Bitcoin, Cryptocurrency & Casino FAQs
Who Are BetKing?
BetKing is the internet’s most popular crowd-funded Bitcoin casino. Having initially launched in April 2013, BetKing quickly grew in popularity, and by 2015 actually had the highest volume in Bitcoin wagers on the market – with bets reaching up to 400,000BTC. This was an exciting time for the casino, which at the time only offered the fun, provably fair Dice game. As time goes on, we plan on extending our games to an even broader audience, so our players can enjoy the likes of blackjack, roulette, a sportsbook and much more!
You can read more about BetKing on our About page.
What Are Cryptocurrencies?
Cryptocurrencies are an alternative payment method based on blockchain technology. They can be utilised within a singular platform or externally and were created in order to offer four key benefits; a decentralised, peer-to-peer payment network, a network which has no server and is not controlled by a single entity, no double spending, and a trustworthy and reliable payment method. For more information on what cryptocurrencies are, where they originated from and how they work, visit our eBook.
What Are The Benefits Of Cryptocurrencies?
There are a number of different benefits to cryptocurrencies which can be found when using them. First of all, each currency is based off of the blockchain network, which offers a level of pseudonymity, meaning transactions are unable to be traced back to a personal identity, and only the transactions themselves and their addresses can be tracked. In addition to this, the blockchain network is completely irreversible once transactions are verified. Due to cryptocurrencies not being controlled by a single entity, anyone around the world is able to use them.
All cryptocurrencies are also exceptionally secure, as they can only be accessed by an individual who has both the public and the private key. This cryptographic function and security is one of the key reasons as to why cryptocurrencies are booming in popularity. All of the above benefits are a result of the decentralised nature of the technology. Cryptocurrencies offer their own different benefits, dependent on their platform (for example Ethereum can provide access to the DApp ecosystem), but the benefits listed above are those which all cryptocurrencies have in common.
Where Can I Buy Bitcoin Or Another Cryptocurrency?
There are a number of different exchanges that you can opt for when attempting to purchase your cryptocurrencies. Bitcoin exchanges can relate to Bitcoin alone, or can incorporate a broad range of other cryptocurrencies, tokens, and altcoins dependent on your requirements. It is important that you choose a secure exchange in order to transfer your funds to ensure they are protected. Some of the exchanges we recommend include: LocalBitcoins, Bitfinex, GDAX, Coinbase, Kraken, Bitstamp, BTCC and Gemini. Alternatively, you can earn Bitcoin through the process of mining, on which you are able to confirm and validate transactions through the blockchain network.
How Do I Store My Cryptocurrencies?
You are able to store your cryptocurrencies within a Bitcoin wallet. These can come in a number of formats, including online wallets, offline wallets, hardware wallets, paper wallets, bearer items such as a physical Bitcoin, and other forms of storage media. View our blog to find out more about how to store your cryptocurrencies.
How Do I Deposit?
Depositing funds to your BetKing account is simple. Firstly, you need to register an account in order to have something to deposit into. After this, all you need to do is copy BetKing’s address, choose the amount you would like to deposit from your wallet, and send the funds. At BetKing, we pride ourselves on offering fast and secure transactions, with deposits on our site being faster than you will find with any other type of currency, or deposit method.
How Do I Withdraw?
Withdrawing Bitcoin or any other cryptocurrency funds to your wallet is as just as simple as depositing. Once you have opened your account, deposited funds, wagered on our games and won, you are then able to withdraw your Bitcoin from your BetKing account. Add a Bitcoin wallet address to the account, and your winnings will be transferred to you almost instantly.
Is Bitcoin Gambling Legal?
Due to the fact there is no single entity controlling the cryptocurrency, gambling with Bitcoin is not illegal. While there are some jurisdictional regulations which prevent this type of gambling in certain countries around the world, if you are able to create an account, then you are able to gamble with cryptocurrencies legally. Cryptocurrencies are not classified as an actual currency, and therefore certain regulations do not apply in most circumstances.
Is It Safe To Play With BetKing?
At BetKing, we ensure that our site is fully encrypted with the latest technologies in order to ensure that your money transactions are as secure as possible. In addition to this, when betting on BetKing, you can be certain that some of our games, such as our Bitcoin Dice game, is supported with provably fair technology. This ensures that all results can be verified by providing access to our server seeds and will provide you with peace of mind that there is no form of game manipulation.
What Games Can I Play With Bitcoin?
At BetKing, we are opening up our gaming opportunities to provide you with a broad selection of online casino games. Currently, we are offering Bitcoin Dice As time goes on, we will introduce a number of other Bitcoin games for you to enjoy, including blackjack, roulette, baccarat, keno, slots, a sportsbook and more!
What Are BetKing's Rake Fees?
At BetKing, we like to ensure that our players enjoy a fun and fair gaming experience at all times.
Which Cryptocurrencies Does BetKing Support?
Currently at BetKing, we support up to 19 different altcoins, tokens and cryptocurrencies in order to provide our players with more choice than the traditional BTC tokens used on numerous other sites. We support the following:
- BetKing Bankroll Tokens
You can find out more about the cryptocurrencies supported by BetKing in our Ultimate Guide To Cryptocurrencies.
Can I Play On BetKing Anonymously?
One of the key features of playing games with Bitcoin and any other cryptocurrencies is the pseudonymity that the games offer. While you will need to input a Username and Password in order to register an account with BetKing, filling in your email is option, and your wallet is not traceable back to your identity. This element of pseudonymity is one of the main reasons as to why people are moving away from traditional fiat online casinos and switching to crypto-casinos like BetKing.
Are BetKing Games Provably Fair?
At BetKing, we pride ourselves on offering provably fair gaming technology on our Dice game. This can help to ensure that our players are experiencing a fair and quality game play at all times. You can verify your bets on BetKing with this provably fair casino verifier.
What Is Provably Fair?
Provably fair gaming is a mathematically generated encryption system which helps to guarantee that the game utilising this technology is fair at all times. This allows the roll-result to be calculated prior to the roll being completed. Find out more about provably fair gaming here.
Does BetKing Support Responsible Gambling?
At BetKing, we consistently encourage responsible gambling practices amongst our players. We have our own policy in place, and always aim to promote the best practices when it comes to betting on our site. Find out more about our responsible gambling criteria on our responsible gambling page.
I’m Based In The UK, Can I Play On BetKing?
Unfortunately, game play is restricted in the UK at this time. To find out more, contact [email protected] and we will be happy to answer any questions you may have.
How Can I Follow BetKing’s News & Promotions?
Following our news and promotions is simple. Check out our Knowledge Center for the latest updates and industry news so you can stay up to date with everything that’s happening on our website. Alternatively, you can follow us on Facebook, Twitter, Instagram, Medium, BitcoinTalk or Reddit. Find the links to our profiles in the footer below.
Can I Collaborate With BetKing & Get Paid?
We are proud of the affiliate program we offer here at BetKing, and you can benefit from this quite dramatically. All you have to do is refer your friends by sharing your affiliate link. Find out more about our affiliate program, here.
Can I Play On My Mobile?
If you’re looking to play on BetKing on the go, then you’ll be pleased to know that you can. Fortunately for you, BetKing is mobile responsive meaning you can play no matter where you are in the world. In the future, we will also be introducing native mobile apps – so keep an eye out for updates!