Cryptocurrencies have been around for over a decade, and they’re still not mainstream. However, this is changing fast as more people discover their potential and the benefits of using cryptocurrencies over fiat currencies. If this is your first time gambling or trying cryptocurrencies to play your favorite casino games at home, this blog is for you. Let this be your guide in using cryptocurrency in gambling.
What Is Cryptocurrency?
You may have heard of the term cryptocurrency, but what is it exactly? Cryptocurrencies are digital currencies that use cryptography to secure transactions and control the creation of new units. It’s decentralized, meaning no single institution controls the network. Instead, it relies on thousands of computers around the world that all agree on its rules (a process called consensus). Cryptocurrency also protects users’ privacy by allowing them to make payments without revealing their identities.
Bitcoin was the first cryptocurrency ever created and remains the most valuable today. Many crypto enthusiasts are also investing and supporting other alternative coins like Cardano, Litecoin, Tether, and Dogecoin.
How Do I Get Cryptocurrency?
Cryptocurrencies are digital, not physical. The government does not regulate them and have no physical form. This means that you can’t hold a cryptocurrency in your hand like cash or gold bullion, but instead, they are numbers displayed on your computer screen that hold value like normal fiat currencies.
The easiest way to get cryptocurrency is through a centralized exchange. These exchanges allow you to buy and sell cryptocurrencies with fiat money (government-issued currency like USD and EUR). The most popular centralized exchanges are Coinbase and Binance.
There are also decentralized exchanges, which do not hold your money in a central location. Instead, trades occur directly between two parties over the blockchain. Decentralized exchanges are still relatively new and not as widely used as their centralized counterparts. Examples of decentralized exchanges include Uniswap.
And to finally buy your crypto, you just need to set up your account on centralized exchanges, complete the KYC, and connect your bank accounts. You can easily navigate on the exchange app whether you want to by from the app itself or from a peer (peer-to-peer exchange). When using decentralized exchanges (dex), on the other hand, you will need to have a decentralized crypto wallet to connect to the app. Note that decentralized exchanges are more complicated than centralized ones. But, once you get the gist of using cryptocurrency wallets, you’ll know how to navigate a dex well.
How To Use Cryptocurrencies For Online Gambling?
Cryptocurrency is a great method of payment for online gambling. They offer many benefits to players, but there are also some drawbacks and risks that you should be aware of before deciding to use them in this way.
Cryptocurrencies offer several advantages over traditional forms of payment:
- You don’t need to give out your personal information when making a deposit or withdrawal from an online casino with cryptocurrency unless the casino itself needs kyc to protect the business and its players.
- You can make payments from anywhere in the world at any time of day or night.
- There’s no risk of hackers stealing your credit card details because all transactions are made on an encrypted database rather than through unencrypted emails or telephone calls (which can easily be intercepted by third parties).
Play Poker And Other Casino Games With Crypto!
Now, how can you play casino games, like poker, with crypto? Here’s a simple guide to help you get started!
Step 1: Sign up at a cryptocurrency casino. There are many online casinos that accept cryptocurrencies, like BC.GAME. This is a great place to start because you can play poker and other games with your Bitcoins, Litecoins or Ethereum.
Step 2: Make sure you have an internet connection and your computer is fully updated with the latest version of Java. If you have any technical issues, please contact customer support.
Step 3: Click on the Play Now button and choose the game you want to play from the available options. You can play any of BC.GAME games for free for as long as you like before deciding whether or not to deposit money into your account.
Step 4: Once you’ve chosen your favorite game, click on it and start playing!
There you have it, a quick guide to using cryptocurrency in gambling. If you’re new to the world of crypto and want to get started with poker or other crypto casino games, we recommend finding an online poker or casino site that accepts Bitcoin deposits and withdrawals. Of course, BC.GAME is at the forefront of casino iGaming, so come check it out!