A quick understanding of Bitcoin hard forks When investing in cryptocurrencies, you have to take time understanding all of the important terms. Among these are forks which refer to assets that are related to certain blockchains like Bitcoin. Throughout the years, there have been several popular coins in the market, among them is Bitcoin which […]
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Bitcasino Bitcoin purchase: A secure and hassle-free process
Bitcoin (BTC) is one of the most widely recognised cryptocurrencies worldwide. It holds the distinction of being the first-ever crypto, laying the foundation for the multitude of digital currencies in use today.
At Bitcasino, you can easily deposit, place bets, and withdraw funds using Bitcoin. To learn more about Bitcasino Bitcoin purchase, refer to this simple guide.
How many units is a Bitcoin?
Before making a Bitcoin (BTC) transaction, you should know that 1 BTC has many smaller units. This is because of how big the value of 1 BTC is in the market.
The smaller units of Bitcoin are called satoshis (sats), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. Here is some additional information about the various units used in Bitcoin:
- One Bitcoin is worth 100,000,000 satoshis.
- The gaming units for Bitcoin are mɃ (mBTC) or μɃ.
- The symbols 'Ƀ' or 'BTC' are often used to denote the unit of Bitcoin. 'Ƀ1' refers to '1 Bitcoin'.
- Dividing 'Ƀ' by 1000 gives us 'mɃ' (millibit), which represents a value one-thousandth of a Bitcoin.
- Further dividing 'mɃ' by 1000 gives us 'μɃ' (bit) represents a value one-millionth of a Bitcoin.
Setting up a Bitcoin wallet
To start using Bitcoin for your Bitcasino transactions, you first need to create a Bitcoin wallet. Here’s a simple guide to learning how to set up a Bitcoin wallet and begin playing immediately.
Creating a Bitcoin wallet
A Bitcoin wallet is a software program where you can securely store your Bitcoin assets. For added security, offline Bitcoin wallets are also an option. Explore the different types of Bitcoin wallets available to learn more.
Cloud wallets: Also known as hosted wallets, your private keys are stored on a cloud-based server. When you opt for a cloud wallet, you entrust a third party or a crypto exchange to hold your Bitcoins. At Bitcasino.io, these cloud wallets are highly recommended:
- copay.io
- bitgo.com
Software wallets: These are applications or programs that you can download and install on your device. In contrast to cloud wallets, software wallets give you full control over your digital assets. The following are a few recommended software wallets:
- copay.io
- Breadwallet
- Mycelium
Hardware wallets: These are physical devices, similar to USB or hard drives, where you can securely store your private keys offline. They provide a high level of security by storing them in a protected area of a microcontroller. This helps reduce online or computer-related risks. Here are a couple of hardware wallets to consider:
- Trezor
- Ledger
Verifying a Bitcoin wallet
After successfully creating your Bitcoin wallet, the next step is to verify it to ensure the accuracy and protection of your funds and information. Here's a guide on verifying your Bitcoin wallet:
Provide required information: Your wallet provider may ask for essential information such as your email address, a strong password, and some personal details for identity verification purposes.
Some wallet providers may require you to submit identification documents to verify your identity and prevent fraud.
Review process: The wallet provider will carefully review the verification details you provided to ensure accuracy and identify any potential issues.
Confirmation: Your wallet provider will confirm the verification process once the review is complete and no issues are found, indicating that your wallet is verified and ready for use.
Securing a Bitcoin wallet
Take proactive measures to ensure the utmost security for your Bitcoin. Here are some key points to remember for maintaining your Bitcoin wallet’s security:
- Having multiple wallets is a good idea for increased security. In case one wallet is lost or unforeseen cases occur, you won't lose all your Bitcoin.
- Take advantage of all the available security features to ensure the safety of your funds. This may include requiring a strong password, 2FA, biometrics, etc.
- Regularly backup your wallet. Create secure copies of your private keys or seed phrases and store them in secure places. This ensures that you can still recover your funds even if something happens to your primary wallet.
- Remember that there are fewer options available for password recovery. Therefore, it's important to come up with a strong password. It usually consists of a combination of letters, numbers, and punctuation marks, and should be at least 16 characters in length.
- If you use a hardware wallet, remember to keep it in a secure place to ensure the maximum protection of your private keys and funds.
Ways to keep Bitcoin transactions safe
Understanding how to keep your Bitcoin transactions safe is crucial for protecting your betting funds. Bitcoin and Bitcasino share the same goal of prioritising user security. To ensure a safe Bitcoin transaction, keep the following points in mind:
- Protect your private keys: It is essential to keep your private keys secure to prevent unauthorised access to your wallet. Ensure the safety of your private keys by not sharing them with anyone. Consider storing them offline in a safe location.
