5 Tips for using Bitcoin in online gambling

By now, everyone is probably familiar with Bitcoin, an online cryptocurrency of high value. The currency has also been used for online gambling since 2013, but the real value of this concept became known only a few years ago, when the currency rose to its highest value.

Note: We must point out that you need to choose a casino that is in possession of a Dutch license. At the moment it is not yet known if it is allowed to deposit with cryptocurrency. So be sure to inform yourself about the situation at this time.

Bitcoin may have dropped in value slightly since then, but interest in this currency is as high as ever. Bitcoin can also be a nice option for gamblers. Not only can it be fun to gamble with, but its value fluctuates in such a way that the value of your account can increase dramatically by the week. What 5 secrets about Bitcoin should you know as a gambler?

Bitcoin is not a scam, it has real value

Bitcoin is intangible, and therefore does not seem real. Nevertheless, this digital currency is real. In fact, its value is significant compared to the currency we use to pay today, the euro. Big banks are trying to keep Bitcoin small by downplaying its value, but this has little effect as yet. For many people, the Bitcoin is a nice investment and at the same time a currency that has already proven its value.

Moreover, several banks have already shown interest in the valuable Bitcoin. This means that the Bitcoin is likely to maintain its value or even experience a growth spurt in the future. Interesting news for people considering gambling with the Bitcoin.
The route of the Bitcoin is unknown to everyoneThe route of the Bitcoin is unknown to everyone

Your bankroll can increase dramatically in a short period of time

Are you already gambling with Bitcoin or planning to do so? Well done, because your bankroll can get a huge boost within a short period of time. The year 2017 was an absolute peak year for Bitcoin, as in this year its value rose from $11,000 to $20,000 within a few months. For many players who were active within a Bitcoin casino at the time, this meant cash! Take a look at the following example for a representation of the impact of that growth:

  • Early December BTC value: $11,000
  • Mid-December (peak) BTC value: $20,000
  • Growth of 81.82% in just a few days
  • With a budget of 100 dollars: 81,82 dollar profit
  • Total bankroll at peak value: 181.82 dollars

You didn’t even have to gamble in this crazy month of December in the year 2017, to still receive a free 81% extra value over your bankroll. You definitely don’t see this type of value increase with the normal currencies like the dollar, euro or pound.

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Bitcoin online gambling tips
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BTC is easy to use

Do you already do everything online? Then Bitcoin is easy to use. Basically, all you need is a wallet and your own account at one of the possible Bitcoin casinos. There is a big gap in the market that has now been filled by numerous dedicated BTC casino parties. Is this a safe market? Generally yes, although of course some unknown parties have taken advantage of the popularity of Bitcoin. At the same time, many mainstream gambling sites have also included Bitcoin in their system of possible payment systems.

Bitcoin now also overtaken by other cryptocurrencies

For a while, Bitcoin was the most well-known cryptocurrency, and also the one that showed the strongest growth. However, that time has long since passed, because by now also the smaller currencies are knocking at the door. What’s more, in the past few years Bitcoin has somewhat retreated, whereas a great number of smaller currencies have actually shown a strong growth. Anyway, in the BTC casinos also the smaller currencies are allowed. The nice thing is that the smaller currencies sometimes function even faster compared to the BTC. Finally, smaller currencies often have a lower entry value, since the Bitcoin is currently very high in value. Thus, even people with less money can purchase cryptocurrencies and play at a BTC casino online.

Bitcoin is not completely anonymous

Contrary to the exciting stories, Bitcoin is not as anonymous as we might think. The thought is very nice, namely that the bank is no longer a player standing between you and the casino. However, practice shows something else. Granted, gambling with a Bitcoin no longer requires an extra passage past the bank, but you are not completely anonymous. All your activities can be traced back to a computer through the Blockchain technology, especially with large transfers. If you do want to complete transactions on the Internet completely anonymously, for example to the online casino, choose one of the following strategies:

  • Use a BTC money machine
  • Choose a different e-wallet for each transaction
  • Pay your BTC with a prepaid card (anonymously)
  • Buy BTC from a physical person, whom you track down with an unregistered phone

In any of the above ways, you can still get Bitcoins completely anonymously, because you bypass the whole Blockchain part. Not visible, and still play with BTC at an online casino.