CasinoEvolution.com - Bitcoin Online Casino Guide
Here you can learn everything you need to know about the popular cryptocurrency Bitcoin (BTC). You can find out exactly what Bitcoins are and how they work and you can find out why this popular online payment option for US players is better than using some of the other banking methods that are currently available.
We discuss some of the drawbacks and we also discuss how easy it is to convert money to Bitcoin and then back to money again. Right at the bottom of the page we have also included even more important details about Bitcoin online casino gambling in general.
Note: This portal has nothing to do with the "Casino Evolution" casino brand in any way shape or form.
Top USA Bitcoin Online Casino
Frequently Asked Questions
What are Bitcoins and how do they work?
Bitcoins are a particular form of digital currency (or cryptocurrency) that can be used for online transactions between two individuals or between an online consumer and online merchant. Specific encryption techniques are employed to control the generation of units of currency and facilitate the transfer of funds. This system operates completely independent of a central banking system and it is fast becoming a hot commodity among speculators.
Bitcoin is a brand new online currency that was first developed in 2009, it’s a great way for US players to be able to get funds into their favourite online gaming account and BTC has managed to bring the next generation of alternative, reliable and secure online currency into the forefront. However, the Bitcoin currency does not exist in the real world as coins that you can physically touch and it’s not accepted as legal tender. The good news is that you can use Bitcoin to purchase goods such as online casino chips on desktop and on mobile.
Why is Bitcoin better than using other banking methods?
US online casino players tend to have far fewer deposit & withdrawal options available to them, especially when compared to the amount of methods that are generally available to players from most other countries and this is due to the current restrictive US online gambling laws. Bitcoins are now accepted at a growing number of fully licensed US online casinos and this has become the number one payment method for many US players who are unable to use these other methods that are currently accepted at their chosen casino.
Bitcoin can be used to deposit at online casinos and it can also be used to withdraw winnings and this is something that many other US online payment options cannot do (most allow for deposits ONLY). This effective online casino banking option for US players is generally free to use and as well as being extremely easy to use, there are lower transaction fees and the perfectly secure Bitcoin transactions are often processed within the blink of an eye, making it an ideal method for millions of online casino players.
Is it easy to convert money to Bitcoin and back to money?
While the process of converting your money into Bitcoin is relatively straightforward and hassle-free, the reverse process of turning your Bitcoin currency back into to real money is not as straightforward. Here are some of the ways that you can convert your Bitcoin back in to money again. You first need to decide whether you are selling BTC online or selling them in person because each option comes with its own benefits and pitfalls.
The more common option is to sell your Bitcoin online and this can be done via a direct trade with another person (a middle-man enabling the connection). You can also sell them through a Bitcoin exchange or through peer-to-peer trading marketplaces, the latter of which allows you obtain discounted goods with your Bitcoins with people who are looking to get their hands on cryptocurrency with their credit or debit card. The buyer and the seller will link together to complete the exchange.
What are some of the drawbacks of using Bitcoins at online casinos?
Although the Bitcoin payment method is increasing in popularity and becoming a more widely accepted payment method at a growing number online casinos, there is still a limited number of online casinos that do currently accept Bitcoin. It is also a well-known fact that there are lots of online casinos out there today that are either completely unlicensed or they are licensed by what is known as a ‘rubber-stamp’ licensing authority.
The best thing to do would be to try and avoid the unlicensed online casinos at all costs. Although deposits are relatively instant, Bitcoin withdrawals can take up to a few days to be processed and the main reason for this is each Bitcoin withdrawal is processed manually for security reasons. Bitcoin is also an unpredictable currency and therefore the rate of exchange can rapidly vary. When moving against the dollar it’s great for players, but when it moves negatively it’s not so great for players.
More Details About Bitcoin Online Casino Gambling
The Bitcoin cryptocurrency online payment solution is an ideal payment method for those of you who prefer not to use your credit cards at online casinos and it’s also an ideal solution for those of you who prefer not to use any of the other payment methods that are accepted such as e-Wallets/Web Wallets, prepaid cards (like the MST gift card) or money transfer services such as Western Union and Moneygram.
Before you can use Bitcoin at online casinos you actually need to start by obtaining a Bitcoin wallet and there are three main types of wallets including the Online Wallets, the Software Wallets and the Hardware Wallets. Let’s take a quick look at how each method works, starting with the Online Wallets option. These are stored in cloud servers by a third party and this option is ideal for those of you with little or no computer knowledge and for those of you who are new to Bitcoin.
A software wallet will be stored entirely on your own personal desktop or laptop computer, but users are required to back-up their wallet manually. This method is more secure than the Bitcoin cloud option because clouds can be compromised which means that it’s possible to lose the contents of your Bitcoin wallet. This particular method is more ideal of those of you who have more of an intimate knowledge of computers and also for advance Bitcoin users.
Finally, we have the hardware wallets option and this particular form is the most secure of all Bitcoin wallets. To gain access to your Bitcoin wallet using this method requires a specific piece of software and this generally needs to be plugged in to your desktop or laptop using a USB. This wallet also needs to be backed-up manually, but you never have to worry about others gaining access to your wallet unless they happen to have in their possession the USB device that unlocks it. This method is ideal for the more advanced user and especially for those of you who are storing a vast quantity of Bitcoins.
There are lots of options that allow you to purchase Bitcoins, but always make sure that the person you are buying from has a proven track record of selling and solid reputation. You can now use your Bitcoins to play on a wide range of games at numerous trustworthy US online casinos and most of these casinos have some really big progressive jackpots to play for on a daily basis. New players are also often treated to special casino bonuses and other cash incentives simply by using Bitcoin at online casinos.