Cryptocurrency is now mainstream in ways that no one thought possible five or six years ago. Everyone is aware of Bitcoin, Dogecoin, and other digital currencies, even if their values still fluctuate heavily.
With the legality of gambling still in flux in several parts of the United States, betting enthusiasts are always looking for ways to securely and discreetly add money to their online casino or sports betting accounts.
Using cryptocurrencies to add money onto your account is possible, depending on the online casino you are frequenting.
Below is an in-depth explanation of how cryptocurrency gambling works, which should help you understand how to use Bitcoin and other digital currencies for gambling purposes safely.
Adding Money to Online Casinos with Bitcoin
Bitcoin is one of the most mainstream cryptocurrencies globally, given its popularity among investors and general users. Someone who wishes for privacy when paying for goods or services online can use Bitcoin to do so.
The process for obtaining Bitcoin is straightforward, as you only need to sign up at a reputable platform that can convert your present savings into Bitcoin. If you have an American bank account, you link the bank account to the website and buy as much Bitcoin as you may need to use.
Then you visit an online casino that supports Bitcoin for payment, add money into your account using Bitcoin, and begin spending that money on various online casino games. You can bet on poker, blackjack, roulette, slots, and even sports games using the money in your account.
Using the Chipz Ecosystem
The Chipz Ecosystem garners a lot of interest among online casinos in the United States, given its security and other benefits. Chipz is a decentralized platform that uses smart booking contracts through the Ethereum blockchain cryptocurrency.
Chipz will launch as a sportsbook, which would enable digital casinos to set up their sportsbook as they see fit. There is even the possibility of individual users setting up sportsbooks to run bets on various events within a circle of friends or acquaintances.
Individual bookmakers would have a lot of options for how to run their sportsbooks. Bookmakers can decide the events they wish to include, set the odds for those events, choose how many gamblers can participate in each bet, and determine their fee for each wager.
Chipz has the potential to serve as the great equalizer in sports betting, especially in the United States, as more people have access to a reliable way to set up sportsbooks, take bets, and eventually profit from those transactions.
Is Cryptocurrency Gambling Safe?
The future of cryptocurrency as it pertains to online gambling is very promising, as more people understand the benefits of being entirely anonymous when they bet. Why tie your bank account or credit card to an online betting platform when you can securely buy Bitcoin, Dogecoin, or another cryptocurrency instead?
There is no risk associated with using digital currencies for betting purposes. You may have to watch the price of cryptocurrencies, as they tend to fluctuate significantly. Still, you cannot get in any legal trouble if you add money to an online casino using Bitcoin.
Gamblers who are savvy about buying and selling Bitcoin can profit in two ways when they play online casino games. They can win money at the casino games and earn a profit when they eventually convert back their Bitcoin winnings into U.S. Dollars or any other currency.
How to Win More at Online Casinos
Whether you are using Bitcoin, Dogecoin, the upcoming Chipz system, or regular currencies to wager on casino games or sports events, your goal is to make money and have fun.
Winning more at online casinos is possible if you focus on the few games where you excel, play strategically, and do not take unnecessary risks with your bet.
Skill games such as blackjack and poker represent the best chance to win consistently, as good players can “game” the system to ensure they are profiting every day they play.
Even if you are a fan of casino games such as slots or roulette, you can improve your chances of profiting by seeking out the games that have the best payout options. Progressive slots are appealing with their ever-increasing jackpots, while games that have a lot of bonus rounds and free spins are also an excellent way to invest your time.
Bet on Sports With Crypto
Aside from gambling on casino games, you can even place wagers on sporting events using cryptocurrencies. Find an online sportsbook that accepts Bitcoin or other digital currencies, load money onto your account, and bet on sports you already follow.
Sports betting is very strategic and can easily lead to significant profits, provided you do your research and bet with your head, not your heart.
Bet Securely With Cryptocurrency Casinos
Gambling with cryptocurrencies has exploded in popularity over the past year. More people are aware of the privacy risks when they link their bank account to a casino, which is why paying anonymously through Bitcoin or Dogecoin is the preferable option.