Bitcoins for online slots
The Bitcoin Advisory
What the heck are Bitcoins? For old timers like us, change is something that is VERY difficult to deal with. We have a history that is built on our ability to change. We have faced drought, depressions, and indeed we have faced war. Now we find ourselves facing another great enemy, change.
First we had our hard earned cash in our pockets. Then it went into our bank account and we spent it by writing checks. Finally we used our credit cards. At all stages here we used our dollars, our currency so easy to recognize, and familiar to the touch. So what is this Bitcoin that we are being told we simply "have to have"!
After exhaustive reading we have seen the light. In today’s world, you no longer are playing at your favorite casino, you are now playing at your favorite online casino. Bitcoins would not exist if not for the internet. They are thus known as a cryptocurrency (electronic currency). Bitcoins are also controversial because they take power away from the government, the banks, and so forth. You own a Bitcoin and while the transactions are inspected (to prevent fraud), the actual identity of the owner is protected. If your online casino accepts Bitcoins then you can deposit and withdraw freely without the eyes of the law on your transaction. We are not trying to promote law breaking but this certainly sorts out controversial laws like the right to play online.
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More about Bitcoins
Bitcoins hold value in the same way as gold holds value. You might lock a gold coin in a vault, well you can keep your Bitcoin in a specially designed ewallet. Your account and each transaction is totally numeric. It’s almost impossible to hack and the difficulty in hacking or counterfeiting Bitcoins has led to them being considered seriously safe.
Each Bitcoin exists as a ledger entry. Each transaction is recorded in the ledger using software known as the Blockchain. Every few hours, similar transactions are clumped together and added to a block in the Blockchain. These transactions are all verified and confirmed. This ensured that Bitcoin and the Blockchain churn out only valid transactions and that the cryptocurrency itself is of a true value. Manipulating the currency is so difficult that very minds exist that could achieve this and the effort it would take would simply not be worth the individuals whiles.
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In addition to your Wallet we would also suggest joining a service where you can buy Bitcoin to deposit into your Bitcoin Wallet. We recommend Coinmama for this function.
Bitcoins – A Summary
Get yourself up and running with a Bitcoin Wallet. The best we could find is Blockchain.info