Bitcoin – A new casino deposit method?
Unless you have been living in a time capsule for the past few years, you will no doubt be familiar with the name Bitcoin, even if not entirely sure how it works. Bitcoin is a virtual currency and works in true peer to peer fashion with no central bank or authority controlling it. Bitcoin can be mined, transferred between individuals and now used as a virtual currency at online casinos. In fact Bitcoin is destined to be one of major innovations in casino banking methods for many years.
The great thing about Bitcoin is that anyone can earn it, use it and tranfer it. All you need is a bit coin wallet – such as Coinbase or Xapo and you are ready to start using Bitcoin.
There are two different ways to use Bitcoin at online casinos. The first is to use an e-wallet payment system such as OkPay to purchase Bitcoin to use at casinos that accept Bitcoin along side other payment methods. Alternatively you can use a specialist Bitcoin casino that processes all deposits and withdrawal in Bitcoins.
Specialist Bitcoin Casinos include :
Satoshibet: This dedicated Bitcoin casino actually gives you free bitcoins to play for real. Every 20 minutes if your balance is 0 you can claim 0.005mBTC. Satoshibet accepts Bitcoin, Dogecoin and Litecoin and unlike most online casinos you can play totally anonymously. All transactions are instant and the casino uses the Provably Fair system of randomness.
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You can purchase Bitcoin through a currency exchange site, you can earn it by doing tasks and visiting websites or through many of the open Bitcoin faucets that exist on the network. At present 1 Bitcoin is worth around $220 so most sites work in bits and satoshis. A satoshi is 0.00000001 of a Bitcoin.
At the moment most Bitcoin casinos are quite basic and the games whilst fair have none of the technological bells and whilsts that exist as a normal online casino. If you want excellent graphics whilst being able to deposit in Bitcoin then try Inetbet which accepts Bitcoin deposits through OK Pay.
