ecoPayz bingo rooms, a detailed site of ecoPayz 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 know much about how our local currencies work. We just know that they do and we spend it. The truth is, there are certain aspects of Bitcoin Protocol, like cryptography and digital signatures, which once must understand to have a full grasp of how this works but 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 bingo using Bitcoin by covering what it 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 on Earth is Bitcoin?
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 playing bingo. 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?
In a word, privacy. 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. As for the payments, there are delays in sending and receiving since weekends and holidays that effect standard payment processing do not apply here.
How to Get Some
The time has come to try this out but first, you’re going to need is an e-wallet, known as a Bitcoin exchange, like Coinbase, for example. 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.
Fund your account and buy Bitcoins.
Now, you’re ready to start playing bingo any of the sites below. SoftSwiss games are compatible with Bitcoin. In fact, they’ve created a platform dedicated to it. Enjoy!
External LinksHowtoBuyBitcoins Website
Bingo Sites Found
Highest Community Rated Bingo Sites
Join today and start earning awards
You will immediately get full access to our online bingo forum/chat plus receive our newsletter with news & exclusive bonuses every month.