When it comes to online gambling, banking options are one of the most critical factors you should research before signing up with a new online casino site. While the old saying goes, “All casinos are the same,” the saying does not apply when discussing online casino banking options; in fact, they are vastly different.
The fastest-paying online casino sites typically employ some digital currency. Bitcoin is the most popular crypto widely accepted at online gambling sites, followed by Ethereum and Bitcoin Cash.
Below, we will discuss the multiple banking options found with legitimate online casinos and why you should deposit with crypto if you want bigger bonuses and faster deposits and withdrawals.
Is Bitcoin A Legit Banking Option For Online Casinos?
Yes, Bitcoin is the preferred banking method for many US gamblers as it provides fast transactions, typically no fees and a player’s banking information doesn’t have to be stored on the site. With just a few clicks, you can immediately fund your online casino account with Bitcoin and wager.
Bitcoin processing times range from a few minutes to 24 hours, but most players find that the transactions are almost instantaneous. Powered by blockchain technology, Bitcoin depositors can rest assured that their transactions are fast and efficient.
What Are Traditional Casino Banking Options?
Traditional banking options for online casinos include credit/debit cards (VISA, MasterCard, American Express), Prepaid cards, wire transfers, and e-checks. While all the options mentioned above are available, fees and limitations can occur depending on your chosen method.
As the popularity of digital assets increases, traditional banking methods are becoming less valuable due to their processing times. Since we live in a world where instant gratification is often required, digital currency is there to meet those needs.
How Can I Fund My Online Gambling Account With Bitcoin?
Once you set up your digital wallet, you will receive a wallet address where you can receive or send digital currency. You can copy and paste the send code and the amount you wish to send to the online casino of your choice. Once you receive confirmation of your transaction, you will see the funds reflected on your account balance.
Players who deposit with Bitcoin or other altcoins can also receive crypto withdrawals. To receive withdrawals, you will have to input your recipient address/code. Once you have requested the withdrawal, all you have to do is paste your recipient address and wait for the funds to reflect in your e-wallet.