Bitcoin Casinos

Bitcoin (BTC) is a type of cryptocurrency that works on blockchain technology. Cryptocurrencies refer to all types of currencies issued with use of technical software and having no binding to any governments or countries. In contrast, we commonly use traditional currencies like the dollar, euro, krone and so on.

The blockchain is a technology used to save information in the continuous number of records (blocks). All those records are linked between themselves, secured using cryptography and saved at different servers. That means any piece of data can`t be removed or tracked. Once recorded, your blockchain operation stays forever and your deposit always has a prove.

Every bitcoin can be split into 100,000,000 pieces. The 0.00000001 bitcoin part is called a satoshi. You can pay with thousands and hundreds of parts of BTC. Commonly, you pay with a bitcoin amount equal to some traditional currency amount.

There is only you and online casino to know about your payment. Transaction details are coded into symbols, so any of your personal information would be revealed. That is completely anonymous.

No. Information about the deal is secured by cryptography. People who don’t actually know who you are, can’t find out where you are from.

Using special bitcoin exchange services like Bitstamp, BTC-e, Kraken and others, you can buy BTC or it’s part equal to some traditional currency amount. In fact, this is not the only way to own bitcoin; you can get it by transfer from someone who owns it. Bitcoin can be kept in specialized wallets, though many banks provide bitcoin wallets as part of their services.

Your transaction data should be saved at several servers. The time required for this is the time of confirmation. This process may take a few minutes or several hours depending on your fee. This fee is alike the commission to bank services; in fact, you pay to miners to process your data quicker. The higher fee, the quicker the transaction. online casinos have nothing to do with those fees.