If you are new to Bitcoin casinos, you are in the right place! This is my guide on how to start playing in no time – A Beginner’s Guide to Bitcoin Casinos 2021!
This is a guide directed for beginners. You probably know just something about Bitcoin and would like to try Bitcoin casinos. But there may be some things you would like to confirm before starting. This guide includes all you need to know about Bitcoin casinos explained step-by-step:
- How to get Bitcoins using a safe Bitcoin Exchange?
- How to pick a Bitcoin wallet and transfer the Bitcoins to your wallet?
- How to choose a Bitcoin casino?
- How to deposit Bitcoins to the Bitcoin casino of your choice?
- How to withdraw Bitcoins back to your Bitcoin wallet?
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1. Choosing a Bitcoin exchange
First you need to get some Bitcoins. You can exchange your Euros, US Dollars or other regular currencies to Bitcoins in Bitcoin exchanges online. There are many different of them and some of the most popular and safest ones are listed here:
Personally I have used Kraken and Bitstamp, but Coinbase is also a very good choice.
Coinbase was founded in 2012 and is based in San Fransisco, USA. Coinbase accepts all debit or credit cards. You can also transfer regular currency from your bank account. Coinbase accepts SEPA payments inside the EU. Personally I have no experiences with Coinbase, but it should work very well according the feedback on cryptocurrency forums.
Kraken is also a US based exchange founded in 2011. After 2 years of testing and development, the exchange was opened in 2013. Kraken offers deposit options with bank or wire transfer via SWIFT or SEPA payments. Kraken however doesn’t offer credit card deposits. Kraken has a great support over numerous cryptocurrencies and has very low fees. That’s why Kraken has been one of my favourite Bitcoin exchanges for a long time.
Bitstamp is a Bitcoin exchange based in Luxembourg, Europe and the UK. The company was founded in 2011, so Bitstamp has also a long history behind. Bitstamp supports all credit cards, international wire transfers and SEPA bank transfers in the EU region. I have also used Bitstamp and it has a really easy to use interface as it doesn’t support too much different cryptocurrencies.
Next up I will show you how you will get your first Bitcoins from Bitstamp.
How to buy Bitcoins from Bitstamp
Here are all the steps you need to take to buy Bitcoins from Bitstamp. Even though this example is about Bitstamp, the phases are very similar when using other Bitcoin exchanges like Coinbase or Kraken.
First up, you must create your account to Bitstamp. You need an email and a password.
Security tips when choosing your password:
- Use a long, random password used in nowhere else. The longer the password, the better. I have used random passwords from Random.org. For example a 16 character password with numbers, small and large caps would take about 539886407674 years and 11 months to crack, which should be enough.
- But for example 8 character password with only small caps needs just 1 minute and 13 seconds to crack, which is important to be aware of.
- Store your password in a safe location. Some people like to store their passwords only on paper, which is safe from hackers but has of course other risks if somebody will find your note. But that’s up to you to decide. Having a long, strong password is a very good start!
- Also activating 2-factor authentication (2FA) is a very good idea. This will add a lot security as you must use your mobile phone in addition to your username and password. Remember to back up the 2-factor backup keys in a safe place in case your phone gets lost or you change it.
After opening your account and verifying your email with clicking the link there, you need to enter your personal details. Bitstamp needs your name, address and some KYC information like an image of an ID or a passport.
Credit card payment at Bitstamp
The easiest way to get Bitcoins at Bitstamp is to make a credit card payment. The credit card deposit screen looks like this.
Basically will make an instant buy that converts straight to the cryptocurrency you like with the best exchange rate at the moment.
You can pick for pre-set amounts like 100, 250 or 500 USD/EUR or set your own amount. This is really easy and works like a charm.
Instead of the credit card payment you can also try a bank transfer.
Bank transfers at Bitstamp
If you don’t want to use a credit card, you can also make a bank transfer to Bitstamp. This needs a bit more attention as you must be very careful to enter the right details to your bank transfer.
This method usually takes 1 day, but sometimes my transfers have gone through in few hours if you made the payment early in the daytime.
Here are some screenshots how this payment method looks like at Bitstamp.
Be really careful when making the payment, especially the message written in orange must be included.
NOTE! Don’t take any payment details from these screenshots as the details may have changed. So take the details from your Bitstamp screen when making the payment.
Making the order to trade Euros or US Dollars to Bitcoins
If you made the bank transfer, you must trade your regular currency to Bitcoins. Here’s how it’s done on Bitstamp.
Go to the Markets in the menu. The easiest way is to make an instant order. In this order type you must only specify how much Euros or US Dollars you want to spend. Then the order will be made with the present exchange rate. There is a small fee in the trade like in all cryptocurrency exchanges.
