How to make a Bitcoin deposit, a step-by-step guide 👛
Looking forward to your first Bitcoin deposit on your favorite blockchain-based casino? If you’re doubtful about what you should do for your virtual cash to reach your account and don’t have a clue what to do, this simple step-by-step guide will help you achieve this exact thing. Always keep these rules in mind when you buy and then deposit your Bitcoin from one address to the next, as they will keep you away from scams.
Step 1: First buy the Bitcoins
If you already have your Bitcoins in your private wallet, skip this step. If you don’t, before you deposit Bitcoins in your private account of an online casino you first have to get some Bitcoins using your fiat currency. There are two main ways in which you can do this, rather by direct buying them or by using an online cryptocurrency exchange.
Buy Bitcoins with cash: The first method you can buy Bitcoins with is with cash. Yes, although Bitcoin is an anonymous virtual currency, you can pay for them with fiat currency you own. The way to do this is by going on a site called LocalBitcoins. There, you will find sellers who are nearest to your house, office and so on. Once you find the seller you want and that offers the rate you’re looking for, as well as the amount you’re ready to buy, you will place your order.
After the order has been placed, you will get a bank account where you’ll have to deposit the cash which will basically get transformed into Bitcoins. As soon as you get the deposit sorted, you will receive a small receipt. Use the receipt to prove it to your seller that you’ve kept your end of the deal. Once the seller has proof that you have deposited the money into their account, they will then sell you the Bitcoin to your LocalBitcoin wallet. The virtual wallet will instantly be generated as soon as you request your first transaction, so you don’t have to worry about this.
Buy Bitcoins online: The second method you can buy Bitcoins with is by using an online exchange place. Just like fiat currency online exchanges, Bitcoin exchanges like Binance and KuCoin lets you buy Bitcoins directly on the web by linking you to a seller near you. You can still use the cash payment method to buy the virtual coins but most people simply pay with a card online. There are going to be some exchange fees involved, as well as the fees imposed by the portal itself which ensures a secure environment for the transaction, but nothing major.
Step 2: Find a trustworthy casino
Now that you have the Bitcoin into your new virtual wallet, it’s time to make your first deposit. Before anything else, make sure you’re about to deposit your valuable assets on a trustworthy Bitcoin casino. This is probably the most important step of the process, besides finding a good seller who’s offering a decent exchange rate. You can do this one thing by following a set of rules, from which the most important is to make sure the casino you’re about to play on has the best reviews possible.
To keep this short, you can find some honest reviews about some of the best online Bitcoins casino right here on our website. Simply go to the reviews page, read a handful of reviews that are eye catching to you, see if they’re offering the games you’re looking for and, if the answer is yes, verify the trustworthiness of the place. In general, almost all online Bitcoin casinos reviewed on Provably.com are provably fair and are trusted by players all over the world.
Step 3: Deposit using the casino’s tool
The actual deposit part of this guide is the simplest because all online Bitcoin casinos are made in such a way that they have an intuitive deposit feature on their main pages. All you have to do is to go on the website, find the Banking subpage and then click on the Deposit button. This will usually open a new page where you will have to fill out a few details. You will usually put in the amount of Bitcoin, or by the way any other cryptocurrency the casino is accepting, as well as some other personal details.
After you’re done filling the form, the casino will issue a private address where you will have to deposit the Bitcoin. This is possible either directly or by you manually going to your virtual wallet and issuing a deposit from there. You simply send the amount you want to deposit to the private address of the casino. Once the casino has received your money, they will quickly make them available into your virtual account. From there on, you can start gambling away.
Step 4: Confirm your transaction
Sometimes, it is necessary for you to confirm your transaction on the blockchain. This happens to take a little longer, especially when talking about a larger sum of money. If you’re going to deposit a few satoshis, the transaction will go smoothly and quickly through the blockchain’s ledger. If you want to deposit 1 BTC and up, the transaction will take longer to be verified and accepted on the blockchain. This is a normal process as it ensures both that your Bitcoin is legitimate and the place it’s going to, the casino’s private address, is trustworthy.
Step 5: Be aware of your spendings
The final step of this guide is more of a recommendation. Now that you have your Bitcoins in your virtual account of the casino you’re about to play your favorite games, there’s one important thing to keep in mind. And that thing is, always be conscious about how much you’re going to spend on games of chance. Regardless if you’re on a traditional or a Bitcoin-based casino, we’re still talking about real money here. Which means it is very easy even for the most strict people to fall for the dangerous path of gambling addiction.
Remember to play these games in moderation and mostly for fun, as making a profit out of the good old roulette is an almost impossible task. As long as you’re only playing small sums of money and not using money you can’t afford to lose, you will have a great.