Online casino players have plenty of options when it comes to making deposits or withdrawals. While eWallets like Skrill has been one of the convenient banking methods, several casinos have now introduced Bitcoins as a convenient alternative. Bitcoin was introduced by Satoshi Nakamoto in 2009 as an open source code and since then the digital currency has gone viral.
Bitcoin is a form of digital currency that is accounted for only electronically without any physical or tangible notes and coins. It is issued by millions of people that run software on a network across the globe. Since its introduction it has gained significantly in value where 1 Bitcoin is now currently worth around $920. Many online casinos allow you to add funds to your casino account or withdraw winnings in Bitcoins beginning from as low as 0.001 btc. If you are looking for a convenient banking method you may want to consider the benefits of Bitcoin vs Skrill and other similar eWallets.
How to buy Bitcoin with Skrill
Bitcoin can be purchased via a Bitcoin exchange. There are several exchanges where you can purchase or sell the digital currency. All you need is a debit or credit card or even an eWallet account such as Skrill to make a purchase. To purchase Bitcoin:
- Visit a Bitcoin exchange
- Open an account and log in with your username and password
- Enter the amount of Bitcoin to purchase
- Choose Skrill as the preferred payment option
- The money will be deducted from your Skrill account
The Bitcoins you purchase are stored in a digital wallet with a unique address that allows access to it. The wallet acts as a virtual bank account from where you can send and receive money and make payments to your online casino account.
Bitcoin offers complete anonymity which makes it an ideal choice of payment method in the online gambling industry. Many online casinos and poker sites now support Bitcoins while some only accept the digital currency. Much like a land-based casino where you do not need to register anywhere, all transactions are anonymous.
How to fund your online casino with Bitcoin
To fund your online casino account with Bitcoin you will first need to create an account with a Bitcoin friendly exchange. Once you are set up you can add funds to your casino account. To do this:
- Login to your casino account
- Go to the Cashier and click on the ‘Deposit’ tab
- Select ‘Bitcoin’ as your deposit method
- You will be directed to your eWallet for the transaction
- Enter the Bitcoin address of the recipient casino
- Enter the amount you wish to deposit, and you’re done.
When it comes to Bitcoin vs Skrill, even though each payment method has its advantages, Bitcoin offers several more benefits in terms of ease of use, anonymity, and instant transfers. Just make sure to read the terms and conditions before you choose a preferred payment method.