Have you heard of the digital currency Bitcoin? The first of the cryptocurrencies, the BTC, is the one that has opened the doors to the new era of cryptography and the block chain. However, there are still many people who do not understand exactly what all this digital news is.
For their part, online casinos, and especially https://22bet.ng/casino/ , are being updated with the use of the most popular cryptocurrency. Since today it is very easy to buy and sell BTC, more and more facilities are offered to users to access their digital balance. Next, we are going to briefly explain what bitcoin is and why it is beneficial for all internet users.
What is Bitcoin?
Bitcoin (BTC) is off to an intriguing start. Developed by the anonymous person or group under the pseudonym Satoshi Nakamoto in 2009, it is officially the first digital currency. Unlike currencies such as the euro or the dollar, bitcoin is not regulated by a central entity, that is, there is no bank or institution that gives value to BTC.
We can think of bitcoin as a code protected by cryptography. The value of the cryptocurrency depends on various factors, including the interest of users and the level of purchases / sales that are made. Surprisingly, its value has grown exponentially in recent years, becoming a highly valued asset.
Bitcoin in online games
When BTC was designed it could only be used by mutual agreement and a series of complicated steps. Nowadays, it is possible to make the purchase anywhere that accepts cards, since there are services that make it possible to pay using a BTC balance. It is expected that in the coming years the use of cryptocurrencies will continue to grow, so it is advisable to familiarize yourself with its use in casinos, betting lots and sports betting.
Is it safe to use BTC?
Yes, it is totally safe to use bitcoin. In addition, it is not currently regulated in Spain, so it can be used with other conditions than usual monetary transactions. Bitcoin is not a program, so it cannot introduce viruses where it is used. Saving BTC is as simple as having a few passwords in a safe place, which are used to make shipments and access funds.
Why can it be useful to use bitcoin?
For starters, BTC volatility is a double-edged sword. You can make money if the value goes up or lose value if it goes too low. Although BTC tends to stabilize at high values in the long run, fluctuation is not its main advantage. When bitcoin is used, it leaves the regulated system, since there is no legislation that covers all its use. It is not subject to taxes like the money we have in the bank or the one we receive on payroll. Also, privacy is essential: you cannot know who is sending or receiving the cryptocurrency by looking only at BTC transactions.
Bitcoin in Casinos
Most of the electronic wallets and gambling operators are implementing bitcoin. Nowadays, it is very easy to obtain and exchange this cryptocurrency with compatible or external services such as Local Bitcoins – a network of users who exchange cryptocurrency around the world. Therefore, there are online casinos that already receive BTC to add balance.
Bitcoin transactions can take a few minutes depending on the volume of movements on the network. In any case, they end up being validated and updated according to the value of bitcoin at the time the BTC is sent. It is useful to have funds in BTC to be able to add balance in various bookmakers, casinos or e-wallets that we need to use. The use of bitcoin is becoming more and more widespread as the number of supported services grows.
In addition, it is possible that the funds that are currently obtained will appreciate in value over time, as has already happened on several occasions. Using bitcoin is not only supporting the decentralized spirit but also taking a step into the future ahead of us. In casinos there is clear information on how to add balance using bitcoin.
The steps are as simple as making any other BTC transfer from one wallet to another. The balance will be updated in a few minutes when the transaction is finished verifying. That easy! Don’t wait any longer to create a Bitcoin wallet and start using the cryptocurrency that moves the most market today.