If you want to be more specific with the Bitcoin exchange rate, you can try the Limit order. In this order type you must specify how much Bitcoin you want to buy and at a what buy price.
If you click the buttons 25%, 50 % etc. the most recent buy price will appear to the box like in the image below. You can also see the present buying and selling orders for that moment.
When you set the limit order, if somebody wants to sell Bitcoins at that price, a deal has been made and you own now Bitcoin.
When your order has gone through, you can check your Bitcoin balance from Account -> Overview.
Now you should be a brand new owner of fresh Bitcoins! Next up, I will give you some tips for choosing your Bitcoin wallet.
2. Choosing a Bitcoin wallet
Usually Bitcoin exchanges don’t allow you to transfer Bitcoins to a Bitcoin casino. Of course it’s possible for you to succeed in that, but my recommendation is to transfer the Bitcoins first to your own Bitcoin wallet.
When using a Bitcoin wallet, you are the only one controlling the Bitcoins. So in case there is a security breach on a Bitcoin exchange (very unlikely, but possible), your Bitcoins will be safe if you transferred them to your own Bitcoin wallet.
There are a huge amount of different Bitcoin software wallets (meaning they work for example on your iPhone or Android device) and also hardware wallets (they need a special usb device like Ledger Nano S which I use). The hardware wallets are a bit more complicated to set up and use, so I will be concentrating here on the best software wallets.
Best software Bitcoin wallets for iPhone and Android
Here’s a list of the most popular Bitcoin wallets for iPhone and Android:
- BRD (Formerly Breadwallet) – Works in iPhone and Android and I have used this for years. Works usually very well. BRD can be found on App Store and Google Play.
- Mycelium – Works in iPhone an Android and can be found on App Store and Google Play. Personally I haven’t used Mycelium, but it seems to be a good, safe and popular choice when I did some research.
- Jaxx – Works in iPhone an Android and can be found on App Store and Google Play. I haven’t also tried Jaxx, but it seems to be working also really well.
As I am really familiar with BRD Bitcoin wallet, I will be concentrating on using BRD in this article.
BRD Bitcoin wallet for iPhone and Android
This is the software wallet I have been using for years and BRD (formerly Breadwallet) has usually always worked great. It can be found for iPhone or Android phones.
When you launch the app for the first time, you need to create a 6-digit passcode. You can also use the face recognition to access your BRD account.
What if you lose your phone or you buy a new phone? No problem! When creating your BRD account, you must write down a list of 12 phrases. This combination serves as a backup seed for your BRD account and if that list is written down somewhere safe, you can always restore your BRD account and Bitcoin with that list.
Usually BRD has worked fine and I haven’t had any major problems. One negative side is that sometimes syncing the BRD account will take a long time when I launch the app after a break. Sometimes the syncing will go through fast. So I haven’t got an idea what is the reason for that, but in general BRD just works.
Next I will tell you how to transfer your Bitcoins from the Bitcoin exchange (like Bitstamp) to your new Bitcoin wallet (like BRD).
3. Transferring Bitcoins to your wallet
Here’s how to transfer your Bitcoins from the Bitcoin exchange (like Bitstamp) to your new Bitcoin wallet (like BRD). In this example I will be using Bitstamp and BRD, but the steps are very similar if you use another exchange or Bitcoin wallet.
First you must check for your Bitcoin deposit address from BRD. You can find this screen on BRD by selecting Bitcoin and Receive.
Copy that long address to your clipboard.
OK, now you have the BRD Bitcoin deposit address. Then go to Bitstamp -> Withdrawal -> Cryptocurrency. From there choose Bitcoin as cryptocurrency and paste your deposit code from BRD to the Destination BTC Address. Address label is not needed, it’s optional.
Enter the amount of Bitcoins you want to transfer and hit Authenticate and withdraw.
Now your Bitcoins should arrive to your Bitcoin wallet BRD soon. Usually you can see the transfer in few minutes and it is fully confirmed in 5-30 minutes depending on the Bitcoin blockchain traffic.
Usually writing down the address one character at a time is not a good idea. It is very likely you make an error at some point. The wisest way is to always use Copy and Paste. I also check the start and the end of the address for few times idiot check to be sure I didn’t accidentally remove the first or last characters of the address.
Nexp up, how to choose a Bitcoin casino!
4. Choosing a Bitcoin Casino
I will cover the how to choose a Bitcoin Casino here shortly. This website is full of tips on how to pick the right one for you, but here are some points where you can start your Bitcoin casino journey!
Bitcoin and cryptocurrency casinos can be divided to a few different types.
