Setting Up A Bitcoin Account For Online Gambling
Bitcoin is quickly becoming a popular currency at online casinos. The first step in using Bitcoins to gamble with is to set up an account in order to do so. Major online casinos and Poker sites are enticing players to make Bitcoin deposits; especially new online casinos.
The two biggest sites where players are opening Bitcoin accounts are CoinBase and BlockChain. Most players choose Coinbase because the sign-up process is so easy. In general, the first step is to register personal details by filling out a form and submitting a valid email address. The website will then send a new user an email to the address they were given. Users must click on the link in the email to verify that the email address belongs to them and they can access it.
Once the email address has been verified, users are required to submit a phone number they can be reached at. Failure to take this step often leads to a Bitcoin account that is not completely secure and could easily be hacked into. Providing a valid phone number is useful because if a stranger tries to access an account and they don’t know the phone number associated with it, they won’t be able to.
Users must then submit information about their current bank account to the website. When a checking account is linked to a Bitcoin account, users can be sure they will be able to receive their online casino winnings promptly and in full.
The next step in the process is to actually purchase a certain number of Bitcoins. A user’s currency is automatically converted to Bitcoins and the user will find out what the exchange rate is. Users should be aware of the fact that most sites will charge a small fee for the Bitcoins purchase.
Bitcoins must then be placed in an online wallet, otherwise known as an e-wallet. Sites such as Blockchain can be used to do this. It is always free to create an e-wallet account. Each e-wallet is assigned a specific phrase that must be used in order for an individual to claim their account. Once the setup process is complete users are told what the address is for their e-wallet.
Confirmed e-wallet deposits can then be sent to the particular online casino that one uses. When users want to withdraw their bitcoin winnings from their casino account they provide the correct identifying information. Experts recommend that users obtain a new Bitcoin address for each transaction they make using this digital currency. Users can always have an unlimited number of Bitcoin addresses, and this is the best way to keep their money safe.
Bitcoin use is changing the way the online casino industry operates. It is encouraging those who have never gambled online before to give it a try. The security of Bitcoin transactions should assure even the most hesitant player that their money is safe and that online gambling can be too.