Bitcoin for Beginners

[BarneyTheAngus]

I have not used bitcoin before but want to start as payouts from casinos appear to have less fees.  anyone recommend who I use for this.  I have a coinjar account but can't really drive that, so not sure what information to give the casino to pay into here...... If its too hard I might just stick with cash and keep paying the sometimes ridiculous ($50 at one site) bank transfer charge.  I also want to be able to deposit to casinos from this account, and the plan of course is to transfer excess winnings to my bank account.  I am in Australia.  Thanks for reading.  Kirsty

[cocopop3011]

Ahh that's such a pain that you have to pay these fees all the time, I'm afriad I don't know much anout bitcoin but have you browsed our range of bitcoin casinos yet to see which ones are available in Aus?

[Fiekie247]

First of All @BarneyTheAngus - Where are you based, so I can recommend some BTC casinos for you.

2nd - When you make a deposit, you get a BTC address from the casino to pay money into, you can either send as per normal, as you would send BTC to another user or friend of it the exchange site has a mobile friendly app, you scan the qr code and transfer funds.

When you click on withdraw you just enter your wallet address as seen below

 

Then you go back to your withdrawal history and wait for it be excepted, once its excepted, you local exchange will notify you incoming, but waiting 3 confirmations. Normally takes about 10 minutes, but depends which casino you playing - 90% of them use coins paid.

 

[Afi4wins]

I guess you need to be as good a mathematician to use Bitcoin...needing so many digits to represent $0.20 for example! I'll stick with the simpler 0.20, thank you! 

[pinnit2015]

With Afi on this one, still be be sold Bitcoin as a preferred deposit method. Certainly UK wise where it's punch in a few digits, click submit and it's done (instant, free withdrawals back as well). All this talk of wallets, rates etc. Meh. 

Might be different if was in a different jurisdiction - I dunno.

As for places outside of casino's, the same will apply - for obvious reasons if i went to buy a house and said i'll pay in BC i'm sure it would be squeaky bum time (having said that, look at HSBC in the news about FIAT money laundering) - so until i can do that, and buy 20 Benson and Hedges at my local shop with it, it'll remain that way. In the UK we still love our cheques so a national conscious move to BC in the near, or even distant future, is unlikely. 

BC No

Blockchain i get more but more from a security POV. 

See over the next few years how the new AML Directive is affecting it as some of the perceived benefits of it are curtailed by the EU bringing it into the same legislation as dealing with straight cash etc. 

[BarneyTheAngus]

I am based in Australia, but did not deposit using bitcoin, but wanted to withdraw with it and then could start depositing??/.

[Fiekie247]

@BarneyTheAngus - I believe this has been concluded as per our PM conversations - You came right and now withdraw with Bitcoin.