Bitcoin And Gambling
In order to gamble at an online Casino that does not use Bitcoin, you have to complete a number of tasks. Fill in your credit or debit card details, your name and address Bank details inside leg measurement (just joking) but you get my point. You are now known and the information you have given can be used and abused.
I know Banks say you are 100% safe with their security but recent events have brought that into question. Even if your transactions are safe they cost you money and time.
So what is Bitcoin and why is it different. Well, it is a type of cryptocurrency. Balances are kept using private and public keys. These are a very long number linked through the mathematical encryption algorithm used to create them. The public key is like a bank sort code and account number.
The private key is like your pin number which is secret and used to authorize transmissions.
One advantage of Bitcoin is that you remain anonymous and can buy or sell without having to answer to anyone.
Gambling With Bitcoin
The best way to gamble using Bitcoin is to first get a Bitcoin Wallet. The is a software program where Bitcoins are stored and where you keep your private key mentioned earlier. There are three types of wallet – mobile, desktop and web Desktop – installed on a desktop computer. They all provide complete control.
They enable you to create a Bitcoin address for sending and receiving bitcoins. You can also store your private key here. You can find details online where to get these, such as, Bitcoin core or Electron etc.
Mobile Wallet is an app for your smartphone. It allows you to use for payments anywhere at the click of a button. Web Wallets allow you to use anywhere on browser or mobile.
Then decide how much you want to gamble a month keeping it to what you can afford to lose and put that amount in your Bitcoin wallet. Study the games first without committing and see which you enjoy along with are good at.
Try games using the introductory bitcoin casino bonuses and any special offers. At the end of the month transfer your winnings to a new wallet. Start again keeping your profits separate and your guidance intact. This way you will never end up in a mess.
Watch the price of your BTC as it can rise or fall very fast.