We are faced with a payment method in online casinos different from all the others.
Until now, in one way or another (debit or credit cards, prepaid or electronic wallets), we used currencies or coins minted by this or that country, but with Bitcoin everything changes.
To begin with, it is a totally digital product. And if you do not have a bank or a sovereign state behind, how is it sustained?
Well, through a group of people that throughout the world are dedicating a lot of time and technology to it being a safe method with which to acquire goods or services.
Its origin is a mystery, since the person or persons responsible for his birth have never revealed his true identity (not even know how many), but they signed his work under the name of Satoshi Nakamoto.
It was the year 2009 and the idea was to create a currency that only served to make disbursements in the network, which had no existence in the physical world.
Then, as there is no state behind deciding whether to coin more currency, how do you decide how many Bitcoins are available?
Well the own supply and demand of its users: if many are requested, then many are “created”. This same nature, based on what your target decides, means that its value is not very stable: it is one of the currencies whose value fluctuates the most.
The validity of the Bitcoin depends only on the acceptance of transactions with this currency and it is clear that it does not need the intervention of third parties, but that the people among themselves are contributing and detaching themselves from them.
Bitcoin has come strong and lives a time of splendor where many people have wanted to involve in its creation, management, exchange … the detractors claim that it is something that will deflate and the most negative believe that it will be banned by the states (countries) and you will have to stop using it.
Be that as it may, the undeniable fact is that right now it is a powerful currency and it seems like the answer that many were waiting to prevent others from making decisions about the value of your money or the cost of your transactions.
HOW DO I USE BITCOIN?
To deposit in your online casino with Bitcoin, you must first create your Bitcoin wallet. There are several applications for this.
You can choose between installing one on your computer or cell phone, or using one online.
From there you should simply acquire Bitcoins. And for this there are several ways to acquire them:
Changing your conventional currency for Bitcoins.
Participating in transactions with payments in Bitcoins.
Creating them through a complex computer and mathematical method that has received the name of “mining”.
In your purse there will be the Bitcoins that our account says we have, the only difference is that there is no trace of it either on paper or in any file on your computer.
ADVANTAGES OF USING BITCOIN
Bitcoin is a transparent and safe product according to its users: being a product of exchange from person to person one saves the expenses of the intermediaries that intervene in all other forms of payment.
As for its security, the mere fact of its existence is based on the most elaborate cryptography. They also ensure that nothing remains hidden since anyone can check that everything is fine as far as the protocol of its operation is concerned.
As for sending or receiving money through Bitcoins, it is relatively simple, as well as writing and sending an email.
You have an “address” for this purpose (you will get it through any of the applications or programs that you can find).
But this does not make your “wallet” less safe, since there is a public address for the transactions and another one to start your session and operate with your account.
Security is provided by the thousands and thousands of users who validate the value of your account.
Another advantage over, for example, bank transfers, would be that you do not have to adapt to the working hours of your bank, nor should you be subject to a currency exchange that can make you lose value in an international transaction.
Also your real personality is protected by the encryption of your account, your data is safe and everything is anonymous and discreet.
DISADVANTAGES OF USING BITCOIN
The main disadvantages of this mode of deposit may arise from doubt or distrust. For those of relative fear of the unknown, it may be too abstract to use money on it.
Then, even though you do not need a lot of computer knowledge to have your Bitcoin wallet, it is true that understanding the procedures through which it is created, grows, fluctuates and protects has a certain difficulty.