Bitcoin makes it possible. So it’s no wonder that the digital currency is spreading like wildfire in the world of gambling. The best reputable BTC casino is waiting for you below and all kinds of exciting information about the popular cryptocurrency.
Best Bitcoin Casinos: How the deposit works
If you click on deposit in a crypto casino, you can select the desired method. Even if it is a casino with a Bitcoin deposit, all other classic payment methods are available in top casinos. Once you select BTC, you will be given an address (public key) that belongs to your account. You have to determine the amount you want to send to your casino account.
The transaction amount is usually given in BTC. However, to be safe, there is usually a calculator where you can enter an amount in euros, and the corresponding bitcoin equivalent will be displayed. You then go to your Bitcoin purse and enter the public key of the gambling account and the transfer amount. You also have to set the transaction fee if the wallet does not do this for you automatically.
After clicking the “Send” button, the transaction is sent to the blockchain network, which checks and executes it. An accepted payment can be found in the blockchain and is immediately considered to have been made. The credit is then available in the casino. The confirmation takes a few minutes.
Since the block time for Bitcoin is 10 minutes, you have to wait at least until the next block until your payment is listed. This is quick if there are not too many open payments in the network that do not fit into one block. In this case, the users who add the transactions to the blockchain will prioritise deposits with higher fees. Any not included transactions will remain on the network waiting for the next block.
Fees for Bitcoin payments
I have already briefly touched on the subject of fees. For transactions, the remitter has to pay a fee to the network, which is distributed as a reward to the miners for their work. In many cases, you can set the amount of this fee as you wish. But you should not forget: The higher the fee, the more likely the transaction will be added to the blockchain in the next block
However, modern wallets offer an option to calculate the fee automatically depending on the network load, so you don’t have to worry about it yourself. Furthermore, the casino itself does not take any additional fees for the deposit but must bear the fees even for a withdrawal—more on this topic in the Bitcoin Casino Withdrawal section.