Bitcoin is one of the most popular cryptocurrency currencies in the world, and today they operate in many places, just like traditional currencies. Particularly in the last couple of years, Bitcoin has become aware of the wider public as it flaunts its headlines in financial news headlines from the usual level to a whole new sphere.
With the rise in value, many people around the world have suddenly become unpredictable, and, of course, millions of sides of the mouth have gone from bad luck. For example, you may have come across the news of a man who bought two pizzas with his own bitcoins in 2010. The value of the pizzas got quite a bit as the value of the bitcoins in 2017 would have been around $ 22 million.
Although it is the most popular cryptocurrency in the world, most people still use it and operate it in full Hebrew – and understand that. Speeches on extraction, source code, and sathoses quickly mix head to head.
Ultimately, however, Bitcoin and its guiding principles are surprisingly easy to understand, and for the future, it is extremely good to master the basic principles of the cryptocurrency. Over the next few years, virtual currencies will play an increasingly larger role alongside traditional currencies, so you shouldn’t drop the sled right from the start!
While Bitcoin has become increasingly popular as a form of payment, especially for online services, it has naturally become a payment option for numerous online casinos as well. On this page, we aim to cover the basics of bitcoin with the utmost in depth and guide you through the use of online casinos. After reading this, you are probably much better off on crypto currencies!
Bitcoin online casinos and how they work.
Once you know the basics of bitcoin and how to get one, you can head out into the exciting world of online casinos. There are currently a few casinos that accept bitcoins, but no actual rush has yet been seen.
This is partly due to the fact that the popular Malta and Estonian Gaming License for casinos aimed at Finns does not yet support bitcoin as a form of payment, so as a rule, all casinos accepting that currency operate under the Curacao license.
However, it is only a matter of time before Bitcoin is accepted as a valid payment method for casinos operating under other licenses. Such changes are always taking their time, and as responsible players, the Maltese and Estonian gaming authorities want to work hard before accepting currency into their systems.
However, the current situation is by no means a barrier to playing bitcoins, as there are many great alternatives available today! In addition, some Maltese licensed casinos also offer bitcoin deposit on their sites, but the currency changes to euros when depositing. In this case, bitcoins will not appear in the casino’s accounts, and all cash transactions will remain in euros.
Deposit and withdrawal.
So far, there are quite a few online casinos that operate solely on cryptocurrency. Most of the sites are so-called hybrid sites, which allow players to decide the currency they use. You can play as usual using the Euro and other traditional currencies, or alternatively use Bitcoins.
If you have ever made deposits to an online casino using regular cash, you are guaranteed to deposit with bitcoins as well. In the simplicity of creating an account, you will need to select Bitcoin as the payment method from the deposit menu, and you’ll see the casino’s Bitcoin address.
You will need to use that address when transferring the amount of cryptocurrency you wish to your account. Usually the funds are transferred to the account immediately, but sometimes there may be a slight delay. Normally, however, the amount will appear in your account within an hour or less.
When making deposits, it is crucial that the Bitcoin address is correct, because if you transfer funds to the wrong address, it will no longer be possible to retrieve them later due to anonymity. So be sure to double-check, if not triple, the information used!
Bitcoin payments use the same secure connection as, for example, transferring money from a bank account to a casino, so making payments is completely secure.
When the cashier’s casino is making good profits and it’s time to cash out, there’s no more complicated procedure ahead of you than depositing. As usual, casinos require their customers to make deposits and withdrawals using the same payment method, and the same rule applies to cryptocurrencies. This method is in place to prevent money laundering and is monitored by the gaming authorities.
If you want to play without giving it bigger details about yourself at the casino, bitcoins can easily do that. Since the currency is based on anonymity, there is no need to send passports or other personal documents. All currency transactions between the casino and the customer will only work with Bitcoin addresses.
Casinos usually pay out Winned Bitcoins in about a day, and since there is no need to verify an account, the payout time may not be delayed, as traditional online casinos sometimes do.
Bonuses on bitcoins.
In terms of bonuses, bitcoin casinos are not much different from their traditional rivals, as bonuses are equally available. The benefits of some hybrid casinos may not always be exactly the same as when playing traditional currency, but they are still available.
