How To Buy Bitcoin For Gambling
While most casinos allow you to try out their games prior to making an actual deposit, knowing how to buy bitcoin is an essential part of gambling with bitcoin. There are already hundreds of different sites that offer comprehensive lists and reviews of most popular bitcoin exchanges and brokers. With literally hundreds of options to choose from, selecting a means to buy btc can be a daunting task. For this reason we have decided to create a curated list of the most popular, safest and easiest to use methods of buying bitcoin, which can be used by gamblers in the United States, Australia, the United Kingdom, Asia, Europe and worldwide.
BITCOIN EXCHANGES
Exchanges are the most convenient ways of buying bitcoin, thanks to their intuitive user interfaces and fairly low commission fees. An important tip when buying bitcoin from an exchange is to avoid sending the money to the casino, sportsbook or poker room directly from the BTC exchange wallet. Bitcoin exchanges in the USA are regulated so they are not permitted to process gambling related transactions. Because of this, it is essential for users to send their bitcoin to an intermediary wallet prior to depositing it a bitcoin gambling site.
Coinbase.com - 0.25% to 1% Fee
Founded in the summer of 2012, GDAX (formerly Coinbase exchange) is one of the most popular bitcoin wallets and exchanges. With over $3.5 billion worth of bitcoin exchanged, 4 million customers served and support for 32 countries, there’s no doubt that GDAX is one of the best exchanges around.
Their services include a mobile wallet, insurance protection, secure storage, recurring buys, full control over your funds alongside with an instant exchange feature. It’s also worth pointing out that GDAX has over 6 millions wallets registered, is used by 43,000 merchants and works with over 8,000 app developers.
Some of the countries that Coinbase/GDAX support include the United States, the United Kingdom, Canada and most European countries. Currently, Singapore is the only country supported in Asia.
Kraken.com - 0.16% to 0.26% Fee
Kraken is another popular Bitcoin exchange, founded in 2011. It is one of the largest bitcoin exchange in terms of its euro volume trading. Kraken became the first Bitcoin exchange to have their volume and trading prices displayed on the Bloomberg Terminal, while also becoming the first exchange to pass a proof-or-reserves audit. In terms of their services, Kraken offers fast funding, low fees, encrypted cold storage, bitcoin margin trading, advanced order types, 24/7 support and much more. Additionally, they not only trade bitcoin, but also in other digital currencies like Litecoin (LTC) and Ether. Kraken is currently available in the US, UK, Canada, Japan and are expanding rapidly into other regions
BTCC.com - 0.0001 BTC Fee
BTCC is a Chinese company that offers exchange services, payment processing, consumer wallets, a mining pool and blockchain engraving. This, combined with their low commissions, professional team and security practices (offline cold storage, SSL encrypted traffic, real-time internal controls and more) make them an extremely popular bitcoin exchange. BTCC is one of the top 5 btc exchanges in terms of volume. BTCC have customers in dozens of countries, including the United States and China.
Cointree.com.au - 2% Fee
Gamblers who wish to buy bitcoin in Australia have a number of choices, the most popular being the Cointree exchange. It offers a simple, secure and trustworthy place for Australian gamblers to buy and sell bitcoin. Its main features are low commission prices, easy-to-use interface, zero sell fees, proof of balance and more. Their customer support is also top notch, thus making it a perfect service for those who are just starting out with the digital currency.
BITCOIN BROKERS
Circle.com - 1% Fee
Another way to purchase bitcoin is through an online broker. Brokers are a great way for casual gamblers to quickly and easily buy bitcoin in the United States and elsewhere. One such example is Circle, which allows customers in the United States to purchase the digital currency via debit cards, credit cards or bank transfer. Bitcoin brokers in general do come with pros and cons. In the case of Circle, its pros include instant delivery of the bitcoin purchased via credit cards and the fact that it is an easy way for newbies to get their hands on some crypto-currency. However, its cons include the limitation of $300 worth of bitcoin purchases per week, the fact that sends count towards the buying limit and the fact that overcoming the $300 threshold requires extensive verification.
LOCAL BITCOIN
LocalBitcoin.com - Free to 1%
Services such as Local Bitcoins are yet another easy way to purchase the BTC crypto-currency for sports betting, poker and casino gaming. It consists of talking to actual people who are buying or selling bitcoin in your area, negotiating a price and then making the transfer. While prices are often cheaper than you will find on an exchange, there’s also greater risk of scamming, considering the fact that Local Bitcoins does not serve as a broker for its transactions. There are also times when sellers will ask to meet in person for more security, which can be an inconvenience if you need to purchase BTC on a regular basis.
