Bitcoin Casinos - Safe Deposit

The popularity of Bitcoin as a payment option is increasing day by day. Millions of investors and users are adopting the use of Bitcoin in paying for goods and services. The use of this payment option in esport betting, therefore, depends on this growing popularity.

The Bitcoin network came into existence on January 3, 2009. Nakamoto Satoshi mined the first block of bitcoin on this date, which was worth 50 bitcoins. Since then, the use of Bitcoin has expanded, and quite a number of people and business organizations have become interested in it as a payment option.

With the company located in the United States, the use of Bitcoin as a payment option is more popular in the US than it is in any other country in the world. Its popularity in the US could be linked to several factors apart from the physical proximity to the location of Bitcoin companies, something that increases the level of trust.

The high-level security offered by Bitcoin, lower transaction costs, and faster transactions are some of the reasons why Bitcoins are steadily becoming popular among people. Its use in Bitcoin esports betting will not only enhance its popularity but put also offer convenience to users who already prefer it as a payment option.

Online casinos that accept Bitcoins are the fastest paying and offers user enhanced convenience when making deposits. To make a Bitcoin deposit, a user will take two major easy-to-follow steps. The first step involves the user navigating to the deposits page of the sportsbook or online casino you need to play.

This page provides a wide range of payment options, depending on what the casino allows. The second step involves the user selecting the bitcoin as the payment option for making the deposit. Everything else done thereafter falls under this second step.

After selecting the bitcoin option, the user is provided step-by-step instructions on what they need to do subsequently. Users can connect their casino account to their bank account to make the process of making deposits more convenient. However, the user has to always provide authorization before the money is transferred from the bank to the casino account. Similarly, users can deposit directly from the providers.

This happens without the money having to go via one’s bank. Direct deposit from the provider offers enhanced convenience on the sides of the users. Limits on deposits are part of the responsible gaming techniques. However, many of the providers currently do not have daily deposits.

Withdrawing Bitcoins from an online casino follows four basic steps, which are easy for any user to master. The first step involves the user navigating to the cashier page of the online casino of their choice. An individual has to take this step once they are ready to make the withdrawal from the specified casino.

At the casino’s cashier page, there is a wide range of payment options for the withdrawals made, Bitcoin being one of them. The second step involves the user selecting Bitcoin as the preferred withdrawal option. After this step, the system leads one to the next two system-guide steps.

The third step is to generate the individual’s address. This step is followed by checking the address to ensure that it is the correct one. The fourth and last step is to authorize the withdrawal. This step occurs upon verifying the address generated is accurate. It is also possible to withdraw from the provider, something that enhances the user’s convenience.

As is the case with deposits, daily withdrawal limits seek to encourage response gaming among players. Users set the withdrawal limits, which the providers effect immediately. In addition to withdrawals at the providers, it is also possible to make mobile withdrawals, which also further enhance the convenience enjoyed by players in accessing their money.

Bitcoin, like any other payment option, has a number of benefits as well as drawbacks for individual organizations that want to make use of it. The pros are the reasons for its rising adoption, while the cons are the reason why a considerable number of people and companies still have reservations about accepting it as a form of payment. The pros of Bitcoin are:

• High level of accessibility facilitated by its borderless nature
• Increased transparency and user anonymity
• Absence of central authority
• The cons of Bitcoin include:
• It lacks appropriate government regulations
• Not possible to reverse the bitcoins sent
• Bitcoins are highly volatile

Using Bitcoin to make payments requires one to have a Bitcoin account, which can be established through three steps. The first is to down the Coinomi using a smartphone. For those using iOS smartphones, they will search for the Coinomi on the App Store, while those using Android smartphones will search for it on the Google Play store.

The second step after downloading Coinomi involves writing down the recovery phrase. This is a 24-words phrase, which is unique for every individual. After writing down the recovery phrase, the third step is to set a password.

A good and strong password should have a minimum of eight characters. The characters should include numbers, letters, and special characters. The letters should be both upper and lower cases. Once the password has been set, one can be able to add the Bitcoins to the wallet using the receiving address. It is possible to open a provider account even if one does not have a bank account.

There is an age limitation for people who want to open Bitcoin accounts at the provider. The new policy put in place in 2017 puts 18 years as the minimum age for anyone who wants to open a bitcoin account. This, therefore, means that one has to be 18 and above to be able to open and hold a Bitcoin account.

Customer support of the Bitcoin company comes in handy to the customers, especially when they what to secure their account from suspicious activities. Users are more willing to open accounts with reliable and easily accessible support. The existence of good customer support at Bitcoin is the reason why many people are considering using it as a payment option for esport betting.

However, unlike the conventional payment options and accounts, many of the customer support lines digital currencies do not connect users to attendants who can provide assistance to them. When one calls the provided support lines, they link them to the automated systems, which provide the needed support.