When you heard the word ‘Bitcoin’ for the first time, have you ever thought to yourself, what is Bitcoin? Most probably yes. Everyone has. But just like any curious mind, yours needed to be taught for you to learn what it is and why you should use it. This Bitcoin guide will start by giving you a quick run-through of what Bitcoin is.
Bitcoin is a digital currency released in 2009 by Satoshi Nakamoto, a pseudonym of an unknown man still. Unlike fiat currencies, Bitcoin only exists electronically. The payment system of it is based on a mathematical proof. In that way, no one could ever cheat it. The Bitcoin protocol limits its production to up to 21 million bitcoins only. Bitcoin is decentralized–it isn’t handled by any entity which means there is no bank having control over your money. This also opened up a greater audience in the US market.
Having explained what is Bitcoin in the simplest possible way, this Bitcoin guide now tells you the advantages of using it. It is most valued for its anonymity. That being said, your transactions are recorded through the blockchain but your identity remains anonymous. All you need to provide is a Bitcoin address. Unlike with your bank, deposits and withdrawals with Bitcoin are instant and charges you from low to zero minimum fees. With these advantages in mind, it’s about time you give Bitcoin a try.
With the aforementioned advantages, it is no wonder for online gamblers to regard Bitcoin as the ideal currency for gambling sites. Even gambling sites that initially accepted only fiat currencies now recognize the perks of accepting Bitcoin. Bitcoin also popularized provably fair games, which gives a whole new meaning to fair results. If you’re meticulous when it comes to verifying the authenticity of each result, Bitcoin gambling is definitely right up your alley.
Bitcoin has been widely used in online betting platforms that offer, Bitcoin lottery, Bitcoin poker, Bitcoin dice games, and other modern and classic online gambling games. To have the most convenient experience with these betting platforms, this Bitcoin guide along with the other Bitcoin Casino Finder pages highly suggest that you start using Bitcoin.
Other Cryptocurrencies Accepted at Online Gambling
As gambling using crypto currencies gained popularity there are a lot of other online casino that started using or accepted cypto currencies in their platform. Bitcoin, Bitcoin Cash, Dash, Litecoin and Ethereum have become the most widely used crypto currencies not only in gambling but in other industries as well. But these five cryptocurrencies are not the only crypto payment methods that you will encounter or accepted in online gambling. We have listed below some of the most popular virtual currencies below that are being used supported by some online casinos and legitimate payment methods you might encounter.