BITCOIN ATMs
Last but not least, bitcoin sports betting, casino and poker enthusiasts can also use Bitcoin ATMs (also know as BTM's). Average BTM fees are around 7% so they are the most expensive way to acquire bitcoin. These are generally safe, but travelling to their location can prove to be a little inconvenient. Some ATMs require users to scan their ID cards, thus making anonymity an issue. There are also situations when the amount that can be given out is limited, so while this method is a secure way of purchasing digital currency, it’s not going to suit every online gambler.
BITCOIN EXCHANGES
Exchanges are the most convenient ways of buying bitcoin, thanks to their intuitive user interfaces and fairly low commission fees. An important tip when buying bitcoin from an exchange is to avoid sending the money to the casino, sportsbook or poker room directly from the BTC exchange wallet. Bitcoin exchanges in the USA are regulated so they are not permitted to process gambling related transactions. Because of this, it is essential for users to send their bitcoin to an intermediary wallet prior to depositing it a bitcoin gambling site.
Coinbase.com - 0.25% to 1% Fee
Founded in the summer of 2012, GDAX (formerly Coinbase exchange) is one of the most popular bitcoin wallets and exchanges. With over $3.5 billion worth of bitcoin exchanged, 4 million customers served and support for 32 countries, there’s no doubt that GDAX is one of the best exchanges around.
Their services include a mobile wallet, insurance protection, secure storage, recurring buys, full control over your funds alongside with an instant exchange feature. It’s also worth pointing out that GDAX has over 6 millions wallets registered, is used by 43,000 merchants and works with over 8,000 app developers.
Some of the countries that Coinbase/GDAX support include the United States, the United Kingdom, Canada and most European countries. Currently, Singapore is the only country supported in Asia.
Kraken.com - 0.16% to 0.26% Fee
Kraken is another popular Bitcoin exchange, founded in 2011. It is one of the largest bitcoin exchange in terms of its euro volume trading. Kraken became the first Bitcoin exchange to have their volume and trading prices displayed on the Bloomberg Terminal, while also becoming the first exchange to pass a proof-or-reserves audit. In terms of their services, Kraken offers fast funding, low fees, encrypted cold storage, bitcoin margin trading, advanced order types, 24/7 support and much more. Additionally, they not only trade bitcoin, but also in other digital currencies like Litecoin (LTC) and Ether. Kraken is currently available in the US, UK, Canada, Japan and are expanding rapidly into other regions
BTCC.com - 0.0001 BTC Fee
BTCC is a Chinese company that offers exchange services, payment processing, consumer wallets, a mining pool and blockchain engraving. This, combined with their low commissions, professional team and security practices (offline cold storage, SSL encrypted traffic, real-time internal controls and more) make them an extremely popular bitcoin exchange. BTCC is one of the top 5 btc exchanges in terms of volume. BTCC have customers in dozens of countries, including the United States and China.
Cointree.com.au - 2% Fee
Gamblers who wish to buy bitcoin in Australia have a number of choices, the most popular being the Cointree exchange. It offers a simple, secure and trustworthy place for Australian gamblers to buy and sell bitcoin. Its main features are low commission prices, easy-to-use interface, zero sell fees, proof of balance and more. Their customer support is also top notch, thus making it a perfect service for those who are just starting out with the digital currency.
BITCOIN BROKERS
Circle.com - 1% Fee
Another way to purchase bitcoin is through an online broker. Brokers are a great way for casual gamblers to quickly and easily buy bitcoin in the United States and elsewhere. One such example is Circle, which allows customers in the United States to purchase the digital currency via debit cards, credit cards or bank transfer. Bitcoin brokers in general do come with pros and cons. In the case of Circle, its pros include instant delivery of the bitcoin purchased via credit cards and the fact that it is an easy way for newbies to get their hands on some crypto-currency. However, its cons include the limitation of $300 worth of bitcoin purchases per week, the fact that sends count towards the buying limit and the fact that overcoming the $300 threshold requires extensive verification.
LOCAL BITCOIN
LocalBitcoin.com - Free to 1%
Services such as Local Bitcoins are yet another easy way to purchase the BTC crypto-currency for sports betting, poker and casino gaming. It consists of talking to actual people who are buying or selling bitcoin in your area, negotiating a price and then making the transfer. While prices are often cheaper than you will find on an exchange, there’s also greater risk of scamming, considering the fact that Local Bitcoins does not serve as a broker for its transactions. There are also times when sellers will ask to meet in person for more security, which can be an inconvenience if you need to purchase BTC on a regular basis.
BITCOIN ATMs
Last but not least, bitcoin sports betting, casino and poker enthusiasts can also use Bitcoin ATMs (also know as BTM's). Average BTM fees are around 7% so they are the most expensive way to acquire bitcoin. These are generally safe, but travelling to their location can prove to be a little inconvenient. Some ATMs require users to scan their ID cards, thus making anonymity an issue. There are also situations when the amount that can be given out is limited, so while this method is a secure way of purchasing digital currency, it’s not going to suit every online gambler.