Regular Bitcoin Casinos
I call these casinos regular Bitcoin casinos. They offer the possibility to play fully with Bitcoins or other cryptocurrencies. But at the same time they offer huge numbers of regular casino games from standard casino game providers like Pragmatic Play, Booming Games or Yggdrasil.
You can play for example very popular Dog House slot from Pragmatic Play.
These regular Bitcoin casinos offer also a lot of deposit bonuses. Here you can read more about the bonuses. Please note that almost all bonuses have wagering requirements which you have to clear out before you can withdraw your possible winnings.
Great choices for a regular Bitcoin casinos are for example:
These types of Bitcoin casinos are probably the most popular type among crypto players. So if you like a wide variety of high quality casino games, they could be a good choice for you.
Here you can read more about more Bitcoin casinos reviewed.
Provably fair Bitcoin casinos and dice sites
These types of Bitcoin and cryptocurrency casinos are very unique and they cannot be found outside the cryptocurrency world. These provably fair cryptocurrency casinos also have their trusted fanbase.
What you are lacking compared to regular Bitcoin casinos are the amount of games and general casino game quality. But instead you get a very low casino house edge, which is a good plus. On the other hand, provably fair casinos usually don’t have any deposit bonuses to any players.
Provably fair means that all the games can be proved to be fair and totally random. This needs some expertise in computer science and mathematics, but in general it’s always good to know that the games run fair.
Here are some examples of provably fair cryptocurrency casinos that I recommend:
- CryptoGames – Founded in 2014 and offers 8 provably fair games like dice, slot, blackjack, roulette and many more.
- Primedice – Founded back in 2013 it was one of the first Bitcoin dice sites. Offers support to 6 cryptocurrencies and one provably fair dice game.
- Stake.com – Offers 12 provably fair games like Dice, Video Poker, Blackjack, Roulette, Keno, Mines and a lot more!
Casinos that offer only Bitcoin or cryptocurrency deposits
These casinos are somewhat half-Bitcoin or half-cryptocurrency casinos. Casinos like Diamond Reels or Vegas Crest Casino offers only Bitcoin deposits that will convert to Euros or US Dollars right away.
So your casino playing happens with Euros or US Dollars. Some casinos have the possibility to withdraw the regular currencies back to Bitcoins when you want to cash out.
Next step, how to deposit Bitcoins to a Bitcoin Casino.
5. Depositing Bitcoins to a Bitcoin Casino
So how to deposit Bitcoins to a Bitcoin casino? It’s fairly simple.
First go to the Bitcoin casino of your choice. In this example I am using BitStarz, which is one of my favorite sites. Just go to Menu -> Cashier -> Deposit (Bitcoins).
Then you will be presented a screen like below.
There you have your own Bitcoin deposit address (in the image however part of it is blurred). Copy that address to your clipboard.
Then go to BRD or whatever Bitcoin wallet you have chosen.
In the BRD app choose Bitcoin as currency and hit Send. Then paste the Bitcoin deposit address from BitStarz to the part that says To.
Choose the amount of Bitcoins, choose Processing Speed to for example Regular (or any other you wish) and hit Send.
There is no need to put a memo there, that is just for you as a reminder.
In few minutes you should see the Bitcoins in the Bitcoin casino cashier. All Bitcoin verifications should go through in 5-30 minutes depending on the Bitcoin blockchain traffic.
6. Withdrawing Bitcoins from a Bitcoin Casino
Withdrawing Bitcoin from a Bitcoin casino back to your Bitcoin wallet is an easy operation. It’s just like the deposit made backwards.
First, go to your Bitcoin wallet (like BRD) and check your Bitcoin deposit address. That can be found by clicking Bitcoin and Receive.
Click your own Bitcoin deposit address and it will be copied to your clipboard.
Then go to a Bitcoin casino (like BitStarz here). Hit Cashier, find the Bitcoin row and choose Cashout.
Enter the amount of Bitcoins you want to withdraw. Paste your own Bitcoin deposit address (from Bitcoin wallet) to the Address field. Press Request Cashout when you have double-checked everything. Bitcoins should arrive to your Bitcoin wallet (BRD) soon in 5-30 minutes when BitStarz has activated the transfer.
NOTE! If you had a deposit bonus, make sure that you have cleared the bonus by wagering it.
I think now you should know pretty much all of the most important steps on how to play at Bitcoin casinos. Please let me know if you liked this article to the comment field below. And feel free to ask any questions if I missed something!
Sources for this article:
- BitStarz website
- Kraken website
- Kraken page on Wikipedia
- Coinbase website
- Coinbase page on Wikipedia
- Bitstamp website
- Bitstamp page on Wikipedia
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