Bitcoin Casinos Online
Bitcoins are a cryptocurrency that was first introduced to the general public in 2008; and has now become an increasingly popular choice of currency for millions of users across the world.
This currency is set to change the way we all view currency and the way in which we conduct transactions.
It was developed by employing the security protocols, making it quicker and cheaper than mainstream banking facilities; and has the added advantage of being totally anonymous.
Bitcoin is not a physical currency, it is actually kept in bitcoin wallets, which is in effect a personal bitcoin bank account. Bitcoins can be exchanged in real time; but once the bitcoin is sent, the sender has no control over it, and therefore, there is no way to generate a chargeback or refund. In fact, the only way the sender would be able to get the money back, is if the other party wants to return it.
Bitcoin miners utilise unique software to approve all bitcoin exchanges between wallets to ensure the transaction is legit; as well as process complicated algorithms which then allow new bitcoins into the system.
How to use Bitcoin
This bitcoin currency is easy to use and understand. The easiest way to comprehend the bitcoin concept is to look at it as online cash.
First one needs to download a wallet, which needs to be backed up. There are three main types of wallets:
- Online Wallets that are kept in cloud servers by third parties. Creating and backing up this type of wallet is relatively simple, and is recommended for new users. An example of this is Blockchain.
- Software Wallets are kept completely on the person’s computer, and one must then back up the wallet manually. By the mere fact that it is kept locally on the user’s computer, means that it is more secure than Online Wallets. This Software Wallet is recommended for advanced users. An example of this is Electrum.
- Hardware Wallets are the most secure, as in order to get into one’s wallet a unique piece of software is needed that is accessed via USB. An example of this is Ledger, and is usually utilised by very experienced users.
Once the person has selected the wallet, then it is time to exchange one’s FIAT money for bitcoin at an exchange. There are many exchanges available to purchase bitcoins, and one must be careful in only choosing reputable sites.
Bitcoin & Online Slots Casinos
Once a player has bitcoins, then it is only to find the suitable online slots or casino service that accommodates bitcoin. There are an increasing amount of online gaming services that allow players to use bitcoin; and Slots2Play members can find a listing of all the most reputable and trustworthy brands right here.
The use of bitcoin as a form of currency at online gaming sites is not difficult exercise. Online casino players can treat it like just another form of currency, like using Pound Sterling instead of Canadian Dollars.
As mentioned, Slots2Play, will provide all our members with the most comprehensive listing of all online slots and Canadian casino sites that permit bitcoin; so our members need not have to spend countless hours searching for the best bitcoin online casinos!