However, at times, sites specifically thought of as Bitcoin casinos may be even better off with cryptocurrency gambling than with traditional money. A good example of this is Bitstarz, which offers new players deposit bonuses for up to the first four deposits.
In practice, bonuses and their terms work in exactly the same way as they are used to. They are equally subject to recycling requirements and other terms, so there is nothing new or exciting to learn with Bitcoin bonuses.
Many online casinos require a deposit of at least a certain amount to redeem the bonus. For Bitcoins, this amount can often be higher in euro than what the mini deposit would be in order to receive the bonus, so you may have to put more “money” into the game to get the bonus.
To avoid disappointment, we recommend that you read the Bitcoin casino bonus terms and conditions very carefully before you deposit, so that the good ones don’t get lost because of small mistakes.
Proven fair games.
Online casinos are known to be reliable gaming sites, and as is well known, casinos themselves cannot influence the outcome of games. Games are always maintained by game manufacturers, and casinos only serve as a “platform” for game studio output.
Naturally, however, the reliability of the games rests in the minds of many players – especially if rounds do not seem to have winnings at all.
When looking for information on Bitcoin casinos, you will definitely come across the “provably fair games” slogan when it comes to fair games. This is a new technology that is extremely good for the player and can prove that the game rounds have been truly fair.
If a player so desires, the result of the next round may be encrypted before each round. Once the round has been completed, the consistency between the game round and the pre-determined score can be checked.
If the results match, the player can be assured of a guaranteed reliable game and casino. If, for some reason, the results differ, you should contact customer service as soon as possible, because something is clearly wrong.
This technology may even make Bitcoin casino games even more reliable than traditional casinos. Usually when casinos cannot prove the randomness of the game round in any way, although it is known that online casinos operate on an extremely reliable basis for games.
As for Bitcoin casino games, the offerings are very similar to those offered at traditional currency online casinos. You can try your luck at both slots and table games, and there is a huge variety of games available from the most popular game makers.
In addition, there are a few game studios that focus specifically on games played in cryptocurrency. A good example of this is Bgaming, whose stylish gaming implementations are found in almost every bitcoin-accepting casino.
One of the biggest reasons why there are still relatively few online casinos that play in cryptocurrency is found in game licenses.
Each online casino must operate under a legal gaming license, in which case the licensor controls the operation of the casino while also determining many aspects of the casino’s practice.
The most familiar game license for Finns is issued by the Maltese gaming authority, and the vast majority of Finns’ number one gaming sites operate under the control of this operator. Other popular licenses include licenses issued by Estonia and Curacao.
However, bitcoins have not yet been approved by the Maltese and Estonian gaming authorities as an official payment method for casinos operating under their control, which explains the low number of Bitcoin casinos.
The Curacao gaming authority, for its part, is known for its rapid response to new winds and accepts cryptocurrencies as a fair payment method in its casinos.
Malta and Estonia are known to be slightly slower than Curacao, but bitcoins will be allowed to be licensed 100% in the future. This just takes its time.
However, the Curacao license is quite functional, so there is no reason to avoid casinos operating under it. This small island state has been issuing gaming licenses for as long as the entire gambling industry has existed, so it has probably redeemed its merits as a trusted player over the last twenty years.
Top Bitcoin Casinos.
Although the selection is not yet the same as for traditional online casinos, there are still many great bitcoin-accepting casinos! On our site you will find all the hottest venues and we will update the list as new exciting casinos move into the exciting world of cryptocurrencies.
Listed above are some examples of the most popular cases today.
Getting a cryptocurrency may sound tricky or even scary, but in reality, it’s really easy.
There are countless different marketplaces today, and before you choose the right place, it’s a good idea to do some background work. Not all marketplaces may suit first-time movers, so it’s worthwhile to take advantage of different comparisons and reviews.
For a comprehensive listing of the various marketplaces with their pros and cons, see, for example, www.bitcoinkeskus.com , a fully independent and impartial actor. This site offers a lot of other useful information about trading and dealing with cryptocurrencies in addition to trading sites.
Once you have an account with one of the recommended trading venues, buying bitcoins is very easy, fast and inexpensive. Usually the brokerage costs are in the order of a couple of percent, but in new trading places you can sometimes switch currency even at no cost.
