The Currency Of The Future for Online Gaming is Bitcoin

A Norwegian man, Kristoffer Koch has benefited big-time after he bought Bitcoin at the perfect time. He purchased 5,000 Bitcoins for 150 kroner ($27) during 2009 when he was writing a thesis on encryption. He forgot about his purchase it until he read a media coverage of peer-to-peer currency four years later. He checked his forgotten investment, and was very surprised to find hat his investment of $27 had ballooned to $886,000. Bitcoin digital currency is still quite volatile, however, it is climbing. Since 2009 when it was sold for next to nothing, it is now showing continual growth, despite some bumps on the road, it is currently trading at US$648/Bitcoin, October 2016.

Buying Bitcoin

To buy Bitcoin you need to create a digital wallet, Blockchain is one of the popular ones but there are others, once your wallet is opened, there are different ways to getting Bitcoins.

  • Receive Bitcoins for sales of goods or services
  • Buy from a friend
  • Exchange flat currency for Bitcoin through a digital wallet exchange service
  • Mine Bitcoin, there are mining companies you can join and earn Bitcoin
  • You can win btc (Satoshi a portion of Bitcoin) through the many faucets online.

Once you have funded your digital wallet with Bitcoins, you can keep it as an investment, use it to pay for services/goods online, there are more and more merchants using Bitcoin as a payment method, some big names that use Bitcoin are Amazon, Home Depot, Wordpress, Reddit, and some UK pubs are accepting Bitcoins for a pint of beer.

AT this present time, many online casinos are now accepting Bitcoin and a deposit and withdrawal options, and online gaming players are finding that its the ideal currency to enjoy their online gaming, as a safe method of effecting online transactions. Land-based Casino have not yet gotten on to this method of payment, there are still only a few that accept Bitcoin.

Online Casinos offer Bitcoin and players are happy to use this service, using Bitcoins for Online gaming, players find that its faster, cheaper and simple to conduct the transactions and an added bonus is that all transaction are virtually anonymous. No names are mentioned in any of the transaction using Bitcoins, as each digital wallet identifier is a strong string of letters and numbers, that means that the person's identity cannot be revealed with a Bitcoin ID in any transactions.