New to bitcoin? Let us explain the process of buying and selling bitcoins online and the great advantages of gambling with bitcoins instead of regular cash.
What are bitcoins?
Bitcoin is the largest and most successful cryptocurrency in the world… and it only going to get bigger from here.
You can buy bitcoins with local currency using a trader. There are plenty online and most provide a rapid conversion services.
The funds can be stored in a bitcoin wallet. From there they can be transferred to bitcasino or any other company that accepts bitcoin. The transfer, once executed, should literally take a few minutes to complete.
All transactions made are recorded a public ledger (the blockchain). This provides an unexpected level of security because all transactions can be viewed, traced and verified on the blockchain by everyone. If someone tried to send you bitcoins that did not exist on the blockchain in some way or tried to send one bitcoin to two different recipients, the transactions would be rejected and therefore fail. This is far more secure than a traditional bank with a private ledger.
Financial Product Innovation
The blockchain and bitcoin has given rise to a new wave of financial product innovations, otherwise referred to as ‘fintech.’ In a nutshell, a variety of mobile-based applications, duel-signature wallets and other developments have been made recently, with more on the way. They are disrupting the way we think about financial transactions, management and security.
Why use Bitcoins to Gamble?
In effect, bitcoin provides a large array of security and measurements that one does not find with regular credit card-based casinos. These include anonymity, security and improved money management, amongst other things.
But most of all, the pokies at bitcasino are simply better than those on offer at other online casinos.