Bitcoin Wallet For Gambling
Just like with physical, fiat currency, when you’re planning to get a bit of Bitcoin SV to make purchases, or potentially gamble with, it’s a good idea to keep it in a wallet. Up to 5BTC + 250 Free Spins. ALL Bitcoin Casinos. Welcome to BitcoinCasinosOnly.com! We provide you with trustworthy and latest information regarding Bitcoin casino and gambling. It is a new and dedicated genre of casinos where a player can gamble using Bitcoin in place of traditional money. Simply put, a Bitcoin wallet is a place for a user to keep the Bitcoin they buy. It is an essential part of the Bitcoin experience, and it is an important barrier keeping you safe from potential hacks. Bitcoin wallets are a bit like a bank account in some ways. When it comes to using bitcoin to pay for online services, products or to gamble, having a bitcoin wallet is an essential part of the deal. There are dozens of different bitcoin wallets to choose from, many of which claim that they’re the perfect choice regardless of circumstances. This isn’t true. In fact, choosing a bitcoin wallet for gambling has to be done with care, in order to ensure that your coins remain safe.
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The strict online gambling regulations in the USA make the life of local players tough.
Fortunately, there are some gambling sites on the internet that are safe and accept US customers.
One of the best of them is Bovada. Among the many reasons I like the site so much is the opportunity to use cryptocurrencies and Bitcoin, in particular.
This is one of the fastest and most reliable payment options for US players. If you haven’t tried it before, I think you should give it a shot.
This post will help you learn more about depositing at Bovada with Bitcoin and the exclusive BTC bonus for new customers.
Also, I will share some recommended wallets for crypto and look at other US betting sites that accept Bitcoin.
Let’s start with a simple explanation of how to join Bovada and make a deposit with Bitcoin.
If you don’t have an account with Bovada, the first step would be to join the site. Please click here to get started. Orread our Bovada review if you want to know about the site first.
Once you’re on the site, you can start the registration process via one of the many “Join” and “Join Now” buttons on the home page.
You will be required to fill in some personal information like your name, address, email, country of residence, and similar. You also need to pick a password that you will later use to log in.Make sure to make it complicated so that no one can guess it.
The first thing that will happen after you open a new account is that Bovada will ask you to pick a 4-digit PIN that will be used to verify you later on when you decide to request a withdrawal.Make sure to remember the one you fill in.
Once you’re done, it’s time to visit the deposit section. You can do that by clicking on your balance in the top right corner of the screen. A huge “Deposit” button will appear, and it leads youto a screen where you can pick the payment provider you wish.
Bitcoin is on top of the list, so click on it. The next step is to get the Bitcoin address generated by Bovada and send BTC from your own wallet. If you don’t have one, I will share a couple ofrecommendations for a reliable option later in this post.
Within a minute after you send the money, it will appear in your Bovada account. You shouldn’t forget to take full advantage of the $5,000 Bitcoin bonus of the gambling site.
The biggest welcome bonus of Bovada is for Bitcoin users. You can get up to $5,000 in free cash on your first four BTC deposits.
Bovada will give you a 50% first deposit bonus of up to $500 when you add funds with Bitcoin for the first time. This means that a deposit of $1,000 will be enough for you to claim the fullamount.
There are certain terms and conditions you should be aware of. The Bitcoin bonus is available for the Bovada sportsbook, racebook, and casino. You can’t use it on the poker tables.
You need to wager the bonus 5 times in the sportsbook or the racebook. If you decide to use it in the Bovada Casino, you have to wager the Bitcoin bonus 30 times.
If you request a withdrawal before meeting the wagering requirements, you will lose the Bovada bonus.
Three 100% Bovada Bitcoin Casino Bonuses of up to $1,500 each
If you are a casino player, you can have another three Bitcoin Bovada bonuses. Each of them is worth 100% of your deposit of up to $1,500 and can’t be used in any of the other sections of Bovada.
The following terms and conditions apply.
- Only deposits of $1,000 or more qualify for the Bovada Casino Bitcoin bonuses
- You need to wager every bonus 25 times prior to withdrawal
- Only slots and specialty games contribute 100% of the stakes placed towards the wagering requirements. Bets on products from other categories count for up to 20% of the value
- Bets on live dealer games and craps don’t count towards the wagering requirements
- If you request a withdrawal before clearing a bonus, you lose it, as well as the winnings from it
If you are not entirely sure if you should use Bitcoin for betting online, you should learn the advantages and disadvantages of the cryptocurrency. Let’s start with the positive sides.
