Many online casinos now accept cryptocurrencies. Using virtual currency has the advantage of fast payment processing speed and low fees.
As a result, more and more users are using cryptocurrencies instead of credit cards, electronic payment services, and bank transfers.
Here, we will introduce Bitcoin, which is the most major among virtual currencies. Whether you already have Bitcoin or not, learn about the benefits of using Bitcoin at online casinos.
Bitcoin is one of the virtual currencies that exist on the Internet, and is the world's first virtual currency that was born in 2008.
Although it is similar to web money in that it is managed on the Internet, Bitcoin is characterized by having the same value as legal currencies such as yen and dollars.
It is said that there are currently more than 2000 types of virtual currency, but Bitcoin, which first appeared, is very popular among investors and the price is soaring.
Bitcoin is also trusted for its high security features. In recent years, as Bitcoin has become more popular, the number of web services and brick-and-mortar stores where you can shop with Bitcoin has increased. In recent years, more and more online casinos accept Bitcoin.
All you have to do is enter your bitcoin address when depositing bitcoin to and withdrawing from online casinos. There is no need to enter detailed personal information like a bank transfer or credit card.
Online casinos that accept Bitcoin are:
・Bit tilt (deposit only)
・Lucky Niki Casino
・Live casino house
At Bitcasino, you can play casino games with Bitcoin. Therefore, there is no need to worry about exchange rates.
At other online casinos such as Bittilt and Paiza Casino, after depositing with Bitcoin, it will be converted to the specified currency such as Euros, US Dollars and reflected in your account.
When you deposit or withdraw at an online casino with bitcoin, you will be charged a fee. The fee at that time varies depending on the exchange, but in most cases, a cheap fee of several hundred yen is set.
When using bank remittance or electronic payment services, a few percent of the withdrawal amount may be taken as a fee. In that case, the higher the amount, the higher the fee.
Compared to this, Bitcoin fees are set very cheap.
However, when using bitcoins, exchanges incur fees in addition to transactions with online casinos. Therefore, if you are starting Bitcoin only for online casinos, you should also consider exchange fees in advance.
Advantages of depositing and withdrawing Bitcoin
Here are some of the benefits of depositing and withdrawing Bitcoin.
○ Fast deposit and withdrawal speed
The biggest advantage of using Bitcoin is the speed of deposits and withdrawals. If you use electronic payment services or bank transfers, it can take a few hours at the earliest and a few days at the longest.
This is because you need a bank intermediary to use yen or dollars. Therefore, transactions can only be made during bank business hours.
However, in the case of Bitcoin, there is no such central administrator, so you can send Bitcoin at any time, 24 hours a day, 365 days a year. With Bitcoin, withdrawals can be completed in minutes at the earliest.
○ High anonymity
Virtual currencies such as Bitcoin are known for their high anonymity.
If you use your credit card or bank account to make deposits and withdrawals at online casinos, you will have to provide personal information. However, many players are concerned about sending such personal information to online casinos.
With Bitcoin, you only need to enter your address when you deposit or withdraw money, so your account and personal information are not linked. Therefore, it is recommended for those who seek high safety and security.
Disadvantages of depositing and withdrawing Bitcoin
Here are the disadvantages of depositing and withdrawing bitcoin.
▲ The value of bitcoin may drop
Virtual currency is one of the investments and is characterized by large price fluctuations. Bitcoin is a particularly popular virtual currency, so it is highly volatile, and the price can go up and down by hundreds of dollars in a single day.
If this happens, even if you have made a lot of money at an online casino, you may end up with a small profit when you withdraw cash, or even a loss.
The value of Bitcoin is not always the same when you deposit and when you withdraw. So keep in mind that there is always the risk of price fluctuations.
▲Sometimes it takes time to send money.
Bitcoin boasts of the speed of withdrawal procedures, but if the number of people who do the procedure is temporarily large, it may take time to reflect.
Most transactions are usually completed in about 10 minutes, but if it takes longer than that, please contact customer service to confirm the situation.
how to get started with bitcoin
To buy bitcoins, you need to be registered with a cryptocurrency exchange.
The virtual currency exchange is like the Tokyo Stock Exchange in terms of stocks, where virtual currencies including Bitcoin are bought and sold.
Here you can buy bitcoins using Australian yen, and you can also sell bitcoins you already have. You can also use Bitcoin to buy other cryptocurrencies.
Exchanges where you can currently buy Bitcoins include:
All of these exchanges handle Bitcoin, but other cryptocurrencies they handle and fees differ.
Therefore, choose the best exchange depending on how you want to use the exchange and which virtual currency you are interested in.
Registering on these exchanges is easy.
Here, we will introduce how to register bitflyer, which is particularly popular among virtual currency exchanges. bitflyer boasts the largest number of users in Australia and is known for its high security. And we handle all 8 types of virtual currencies, including Bitcoin.
Step 1. Email address registration
First, go to the bitflyer official website.
On the top page, there is an indication "Create a free account in as little as 3 minutes", and there is an input field for the e-mail address under it. Enter your email address here and press "Send".
Then, a "bitflyer account registration confirmation email" will be sent to that email address.
The URL and keywords for the registration screen are described in the email body, so let's proceed with account creation according to the instructions.
After confirming the e-mail address, the terms of agreement will be displayed, so check the contents and click "Agree".
Step 2. Two-factor authentication registration
Bitflyer requires two-factor authentication registration during initial registration. This is a security step, so be sure to complete this first step.
You can receive the verification code used for two-factor authentication in the app or by SMS.
Items that use two-factor authentication include "when logging in", "when registering an external address", "when withdrawing Australian yen", and "when returning virtual currency externally (required)". Let's check it.
Step 3. Registration of personal information
When the two-factor authentication registration is completed, you will be taken to the screen for personal information registration. Enter the following information here.
·Date of birth
This information must match the identity verification documents that you will submit later.
Step 4. Submit identity verification documents
Bitflyer requires the submission of the following documents as identity verification documents. Submit only one of these.
·Health insurance card
・Copy of resident card
・Special permanent resident certificate
・My number card
・Various pension books
・Various welfare notebooks
・Seal registration certificate
・Foreign official documents (overseas foreigners only)
Step 5. Registering a bank account
You need to register a bank account to deposit Australian Yen or buy bitcoin on bitflyer. To register a bank account, enter the following information:
Step 6. address verification
Once your account is created, a postcard will be sent to you to confirm your address. All procedures are complete when you receive this postcard.
Once this is done, you will be able to buy bitcoin on bitflyer. Buy bitcoins from the "Bitcoin Market" menu.
Also, after purchasing bitcoin, you can store it in the bitflyer wallet, but if you want to increase security, we recommend using a dedicated wallet.
Since exchanges are subject to hacking, there is a risk of being damaged by depositing bitcoins here.
After registering with Bitflyer, let's register an account with a dedicated wallet together.