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 […]
Bitcasino virtual currency deposit: A guide to effortless deposits
Bitcasino is the first licensed crypto casino, making it a popular option for a seamless gaming experience. The site allows you to make quick and easy deposits using a wide range of cryptocurrencies like Bitcoin ( BTC), Tether (USDT) and Ethereum (ETH).
Learn how to make a Bit casino virtual currency deposit into your account hassle-free with this guide:
Which virtual currencies does Bitcasino support?
As one of the leading crypto casinos, Bitcasino supports a wide range of coins for fast Bitcasino virtual currency deposit transactions, including:
Bitcoin (BTC) → BTC is the biggest crypto by market cap. It was released in 2009 by a pseudonymous Satoshi Nakamoto. It’s a decentralised virtual currency that operates on a peer-to-peer network, enabling transactions without needing middlemen like banks.
Ethereum (ETH) → ETH was launched in 2015 and serves as a foundation for various blockchain-based projects, such as self-executing smart contracts. ETH also supports decentralised apps (dApps) that utilise the security and transparency of the ETH network, enabling a wide range of uses, from finance to gaming.
Litecoin (LTC) → LTC is a peer-to-peer coin created in 2011. It enables fast and low-cost transactions, making it suitable for everyday use. Its block generation time is around 2.5 minutes compared to BTC’s 10 minutes. This means transactions are confirmed faster, making it a popular Bitcasino virtual currency deposit option.
Tether (USDT) → USDT is a stablecoin launched in 2014. Its value is pegged to a fiat currency at a 1:1 ratio. This stability helps you avoid the volatile nature of the crypto market, giving more value to your asset.
Tron (TRX) → TRX is a blockchain-based decentralised platform that aims to build a free, global digital content ecosystem. Launched in 2017, TRX has high transaction speeds and is capable of processing thousands of transactions per second (TPS), making it a great option for users who require fast and efficient processing.
Ripple (XRP) → XRP was created in 2012 and is designed to aid cross-border payments and enhance transaction efficiency. XRP transactions are confirmed for around 3 to 5 seconds, which is faster than other coins. It also has low transaction fees, often costing a fraction of a cent.
Cardano (ADA) → ADA was launched in 2017 and provides a more secure and scalable system for developing dApps and smart contracts. It uses a proof-of-stake (PoS) mechanism known as Ouroboros, which allows transactions to be validated based on the number of ADA tokens held.
Dogecoin (DOGE) → Launched in 2013, DOGE started as a lighthearted meme of a Shiba Inu dog but has evolved into a popular virtual asset with a strong community. Unlike other coins, DOGE has no maximum supply limit. Coins are continuously issued, with around 5 billion new DOGE mined each year.
Binance Coin (BNB) → BNB is the native coin of the Binance Exchange, one of the largest crypto exchanges in the world. First launched as an ERC-20 token on the ETH blockchain in 2017, BNB has since migrated to its blockchain, Binance Chain. It’s often used to save money when settling fees and receiving transaction discounts.
USD Coin (USDC) → USDC is a stablecoin pegged to the US dollar that was launched in 2018. It provides a stable value for transactions and combines blockchain tech's benefits with fiat currency's stability. This makes it a great investment option and a popular virtual currency deposit method.
Polygon (MATIC) → This is a Layer 2 scaling solution for ETH designed to enhance the scalability and usability of the ETH blockchain. MATIC was launched in 2017 and provides faster and cheaper transactions while maintaining the security of the ETH network.
Open Network (TON) → TON was developed by the team behind Telegram in 2019. It provides a fast, scalable, and user-friendly environment for dApps and services. TON can handle millions of transactions per second through its unique multi-blockchain framework, allowing it to scale efficiently as the network grows.
How can I purchase cryptocurrency on Bitcasino.jp?
Buying crypto at Bitcasino is easy and simple. All you have to do is follow these step-by-step guide:
Step 1: On the Bitcasino page, click the ‘Deposit’ button in the screen's upper right corner.
Step 2: Under the Active Balance, click the drop-down button and select the coin you wish to buy.
Step 3: Choose the ‘Buy Crypto’ tab and select your preferred payment method.
Step 4: Follow the instructions to finish the process.
How do I deposit virtual currency into my Bitcasino account?
