It was only a few years ago that only a handful of people knew much about Bitcoin (BTC). The cryptocurrency was largely the territory of “geeks” and tech-savvy people who were the early adopters of a technology with the potential to alter the world.
As dramatic as this may sound, the impact that Bitcoin has had and will continue to have should not be underestimated.
Far more people have their eyes on Bitcoin nowadays. This is perhaps not surprising after it almost hit a price of $20,000 for 1 BTC at the end of 2017. More importantly, these days, you can buy all kinds of goods and services online with the cryptocurrency.
The online gambling industry has also embraced Bitcoin. BTC is a natural fit for online casinos, poker rooms, bookies, and other gambling platforms for a number of reasons.
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If you are interested in learning how to gamble with Bitcoin, this guide will give all the info you might need.
Bitcoin is a cryptocurrency or a digital money system that is spread globally.
This means that Bitcoin doesn’t use physical items such as bills or coins. It’s stored online in the so-called wallets and traded on BTC exchanges.
Imagine that having a Bitcoin wallet is similar to having a bank account. You can use the money in there to buy stuff or transfer cash to other people’s wallets. The only difference is that you can’t “physically” withdraw your Bitcoin, but you can exchange it for fiat currencies like the US dollar or Euro.
One of the principal characteristics of Bitcoin is that it is decentralized. This means there’s no government or another authority that issues BTC or somehow controls the process. Instead, every user has access to the blockchain. This is a system where all Bitcoin transactions are registered.
The combination of transparency and secrecy is one of the main reasons behind the success of BTC. As you’ll discover later in this page, it’s also why online gambling with Bitcoin has proved so popular.
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