What Is Bitcoin And Why Is It Good For Online Casinos?

Bitcoin is a crypto currency. This means that it is money that is made online over internet links and the buying in of bitcoins. The idea was created in 2008 by a group of people – or person, no one is really sure – that simply goes by the name of Satoshi Nakamoto. The Bitcoin was created as a way of moving away from the reserve banking system.

This means, that is does not come with all the standard tax and fees that standard money as we know it has. Also, because it is online, it offers the owner of the Bitcoin complete anonymity. Not that you would have anything to hide, but simply to keep your banking private. With an age where everyone’s details are available to everyone else – at a price – this safe space offers great security and peace of mind.

Crypto Currency In Your Online Slot

As stated, Bitcoin is an internet-based currency. Therefore, anyone with internet access can own Bitcoin – which is the name of the currency, like the Dollar is the name of the currency of The United States of America. The biggest difference between the Bitcoin currency and currency of a country is that it is not country specific.

Bitcoin is accepted worldwide. When you purchase Bitcoin you can transfer it into you e-wallet – which is like a Bitcoin bank account. From there you can use it as money to play at any online casino that accepts the currency of Bitcoin. You simply need to transfer the money from your https://mobilepokies.net.nz/skrill/ wallet into the online casino that you are playing.

International Accessibility Of Online Casinos

What this means is that an online casino that is based in the United States of America, that normally would only accept Dollars, has now made it accessible to players to play using bitcoin. An online gambler from Hong Kong could therefor play at the American based online casino, without the issue of currency exchange rate.

The value of the Bitcoin is the same throughout the entire world. You do not loose or gain extra monies when you need to convert your currency into the currency of the online casino where you will be playing. Because there is no currency conversion, there is no additional charges which would normally go with currency conversion.

The World Is Your Oyster

As you can see, the possibilities of where you could enjoy your time at an online casino has multiplied to the point where you are almost limited by nothing. What’s more, is that because your e-wallet is only linked to your Bitcoin, the information that normally gets send to and from banks, is also a thing of the past, offering you complete privacy.

Better privacy, complete accessibility and lower costs is the great driving force behind online casinos teaming up with bitcoin. Your online gambling experience has just been pushed into the 21st century and has been bettered a thousand-fold. This gives you the ultimate experience in when you log onto an online casino, where you would like to spend some much needed leisure time.