To make a Bitcasino deposit using crypto, follow these quick steps:
Step 1: Click ‘Deposit’ at the upper right corner of the screen.
Step 2: Under the Active Balance, click the drop-down button and choose the coin you want to deposit into your account.
Step 3: Click the ‘Deposit’ tab and scan the QR code provided.
Step 4: You can also copy and paste the deposit address into your crypto wallet.
Are there any deposit limits for cryptocurrency?
Bitcasino does not have minimum and maximum deposit limits for Bitcasino virtual currency deposit transactions. This allows you to deposit any amount, whether a one-time deposit or on a weekly or monthly basis.
Aside from allowing you to quickly access your funds, Bitcasino’s lack of deposit limits allows you to take full advantage of the site’s wide range of betting options. Whether you’re a high roller looking to win big with a massive deposit or a new player slowly building up your balance, Bitcasino accommodates all bankroll sizes and playstyles.
What are the benefits of using cryptocurrency to play casino games?
Using crypto to play your favourite games has plenty of benefits that enhance your gaming experience. These include:
Privacy → Crypto transactions do not require personal info such as your name and bank account details, allowing you to maintain your privacy.
Faster transactions → Deposits and withdrawals with crypto are processed much faster than payment methods like bank transfers since they do not require a third party. This allows you to access your money quickly.
No deposit fees → Making a deposit using crypto at Bitcasino does not impose any fees, giving more value to your money.
Security → Crypto uses advanced cryptographic techniques, making transactions secure and less susceptible to fraud.
Transparency → Blockchain tech provides a public ledger of transactions, enhancing transparency and trust in the gaming process. You can verify game fairness and financial transactions, allowing you to play your favourite games with peace of mind.
What are the recommended wallets for depositing virtual currency?
One of the perks of using crypto for online casino gaming is the wide selection of crypto wallets, each with unique features. The two main types of crypto wallets you should consider include:
Hardware wallets → These are physical devices, like USB sticks, that store your coin offline. They are not connected to the internet, providing more security from hackers. You plug them into your computer only when you need to transact.
Software wallets → These are apps or programs you install on your phone or computer. They are connected to the internet, making them easier to use but more prone to hacking.
To help you narrow down your list, here are some of the recommended crypto wallets supported by Bitcasino:
Ledger → This is a hardware wallet that uses a secure chip like a credit card to protect private keys. It supports many coins, including BTC, ETH, and altcoins. Ledger also has an intuitive app that allows you to easily manage your assets.
Trezor → Trezor is another hardware wallet that uses a secure chip and protects against hacking and malware. It has a web interface and a mobile app that make it easy to manage and transact with your crypto assets.
Exodus → Exodus is a popular software wallet that offers an intuitive and visually appealing design, making it accessible for beginners. It allows you to swap one coin for another directly within the wallet without needing to use an external exchange.
Trust Wallet → This is a mobile software wallet that supports various coins and tokens, including BTC and BNB as well as ERC-20 and BEP-20 tokens. Trust Wallet also has a simple and intuitive interface suitable for both new and experienced crypto users.
MetaMask → MetaMask is a well-known browser-based software wallet mainly used for interacting with the ETH blockchain and other compatible networks. It's available as a browser extension for Chrome, Firefox, Brave, and Edge.
What should you consider when choosing a crypto wallet?
Consider these factors to find the best crypto wallet that will cater to your needs and preferences:
Security features → Look for wallets with strong security measures like two-factor authentication (2FA), encryption, and backup options. You want your crypto to be safe from hackers.
Supported coins → Some wallets are limited to major currencies, while others can handle a wider range. Check if the wallet supports the specific cryptocurrencies you want to use.
User experience → Explore how user-friendly the wallet is. A clean, intuitive interface makes managing your crypto easier, especially if you’re a beginner.
Fees → Some wallets are free, while others charge fees for transactions or services. Be sure to check the costs involved and choose one that fits your budget.
Backup options → A good wallet should have easy-to-follow backup and recovery options. If you lose access, you want to recover your funds hassle-free.
Customer support → Look for wallets that offer reliable customer support. If you run into issues or have questions, it’s nice to know you can get help when you need it.
Mobile app → If you plan to manage your crypto on the go, make sure the wallet has a mobile app or is mobile-friendly. This way, you can deposit into your Bitcasino account anytime, anywhere.
