Bitcoin currency is a structure of money that can be used to play casino games and it differs from country to country. Based on the name of the country it is named accordingly. It is a mode of exchange for goods and services.
Below is some of the Currencies used world wide
- US Dollars
- Indian Rupee
- Canadian Dollar
- British Pound
- Swiss Franc
Bitcoin currency is a crypto currency started in the year 2009. Satoshi Nakamoto is the person invented Bitcoin. Crypto currency means it is a digital storage of currency which is used as medium for exchange of goods. The benefit of crypto currency is all the transaction history of the owner is recorded in computers database. With Bitcoin we need to know about its origin, technology used behind it and usage in a bitcoin casino.
No intermediate person is required for transactions with Bitcoin. It is stored electronically for which it is called peer to peer electronic cash system.as it is not present physically it is completely electronic based it is operated by passwords for which it is called as cryptocurrency.
- Initial Bitcoin Price is very minimal that is 0.3 dollar in 2011, from then it raised to the peeks till 19,783.06 dollars by the year 2017.
- This currency got licence in the year 2011 by international non-profit digital rights group called the Electronic Frontier Foundation.
- At the time of its beginning around 1000 merchants approved and accepted its service and made transactions.
- In the year 2013 the price of Bitcoin Price increased to 22$.
- Crypto currency got a complete approval from US commodity futures trading commision regarding the listing of over the counter in the year 2013-14.
- In 2015-16 the cryptocurrency exchange was hacked and lead to a big down fall of Bitcoin. At this time only around 700 ATMs started for access to people around the world.
- In the year 2017-18 many merchants and business man started accepting bitcoin as their exchange for services.as it is elaborated to its maximum in the year 2017 December Bitcoin value got a big breakthrough and recorded with 20,000$.
- By the end of 2018 it again got a slight decline to 3,000$.At its mid-19 it again raised to 13,000.
Benefits of playing online casino games with Bitcoins:
- There is no third party in between like government, banks and financial institutions.
- No need to pay sales tax.
- Transaction fees are lower compared to other payment options.
- Transactions are so quick compared to normal bank transfers.
- The transactions are completely based on underlying technology called as block chain’ – a secure, time-efficient and decentralized record-keeping ledger system.
- Many political events and technology developments which are occurring day by day also influence the bitcoin price values.
- The bitcoin is said to be one of the biggest innovations of all time.