoin games to your hearts desire and win!
It's as easy as that. And once you've done it a few times it will be easy breezy second nature. Welcome to the future of online gambling.