We live in a world where cryptocurrencies, the world’s new financial tools, are taking over industry by industry.
After the massive adoption of cryptocurrencies, especially Bitcoin, in the past couple of years, most industries started digging into this subject just to avoid being left out from this money-crazy fantasy.
When it comes to the casino industry, and games like blackjack there are plenty of casinos that support cryptocurrency. And if you are a newbie on blackjack, check here the best basic blackjack strategy guide by TwinSpires.
Anyway, the short answer is, YES! You can definitely play blackjack with Bitcoin.
But if you want to learn more about this new way of gambling, here are some things you need to understand before transferring all your crypto assets.
How Does Bitcoin Blackjack Operate?
Blackjack in casinos that support Bitcoin wagering is no different than the regular version. The game remains the same, and the only difference from traditional Blackjack is the way you handle your assets.
When it comes to starting at a Bitcoin casino, here are the steps you should take.
Get Bitcoin from an Exchange
Before you can start playing Blackjack with Bitcoin, you need to fund your account. You cannot buy cryptocurrencies from online casinos, which is why you need to go to an online crypto exchange.
There are plenty of crypto exchanges where you can purchase your Bitcoin, and the most important thing to consider is the transfer fees. Most exchanges have transfer fees for moving your Bitcoin off the exchange, some even don’t allow such action.
The goal here is to find an exchange where you can buy Bitcoin with fiat and get the smallest transfer fee.
Deposit Bitcoin at the Casino
Once you sign up on an exchange to purchase your Bitcoin, you’ll have your digital wallet where the crypto will be stored. In order to transfer your Bitcoin to the casino, you need to know both of the digital addresses.
You should sign up at a casino and obtain your digital address. Copy and paste the address on your exchange and that’s it. Transfer times vary due to how loaded is the network, but you should be able to get your Bitcoin in a few hours.
When it comes to playing Blackjack with Bitcoin, there are a few things you need to understand. Some casinos decide that your deposits are in Bitcoin and your wagers in fiat just because of the high value of Bitcoin. For example, if you want to make a $30 wager, you need to place 0.00067 BTC on the table.
Wagering with Bitcoin can be difficult to understand and since the asset is very volatile, you don’t get the sense of how much you are wagering.
This is why most Blackjack Bitcoin tables allow you to wager with fiat currencies while having your deposits in Bitcoin.
Why Bitcoin Blackjack Games Are So Popular?
Well, casinos that allow wagering with cryptocurrencies solve many problems for people.
Avoiding Banking Problems
Most people are limited when it comes to depositing money to an online casino or withdrawing their winnings due to banking regulations or availability. Using Bitcoin will surpass this problem as your finances are easily manageable between the casino and your exchange.
Another reason why Bitcoin Blackjack games are so popular has to do with the attractiveness of Bitcoin bonuses. With the Bitcoin price sitting at $44,430 at the time of writing, getting even a 0.1 BTC is highly valuable.
Even though there are fees for moving your Bitcoin from an exchange and withdrawing your funds back, the fees are usually small and less than 1% of the total money being moved. This is a big difference, especially if we compare to traditional e-wallets or credit cards that take usually take from 3% to 5% fee.
This means that the fees won’t burn much of your bankroll and you’ll have more money for playing Blackjack.