A Dummies Guide to Bingo & Cryptocurrency

A Dummies Guide to Bingo & Cryptocurrency

Get to Know You Bitcoin from Your Litecoin

Paying for your bingo can be a lot more rewarding than you think. Standard deposit methods such as the debit card or PayPal may be quick and convenient, but are you getting the best value for your money this way? The answer is probably not! So, what can you do? Shop around to find the best bonuses for your preferred way to pay, or you can play with Bitcoin.

When I first heard of cryptocurrencies, a dark cloud began to suffocate my brain, it just seemed too complicated to even grasp let alone use, but in reality, it’s a simple service that could result in you getting more for your money! Known for their extreme security and anonymity at the highest level, cryptocurrencies are becoming more and more popular, and not just with traders but with online bingo and casino players too. Due to its decentralised nature, anyone can buy and sell the currency, unlike traditional banks where there are certain criteria that must be met.

The new generation of cash is a virtual exchange medium which utilises a cryptography to secure its transactions and control the creation of the system units. If I’m already losing you, don’t worry, it gets easier! Cryptocurrency exists solely in the online marketplace and is based on open-source software, cryptography and networking. You don’t need to be a data analyst to be able to use these payment methods and once you’ve taken the plunge, it will become as effortless to use as say a debit card or e-wallet.

Cryptography isn’t a 21st century thing…

…it was first used during the second world war to secure information, but as with most inventions, as the years rolled by, it has evolved to become a digital system to secure information, communications, and money online. The currency was created in 2009 when Satoshi Nakamoto came up with an idea on how to change the world. His peer-to-peer electronic cash system was first used to trade and now it can be used to purchase goods and services online.

What They Are and Where to Use Them

What types of cryptocurrencies are there? I’m glad you’ve asked! Here are four of the most popular used:

  • Bitcoin: This cryptocurrency was the first to be invented, as you already know, and is the most commonly used to this date.
  • Ethereum: Created in 2015, this is more your token-based currency used in an Ethereum blockchain.
  • Ripple: In 2012, this specific cryptocurrency was formed with a distributed ledger with something the previous two cryptocurrencies do not offer – a feature to track the type of transaction made and not just cryptocurrency.
  • Litecoin: Similar to Bitcoin, Litecoin offers faster payments with more time being spent of the transaction processes.

The value of the ‘coins’ fluctuate, similar to that of stock market trading, the value of which will depend on the bonuses you ultimately receive. At its peak, the highest price bitcoin reached, was $20,089 on December 18th, 2017. Fast forward to April 2021, and that same Bitcoin was now worth a staggering $63,729.50!

Now for the most important part…

…where to get the most out of your money! Here at LBB, we list 13 online bingo sites offering Bitcoin as a deposit method, and because we like to put them to the test to ensure player satisfaction, we can tell you 11 of those are ensuring the best possible gaming experience through a series of promotions, perks and customer support. And it’s not only in the United States where you can use cryptocurrency to play bingo (or games), but here in the UK too!

Bingo Billy is one of those 11 reputable sites where Bitcoin can be used as a deposit, but why spend your money when you can play for free? Sign up with our exclusive code LBBBONUS and receive $80 in free play before a progressive welcome bonus package deal of up to 600%!

And when it comes to getting the most for your money, Bitcoin boosts don’t come bigger than the boosts at Amigo Bingo, your friendly online bingo and gaming destination. Bitcoin caters for fast and effortless transactions to and from your bingo account. Deposits are simple and withdrawals are paid instantly if your account is verified. Other perks of this deposit method include:

  • Bitcoin deposit welcome bonus of 30 free games on the Bitcoin Bob slot, 1 team bingo entry as well as 200% bonus on top of all other bonuses!
  • Bitcoin exclusive bonuses on top of all other deposit bonuses! Receive $20 bonus when you deposit £30 to $49, $50 bonus with a Bitcoin deposit of $50 to $99 and a $150 bonus with a deposit of over $100!
  • Bitcoin depositor reward card will reward you with a bonus of up to $500 on every 10th Bitcoin deposit.
  • Bitcoin monthly raffle will put your name into the draw to win one of the following every month: $100 cash and 30 spins, $50 bonus and 20 spins or $25 bonus and 10 spins.
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