Payments at retail stores are easy, as the most common payment methods are direct online banking or credit cards.
Once you have purchased the bitcoins, the Bitcoin address you receive should be extremely well taken care of. After all, if you lose your address, the funds in your Bitcoin wallet are gone. There is no way to recover a Bitcoin address, as all transactions are completely anonymous.
As a result, data cannot be restored or retrieved, for example, by proof of identity. So take good care of your Bitcoin wallet!
Value of Bitcoin.
Bitcoin is by far the most valuable cryptocurrency in the world, accounting for more than 40% of the total value of all cryptocurrencies in the world.
The value of a currency is determined in the same way as any other investment or product, that is, the demand and supply for it. In its simplicity, the value of bitcoin is determined by the price at which it was last traded.
Bitcoin has fluctuated sharply since the beginning, which is very characteristic of cryptocurrencies. In the early years, the currency plummeted to around $ 0.05, while in 2017, its value peaked at over $ 19,000. At the time of writing, the value of the currency is slightly over ten thousand euros.
As this is not a currency defined by general financial institutions, it is good to remember that there are always risks involved in buying bitcoins. Currency values may decline rapidly, but they may also increase exponentially, which of course allows you to wrap potentially nice profits when trading a currency.
What are Bitcoins?
Bitcoin is an open source digital currency called BTC. One Bitcoin is subdivided into one hundred million smaller parts, called satans. Bitcoins can be bought, sold and used by anyone without the need for permission from any third party.
Bitcoin is not controlled by any central bank or other actor, but its value is based solely on supply and demand. This also prevents Bitcoin from suffering from inflation, like ordinary currencies.
Since it is not a traditional currency managed by banks, bitcoins are usually referred to as a medium for exchange or as a parallel currency, as it is not considered traditional “money”. However, this does not mean that bitcoins are anything but vague; in their simplicity, they are just a different currency than what our banking system has taught us. In this article we will talk about bitcoins several times also as currency to keep the text simple.
Bitcoins can be traded between companies and individuals, and currency transfer is extremely easy on your phone, tablet and traditional computer. Currency transfer is also very secure and inexpensive thanks to Bitcoin, which are major reasons for the currency’s enormous popularity.
Today, this cryptocurrency is used as a means of payment in numerous Internet services, and more and more online casinos have included it as part of their range of payment instruments.
History of Bitcoin.
Bitcoin was created by the mysterious Satoshi Nakamoto, whose true identity has not been revealed to this day, and may never be found. Instead of one person, it may also be a larger entity or group that appears behind a single nickname.
Bitcoin took its first step in 2008 when Satoshi Nakamoto contacted coders around the world to create a digital payment instrument independent of the world’s central banks and other financial institutions.
Although Bitcoin is handwritten by Satoshi Nakamoto, it is not the world’s first cryptocurrency. Digital currencies have been developed throughout history, and Nakamoto’s realization only succeeded and became the world’s largest cryptocurrency.
The first Bitcoin transfer from one user to another was made only one year later in 2009, and the same year, the first Bitcoin exchange in the official currency took place, with five thousand bitcoins changing hands for $ 5.
The first few years of Bitcoin were relatively quiet life, and in 2010, Bitcoin gained negative publicity as it became headlines in the drug trade. This, of course, gave the new currency a little bad start, as people did not yet know how versatile the invention really was.
However, over the next few years, the popularity of the currency began to grow as trading venues became more common, and in 2013, bitcoins were traded for € 50 million every month. In the same year, many online stores and other Internet services also accepted its popularity as a payment option for their sites.
Taxation on Bitcoin.
Of course, the taxation associated with the Bitcoin trade is still in its place, as it is well known that government response always takes its time in new things like this. However, there have recently been major changes in cryptocurrency taxation and the guidelines were last updated in spring 2019.
If you are keen on trading in cryptocurrencies, you will naturally also have to pay taxes on these profits. If, on the other hand, you are making losses in the course of trade, the current tax ruling allows you to deduct tax losses.
Marketplaces never handle tax matters on behalf of a customer, so it is always your responsibility to manage your own taxes.
