When it comes to playing online casinos games, there are plenty of great new sites to try out that offer innovative new ways to play. These days, players seek secure ways to play and recently we have been checking out some of the new Bitcoin casinos that are now live on the market. You may or may not be aware of new Bitcoin casinos but basically, they are sites that accept payments by Bitcoin. The Bitcoin is a digital currency that has been live since 2009 and is currently valued at over £1500 a coin.
New Bitcoin Casinos & How they Work
Essentially, the new Bitcoin casinos that are now on the market are simply sites that can be used to play casino games with Bitcoin as the main currency. You can use the new Bitcoin casinos to play games such as slots, poker, blackjack and much more but how exactly are winnings credited and withdrawn if they are offered in Bitcoin? It’s basically a two way process and players should be aware of how to both deposit and withdraw from these sites to play on them successfully.
Winnings will be credited in Bitcoin so withdrawing them means that you will be withdrawing Bitcoin as well. To withdraw your winnings from new Bitcoin casinos you will need what’s known as a wallet. This is a software application that can be downloaded directly from the web or app store from your mobile device. The chances are that if you’ve deposited to new Bitcoin casinos then you will be aware of how to deposit on these sites as well. The wallet can be used to both deposit and withdraw which is great. Sending the Bitcoin too and from each address is easy once you know how.
Withdrawing from New Bitcoin Casinos
To make the withdrawal you have to take your winnings and use the Bitcoin wallet on the site to physically send the funds to the address indicated on your own mobile device. This will allow you to make the physical withdrawal in Bitcoin casino. However, your new Bitcoin casinos Bitcoin winnings will still be in Bitcoin currency so you will need to find a way to convert them into real cash. This can be done on a Bitcoin exchange by selling the Bitcoin to others for real cash.
Then you will be able to sell your Bitcoin and you will have the cash instead. Of course, with new Bitcoin casinos and other sites that use Bitcoin, the cryptocurrency is highly volatile and can fluctuate in price. Indeed, it is not uncommon for the Bitcoin to rise and fall in price by over £100 daily. The key is to keep an eye on it and try and get the best price possible. With new Bitcoin casinos you will be offered a specific exchange rate every day when you deposit and this will be based on the Bitcoins market value.