Online Casinos & Betting Sites Accepting Bitcoins
Bitcoin is a new online payment system that has been specifically invented for the internet. The Bitcoin currency was created for the web in 2009 by a man or group by the name of Satoshi Nakamoto. At first, the coin was not taken very seriously. Now Bitcoin has gone on to become one of the strongest pay methods online. The coin is now valued at an estimated ten billion dollars. Some online casinos have been slow in adding this all new form of currency. More and more online casinos and betting sites are now starting to add the Bitcoin option to their list of casino pay methods.
It should also be noted that this cryptocurrency is now very popular for making fast online casino deposits. This is due to more casino gamblers choosing to drop other means of payment. It is also good for online casino cash outs. The coin is a safe and quick way to get cash from member Bitcoin online casinos or bookmakers.
Bitcoins are unique and modern and not like traditional currencies. These are also known as ‘flat’ currencies. The Bitcoin system is also unique in that it is not controlled by any central government or financial institution. One of the main pluses of the Bitcoin system is that no single individual or institution is able to control the currency.
No one can change the supply and demand. This would act on the value of the currency itself. Bitcoin can be seen as the world’s first truly free community-based currency. It also relies on anonymous individuals volunteering their own computer power within a network to safely record transactions over the web.
Using this payment method also lets you be anonymous. The Bitcoin system does not need you to supply your personal details such as name, contact details or address. Bitcoins have also been further refined to allow for smaller sub-units. This makes them ideal for easy online casino deposits to suit every type of preference and need.
To start using Bitcoin is not like using any other form of flat currency. You will need to find a special Bitcoin exchange site. In the first few years of Bitcoin’s existence, online Bitcoin exchange sites were few and far between. Now more and more Bitcoin exchange sites have been made over the last two or three years.
This makes the process much easier and much quicker. You can trade flat currencies such as dollars, euros, pounds, and other currencies in two ways.
- You can buy Bitcoins using your flat currencies then use your Bitcoins to buy things online. You can also make safe online casino deposits and so on.
- You can also sell your Bitcoins (exchange) for flat currencies on the same Bitcoin exchange sites. This makes the system ideal for online casino withdrawals. You can cashout in Bitcoins and either keep them online for additional web-based purchases or exchange them for non-web based purposes. Using Bitcoin at online casinos that now accept this currency is also instant both for deposits and for withdrawals.