- Double or triple-check recipient addresses: Prevent errors by carefully reviewing your recipient address and transaction details. Remember that once a Bitcoin transaction is confirmed, it is permanent and cannot be changed. Therefore, exercise utmost caution to avoid sending Bitcoin to the wrong address.
- Keep up with security practices: Stay updated about new security practices within the Bitcoin community, such as enabling 2FA. Also, regularly update your wallet to ensure you have the latest security features and protect yourself from potential hacking attempts.
- Avoid public WiFi: Public networks could be used as a hotspot for hackers to gain access to your private keys due to their security flaws. Therefore, it’s safer to stick with using your home network or personal phone hotspot to ensure the security of your Bitcoin transactions.
How to buy Bitcoin
Here’s a brief guide on how you can purchase Bitcasino Bitcoin for betting:
Step 1: Log in to your Bitcasino.io account or sign up if you’re new.
Step 2: On the homepage, click the red 'Deposit' button on the top-right corner. You will be redirected to the Funds page.
Step 3: Click ‘Active Balance’ and choose ‘Bitcoin’.
Step 4: In the 'Buy Crypto' section, choose how you want to buy Bitcoin. Bitcasino offers options such as credit/debit cards or selected crypto exchanges.
Step 5: Select your preferred method and wait a few seconds for it to load.
Step 6: Enter the amount of fiat currency you want to spend or the amount of Bitcoin you want to receive in the respective fields.
If you selected a credit/debit card as your payment method:
Step 1: Enter your card number, expiry date, and CVV in the assigned fields.
Step 2: Review your order details, including the amount of fiat currency you're sending, the amount of Bitcoin you will receive, and any associated fees.
Step 3: Click 'Pay now' to confirm your purchase.
If you selected a crypto exchange as your payment method:
Step 1: Follow the instructions provided to start the transfer.
Step 2: Complete any required steps specified by the exchange.
Step 3: Wait for the transfer to be processed and confirmed.
Buying Bitcoin using Bitget
Purchasing Bitcoin from Bitget, a prominent crypto exchange, is a straightforward process. Here’s how to buy Bitcoin at Bitget:
- Create an account on the Bitget website.
- Deposit funds into your Bitget account.
- Click on the 'Buy Crypto' button from the drop-down menu.
- Choose 'Crypto Deposit' from the options.
- Click on 'Withdraw' and select Bitcoin.
- Copy your wallet address from the Bitcasino.io cashier.
- Paste the wallet address into the 'Withdraw address' section on Bitget.
- Enter your desired withdrawal amount.
- Click 'Submit' to initiate the withdrawal process.
Buying Bitcoin using Bitflyer Exchange
Bitflyer is one of the most popular crypto exchanges in Japan, United States, and Europe. Here’s how you can buy Bitcoin through Bitflyer Exchange:
- Create an account on the Bitflyer Exchange website.
- Deposit funds into your account.
- Click on the ‘Account Funding’ button.
- Select ‘Bank Transfer’ from the available options.
- Click on the 'Buy/Sell' button.
- Select Bitcoin.
- Click ‘Buy’.
- Enter the amount of Bitcoin you wish to buy.
- Confirm the purchase.
Buying Bitcoin using Binance Exchange
Binance is the largest crypto trading platform in the world. It provides services, primarily trading digital currencies, staking, lending, and futures trading. Follow these steps to buy Bitcoin through Binance:
- Register an account on the Binance website.
- On the homepage, locate and click on the 'Wallet' button.
- From the options presented, select the 'Fiat and Spot' button.
- Choose the Fiat currency you wish to deposit from the list of available crypto.
- Click on the ‘Bank Card’ option then select your Credit Card, if applicable.
- Enter the wallet address of your Bitcasino account into the designated field.
- Specify the amount you wish to purchase.
- Finally, click on the ‘Continue’ button to initiate the process.
Is there any fee when buying Bitcoin at Bitcasino?
Bitcasino does not charge fees for Bitcoin, altcoin, or fiat transactions. However, please note that your selected payment service provider may impose additional fees, such as handling, processing, network fees, and more, when you buy Bitcoin, make a deposit, or withdraw funds.
In certain cases, Bitcasino may need to apply additional fees per the terms and conditions. However, rest assured that you will be fully notified in advance and during the payment process.
How can I deposit Bitcoin into my Bitcasino account?
To place bets on any games, it's necessary to fund your account. To do this, you will need to make a deposit. Here's a step-by-step guide on how to deposit Bitcoin into your Bitcasino account:
Step 1: Log in to your Bitcasino.io account.
Step 2: Click the 'Deposit' button at the homepage’s top right corner.
Step 3: From the 'Active Balance' drop-down menu, choose 'Bitcoin' from the list of accepted cryptocurrencies.
