Bitcoin is a payment option that’s available to USA players. To be honest, it’s not one of our preferred deposit options but we’ve had enough questions from our USA readers about the process to write about it.
Let’s start with the basics. Bitcoin is an online currency that you buy with real money. Think of it this way: if you’re an American and you were going on vacation to Europe, you would buy Euros with your US Dollars. It’s the same with principle Bitcoin.
Once you’ve bought your Bitcoin, you can deposit at an online casino who will convert it to US Dollars, allowing you to see your casino balance in Dollars like normal while you’re playing roulette or any other game for that matter. Then when it’s time to cash out, the casino will convert your Dollars to Bitcoin and send it to your wallet. From there, you need to convert it back to Dollars and send it to your bank. We have a more detailed description on this entire process and two videos below.
USA Casinos That Accept Bitcoin 26535s
Here are two USA online casinos that accept Bitcoin as a payment method. Furthermore, we have successfully cashed out from both of them using Bitcoin so we know that the process works and that they actually pay out with no problems:
Why Bother With Bitcoin? 6h2v
That’s a perfectly reasonable question and if you’re in the UK, Europe, Canada, Australia and most other places in the world, there isn’t much point. You would be much better of using deposit/withdrawal options such as credit and debit cards.
However, PayPal is not an option for USA players at all and using credit and debit cards is increasingly difficult due to the regulation problems the country has faced for 10 years now. This is why it’s always people from the USA who email us about Bitcoin; they’re the only ones who really need to use it for online gambling purposes.
This is the perfect time for a quick disclaimer: If you’re in the USA and you’re going to play roulette online for real money via Bitcoin, make sure you check the laws in your state and that you’re comfortable with them. While we can offer guidance on the process of using Bitcoin as a deposit and withdrawal method, we are not in a position to offer any guidance whatsoever on the legality of online gambling in the USA.
How The Process Works 692z5p
In essence there are two parties at play here, plus the casino where you want to deposit to and we shall go through each one and why you need it. Keep in mind that there are numerous wallet and currency conversion options available. We can’t comment on all of them, all we can do is give you information on the process we have successfully used to cash out. So here are the two things you need:
Bitcoin Wallet – This is the place where you will send Bitcoin to the casino and it’s where they will pay you when you make a withdrawal. The one we’ve used is www.blockchain.info
Bitcoin Exchange – This is the place where you will deposit real money and convert it to Bitcoin. From there, you will send it to your wallet (blockchain.info or another wallet of your choosing) and from the wallet you will send it to the casino. Then when you make a withdrawal, you withdraw to the wallet and then from the wallet to the exchange. Once it’s in your exchange, you then convert your Bitcoin to real money and withdraw it to your bank. The exchange we have used is www.kraken.com
Sending money from one place to another like this is done via a “Bitcoin Address” which you generate within your wallet and exchange. Each address is unique, over 30 character long and consists of letters and numbers. You should only ever use an address once so each time you want to make a new transaction, you need to generate a new address. There’s no limit on the amount of address you can create so using a new one each time you want to start a new transaction is not a problem, nor is it complicated.
If you’ve never been through this process before and you’re reading about it for the first time, we understand that it can seem very confusing. It was confusing for us when we first started reading about the deposit/withdrawal process too. Here are two videos to help you understand the entire process, step by step. We didn’t produce these videos but they highlight every step so it’s worth sharing them.
How to deposit at Bovada with Bitcoin 1z1147
How to withdraw from Bovada with Bitcoin 64e3n
Further Help 682dr
If you’re still confused, more help is available. On Bovada’s website, they have detailed instructions and videos of their own to guide you through the process. Furthermore, they have 24/7 customer and they’re always just a phone call away. From experience, we can say that they would be happy to walk you through the process and answer any of your questions.
Please that while we have successfully used Blockchain for our wallet and Kraken for our exchange, there are many other options out there. Bovada themselves have a list of options they approve of so it would be for the best if you took some time to look at the different options, the security procedures they have in place and make your own decision.