How to Buy Bitcoin for Online Gambling

Binance

Binance is most likely the most prominent Bitcoin exchange globally for online gambling (we’re excluding Coinbase here as it’s not suitable for use with Bitcoin casinos). Not only is Binance incredibly well-respected, but it’s also heavily regulated, ensuring that your coins are safe when you choose to store them there.

Unlike many Bitcoin exchanges, Binance allows users to sign-up and make an account without having to undergo a know-your-customer (KYC) check, which is ideal for those who don’t want to actually buy crypto and only want a Bitcoin wallet to use as an intermediary between their other wallet and online Bitcoin casinos.

Binance offers a vast selection of cryptos, too, so you won’t just be limited to playing with Bitcoin. While this page focuses on Bitcoin gambling and Bitcoin casinos, today, there are online casinos that accept a whole host of cryptocurrencies. If you have a Binance account, it’s good to know that you’ll easily be able to buy other cryptos later down the line if you so choose to do so.

What’s more, if you do decide that you want to do more than make Bitcoin transactions by buying and selling crypto at Binance, you’ll also be able to take advantage of their state-of-the-art verification software. This software allows you to complete a know-your-customer (KYC) check instantly, and their software automatically verifies you, so there’s no waiting time whatsoever!

Kraken

Kraken is another hugely popular crypto exchange that’s well-known in the online gambling world. It can be used at Bitcoin gambling sites, and Kraken also happens to be one of the longest-running crypto exchanges out there, first established in 2011.

Kraken is notable for several reasons, but they’re best-known for the fact that they were the first crypto exchange to have their volume and trading prices displayed directly on the Bloomberg Terminal, a major step forward in the world of crypto gambling. In addition to this, Kraken was also the first major crypto exchange to pass what’s known as a proof-or-reserves audit, which ensures that user funds are safe and secure even if the company goes insolvent.

When it comes to the services Kraken provides, they specialize in Bitcoin. However, they have recently added support for several other cryptocurrencies too, and they’re known for their low fees, which attracts many high-volume traders to their platform. They also use cold storage to hold the vast majority of their crypto holdings, and this ensures that your crypto is safe; even if the site were to get hacked, only a small amount of crypto would be able to be stolen; the rest would be protected in cold storage.

Unfortunately, at the time of writing, Kraken is only available in the UK, US, Canada and Japan – but they’re looking to expand into more markets in the future, and we’re confident we’ll see more Bitcoin exchanges like Kraken allowing users from around the world to buy Bitcoin.

Bittrex

Bittrex is one of the world’s biggest crypto exchanges, and it was initially started with the intention of allowing users to trade cryptocurrency pairs. The site was founded back in 2014 by a collective of engineers. Some of these entrepreneurs had previously worked in cyber security for companies like Microsoft and Amazon, so it’s fair to say they knew what they were doing.

Soon after its launch, Bittrex became one of the world’s leading crypto exchanges, and it also became one of the best-known names in the industry. Thanks to its proprietary business model, it allows for transactions to be processed almost immediately. However, users do need to complete a know-your-customer (KYC) check as part of their regulatory requirements.

Initially, the only way to buy crypto through Bittrex was to trade crypto you already owned; this means that you couldn’t buy crypto through the crypto exchange itself. However, this changed earlier this year, and it’s now possible to purchase digital currency using fiat currency options like GBP and USD.

While Bittrex doesn’t feature the most user-friendly user interface, the site does what it says it does, and we find it relatively easy-to-use, even if it does look a little dated at first.

Bisq

The principle of Bitcoin is that it provides open and free entry to a monetary unit. Banking products, such as a checking account, are only available if you have a legally valid government-issued identity. This step is not essential with Bitcoin, as it may be accessed independently of country or locality and without any verification.

Although many will claim that this ease of access opens the door to criminal conduct (the same can be said of handling cash), it also provides individuals in less-developed banking institutions with rapid access to units of account. Millions of people worldwide do not even have access to bank accounts or the ability to trade because their governments lack the necessary economic systems, or the individuals do not have a government-issued identity. When combined with a cryptocurrency platform like Bisq, Bitcoin can become a useful option in these situations.

