Confused by Cryptocurrency? Here’s All You Need to Know

Although Bitcoin is currently making media headlines, you could be forgiven for not knowing what all the hype is about. Cryptocurrency is still a relatively new concept, which means that not all of us are completely up-to-date with what it is and, more importantly, how to use it. In brief, cryptocurrency is a form of money that, unlike traditional currencies, is not held by a centralised bank. Instead, it is found online either through mining for it or by breaking specific codes in order to gain quantities of it. There are different codes for the various cryptocurrencies that are available. The main draw here is that, as with stocks and shares, the value of the cryptocurrency can increase depending on demand. It also offers a fast and secure payment option, provided the receiving company accepts it.

As cryptocurrency is growing in popularity, more and more companies are choosing to accept this form of payment. In recent years, a number of online casino sites have chosen to utilise this kind of payment, allowing a host of players to enjoy playing via this method. In addition to the added safety, paying with a cryptocurrency can also offer a fairer way of gambling, as it can prove whether the spin or game outcome was indeed fair. For more information on this, click here.

For those looking make payments in this manner, it is a simple process to buy cryptocurrency from a dealer. When playing at the casino, you simply need to select the payment method you wish to use in the wallet section of your casino account, and then pay in. For cashing out in the cryptocurrency, you only need to provide your public key, and the currency will be transferred into your cryptocurrency account. It’s that simple.