How To Gamble with Bitcoin

Crypto exchanges are online marketplaces where you can purchase Bitcoin, Ethereum, Litecoin, and other digital currencies using your fiat currency of choice (USD, Euro, AUD, etc.). Some of the top crypto exchanges out there that offer competitive rates for purchasing Bitcoin, include Coinbase, Binance, or Kraken.

It’s easy to sign up with these exchanges. All you need to provide is your full name, address, date of birth, and proof of your ID. These services offer desktop sites and mobile apps with 2-factor authentication to ensure your account is secured.

All you have to do to purchase Bitcoin is deposit funds from your credit card, bank account, or eWallet. We recommend watching the price of Bitcoin closely as you prepare to buy because when you buy low, you’ll stand to earn more Bitcoin as the price increases. But, for small purchases, this doesn’t really matter as much.

Be prepared to pay a small fee for Bitcoin purchases. Crypto exchanges have to make money somehow, so usually each transaction is hit with a small percentage fee, usually less than 1%

After you have your new Bitcoin, it’s time to move it over to a crypto wallet. A crypto wallet is where you store your Bitcoin, and what you use to make deposits at online casinos or sportsbooks. For online gambling, a software wallet is your best option. You can access it on your phone or desktop, and to keep it secure, never share your password or seed phrase with anyone else. Coinbase Wallet, Exodus Wallet, Electrum, and BlueWallet are all good options.

To move your Bitcoin from your crypto exchange to your crypto wallet is pretty straightforward. To move your funds, simply provide your wallet address to your crypto exchange and transfer your Bitcoin. If your wallet address is even one number or letter off, you won’t receive your funds. Make sure to double check!

If you’re using Coinbase and Coinbase Wallet, the process is even more straightforward because the two platforms are already integrated. This is the preferred method for beginners.

Depositing funds at an online casino/sportsbook with Bitcoin is simple. Head to the cashier, select Bitcoin as your deposit options, and scan the QR code they provide. You can then use that to connect your own crypto wallet and make a deposit. And once you’ve used those funds to play slots, place wagers, or spin the roulette wheel, you can head back to the cashier to withdraw your funds the same way!