A Short Bitcoin Guide

If you are a fan of online gambling and you have been a part of its vast Internet world and community for some time now, you most definitely have heard by now about Bitcoin-the online currency that is making every player’s experience faster, cheaper and more comfortable. There are many reasons why an online gambler should consider putting his trust in Bitcoin. First off, it makes the time you spend playing gambling games and dealing with your acquired rewards less complex. The process of getting your hands on Bitcoin itself is quite easy as well-it takes just half an hour. One can simply get Bitcoin online through a credit card transfer. One of its most important traits is the fact that it is safe to use by following several simple steps.

Connecting to Bitcoin

The first thing you got to get on the way to Bitcoin is a wallet. This is an online vault for your online money acquired through Bitcoin. It is very easy to get one-players simply have to download it from the application store from any smartphone. BreadWallet for instance is one of the most popular wallets because it is very easy to utilize, its security capabilities are increased to a maximum extend and is one of the most adaptable for both Android and iOS. All together there are five types of wallets-mobile, desktop, online, paper and hardware. Then, the player will need to purchase Bitcoin. There are three ways to buy Bitcoins-through Regulated Exchanges, through Peer-to-Peer Exchanges or through Bitcoin ATM-s. That is achievable with an online purchase with the help of a debit or a credit card.

Types of Exchanges

The so-called regulated exchanges are quite safe but they do require an ID picture in order to work (part of the process of the creation of an account). The verification of your account might not happen instantly but once it does, you will be free to make the best out of Bitcoin’s comforts. Additionally, funds can be taken through Bitcoin without the provision of an ID card but the withdrawal will take a longer period of time. Players can also expect that their wallet address might be required again in the case of some purchases.

Peer to peer exchanges happen through special websites, which connect the gambler to a person, and the two take care of the transaction. LocalBitcoins.com is a great place for this type of exchanges and its services cover the whole world. It is good to remember that every purchase via Bitcoin is basically untraceable, which is quite comfortable for you, even if it is possibly infringing one or two laws (which depends on a lot of factors). However, the anonymity of Bitcoin will force some sellers to ask for an ID and you should do the same in order to take measures against possible fraud scenarios.

Bitcoin ATM-s are perhaps the simplest version of a Bitcoin withdrawal. It is both easy and safe. Admittedly, Bitcoin ATM-s aren’t exactly placed on your neighborhood corner so it would be a good idea for you to visit CoinATMradar.com, where you can find information on the nearest Bitcoin ATM to your location. Bitcoin ATM-s could ask for an ID as well but not necessarily. They will definitely ask you, however, for the address you will want to send money to. Then the user will have to just insert their card into the ATM, verify the given address as well as the transaction and the money will be sent immediately.

Bitcoin History Highlights and Tips

As a potential customer of this highly valuable service for online gamblers, it is good for you to be aware of some facts. One such is that the first Bitcoin transaction happened in 2010 when two Papa John’s pizzas were bought for the price of 10 000 Bitcoins. The largest Bitcoin transaction took place in 2014 and involved 114 million American dollars. In 2015, Forbes successfully prophesized the thrive of Bitcoin. Useful hints for users of the online currency are for instance that if there is a large sum of online Bitcoins that has to be kept for a longer time span, the best options are a hardware wallet or a paper wallet. They are the ones that can’t be hacked or compromised and therefore the safest. You could use online ones but it will be best if you divide the sum on several accounts. Always pick a Bitcoin seller that is known for its good service and honesty. Once the transaction is made and the fraud is committed it is far too late. Bitcoin will be as safe for the thief as it is to the victim. Keeping in mind that the Internet is just as dangerous as it is comfortable, Bitcoin will make your online gambling world infinitely better and it is more than worth trying.

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