Choosing a Bitcoin Wallet

To begin using Bitcoin in a great US online casino one of the first things you´ll need is a Bitcoin wallet, of which there are many to choose from. There are of course many Bitcoin wallet reviews online and as you´ll need to make your choice from a pretty big selection, it can be a little daunting, however if your primary use for your Bitcoin wallet will be to deposit and withdraw from your Bitcoin casino of choice then we can make that choice easier for you.

Sending and receiving Bitcoin are the two most basic functions of any and all Bitcoin wallets and while many of the choices presented to you will come with many extras, one of the first questions you should be asking is, do I really need all of this extra functionality? The most likely answer is no, and unless you wish to trade Bitcoin using various currencies, or store large amounts of Bitcoin in a secured vault then you´ll only need a wallet with basic functionality. Wallets such as Circle or Xapo will be just fine for what you´ll be using them for, and while each option has a varying set of features, such as a debit card (which you may very well want to take) and a buying/selling feature, which is a great feature, the basic setup will do you fine as each wallet operates in the same way.

Remember that you´re not tied to a single Bitcoin wallet and you can switch at anytime you like, even sending your BTC to your new wallet from an old one and no matter which option you go for, all will allow you to make your casino deposits and withdraw your winnings.

Bitcoin Volatility

The price of Bitcoin has steadied over the last 12 months or so, and although you´ll still see changes in the amount it´s worth against USD, the rapid swings of a few years ago are pretty much over. You´ll want to keep Bitcoin price volatility in mind when using this banking method, and here´s why....

When buying BTC you´ll be buying at the price it´s valued at that particular time, and when withdrawing from your casino account you´ll get the equivalent BTC sent, against the USD amount. That BTC will go to your Bitcoin wallet and price swings, although they can go in your favor, may also go against you, and for this reason you may want a wallet that offers you a debit card option, so that when withdrawing let´s say your $500 casino winnings, you can use an ATM and get the exact $500 withdrawn, without the BTC staying in your wallet and you risking the price going south!

Sure there are many wallet options out there, however the advice is to keep it simple, maybe take the debit card option, and switch wallets as and when you wish....easy!

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