What Is Bitcoin?
Do you want to find out what bitcoins is and how it is used in the gambling world? Are you looking for the site where you will get information on how bitcoin relate with internet base poker? If these are what you want, you are in the right place as this post is made to take a quick glance on what bitcoin is. Bitcoin is simply a decentralized crypto currency.
It is coined decentralized owning to the fact that it is not controlled by any financial institution, government or even backed by any bank. This explanation can make people lose their trust in the currency and think it is not what they should go for. (read more about: what is bitcoin casino?)
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The Benefits of Bitcoin as a Digital Currency
The fact that bitcoin is a digital and crypto currency made it to offer better security than government as well as banks. Even precious metals like silver and gold are not even better than digital currency due to the fact that their prices are always fluctuating. But, if you want to use bitcoin, the first thing you have to do is to download bitcoin wallet to your computer and that is where your entire bitcoin will be stored and secured safety. Also, you can transfer bitcoin from your wallet to anywhere 24/7 including in the bitcoin casino and bitcoin poker sites. There is even opportunity for you to register bitcoin wallet online but make sure you choose reliable platform like Blockchain.info. Another thing you will need to do is to buy some bitcoin in order to finance your wallet. The process is not only secured but straight to the point.
How to Buy Bitcoin to Fund Your Bitcoin Wallet
You can do that through any of the online based bitcoin exchanges and bitstamp.net is the recommended site for the transaction. It is secured, fast and also offer low fee to all users. After purchasing the bitcoin from your preferred exchanges, you will need to transfer the amount to your already created bitcoin address right inside your bitcoin wallet. It is not advisable for you to leave huge amount of bitcoin in the care of an exchange, so make sure you transfer the bitcoin into your own wallet. This is for both safety and practical reasons. There are different methods through which you can purchase bitcoin. Also, there are many currencies you can use to buy bitcoin from different exchanges. After buying bitcoins you will be allowed to use them anywhere you want and enjoy anonymity and safety. Another thing is that you can exchange your bitcoin into fiat currency through any of your selected bitcoin exchanges online.
How to Play Poker with Bitcoin
One thing you should note is that you will not play with bitcoin currency when you are playing in any poker site that accepts bitcoin as mean of payment. Rather the poker site will convert your bitcoin currency into the base currency of the poker site. For this reason, most bitcoin accepting poker sites normally present players with different poker base currencies at the time of registering account with them which you can to play the poker game as well as the tournaments. You will find the exchange rate of the bitcoin to the base currency of the poker site boldly displayed on the poker site. That will make you to see clearly everything and know when you are getting good deal. (read more about: How to choose the bitcoin casino?)
How to Play Casino Games with Bitcoin
When you want to play mobile and online bitcoin casino, the process you will need to follow will be same with the one in the poker site. That means the bitcoin casino site will convert your bitcoin into their base currency and the exchange rate will be boldly displayed in the bank interface on the site.