Bitcoin Casinos: Easy Guide to Payment & Withdrawal Process

Payment and withdrawal procedures play a substantial role in determining the success & authenticity of online casinos. The severity of payment techniques might not be the thought that strikes at the earliest, but their significance concerning online casinos in India cannot be disregarded. Initially, the most common methods of payment known to the Indian players were debit & credit cards. However, the evolution taking place in the dynamic of the gaming arena has introduced a currency that is striking the right chords for everyone. Yes- we are talking about Bitcoin. The rise in the utility of Bitcoin instantly gave rise to Bitcoin live casinos.

Are Bitcoin Casinos Safe?

Bitcoin, the first cryptocurrency, came into existence in 2009, intending to draw out the role of government or financial institutions to make any financial transactions. As per the analysis, it can be appropriately gathered that online businesses recognize cryptocurrencies as feasible & safe payment options. It has been observed that online casinos are amidst the top websites open to bitcoin transactions. As far as security is concerned, it has been noted that transactions at best bitcoin casinos online are exceptionally secure owing to levels of encryptions & attestations that take place throughout the procedure. Therefore, it is challenging to conduct deceitful bitcoin transactions, and there is no option of chargeback with bitcoin casinos.

No deposit bitcoin casinos substantiate that these transactions are unnamed and do not incorporate personal or financial information. Therefore, it can be inferred that players cannot link their wallets, debit & credit cards with the rest of the funds in participation
with bitcoin casinos. Best bitcoin online casinos also make things uncomplicated for the players in countries where online casino games are not supported.

How to Deposit Money at Best Bitcoin Online Casinos?

Employing Bitcoins to make payments and depositions at bitcoin casinos can be puzzling for beginners. Your crypto wallet and the firm/individual to whom the payment is being made are accompanied by numerous letters & numbers. To make bitcoin deposits to an online bitcoin casino, you must know these letters & numbers backward. We have put forward a list of steps that you can follow while making deposits at any bitcoin casino:

1. Create an online Bitcoin Wallet: Bitcoin, a digital currency, cannot be held in a traditional account. However, as an alternative, you must have a wallet that will make things easier by helping you fund & withdraw from your account. Most of these wallets are available for free and yet are dependable due to encryptions.
2. Purchase Bitcoins: You can buy Bitcoins from the open market or consider the options Bitcoin wallet offers to save the struggle. To finally purchase the Bitcoin, you require a name, address & credit card number.
3. Add Bitcoin to your online casino account: Your purchased Bitcoins can be added to your bitcoin casino account. To start playing, you have to provide your Bitcoin wallet address. Once this is initiated, the casino will accept your transfer.

How to withdraw your winnings from Top Bitcoin Casinos in India?

A bulk of bitcoin casinos will allow you to withdraw your earnings only if you use the deposit method.

1. Sign in: Log in to your account using your enrolment details.
2. Choose Cash Out as your option: Once you choose cash out as your option, choose Bitcoin as your withdrawal method.
3. Choose an amount: Once you decide on an amount, you can add your wallet number.

Once the above-mentioned steps are followed, you have to wait for your funds to reach your account. Sometimes they reach instantly, and you might have to wait up to a day at other times. It is recommended to go through the withdrawal conditions of the site that you have considered.

Fees

There is minimum deposit & withdrawal amount applicable but zero withdrawal fees charged for Bitcoin casinos.

Deposit & Withdrawal Times at Bitcoin Casinos

Deposit: Mostly the deposits are processed instantly. However, there are chances of deposits getting postponed due to third-party services like e-wallets, exchanges, etc which are deducted from the private account and are not reflected in the blockchain for a few hours.

Withdrawal:Bitcoin casino sites let you withdraw your winnings almost instantly. The longest time a withdrawal takes to process is 10 minutes.

How to Transfer Money from an Indian Bank Account to your Bitcoin Wallet?

One cannot directly transfer money from an Indian Bank account to their Bitcoin wallet to make the payments at bitcoin casinos. This is mainly because the wallet only bears & sustains BTC & BCH and not the government of other cryptocurrencies. However, you can use a bank wire to get inexpensive exchange rates. Check out the step by step guide we have created to make it easier for you to comprehend:

• Research about reputable exchanges that sustain bank wire services in India;
• Once you have decided, create an account on that particular exchange;
• Look for “add the payment method”;
• Put in your bank account;
• Go to the section where it mentions “buy/sell”;
• Purchase Bitcoins.

It is recommended to purchase Bitcoins using a bank account, especially if you want to buy large amounts of Bitcoins & you don’t have credit/debit cards. Also, procuring Bitcoins with bank accounts does not involve risk and the fee is remarkably less. Not to forget, the buying limits are higher in the case of bank transfers in comparison to credit/debit cards.

Indian Banks that Accept Allow Payments via Bitcoin

As per the report published by Economic Times, some Indian banks allow the purchase of Bitcoin and are relieving the past restraints. As per the long-established crypto exchange Wazir-ex, the following banks are open to payments for crypto purchases.

1. Punjab National Bank;
2. IDBI;
3. IDFC First Bank;
4. Federal Bank.

Although many banks can be seen softening their standpoint on cryptocurrencies, that doesn’t mean things are fully on course.

How to Sign Up For Bitcoin Casino Sites

Joining a Bitcoin casino is easier than you have imagined but if you are a beginner you need to understand the process. Gauge through the list of steps we have created for you below:

1. Find a reliable casino. It is of utmost importance that you choose a licensed and regulated bitcoin casino comprising top games & abundance of fair bonuses that are easy to claim.
2. Register yourself. Once you find a bitcoin casino to invest in, open the homepage and click on the signup button. You will be able to spot an e-form. Fill in all the details correctly and make sure you read all the terms & conditions.
3. Submit & confirm. Once you have submitted the form, you will receive a confirmation email. This email is sent with the purpose of verification of your recently created account. All you have to do is open that e-mail and click on verify.
4. Sign in & add the deposit amount. Once account verification is done, return to the homepage of the bitcoin casino you have selected. You will receive a sign-in bonus depending upon the terms & conditions of the chosen casino. In the case where you have not received a sign-on bonus, you will have to top up your account.
5. To add money to your account, scroll down to the cashier’s page. You will be able to spot this under settings. Choose Bitcoin as your deposit option. Add the casino’s address to your Bitcoin wallet transfer section & add the amount you wish to deposit. Your amount will reflect in your casino account in just 15 minutes.

That’s it!! You have signed-up and are now ready to play. Also, once you deposit, you will receive your welcome bonus. You might have to add some promo codes to claim that bonus.