Local Bitcoins - Buying, Selling, and Gambling

9 September, 2018

Cryptocurrencies are all the rage among people who frequently buy and sell online. The good news is that you can also use your bitcoin to play at online casinos, place sports bets or even bet on the horses.

If you are new to bitcoin, you have to first buy some. There are a couple of ways of doing this and in this article we'll talk about how to go about buying bitcoin at Local Bitcoins.

You can of course use a services like Skrill or UpayCard or Neteller to purchase bitcoin and then immediately make a casino deposit, but only if those services are available from your country. Luckily there are other options as well and a good place to start is Local Bitcoins.

The Local Bitcoins website represents bitcoin trading at its most basic level. It puts sellers and buyers in direct contact with one another via online advertisements. Sellers advertise what they are selling and at what price; buyers browse advertisements until they find a deal they like.

How Local Bitcoins works

Do not confuse Local Bitcoins with a cryptocurrency exchange or a digital wallet. It is neither. Rather, it is an online marketplace that brings buyers and sellers together. It is a place for buyers and sellers to find one another.

To purchase bitcoin, you would first register with your email and login to the site and start browsing the ads. They are divided into national and local categories. Each advertisement includes basic information in its primary listing. For more details, click on the advertisement you want to know more about. You will find information about the price, purchase limits, funding options, and more.

Once you find a deal you like, that's it. You buy the bitcoin in the same way you would a consumer product. Input the value of the bitcoin you want to buy, provide a funding source, and click the button. Bitcoin will be transferred into your digital wallet as soon as the seller verifies your payment.

If you want to sell bitcoin, you post an advertisement as a seller. This is a bit more complicated, so it does require a basic understanding of how bitcoin trading works. Post your ad whenever you are ready, then wait for the buyers to contact you.

Gambling online with Bitcoin

Bitcoin's security and rock solid blockchain make it a particularly good cryptocurrency for online gambling. Users can deposit bitcoin either directly or indirectly without ever revealing personal information to the casino. That makes bitcoin gambling more secure than using other payment methods. How it actually works depends on the way you choose to acquire your bitcoin and the casinos you like to play at.

Previously we mentioned using services like Skrill and UpayCard or Neteller. You can gamble with bitcoin using them. Doing so requires that you deposit money into your account, then buy bitcoin using whatever Bitcoin Exchange they provide in their system. You can then send bitcoin directly to a bitcoin casino.

This also works the other way around. If you already have bitcoin you can transfer it to Skrill and UpayCard or Neteller. You can then convert the bitcoin to, say, Euros or US Dollars, and make a deposit to casinos that do not accept direct bitcoin deposits.

The only real downside to Skrill and UpayCard or Neteller is that these services are not available in some countries, including the US. Besides this there's a whole bunch of ID and proof of address verification processes in place. We do not recommend these services outside of the EU.

Remember that if you play at a "pure bitcoin casino" - which is to say a casino that accepts bitcoin only - you do not need an intermediary service such as Skrill and UpayCard or Neteller. You can transfer the bitcoin directly from your bitcoin wallet to the casino. For example Cloud Bet is one such betting site.

Just login to the casino, choose bitcoin as your deposit method, and make the transfer from your wallet to theirs. That's it; it couldn't be simpler. What's more, you will not incur any currency exchange fees for making the transfer, and your transfer will have only a tiny fee.

Local Bitcoins and online gambling

Local Bitcoins is a great resource for facilitating online gambling with bitcoin. First and foremost, Local Bitcoins represents your opportunity to find the best deals on bitcoin trades. Remember, every time you buy bitcoin there will be a small fee to consider. There is no point in paying more than you have to, so it makes sense to shop around just as you would if you were exchanging fiat currency ahead of taking a holiday in a foreign country.

Once you have purchased bitcoin through Local Bitcoins, you have the full value of the cryptocurrency in your digital wallet. You can then use it to make a deposit at online bitcoin casinos. When it comes time to make a withdrawal, the process is just as easy. Choose bitcoin withdrawal and the value of your withdrawal will be transferred directly into your bitcoin wallet.

This is what makes playing online with bitcoin such a pleasure. Unlike transacting business through a traditional banking system, bitcoin transactions are nearly instantaneous. Better yet, you are not giving up your ID information. They do not need to know and Local Bitcoins also keeps everything nice and private.

Bigger bonuses with bitcoin

If you are not yet convinced of the benefits of online gambling via bitcoin, consider this: a lot of online casinos that accept direct bitcoin deposits also offer bigger bonuses to bitcoin users. As an example, consider the bonuses available at Cafe Casino.

Cafe Casino offers a number of promotional bonuses that players can take advantage of. Let's say you are a brand-new player looking for the casino's welcome bonus. If you are using fiat currency such as US dollars, you can choose one of two welcome bonuses. The first is a 500% Super Play Bonus that matches your initial deposit at a rate of 500% up to a limit of USD $5,000. The bonus includes a 10X max cash-out and a 35X play-through requirement.

If you are not a high roller, you can opt for the 100% No-Max Welcome Bonus. This offer matches your initial deposit at a rate of 100% up to a total of $1,000. It includes a 25X play-through requirement, but no cash-out limit. That is to say you can withdraw the total value of the bonus money once you have completed the play-through requirement.

Now, with bitcoin things just get better! Again, there are two to choose from. The first is the 600% Super Play Bonus. It works the same way as the Super Play bonus for fiat currency except that the value is higher. The 500% match for fiat currency becomes 600% for bitcoin. Fiat currency's $5,000 limit is raised to $6,000 for bitcoin players.

The other bitcoin option is the 150% No-Max Welcome Bonus. It is identical to its fiat currency counterpart but with a higher value. Deposits are matched at 150% up to a total of $1,500.

If you like numbers, consider this: the Super Play Bitcoin Bonus is worth 20% more than its fiat currency counterpart. The Bitcoin No-Max Welcome Bonus is worth an astonishing 50% more. In the simplest possible terms, you get more by playing with bitcoin!

Start buying at Local Bitcoins today

If you are an online gambler who can appreciate bitcoin and how easy it is to use for gambling then try Local Bitcoins to fund your digital wallet.

You can get started right away by first signing up for a free digital wallet at e.g. Blockchain.com or BTC.com. Don't worry, you only need an email address to register. Once you have your wallet, head over to Local Bitcoins to make your first purchase. Then head on over to Cafe Casino and enjoy.