Naturally, however, tax matters and their settlement will only become necessary when the trade is significant and profits or losses on sales start to speak of larger sums. Transfers of a few dozen to the cryptocurrency or back to traditional currency are hardly of interest to the taxpayer, even if a few euros gain on foreign exchange trading.
As for casinos, it is worth noting that Bitcoin casinos are currently operating mainly under the Curacao license , which should also pay their share to the Finnish tax authorities.
Since gambling and withdrawing funds to your Bitcoin wallet are completely anonymous, it is of course not possible for the taxpayer to see the profits you have made. However, when converting a cryptocurrency back into euros, any gain on foreign exchange trading must be set off against the taxpayer in accordance with capital income tax.
Can I Trust Bitcoins?
As mentioned earlier, there are always some risks associated with playing bitcoins due to value increases and decreases. The price is determined by supply and demand, and therefore the value may fluctuate very rapidly.
If you buy the cryptocurrency at its peak, it is quite possible that your currency will lose some of its value due to sudden depreciation, and you will naturally suffer a loss. On the other hand, there is also the chance that the next day you are trading, the value of bitcoin will bounce in the clouds and roll up some pretty good profits.
Therefore, the risks are exactly the same as with any investment – you may lose, stay zero or roll your pockets full of banknotes. Cryptocurrency is worth seeing as a great way to get extravaganza, as long as you are in the right place at the right time.
However, there are no other risks in bitcoins, and there is no ambiguity in dealing with them, which is sometimes not understood. It is a workable and stable system that has certainly come to stay. Since the early years, many financial experts around the world have also turned their negative talks on cryptocurrencies into a big part of the future economic world.
Before your first Bitcoin stores, we recommend that you find out as much as possible in advance and follow the course movement for a while. Bitcoinkeskus.com is a great place for this, you will find a lot of up-to-date currency information on this site.
When it comes to the future, at least one thing can be said for sure – cryptocurrencies have come to stay.
Bitcoin has been in business for over a decade and is gaining popularity among people. Even if there was no greater understanding of this medium of exchange, almost everyone has at least heard of it.
Because the future is unpredictable, nobody can say with 100% certainty what the future of bitcoin looks like. The course throws quite a bit, but its popularity continues to grow steadily.
Despite changes in exchange rates, Bitcoin is gaining popularity and is becoming a payment option in more and more marketplaces. Some cryptocurrency wallets already offer traditional Visa or MasterCard cards that allow you to use the cryptocurrency even at the cashier’s desk.
In addition, nowadays, even in a country as slow as Finland, more and more shops and restaurants have included paying with bitcoins as part of their payment range.
Since cryptocurrencies are 100% here to stay, it’s a good idea to get to know them. Currencies separate from national financial institutions are clearly a big part of the future, and for their own sake, at least try to stay on top of what they are trying to do.
As for any profits or losses in the Bitcoin trade, you should not be afraid of these. If you put a five-digit sum into the game and the course collapses, then of course you will be quite brisk. However, if one talks about the common man’s curiosity to trade a few tens or hundreds, the potential gains or losses are, at worst, quite moderate!
Bitcoins cause confusion and even fear for many players, which is perfectly understandable. Especially if you are not interested, getting to the point may seem like a tricky task.
Although it seems difficult to understand cryptocurrencies and the opportunities they provide, it is ultimately possible to keep things quite simple. You don’t need to get to know Bitcoin to get to the root – as long as you have a comprehensive overview and basic knowledge.
Information about bitcoins can be obtained from independent sites such as the Bitcoin Center, which basically guide you from getting your bitcoins back to exchanging them for euros. The most important thing to remember about cryptocurrencies is to take good care of your currency wallet and Bitcoin addresses, since once you have lost your currency, it is impossible to recover it.
As for bitcoins online casinos, we strongly recommend that you use them. There are numerous really easy-to-use websites on the market that allow you to play cryptocurrency, and deposits and withdrawals are as easy as playing with traditional money.
Bitcoin and other cryptocurrencies are playing an increasingly important role, especially in online payments, and in the future they will offer a fully competitive alternative to traditional currencies.
For this reason, it is worthwhile to familiarize yourself with cryptocurrencies even when they are still relatively fresh, in order to stay on track. You can also send us a message at any time if you are looking for some help with playing bitcoins!