Using Bitcoin is one of the fastest ways to withdraw your money from almost every betting site on the internet, and Bovada is not an exception. You can get your cash within 48 hours most of thetime, which is superb, especially for the USA.
Compare that to the 3-14 business days required for most of the other popular options, and you will see what I mean. If you want fast payouts, Bitcoin can certainly deliver.
Some of the banking methods available at Bovada come with fees. That’s not the case with Bitcoin.
The gambling site covers all the fees for the transactions, so both the deposits and withdrawals are free for the users.
There’s no full anonymity, but Bitcoin allows many options for more privacy in comparison to other payment providers.
The decentralized nature of the cryptocurrency means that every transaction remains in the blockchain, but there are no institutions like banks and governments that keep a detailed record ofevery person.
While I see Bitcoin as a mostly positive experience, there are certain downsides of using the cryptocurrency.
The exchange rate of Bitcoin is constantly going up and down. While you could control that to an extent by using wallets that support fiat currencies too, you can’t completely nullify thevolatility.
For example, you may place a bet, win it, and still lose value because the price of Bitcoin has dropped in the meantime.
On the bright side, the opposite could happen, too. You might actually end up winning way more thanks to the nature of the currency.
While Bitcoin is no longer some shady concept that is unknown to the masses, it’s still a bit complicated for most users. Understanding how everything works might be difficult for a lot ofpeople, so it would take time and energy to learn how to operate with Bitcoin.
The good news is that some of the wallets I recommend in the next section are among the easiest to use out there. If you think that would be important for you, make sure to check them out.
Recommended Wallets for Depositing Bitcoin at Bovada
Some of you probably already have a wallet for Bitcoin, so you don’t really need help in this regard. Others might just be entering the world of crypto, so it would be a good idea to receive sometips first. I will share a couple of reliable wallets but also explain how I selected them.
This will help you find one on your own if you prefer to conduct separate research.
Let’s start with some general advice for picking a Bitcoin wallet for gambling purposes. I always explore the following aspects of any service.
- Safety
- You should always pick companies that can be trusted. The safety of your money is the top priority of the selection process, so make sure to check the reputation of each wallet and theexact way the information is stored and protected
- User experience
- One of the downsides of using crypto is that it’s not exactly a piece of cake for beginners. Fortunately, most wallets nowadays are much easier to use compared to a couple of years ago
- Country
- Using Bitcoin for gambling purposes from the USA could be an issue. If the wallet you are using is owned by a company in the US, it might be monitoring your activities. A lot of peoplehad their wallets shut for that reason. There are plenty of legit wallets based in countries where crypto is a grey area. I recommend that you stick to them, and there will be no issues
- Fiat currencies
- One of the biggest downsides of using Bitcoin for gambling purposes is the high variance in the price. It goes up and down constantly. If you want to avoid big losses, you should pick awallet that lets you keep your money in a fiat currency like US dollar or euro. That way, you won’t care what’s going on with the price of Bitcoin
If you want to learn more details about the different types of wallets, I recommend that you visit the page below. It features plenty of useful information on the topic.
What Types of Bitcoin Wallets Are Available?
Before I move on to my actual recommended Bitcoin wallets for betting, I would like to share a couple of words about the different types you could get. They all have their advantages anddisadvantages.
- Web wallets
- As the name suggests, you can go to the internet and find various sites that offer such a service. Some have a cloud-based platform, while others are basically exchanges that includewallets to their service. They are easy to use and require less time, but the security level is lower compared to some of the other options
- Desktop wallets
- Another solution would be to download a desktop wallet. You simply need to install additional software to your computer. While people believe this is a safer approach compared to webwallets, you need to secure your computer well if you pick a desktop wallet
- Mobile wallets
- You could also use a mobile app that would serve as your wallet. The logic is similar to desktop wallets, but this time, you add the software to your phone or tablet instead of yourcomputer
- Hardware wallets
- The most secure way to store Bitcoins and other crypto would be to use a hardware wallet. That’s an external device that holds all of the information offline. You can connect the deviceto a computer when you need to move your money, but that’s it. The extra security comes at a cost, though, as the hardware wallets are the most expensive and rather hard to use
My recommendation to beginners would be to try one of the first three types of wallets first. If you like Bitcoin and you decide to invest more for some reason, explore the hardware options.
I will share my top choice for each group above, though, so it’s up to you. All of the recommended Bitcoin wallets can be used to deposit and withdraw from Bovada and other online bookmakers thataccept Bitcoin.
Let’s start with my recommended web Bitcoin wallet for gambling purposes. A lot of people think Coinbase is the place, but not for US players. You will most likely get your wallet closed, as thecompany is based and regulated in the USA.
