mBit Casino represents one of the most popular Bitcoin-centric online gambling sites that accepts cryptocurrency deposits and wagers. Established in 2014, mBit built a reputation early on for large bonuses, an immense game selection, and excellent customer support. While open to players worldwide, Americans can also join legally since mBit operates offshore under a Curacao license without directly targeting U.S. markets under prohibited internet gaming laws domestically.
A major perk highlighted upfront at mBit includes bonuses focused on crypto deposits and play. New slots/table game players are eligible for a 110% deposit match bonus of up to 1 BTC and 300 free spins. That means depositing 1 full bitcoin from your wallet, gambling on eligible games, lets you play with 2.1 bitcoins in buying power thanks to the generous welcome offer.
How Depositing Bitcoin Works At mBit Casino
Being a pure online cryptocurrency casino, mBit supports an array of digital coins on top of Bitcoin, as players can also deposit/withdraw Ethereum, Litecoin, Dogecoin, and more. Yet despite supporting multiple cryptos, the process of finding one’s real money account with Bitcoin functions similarly. Follow these primary steps:
1. Sign Up for a New Player Account
Visit mBit Casino and provide an email address alongside a password to register your account. Verify the account also via brief KYC proof of ID and address documents.
2. Navigate to the Cashier Bitcoin Deposit Page
Access your account dashboard, click banking, and then the deposits tab lists all supported cryptocurrencies, amounts, and addresses.
3. Initiate Transaction From External Wallet
Choose Bitcoin and copy the mBit BTC wallet address into your external crypto wallet app to send funds to. Confirm the transfer.
4. Wait for Blockchain Confirmations
Within minutes, the transaction will finalize on the distributed ledger and mBit credits your account with the deposited Bitcoin amount to play.
Once successfully funded with crypto, players can explore thousands of slots, table games, live dealers, and more at mBit – including titles unique to crypto casinos like Bitcoin Blackjack or exclusive Max Quest slots paying actual bitcoins as jackpot prizes.
Benefits Of Bitcoin Casino Deposits
Funding real money accounts with cryptocurrency like Bitcoin rather than traditional debit cards or bank wires provides users several key benefits:
1. Enhanced Privacy Protection – mBit sees only your public Bitcoin address used for transactions, not personal financial institution details vulnerable to data breaches.
2. Drastically Lower Fees – Depositing Bitcoin costs just pennies in mining charges, big savings from the 4-5% service fees charged by credit card and e-wallet payments.
3. Quicker Transaction Times – Blockchain confirmations finalize in minutes versus business day bank transfer clearance rates or payment approval wait times.
4. Larger & Better Bonuses – Cryptocurrency-focused sites like mBit incentivize bitcoin usage further via bigger match bonuses of up to 1 BTC in value or hundreds of free spins.
5. Decentralized Platform – Using Bitcoin places deposit/withdrawal power in users’ hands directly interfacing with blockchain instead of relying on traditional banking institution rails prone to gambling blocks or delays.
Of course, some downsides to cryptocurrency persist currently like price volatility risks for players not cashing out promptly. However mainstream adoption continues pressing forward – bringing more price stability, improved security enhancements, simplified user experiences, and transparent blockchain transactions.
Is Bitcoin Gambling Legal For Americans At mBit?
Licensed and regulated properly in Curacao, mBit follows policies like strict 18+ age verification and geo-blocking countries where internet gambling is prohibited like the United Kingdom. Americans however can play legally on the offshore crypto site so long as mBit avoids directly promoting to the USA market by focusing mainly on other jurisdictions instead.
This aligns with UIGEA laws in America prohibiting processing payments domestically across state lines but does not explicitly illegalize offshore online betting patrons voluntarily. Of course like any internet gambling provider, players should judge site trustworthiness through indicators like years in business, casino encryption measures, licensing status, responsible gambling advocacy, and any available independent audits.
How To Withdraw Bitcoin Winnings From mBit Back To Your Wallet
Cashing out from mBit back to your external crypto wallet follows a similar process in reverse after winning money:
1. Access Your mBit Account Dashboard
Head to the account section and click the banking followed by the payouts tab to initiate a withdrawal.
2. Select Bitcoin From Available Withdrawal Options
Alongside bitcoin, mBit supports dozens of withdrawal crypto coins and stablecoins. Enter the desired amount in BTC to cash out along with your recipient wallet address.
3. Process Time Per Site Policies
mBit requires just 1 initial deposit before the first withdrawal. Bitcoin cashout minimums equal just .01 BTC. Processing aims for completion in under an hour barring peak site traffic delays.
4. Confirm Transaction Into Designated Wallet
Once mBit releases the payout out to the blockchain and enough network confirmations accrue, check your external wallet to view the updated Bitcoin balance including money transferred from the casino account.
In summary, depositing bitcoin into licensed crypto gaming sites like mBit Casino opens up welcome bonuses, hundreds of casino games, and quick cashouts directly back to your secure personal BTC wallet. While America prohibits banks and cards from processing gambling transactions across state lines, offshore betting with voluntarily transferred cryptocurrency using one’s wallet avoids such legal prohibitions.
Just be sure to assess site credibility and cashout reliability indicators before handing over-identification. Given due diligence, however, bitcoin casinos like the pioneering mBit provide demonstrable advantages for crypto-savvy internet gambling enthusiasts globally, including citizens able to enjoy online entertainment legally by circumnavigating intrusive financial policies.
Also Read: How To Pay Online Casino Using Bitcoin?