Step 4: Copy the unique account address on the screen by clicking the overlapping rectangles on the side.
Step 5: Paste the address into the appropriate field in your crypto wallet to start the transaction.
Step 6: Alternatively, you can use your e-wallet scanner to scan the provided QR code above the unique address.
Step 7: Once completed, wait for a notification confirming your deposit, which may take a few moments.
If you want to deposit using other crypto or payment methods, visit the Help Centre and go to the Payment Options section. There you will find information on how to deposit using different options.
Minimum deposit amount
The minimum amount of Bitcoin you can deposit may vary depending on your preferred payment method. You can find the actual minimum deposit amount on the cashier page. The minimum deposit amount for Bitcoin on Bitcasino is BTC 0.000007 = mBTC 0.007.
Maximum deposit amount
At Bitcasino.io, you don't have to worry about maximum deposit limits. However, responsible gambling and depositing within your means is strongly advised.
How long does it take to be processed?
Depositing Bitcoin is usually almost instant. Once the transaction is initiated, it will be added to the blockchain and typically requires three (3) confirmations to proceed. However, the processing time for deposits may vary or be delayed by third-party service providers you use, such as e-wallets or crypto exchanges.
Note: The time it takes to confirm a transaction depends on the transaction fee. Crypto miners generally prioritise transactions with higher fees.
How can I withdraw Bitcoin from my Bitcasino account?
Here’s how you can make a withdrawal from your Bitcasino.io account.
Step 1: Log in to your Bitcasino.io account.
Step 2: Click your current account balance below your username to be taken to the Funds page.
Step 3: In the 'Active Balance' drop-down menu, choose 'Bitcoin'.
Step 4: Select the 'Withdraw' section.
Step 5: Click on the 'Bitcoin' option labelled as 'Withdraw Bitcoin'.
Step 6: Enter the amount of Bitcoin you want to withdraw. Alternatively, you can click on the percentage options below the field, such as 25%, 50%, or 100% to simplify the process.
Step 7: Provide your wallet address.
Step 8: Click the 'Withdraw' button to proceed.
Step 9: Follow the remaining steps as required to complete the withdrawal process.
Minimum withdrawal amount
The minimum withdrawal amount for Bitcoin may differ based on the chosen payment method. Refer to the cashier page to find the specific minimum withdrawal amount. The minimum withdrawal amount for Bitcoin on Bitcasino is BTC 0.001 = mBTC 1.
Maximum withdrawal amount
At Bitcasino.io, there are no restrictions on the maximum withdrawal amount. However, if you win 50 BTC or more, Bitcasino may limit the weekly payment to a maximum of 50 bitcoins until the full amount is settled.
How long does it take to be processed?
Bitcasino withdrawals are usually almost instant. However, for accuracy and to minimise errors, large withdrawals are manually processed, which can cause a slight delay.
Transaction confirmation at Bitcasino
When you withdraw funds using Bitcoin, the transaction must be verified on the blockchain. The number of confirmations needed for verification depends on the withdrawal amount. On average, it takes about 10 minutes for one confirmation to be completed.
Frequently Asked Questions (FAQs)
Deepen your knowledge of bit casino bit coin purchase even further. Here are some commonly asked questions about Bitcoin.
There are several reasons why your bank may not appear on the current list, even if it was previously listed. This could be due to technical issues or other reasons. In such cases, you simply need to wait for the bank's online payment service to be restored, and you will see your preferred bank listed again.
When making a Bitcoin transaction, the transaction will be added to the blockchain, which requires three (3) confirmations. To check if the transaction has been processed, go to your username and you will be redirected to the Funds page. Scroll down and click on 'Transaction History' to verify it.
Upon submitting your payment at Bitcasino, you will be provided with an exchange rate valid for the next 15 minutes. However, if the transaction takes longer to process, the exchange rate may change and will be determined at the time of the transaction.
Bitcoin (BTC) is the pioneering crypto, known for its robust security measures and widespread popularity among crypto users. With Bitcoin, you can enjoy nearly instant transactions, lower fees, no chargebacks, and a decentralised environment.
Yes! Bitcasino is known for its support of a diverse range of crypto. Other crypto, beyond Bitcoin, that you can use at Bitcasino are the following:
- Tether (USDT)
- Tron (TRX)
- Ethereum (ETH)
- Binance Coin (BNB)
- Ripple (XRP)
- Litecoin (LTC)
- USD Coin (USDC)
- Polygon (MATIC)
- The Open Network (TON)
- USD Coin (USDC)
If your transaction is interrupted in the middle, you can contact our customer service for assistance. Simply provide us with the transaction details, or if you have already been in contact with our customer support team, you may be asked to provide additional information. This will help us better understand the issue and work towards a quick resolution of the problem.