Bisq is a downloadable program and peer-to-peer autonomous crypto exchange. That means that Bisq, like Bitcoin, has no single point of failure and thus cannot be taken down. Bisq is non-custodial, which means that no one besides the user touches or manages the user’s funds.

This aspect contrasts with centralized exchanges like Coinbase in that Coinbase maintains the user’s assets in a custodial account for which the client does not have the secret keys. In such a case, Coinbase has the power to suspend your account if it considers your account activity suspect, regardless of whether the behaviour is truly unlawful in your region.

Bisq is instantaneously available to everyone with a smartphone or computer because there is no registration procedure or KYC rule. This makes it suitable for anyone seeking privacy, dissidents living under hostile regimes, or anybody lacking a government-issued identity.

Bisq allows you to trade a variety of currencies, including Dollars and bitcoin, as well as many cryptocurrencies. Its autonomous and peer-to-peer nature can result in low trade volumes and delayed transactions, although this is definitely worthwhile for some.

LocalBitcoins

LocalBitcoins is, without a doubt, the most popular P2P marketplace, and it’s commonly used for those looking to buy the digital currency to use at their preferred online gambling site. Many of the top Bitcoin casinos actively recommend that their players use LocalBitcoins as it’s easy to get started.

LocalBitcoins has listings from thousands of different sellers, so there’s very little chance of you failing to find an offer that suits your personal preferences. For example, if you’re looking to buy Bitcoin for online gambling, you can simply join LocalBitcoins and choose an offer you like the look of, and within an hour, you have the coins in your Bitcoin wallet ready for transfer to the online casino!

What’s more, as LocalBitcoins has so many different sellers, you can often find much better prices than you’d find at conventional crypto exchanges. You also have complete control over the price you buy the coins for, so if you’re looking to maximize your earnings from Bitcoin gambling, it’s a great place to get your coins.

Unfortunately, LocalBitcoins doesn’t allow you to link your bank account yet, and when you make a purchase, you’ll be dealing directly with the seller. Bitcoin transactions sent from LocalBitcoins also can’t have an adjustable-fee set which is something we’d like to see the site implementing in the future. Still, LocalBitcoins is one of the best choices for buying coins for Bitcoin gambling, and we strongly recommend the site!

LocalCryptos

LocalCryptos is a non-custodial P2P marketplace that makes it easy for users to buy and sell a wide variety of cryptocurrencies; at the time of writing, they support Bitcoin, Bitcoin Cash, Dogecoin, Litecoin and Ethereum. Registration is completely anonymous (all you need is an email address or phone number), and once you’ve opened your account, you’re free to open a trade with one of the sellers on the site and begin buying crypto.

Today, LocalCryptos is available to users in more than 130 countries, and the site offers support for some 40 different payment methods! This makes it easy to get started with Bitcoin gambling as you can buy and sell your crypto in your preferred manner, and thanks to the anonymous nature of the site, it’s an excellent option for those who are privacy-conscious, too.

Of course, one of the biggest advantages of using LocalCryptos is that the site doesn’t store your coins, nor does it have access to your wallet. You have full control at all times, which means that even if the site were to be hacked or thieves managed to get into the back-end, your coins would be safe, provided you keep your private key(s) safe.

Once you make a Bitcoin deposit at LocalCryptos, the funds appear immediately, so it’s also a great place to sell Bitcoin if you manage to hit a nice win at a Bitcoin gambling site!

Another benefit of playing at LocalCryptos is the fact that they have very low fees (as little as 0.25%), which means that you’ll be able to get a lot more for your money when compared to some of the more conventional crypto exchanges and P2P marketplaces you’ll find out there today.

While there’s no mobile app available, and while LocalCryptos’ website isn’t the most modern, it’s relatively easy-to-use and easy-to-navigate, and, as we mentioned, signing up takes just a couple of minutes. Therefore, it’s a good option for those wanting to get started quickly and easily.