With the advanced technology that we have available now, and all of the digital currency to accompany it, it can’t come as a surprise to that many people that casinos are starting to adjust to the new swing of things. Whether or not you are a fan of digital currency, it seems to be a trend that is coming up quick. Here are a few things you should know, and some of the answers to a few questions you might have about the situation.
What is Bitcoin?
Bitcoin is described as a digital currency, but what is it actually? Is there real money behind it? What stores accept Bitcoin? How do you get money out of it? While I might not be able to answer all of those things, I can do my best to clear up some things.
When trying to find out what Bitcoin is, you are told that it is a computer file stored inside of a digital wallet. When you are looking to send Bitcoin to someone, you are really only ever sending a piece of that computer chip to them. That is why it takes so long to make a real profit from the currency. This is also why it is so easy to mine for them and get small bits. While you might feel like a millionaire with a thousand small bits, you need thousands more to make up a couple of real dollars.
The trick with Bitcoin is that it’s hard for a lot of people to understand, which is why a lot of people don’t know whether or not they can trust it. We’ll talk more later about if you can or cannot trust Bitcoin as a real currency.
How long have online casinos been around?
Something else that may shock you is the fact that online casinos have been around for almost the entirety of the existence of the internet. The first online casino was opened in 1994. This means that, depending on your age, your grandparents might have been able to dive into the world of online gambling when the internet first came about. While there are many sites online that offer online gambling and a chance to make money, you should always make sure that you aren’t being scammed. We’ll talk about to reliability of bitcoin casinos a little later in the story.
How long has Bitcoin been around?
Bitcoin was originally introduced at the beginning of 2009. Believe it or not, it has actually been around for a very long time and has just now started to become something people were interested in. The trick with Bitcoin is that it’s hard for a lot of people to understand, which is why a lot of people don’t know whether or not they can trust it. We’ll talk more later about if you can or cannot trust Bitcoin as a real currency.
What is the relationship between Bitcoin and online casinos?
If you think about it, it actually makes great sense that Bitcoin and online casinos would team up at some point. The whole point of having an online casino is so you can bet digital money and win digital money back. Things get complicated, and a bit sketchy, when you are including banking information in your profile sign up form. But if you choose to work with Bitcoin, things get a lot safer, and a lot more difficult for hackers trying to steal your money from you.
Some sites might already offer Bitcoin as a choice of payment when you go to their online casinos, but that number of casinos will slowly grow in the next few years due to the popularity of the digital currency.
Are online gambling sites popular?
Despite how little you might hear about them, online gambling sites have remained popular from the moment they were officially placed on the internet. If your state allows gambling, especially online, then you have probably heard of many people talking about it but you never noticed until now. Don’t be worried about getting involved only for the entertainment and crowd to fade, the online casino population isn’t lowering any time soon.
Can you trust Bitcoin?
Because of how long Bitcoin has been around, if you understand how it works, it is very safe. The currency is completely digital, so there might be a few people who are concerned about hackers, but the coin means nothing to them because they can’t use it anywhere where they won’t be tracked. If you do get hacked, that transaction is tracked too. There is nothing that happens with Bitcoin that the creators are not aware of. So, I would say that yes, you can trust Bitcoin.
Can you trust online gambling sites?
As long as you do the research first, you can trust online gambling sites. You have to make sure that you are signing up for a real site, with real benefits, before giving them your personal information. Look at the reviews for the site, go to different websites that tell you if something is legit or not, and if all checks out, go ahead and sign up.
Will there still be other options for currency if you decide you don’t like Bitcoin?
Because everything is digital, it might be hard to find a site that will allow multiple options for payment. But you should always have PayPal as an option if you don’t like Bitcoin. This doesn’t mean that everywhere will give you this ability to switch payment methods. It is all going to depend on how the site works, who manages it, and many other things. So it is important to keep in mind that you might have to come to terms with this new Bitcoin currency if you are currently against it.
Until then, you shouldn’t see PayPal disappearing anytime soon. There is no need to worry about your online gambling coming to an end due to changing in payment methods.
Is this something you should be looking forward to?
If you are interested in technology, you like watching things improve for the better of the world, and you like making money easily, then yes you should be very excited about this new development. However, if you are less interested in things going more digital, and you would prefer things stay more physical so you can count your money in person, this change might take awhile for you to adjust to.
It is important to remember that not everyone knows how Bitcoin works, or online gambling. If you are one of those people that understands how Bitcoin is put together and managed, you should try to explain this to the other people who aren’t sure about this change. As the world becomes more digital, and technology becomes more advanced, you will soon see Bitcoin as a payment option almost everywhere.
So you want to make sure that if there is anyone around you who is unsure of how it works, or unsure if they can trust it at all, enlighten them so that they are prepared for when your entire payment is switched to digital currency.