Bitcoin: Cryptography within everyone's reach

In recent years, Bitcoin has become a much talked-about currency. Created from scratch, this cryptomony is becoming more and more widespread in the world today. On the Internet or even in certain shops, it will be possible for you to pay in Bitcoin. This cryptomony, whose value changes every minute, is also more and more present in the world of online casino. Many of the sites on Lucky7Bonus offer this method of withdrawal and deposit. Easy, secure and fast, this cryptogram has revolutionised the world of economics.


Deposit at Online Casinos with Bitcoin

Introduction to what Bitcoin is in the mainstream

Bitcoin is a completely virtual cryptocurrency, the value of which varies every minute. Bitcoin does not belong to anyone and you do not have to have a bank account to obtain it. In fact, more and more virtual wallets are allowing you to buy Bitcoin.

What is Bitcoin?

Bitcoin is a decentralized virtual currency, i.e. it does not belong to any organisation. An extraordinary advantage compared to our everyday currency, which is centralized in our banks.

Unlike conventional currency, the value of Bitcoin changes every minute. For example, 1 Bitcoin can be worth €7,500 and one hour after going down to €7,459 and after going up to €7,635. That's why it's important to look regularly at the variations of Bitcoin and the money you have on your wallet.

To obtain bitcoins, there is nothing simpler. All you have to do is create a virtual wallet for yourself. You'll have several wallet options to choose from. First of all, you will have the "wallets" (that's the name given to the virtual wallets) available on your computers:

  • Armory

  • Bitcoin Core

  • Bitcoin Knots

  • Bither

  • BitPay

  • Electrum

  • Wasabi

You will also have wallets available on your mobile phone, be it an Android or Apple mobile phone.

  • Bither

  • BitPay

  • BRD

  • Edge

Finally, you will also have the real wallet, i.e. you will have all your money in Bitcoin which will be kept inside a USB stick.

  • BitBox02

  • Coldcar

  • KeepKey

  • Ledger Nano S

  • Trezor Model T

  • Trezor One

Whether it's for the wallet on your PC, your mobile phone or the wallet on a USB key, the references given come directly from the website.

Of course, there are lots of other applications to exchange, buy or sell your Bitcoins, such as Wirex or Coinbase.

The advantages of Bitcoin

Truly revolutionary in the economic world, Bitcoin has many advantages.

  • The first advantage is not least the fact that Bitcoin is decentralized. This means that you will be able to exchange your money from person to person without any bank knowing about it. In addition, the transaction costs are much lower and it will be impossible for you to be taxed by the state or others, because all transactions are anonymous.

  • Bitcoin is a world currency. So whether you are in Europe, Asia or Africa, the value of Bitcoin is the same for everyone. Moreover, you will be able to exchange money with people all over the world while avoiding bank charges and all the other taxes that you may have when you decide to do the same action from a bank.

  • No one will be able to freeze your account. In fact, if you have 0 euro on your virtual wallet, this is no problem for anyone. This is a real advantage when compared to what banks offer.

  • As stated above, all your Bitcoin transactions are anonymous and no state can come and tax you for your transactions. However, if you decide to transfer all the money from your virtual wallet to your bank account, depending on the transaction, your personal bank and the state may charge you.

As you can see, when you create your own wallet, you will receive a wallet address. This address is completely anonymous and totally encrypted. It is also very easy to deposit and withdraw your money with a Bitcoin wallet. To deposit and withdraw your money, the vast majority of wallets offer the following methods. For example, if you no longer wish to have Bitcoins, sell it as 'normal' money and transfer it to your bank or PayPal account.

Note that some wallets even offer you to get credit cards with Bitcoin on them. Thus, you will be able to pay by credit card in places where Bitcoin is accepted.

The disadvantages of Bitcoin

Like all services around the world, Bitcoin also has some drawbacks.

  • Firstly, Bitcoin is a currency that fluctuates enormously.

  • As you can see, in one month the value of bitcoin can increase from €8,300 to €10,000. A variation that it is impossible to predict what makes this currency very volatile. It can make you make a lot of money as well as lose a lot of money. However, it is not because the value of Bitcoin is falling that you need to sell it. Fluctuations are unpredictable and the Bitcoin you sell when it goes down could be worth double a few weeks later.

