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BTC or Bitcoin is as many already know the widely used cryptocurrency, which has exploded in value since it first made its appearance over ten years ago to this date. The currency is a digital one without any form of centralization or government controlling its value. The benefit of using such cryptocurrencies is the peer-to-peer bitcoin network, which allows users to send each other bitcoins without the need for intermediaries. Bitcoin can be obtained as a reward for a process known as mining and exchanged for other currencies, products, or services. The benefits of using Bitcoin in online casinos is vast. It is an untraceable currency, which means all your earnings in the casinos are private. It is also a very secure way of making transactions, and best of all, the cryptocurrency is accepted worldwide, which means you can play at foreign online casinos from the comfort of your own country!
First of all, you need to find online casinos that accept the cryptocurrency as a valid currency. Doing so should be quite straightforward as more and more online casinos have now jumped on the cryptocurrency bandwagon. Although being a quite recent trend among casinos, exclusive Bitcoin casinos have emerged in the last couple of years, where new customers can acquire bitcoins as a welcome bonus instead of regular cash. If gambling is authorized in your particular geographical location, exclusive bitcoin gambling is perfectly legal as well. Secondly, you need to own Bitcoins. You can buy or sell Bitcoins at any registered cryptocurrency trader, or get them as a reward for completing various surveys, shopping online, or open a crypto interest account. When you have the Bitcoins in your e-wallet, simply register to the online casino and link your Bitcoin e-wallet with the casino. You can now deduct or supplement your casino-account with Bitcoin!
Bitcoin can be a very secure way of transferring value online, but this also requires the user to know how to use the cryptocurrency in a safe manner. Remember, Bitcoin cannot be traced as there is no way to get back any stolen value from your wallet. To keep Bitcoin transactions and tradings secure, the system has developed something called “Blockchain,” which brings together a whole lot of volunteers that encrypts the transactions that happen on the Bitcoin system. By encrypting every transaction, these volunteers make sure that all personal information is hidden away from spying eyes, and that there is nothing of value to steal should hackers get into the system.
Bitcoin or cryptocurrencies, in general, are great for us gamblers that like to keep our earnings private. It is oftentimes quicker and cheaper to transfer Bitcoins than any other form of money. Bitcoin is pseudonymous, and anyone can open a wallet on the internet without any verification or credit check. Additionally, transferring Bitcoins is quick and free, while giving the player the ability to use the Bitcoins anywhere in the world which means that the player can play at online casinos in other geographical locations than their own. And, unlike flat currencies, Bitcoins are deflationary, meaning their value is set to appreciate by design.
On the downside of things, Bitcoin does not offer any sort of regulatory oversight if or when things go south, and converting Bitcoin into any currency is often quite costly. We recommend those of you interested in linking your casino account with Bitcoin to read up on the safety procedures one has to know before starting to exchange Bitcoin or any other cryptocurrency for that matter.
Since Bitcoin and cryptocurrencies are the “currencies of the future”, naturally Bitcoin comes with a whole range of available e-wallets from you to choose from. These e-wallets are available on any platform you desire, using QR codes to make instant transactions.
As more and more people chose other payment methods rather than a traditional bank card, online casinos are quickly adjusting to the trend. We recommend users to use these methods as they are quicker and easier to use than the traditional credit and debit card. Naturally, there are no great downsides to using the old method, but you can expect higher fees, slower transfers, and having to re-enter all the information if you ever happen to lose a card Bitcoin is quick, efficient, and easy to use once you get the hang of it. All your winnings remain private, and you can be assured that Blockchain secures every transaction you make! Read up on Bitcoin before you begin investing your hard-earned cash, like anything in this world, one always need to show a little common “cents.”