Bitcoin bingo rooms, a detailed site of Bitcoin and the casinos that accept this banking method for deposits and or withdrawals.
Confused by the whole concept of Bitcoin? Don’t feel bad, so were we and let’s be honest, some of us still are! If you think about it, most of us don’t even know much about how our history of our local currencies. We just know that they work and we start spending. The truth is, there are certain aspects of Bitcoin Protocol, like cryptography and digital signatures, which one must understand to have a full grasp of how this works. Do you really care? All you need to know is how to use it and why you should, right?
With that said, our aim is to get you comfortable enough to play bitcoin bingo sites reviews by covering what this cryptocurrency is, how the heck it works, how you can get some and a very helpful video for those of you that prefer an audible introduction.
What is a Bitcoin and How Does it Work?
So, here’s the part that gets slightly into the interworking of the network. We’re barely scratching the surface here but if you’re not interested, skip to this section and head straight to the benefits of using Bitcoins and find out how to get your virtual hands on them.
Ah, yes, what is Bitcoin? It’s a digital value, which works based on the exchange of digital information using cryptic algorithms. You’re used to holding a note or bill in your hands but in the case of Bitcoin, this digital currency takes no physical form. In fact, it can represent much more than money but let’s stick with cash for the purpose of Bitcoin gambling. The system allows us all to join our computers to conduct the bookkeeping.
No person, company or organization is in control of the value either. Wait a minute, no one owns the Bitcoin network? How could this be? In the US, the Federal Reserve controls the US dollar but there is no one like banks, government and other middlemen behind the scenes of a cryptocurrency. The ledger of our common currencies is closed to the public however, this is not the case with Bitcoin. The Bitcoin ledger, known as the blockchain, may be seen by everyone making it impossible to cheat by adding or taking anything away plus transactions are conducted with unique digital signatures of the users. Every user has a copy of the blockchain so if everyone’s ledgers do not match at all times, a transaction will be refused.
What’s so Great About it?
Transacting using Bitcoin does not require a merchant account and may be done via any device with an internet connection. Users are assigned a Bitcoin address, which you can share to send or receive payments. The shroud of privacy has somewhat been lost as identification verification procedures are often required for higher transaction limits. As for the payments, there are delays in sending and receiving since weekends and holidays that effect standard payment processing do not apply here.
In terms of software, SoftSwiss is a provider that offers bitcoin casino games specifically designed for the use of this virtual currency. In fact, they’ve built a platform dedicated to it. There are far more casinos dedicated to this currency than there are bingo sites. Having said that, many games compatible with this and many other types of currency are available among various bingo operators. For example, BetSoft creates a range of compatible slot games.
How do You Get a Bitcoin?
The time has come to try this out but first, you’re going to need is a Bitcoin e-wallet, known as a Bitcoin exchange. They will accept deposits from US funding accounts such as a direct debit to your bank account or a credit card transaction. Outside of the US, the sky is the limit. Other opportunities to obtain Bitcoins include mining or even working for it but the simplest way is to buy some from a Bitcoin exchange.
Once you’ve opened an account with the e-wallet of your choice, you will be assigned a Bitcoin address, which you can find in your profile or when you send/request money. Depending on the transaction amounts, the Bitcoin exchange will require you to submit copies of your identification, driver’s license or passport, before use.
Fund your account and buy Bitcoins.
Now, you’re ready to start playing bingo! Get started with any of the sites on this page and visit the resources listed below to help you enter the Bitcoin pool.
External LinksHowtoBuyBitcoins Website
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