About Bitcoin

Bitcoin is an new age electronic money system, which operates on peer-to-peer approach, just like familiar torrents. Making this method of transferring money so different to traditional banks. Bitcoin has no control centre, the open system operates autonomously and complies with complex algorithms.   The transaction information is encrypted with details of participants. Due to its unique properties, Bitcoin opens up new horizons of opportunities that no payment system has made available before. You can gamble with ease using Bitcoin as all transactions are safe, fast and easy to make with no banking regulations.  Once you experience bitcoin pokies online you won’t look back and certainly won’t miss the nasty banking fees and credit card regulations.  Here we tell you a bit about the Bitcoin origins and how to play pokies online with Bitcoin.

WHO INVENTED BITCOIN?

Satoshi Nakamoto originally developed the Bitcoin platform however his identity remained anonymous for quite some time.  He introduced an electronic payment system based on mathematical calculations and algorithms. His idea was to make a coin exchange without any central authority and less regulation in electronic form, instantaneously, with minimal costs around the world.

WHERE DO BITCOINS COME FROM?

There is no single production plant for Bitcoin production but there are a limited number in circulation. Issue of Bitcoins is only possible in a digital form, and anyone from around the world can mine bitcoins. Bitcoin mining occurs through the use of computational power of a computer in a distributed network to process the complex algorithms required to make the process safe and secure. In the case of Bitcoin transfers, the transactions are processed by the same network, thus turning Bitcoin into an independent digital Bitcoin payment system.

BITCOIN BENEFITS

  • It takes a matter of minutes to open a bitcoin wallet and immediately start sending around the world instantly.
  • Most times Bitcoin transaction costs are free or extremely minimal.
  • The Bitcoin platform is extremely reliable, safe and secure and anonymous.
  • No central authority is able to dictate the rules when it comes to gambling with Bitcoin

Bitcoins

ANONYMITY

The main benefit when using bitcoin to gamble online and play the pokies is transactions are completely anonymous and transparent at the same time.  It is possible to create millions of Bitcoin addresses without name identification, address or any other personal information.  You will not be required to submit any personal details to use bitcoin. However Bitcoin stores the records of all transactions in what is called a blockchain.

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WHY USE BITCOIN WHEN PLAYING POKIES

Depending on your country of origin it can sometimes be difficult to play pokies online with transaction costs and regulation.  Using Bitcoin to gamble online allows freedom to make bets where Bitcoin is accepted and play pokies accordingly.  Most modern day casinos allow deposits and withdrawals in Bitcoin.

HOW DO I USE BITCOINS?

1 BITCOIN WALLET

All you need to do is create a Bitcoin wallet to get started via one of the many Bitcoin wallet providers. Some of the most popular include Blockchain, BitGo, CoinBase, GreenAddress, Xapo.  Signing up usually only takes a matter of minutes.

2 HOW TO BUY BITCOIN?

Once you have created your Bitcoin wallet, simply buy the number of bitcoins you need. This can be done on one of the Bitcoin exchanges, information about which you will easily find online as well.

There are also automatic online exchanges. Bitcoin is a very liquid commodity, you will never have problems with its purchase or sale.

3 HOW TO SPEND BITCOINS?

The number of companies and online casinos accepting Bitcoins is growing exponentially. Always check before signing up to an online casino that they accept Bitcoins.