  • You have to be very careful with your virtual or real wallet. If you opt for a UBS key, be careful not to lose it, as it will be impossible to recover the money you have on it unless you find it again. Also, be careful not to have your wallet information stolen, as all transactions made from a wallet are impossible to cancel.

  • This is the last negative point of Bitcoin. As written previously, it is impossible to cancel a Bitcoin transaction. If one day you decide to give money to person A, but inadvertently transfer your money to person B's account, you cannot cancel your transaction. This is why you should always be careful if you want to make a transaction from your wallet.

Where to play online casino with Bitcoin?

Nowadays, most casinos accept Bitcoin deposits and withdrawals. However, the online casino market has a large number of casinos that are far from respecting the laws and therefore some of these casinos may put your money at risk.

On Lucky7Bonus, some of the best online casinos on the market are listed. Thus, the Lucky7Bonus team has decided to highlight three online casinos that accept Bitcoin and that are safe values:

Exclusive bonus

How do I deposit online with a Bitcoin?

Step 1: If you wish to buy BTC, nothing could be easier. First you just need to go to your BTC account and enter your bank details or PayPal. Once you have entered your bank details, click on "Bictoin" then select the "exchange" option and press "purchase".

To complete this tutorial, Lucky7Bonus used the "Coinbase" application. If you wish to use Coinbase to carry out your cryptographic exchanges or to deposit money at a casino, click here.

Once you have selected this, you will need to enter the amount in Euro that you wish to receive in Bitcoin.

Once you have completed this step, click on "preview purchase" and you will see the total amount of your transaction, as well as the number of Bitcoins you will receive if you decide to proceed with your purchase.

Step 2: Once you have Bitcoin money in your virtual wallet, go to a casino that accepts Bitcoin deposits and transfers.

For a list of safe casinos in the market that accept Bitcoin, please visit Lucky7Bonus. Once in the casino, click on Bitcoin and enter the amount you wish to deposit.

Step 3: Once you have completed the previous steps, this message will be displayed. Take your mobile phone, scan the bar code and your virtual wallet will open automatically. The transaction may take a few seconds to ten minutes to complete.

Once all the steps have been completed, have fun!

Other cryptocurrencies

Bitcoin is the best known cryptocurrency on the market, due to its value. However, it is not the only cryptocurrency that exists.

  • The Bitcoin Cash, whose current value is 1 Bitcoin Cash = €182.

  • Litecoin, the current value of which is 1 Litecoin = 37 €.

  • Ethereum, whose current value is 1 Ethereum = 293 €.

These three cryptocurrencies, in addition to Bitcoin, are the best known on the market. However, there are nearly thirty cryptocurrency systems in the world.

Thanks to the emergence of Bitcoin, it is now possible to deposit money with other cryptocurrencies. For example, at Millionz, you can deposit money in Bitcoin, Bitcoin Cash, Litecoin, but also in Ethereum.

Whether you are in France, Belgium, Canada or Switzerland, you will be able to use these cryptocurrencies to deposit and withdraw your money in complete security. Please note, however, that this operation is impossible to carry out in certain geographical areas.

Conclusion on Bitcoin as a payment method

Because of its anonymity, its low transaction rates, but also because of its irreproachable security, Bitcoin is a sure value on the world market, but also in other online casinos worldwide.

Faced with the emergence of this cryptocurrency, but also of many others, as it has been possible to see throughout this article, online casinos are positioning themselves more and more on these means of deposits and withdrawals to attract new players.

Thus, in the coming months and even years, the vast majority of online casinos should offer you these means of deposits and withdrawals. Although Bitcoin is decried by many people, it is a reliable currency and online casinos are not mistaken in offering it to you.

If you would like to play at Millionz Casino, an online casino that offers various cryptocurrencies, simply click here!

About the authorClaude Gillet
336 articles
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Since 2019, Claude has been editor-in-chief. His role is the most comprehensive, as he is responsible for publishing, editing and proofreading. All articles published on the site have been checked by him.

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