What is Bitcoin?

Edward Miller May 23, 2022

Bitcoin is the original cryptocurrency. It launched back in 2009 and was, at the time, worth less than a cent. Today, one BTC is worth somewhere in the five-digit figures.

what is bitcoin

Online casino players love Bitcoin because it’s an anonymous and decentralized payment system. Transactions are not processed through a bank and are instead shared on a network of Bitcoin owners called the blockchain.

Therefore, your bank account is not directly connected to any casino or third party, making it safe and anonymous. As the largest crypto, Bitcoin offers slightly longer transaction times than some other coins. However, you’ll find free BTC deposits and withdrawals at almost every single crypto casino.

Bitcoin information:

Name:Bitcoin (BTC)
Max number of coins:21 million
Creator:Satoshi Nakamoto

How to buy Bitcoin

You’ll need to purchase Bitcoin before you can deposit it at a casino, although some rare crypto casinos let you buy bitcoin directly from their sites.

Outside of those few casinos, the easiest way to buy Bitcoin is through an exchange or broker. You pay for your Bitcoin using a common bank card or e-wallet. From there, you can keep your BTC in the exchange’s wallet to send to the casino, or you can create a private, independent wallet and keep them there.

Some crypto casinos have an agreement with the exchanges for 1-click transfers. If you have your own wallet, you’ll need to manually enter your wallet’s address each time you want to deposit.

Bitcoin casinos: What’s the difference?

Bitcoin casinos