Unless you have been living underneath a rock for the last few years, you will have a slight idea of what cryptocurrency is. But, for those of you who are still relatively new to this revolutionary type of currency, let us give you a crash course on everything that the crypto-currency has to offer.
What is Bitcoin?
Ever since the inception of bitcoin in 2008, the use of the alternative currency has been rapidly increasing all around the globe thanks to the fact that it is controlled by the free market and doesn’t hold any ties with central banks.
Bitcoin is a type of currency that doesn’t come in a physical form and is solely based in the digital world where different encryption techniques are used to regulate the generation and payment of currency units.
Bitcoin first started to appear on online casinos back in 2012 with a number of smaller start-up sites trialling whether it could work as on online casino currency. As the popularity of the free market currency continued to grow, more and more casinos started to incorporate the payment method.
Enjoy faster payment times by using Bitcoin
What makes bitcoin so popular amongst casino players, is the fact that when you are paying into or withdrawing money from an online casino, the payment is much faster than using traditional payment methods.
On top of the speed, bitcoin users also face fewer fees and can even play at casinos in a number of countries that may not have been possible if they were using conventional payment methods.
What does the future hold for Bitcoin?
In the fast-moving world of iGaming, online casinos are always looking at ways in which they can improve users experience. As the level of people using the crypto-currency continues to grow from strength to strength, we wouldn’t be surprised to see an increase in the number of casinos accepting this new age currency.
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