Community and development → Check if the wallet is actively maintained and has a strong community. A regularly updated wallet shows that developers are dedicated to improving its security and features.
What is the travel rule for Japanese cryptocurrency exchanges?
The travel rule is a regulation implemented on April 1, 2022, that affects how crypto exchanges in Japan handle transactions. It requires exchanges to share certain info including the names and account numbers of both the sender and the receiver. This helps prevent money laundering and other illegal activities by making Bitcasino transactions more transparent.
What are the requirements for a Bitcasino virtual currency deposit?
Bitcasino protects your funds and info through a strict know-your-customer (KYC) process. This involves collecting certain documents to ensure you are who you claim to be and preventing fraud, money laundering, and other illegal activities.
This means that to make a Bitcasino virtual currency deposit, you need to submit certain documents as part of Bitcaisno’s KYC procedure. These documents include:
- Passport
- Driver’s licence
- National ID card
Bitcasino will send a confirmation email to the address you used to sign up once your account is verified. The site will also email you if the documents you sent don't meet the requirements.
How long does it take for crypto deposits to be processed?
Bitcoin deposits are processed quickly, often within a few minutes, depending on the amount you deposit and network conditions. However, some third-party services, such as crypto exchanges or e-wallets, can take a few hours to upload the transaction to the blockchain.
The transaction needs to be confirmed multiple times after it is added to the blockchain. The number of confirmations needed varies based on the coin you deposited. For BTC, you need three confirmations.
Since crypto miners process transfers with higher fees first, the transaction fee also affects the processing time. This means transactions with lower fees might take a while to be processed.
To get your Bitcasino deposit request approved faster, it's best to use the average transaction fee at that time. This makes it possible for at least one BTC confirmation to happen in 10 minutes instead of a few hours.
How do I check my crypto deposit transaction history?
You can easily check your transaction history at the site by following these steps:
Step 1: Click the ‘Deposit’ button on the upper right corner of the page.
Step 2: Under ‘Recent Transactions’, select ‘Transaction history’.
Step 3: You will find your recent transactions, including deposits and withdrawals.
Can I withdraw using other coins if I deposit Bitcoin?
No, when you deposit a specific coin like BTC, you must also withdraw using the same coin. This ensures the security and integrity of crypto transactions on the site. If you try to withdraw Bitcoin through a method that isn't Bitcoin-specific, you risk running into issues or losing your money.
How do I ensure the security of my Bitcasino virtual currency deposits?
With how vast the internet is, there are a lot of ways to secure your funds. Ensure the security of your Bitcasino virtual currency deposits with these tips:
Use strong passwords → Create a unique and complex password for your account. Avoid using common words or sensitive info like your birthday.
Enable two-factor authentication (2FA) → Activate 2FA for an added layer of security. This requires a second form of verification, like a code from your phone.
Keep your software updated → Make sure your device’s operating system, browser, and any security software are up to date to protect against hacks.
Secure your wallet → Only use reputable crypto wallets that offer enhanced security features. Consider using hardware wallets for added security.
Be wary of phishing → Always double-check URLs and be cautious of emails or messages that ask for your login info or private keys.
Use a virtual private network (VPN) → When accessing Bitcasino, consider using a (VPN) for an extra layer of privacy and security.
Monitor your accounts → Check your account for any unauthorised transactions. Contact customer support immediately if you find any suspicious activity.
Educate yourself → Stay informed about the latest security practices and potential threats in the crypto space.
Use unique emails → Create a dedicated email address for your Bitcasino account. This reduces the risk of your main email being targeted.
Be cautious of public wifi → Avoid accessing your account over public wifi networks, as they can be less secure. If you need to make transactions using public wifi, use a VPN.
Backup your wallet → If you use a software wallet, make regular backups of your wallet data. Store backups securely offline hacks.
Review permissions → Review which apps and services have access to your Bitcasino account and revoke any that are not needed.
Limit sharing info → Be discreet about your crypto holdings and avoid sharing details on social media.
Set up alerts → Enable notifications for any account activity, such as withdrawals or logins, so you can quickly react to suspicious actions.
Frequently Asked Questions (FAQs)
Learn more about Bitcasino virtual currency deposit transactions with these FAQs:
Once you've made a deposit and the transaction is processed, you can no longer cancel or reverse a crypto deposit on Bitcasino. Crypto transactions are irreversible.