Bitcoin, as one of the most secure digital banking solutions available, has become one of the preferred methods when it comes to online monetary transactions. The main reason is that Bitcoin-related transactions are not controlled by any single corporation, entity or group, which offers a great deal of freedom and anonymity. \n\n\n\nIn case you still haven\u2019t tried it out, we\u2019re going to dive deeper to see what this brings to the table when it comes to casino players and their transactions.\n\n\n\nThe Decentralised Cryptocurrency\n\n\n\nSince Bitcoin was introduced in 2009, it has revolutionised online transactions. At the core of that revolution lies the fact that it eliminates the need to coordinate with a bank or third-party merchant. Bitcoin is not simply a payment method, it is a currency the same way the Euro or Dollar is, but a decentralised cryptocurrency. This means that it\u2019s purely digital and doesn\u2019t exist in the form of physical cash, but also that it doesn\u2019t have a central bank connected to it, meaning it\u2019s strictly reserved for the peer-to-peer marketplace. So, in most cases, facilitating transactions doesn\u2019t require real names and there are no transaction fees. \n\n\n\nObtaining & Using Bitcoin\n\n\n\nTo get your hands on this currency you can visit websites that trade Bitcoin such as Bitwage, Bitsquare, Coinbase, etc. You can also purchase it from a friend, accept it as a payment, or you can try your luck mining for these coins. It is transferred similarly to other digital money transfers \u2013 via computers and mobile applications. \n\n\n\nBut first, you need a wallet where to store Bitcoins and keep them secure. You can attain it on sites such as bitcoin.org where you\u2019ll be able to choose from different types available \u2013 web, hardware, desktop, mobile, etc. \n\n\n\nTo send Bitcoins, you\u2019ll need a Bitcoin address and a private key. The address is composed of numbers and letters and is randomly generated. The key is also a set of random letters and numbers and is kept a secret. All Bitcoin transactions are stored in public ledgers or blockchains, and soon there\u2019ll be a way to provide receipts for each one. \n\n\n\nInto Casinos\n\n\n\nMany casinos display the information that they offer Bitcoins proudly on their homepage, so it won\u2019t be hard to find those that do. There are those establishments that accept only Bitcoin, while others like the springbok online casino have included it among other payment options available to punters. Besides the list of deposit and payment options, they\u2019ll also specify the limits, if required. \n\n\n\nOnce you\u2019ve created a Bitcoin wallet, you\u2019re able to facilitate the funding of your account. As you register at the casino, you\u2019ll receive a randomly generated Bitcoin address we\u2019ve mentioned above. You\u2019ll be asked to put that address on the deposit page and in your account so you can use it when making Bitcoin transactions with the casino. \n\n\n\nDeposits into your account are basically instant. You\u2019ll just have to wait for confirmation by the blockchain, which will take less than an hour. \n\n\n\nYou have two options when you want to cash out. You can opt for sending the coins to the address of your exchange service where you\u2019ll be able to sell them by requesting a bank transfer or via other withdrawal methods. If you choose to keep the Bitcoins, simply send them to your wallet. You\u2019ll do this by logging into your account and choosing the withdrawal tab. There you\u2019ll have to provide your designated Bitcoin address, then simply choose the amount and you\u2019re done. Much like the deposits, this transaction will occur instantly.\n\n\n\nSince no third party is involved in the transactions, the majority of deposits and withdrawals have no fees or have very small ones. Just keep in mind that Bitcoin prices can fluctuate when choosing your withdrawal method. \n\n\n\nBitcoin Payment Pros & Cons\n\n\n\nProbably the biggest con is the above-mentioned fluctuation of the cryptocurrency itself. Since it\u2019s a highly volatile and still fairly new currency, its value can change dramatically in a short period of time. Nevertheless, it\u2019s just a question of paying close attention and not storing away the money you can\u2019t afford to lose since the transactions can\u2019t be reversed. \n\n\n\nCompared to that, the pros are quite evident: instantaneous transfers, minimal or no fees at all, and the freedom to receive and send it at any time, anywhere across the globe. There\u2019s no need to worry about borders, bureaucracy, bank holidays, no one can take your coins away or freeze your account. \n\n\n\nRegarding safety, there\u2019s no question \u2013 you have complete control over your transactions. There are no third parties involved and casinos won\u2019t ask for any personal data beyond your email address, so no one can steal your identity. On top of that, Bitcoin has many mechanisms that protect the users\u2019 privacy such as complex encryption and backups.\n\n\n\nIt\u2019s impossible to predict Bitcoin's future since it\u2019s still experimental and some fear certain issues such as slower confirmation or increased fees will appear as it\u2019s adoption grows. But many experts have prognosticated its demise and Bitcoin is still here, closer to the mainstream than ever.