₿ How do Bitcoin Transactions Work?

You then decide to withdraw your winnings and have the money transferred to your Bitcoin wallet. Because Bitcoin is not something tangible like, for example, a credit card is, you may have some reservations about paying for your online gambling entertainment with this currency. You may be questioning the legality of Bitcoin use in South Africa. While the process may differ from site to site, the general idea remains the same. 2. Visit the Banking or Cashier page at the online casino and pick ‘Bitcoin’ from the list of withdrawal methods supported by the site. Amounts will differ from site to site. As you expand your search for Bitcoin online casinos, you will come across two types and you should learn to differentiate between them. You’ll find something for everybody at Bitcoin casinos, from the last word in branded slot games to exciting table games such as blackjack and roulette. ₿ Can I play casino games for free at Bitcoin casinos? ₿ Can I play at Bitcoin casinos in South Africa? For the amateur player, who simply wants to dabble in his or her favorite game at South African Bitcoin casinos every so often, the online wallet or the software wallet should suffice.

Bitcoin to Rand: Say, for example, that you play at your favorite Bitcoin online casino and you’ve had a good run of luck. If you have a good amount of memory on your mobile device or PC, you could find that Software Wallets are the way to go. The second piece of information you need to provide is the amount you wish to deposit. But because Bitcoin is a virtual currency, you need to rethink the concept of storing your money. If you have a larger number of Bitcoins that need storing and you are concerned about their safety, you should choose a hardware wallet, although a software wallet should be completely secure as well. As the name suggests, a Hardware Wallet is a device (eg: external drive or USB) that is plugged into your computer whenever you make a Bitcoin transaction. 4. Click ‘Submit’ and the funds will be transferred to your Bitcoin wallet. You’ll be prompted to enter your Bitcoin wallet address and how much you wish to withdraw. For players who value their anonymity, this is one of the major advantages to using Bitcoin when gambling online. Bitcoin has also been accepted as a legitimate form of currency in major countries such as the United States and China.

The Reserve Bank has issued warnings about the risks associated with trading in Bitcoin but there is no actual ban on any form of cryptocurrency trading. Send and receive to and from the online casino bank. Once you’ve found a Bitcoin casino that you’d like to play at, the next move is to make a deposit into your account. This is a great way to try out the excellent games on offer and decide whether or not you want to move onto real money play and the chance to win jackpots. Bitcoin casinos partner with the best online casino software groups who constantly update their portfolios, so that new games are available all the time. They are powered only by the very best and most-reputable software groups so that the games portfolio is top-notch. Once they are in your account you can use them to play your favourite casino games at any time. The process is quick and once the casino completes the process, your funds are instantly available.

The withdrawal process is extremely simple and only requires a few steps. Not So Straightforward: To pay and play with Bitcoin requires a certain understanding about how this crypto-currency works. Bitcoin-only online casinos – Gaming sites that only allow you to pay with Bitcoin and not any other type of currency. All the online casinos that feature below are either Bitcoin-only sites or sites that accept Bitcoin as a currency, along with other currencies. Unlike physical currencies such as Rands and Dollars, Bitcoins are not tangible, printed money, but exist exclusively in the digital space. They are essentially third-party online wallets that can be accessed by players as long as they have an internet connection. These sites are fair, safe, secure, licensed and regulated. In South Africa, Bitcoin is not yet considered as an official currency but this does not mean that this is not an ingenious trade method. In South Africa, you can buy and sell Bitcoins at legal Bitcoin Exchanges.

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