Instead, you could give GreenAddress.it a shot. The platform is easy to use and has a flawless reputation. It’s one of the best for beginners out there, and there are some extra layers ofsecurity such as two-factor authentication options, the option for a hardware wallet, and others.
If you are looking for a solution that’s easy, safe, free, and fast, GreenAdress.it is a solid choice.
I was a bit torn on which desktop wallet to recommend, but Electrum gets the nod. It’s one of the safest desktop wallets thanks to some excellent encryptions and other measures designed toprotect your money. For instance, you can use a second computer that stays offline as storage.
At the same time, Electrum is completely free and one of the easiest desktop Bitcoin wallets to use. Even people with no experience with crypto should be able to quickly learn how to comfortablyhandle the software.
The good news is that Electrum is also available on iOS and Android. Feel free to visit the website of the wallet and learn more foryourself.
There are plenty of options on mobile, but I like Mycelium the most. That’s one of the earliest mobile wallets for Bitcoin out there. Initially, it was only available on Android, but you can nowuse it on iOS too.
Mycelium offers multiple features that provide security to your account. A good example is the “Watch Only” mode that allows you to view all activities while the transactions are disabled.
One of the downsides of Mycelium is the outdated design, but the user experience is still decent, and the app is certainly among the best mobile Bitcoin wallets on the market.
You can see the download options here.
The undisputed leader among hardware Bitcoin wallets is Trezor.io. If you want the best and most secure option on the market, that’s it. You can buy the device from various places, includingAmazon. It’s the only paid option on my list, but it’s worth the $70-80 you have to spend.
The Trezor.io device can be connected to Windows, Linux, iOS, and Android, so you can use it with pretty much every mainstream OS out there.
Another advantage is the encryptions implemented by Trezor.io that make sure your password is secure. You can easily restore your money if something happens, too, so this is the full package.
If you want one, Amazon is one of the places you can get it.
Other Betting Sites That Offer Bitcoin to US Players
Bovada is my top choice for a betting site that works with Bitcoin and accepts US players, but there are other trusted sportsbooks that do the same.
All of them offer a reliable service and a bunch of gambling products, including a sportsbook, a casino, and a racecard for horses.
If you have never tried Bitcoin for sports betting and you are in the USA, you are missing out. The cryptocurrency provides a reliable and fast way to gamble online.
I would recommend you to at least give it a try. Bovada is probably your best option, but the other gambling sites mentioned here would be an excellent choice too.
When the subject of paying for online services, purchasing products, or gambling with cryptocurrency comes up, having a trusted crypto wallet is necessary. There are tons of crypto wallets available for users to choose from, and many of them boast of being the perfect alternative. However, this cannot be considered a fact, especially when picking the right crypto wallets for gambling. You need to carefully choose a wallet that guarantees coin safety, an open account, and no issues of anonymity.
Usually, there are two wallet types available to you. The first category of crypto wallets has to do with those that allow users to have direct and complete control over their digital currency. The second category of wallets allows third-party control over your digital currency assets.
Of course, both wallet types come with their unique pros and cons. However, it is more advisable for gamblers to opt for a wallet that lets them control their cryptocurrency.
Before signing up with the best online casino website, keep this in mind: Online wallets like Circle and Coinbase are based in the U.S. This automatically means that they are well regulated. Also, there is a great chance that your crypto account will be terminated if they discover that you have sent some funds to a gambling site.
Online gambling is a well-known legal grey area in many countries worldwide; thus, it is mostly recommended that you opt for a wallet without a KYC/AML procedure. Opting for such a wallet allows you to gamble anonymously.
There are 4 primary types of wallets – Desktop, Mobile, Hardware, and Web Wallets. All of the wallets we have listed below are perfect for online gambling as you control your cryptocurrency. No third-party will censor your transactions.
- MOBILE WALLETS
Mobile wallets provide users with many great benefits over their peers. Most mobile wallets come with a camera feature, which allows you to scan QR codes. This feature makes it relatively smooth for users to make deposits and withdrawals as no time is wasted writing or copying your crypto address.
Bitcoin Gambling Website
Smartphone wallets are also safer as the possibility of getting a virus or a keylogger on your smartphone is much lower than on your PC or desktop computer.
- DESKTOP WALLETS
While desktop wallets are generally considered safe, malware attacks can occur if users do not carefully protect their computers. If you must use this for gambling, please do so with caution.
- WEB WALLETS
Online Bitcoin Gambling
Web Wallets are quite popular. They can be accessed using any smart device. The user is treated like a king as web wallets can be accessible when and where you want.