Bitcoin and other altcoins are definitely revolutionizing online and mobile gaming industry offering a whole another level of security, speed and anonymity added. That’s why it’s no surprise why millions of players use cryptos to wager online. In fact, one industry that was the quickest to learn and then invest in altcoins has been online gambling industry. Following SatoshiDice which was among the first to include Bitcoin as a payment method, many online gambling venues decided to follow the trend embracing virtual currencies. In just a short time, online gaming sites have had massively successful results from the use of cryptocurrencies. At the same time, these sites have also inspired other industries to think outside of the box when it comes to payment methods.
A virtual currency is a simple set of different digital numbers its users assign a certain value to in order to exchange it for services or goods. Bitcoin and other altcoins, in fact, work very similarly to how we assign a different value to fiat currency or coins, but here everything happens digitally as altcoins do not exist in any physical form. Major cryptocurrency networks track each transaction made every day unlike fiat money transactions that can be made in private.
Every cryptocurrencies transaction and record is totally transparent being protected by digital systems and mathematic security, using cryptocurrencies for online gambling is highly secure, easy and fast as these transactions are not regulated by any type of financial institution or government. This system used for altcoins transactions is named blockchain. The introduction of this system back in 2009 has paved the way for Bitcoin, other virtual currencies and various blockchain platforms which are today used in different industries.
First thing when gambling with Bitcoin or other virtual currencies is finding a virtual currency-friendly online gambling or mobile gambling venue. Depending on your location, you will most certainly have these types of venues available that accept Bitcoin and other altcoins. Engaging in different online gambling activities including sportbetting, video slots an classic table games using virtual currencies is especially popular among African players, so there are many venues very friendly of cryptocurrencies, so you will have no issues registering at one. These types of venue accepting virtual currencies have massive gaming libraries, so as soon as you register and have your account set up, you can start playing your favorite games.
There are hundreds of video slots, different video poker games, classic table games such as Roulette, Blackjack, Baccarat and other. You also have an opportunity to play different types of Poker and other games such as Craps, Bingo, Sic Bo, Lotteries and much more. In order to co confirm your account at your chosen Bitcoin-friendly online gambling venue, you have to follow the link which is sent to your provided email address. Once you have your account confirmed, the next step is to deposit virtual currency that is accepted at your chosen venue. Just click on the deposit button and follow the on-screen instructions. You have to head to your wallet and transfer the amount you want. Once you are done with funding your account, you are ready to play. When it comes to mobile gambling, the steps you need to take are the same. As soon as your account is funded, you can play your favorite games anytime and anywhere on your mobile phone. It should be noted that your Bitcoin or other altcoin transaction may take several minutes to be done.
Considering great benefits you get to take advantage of when wagering using altcoins, there is no any surprise in the fact that more and more players chose to use Bitcoin and other virtual currencies as their preferred banking method. Bitcoin and other alternative cryptocurrencies provide greater privacy, cheaper and faster transactions in comparison to those traditional banking methods using physical currencies. The best alternative currencies you can choose for your gambling activities include Litecoin, Monero, Novacoin, Reddcoin, Dash, and Bitcoin. All of them work in the same way. Upon registering at your chosen venue, you need to fund your account with one of the accepted currencies. As soon as you have your account funded, you can start playing.
The main idea of Bitcoin and other virtual currencies is that no one has that full control over them in order to allow entirely anonymous transactions. This is the main benefit of gambling using cryptocurrencies. You can enjoy the greatest anonymity as you do not have to deal with banks or any central authority. This, along with ease of use, small or no fees, and fast transactions, are the reasons why many players are switching to cryptocurrencies when betting online. After creating your altcoin wallet, funding it with your preferred altcoin and depositing with your chosen gambling venue, you are ready to go. When you are ready to make your first withdrawal, the process is fairly simple. You need to enter your cashier page and withdraw your desired amount. Your funds are commonly available instantly, and you get to spend them as you like.