While most casinos allow players to test out a few games without depositing real money, understanding how to purchase bitcoin is crucial for betting with this cryptocurrency. There are numerous platforms offering extensive lists and suggestions for reputable bitcoin exchanges and brokers.
With potentially countless options available, selecting a method to acquire BTC can be overwhelming. This guide will educate users on how to buy bitcoin for gambling, and you can discover tips on finding the best bitcoin casinos here.
Bitcoin Exchanges
Thanks to their user-friendly interfaces and comparatively low transaction fees, exchanges are one of the most straightforward methods for purchasing Bitcoin. When buying Bitcoin on an exchange, it’s crucial not to transfer funds directly from the BTC exchange wallet to the casino, sportsbook, or poker room. Bitcoin exchanges in the USA have restrictions, prohibiting gambling-related transactions. Thus, before depositing into a Bitcoin gambling site, users must first transfer their bitcoin to an intermediary wallet.
Bitcoin Brokers
Purchasing Bitcoin through an online broker has become a popular option. Brokers provide a hassle-free way for casual gamblers in the US and elsewhere to acquire bitcoin quickly. For instance, Circle allows US customers to buy digital currency using debit cards, credit cards, or bank transfers. Bitcoin brokers often have their pros and cons. In the case of Circle, benefits include instant bitcoin delivery when using credit cards and easy access for newcomers to the cryptocurrency.
Local Bitcoin
Using a Bitcoin ATM
Lastly, Bitcoin enthusiasts, whether into sports betting, casinos, or poker, can also utilize Bitcoin ATMs (commonly referred to as BTMs). The average fee for BTMs is around 7%, making this one of the more expensive ways to buy bitcoin. Although it’s typically a safe option, visiting a physical location can be quite inconvenient. Some ATMs may require users to show identification, which can raise concerns about anonymity. Additionally, limits may be placed on the amounts that can be withdrawn, as not everyone who plays online has access to this option.
