Bitcoin is a digital currency that was invented in 2008 by Satoshi Nakamoto. It’s run on a peer-to-peer network, and all users of the network, who contribute their computer’s processing power to solving mathematical problems, get Bitcoin as an incentive. Since Bitcoin has no central authority controlling its value or issuing new coins, the worth of Bitcoins is determined by supply and demand from people interested in owning them.
While Bitcoins can be spent or traded for goods or services (or vice versa), Bitcoin slots are specifically designed for people who want to gamble with this currency. Anyone who owns Bitcoins can use them at Bitcoin slot sites.
You may be wondering why you would ever want to use Bitcoins for gambling, but several advantages make this currency particularly attractive for online casino real money:
Privacy and Security. Since any government or central authority does not issue Bitcoin, it’s not regulated. This means that when you play with Bitcoins, you don’t need to provide personal information to the site itself or any other entity. In addition, because all transactions are carried out anonymously on the peer-to-peer network, your activity can’t be monitored, and no one will know how much money you currently have in your account. This ensures that your Bitcoins are entirely safe from unauthorized access and that you can’t lose them due to any mistake.
Low Fees. Because Bitcoin transactions occur outside the established banking system and operate on a peer-to-peer network, there aren’t any government agencies tasked with controlling how much money sites can charge for their services. This means you don’t need to worry about paying high transaction fees every time you make a deposit or withdrawal at a Bitcoin gambling site. Many sites are giving away free Bitcoins to new players and providing other lucrative promotions.
Low Transaction Times. Since Bitcoins are stored on the peer-to-peer network, and the network processes all transactions (except for withdrawals), there isn’t any need to go through a third party or service to send or receive money. This means you can play at Bitcoin slot sites with your Bitcoins almost immediately after you deposit at the site.
Secure and Anonymous Games. There’s no better choice than Bitcoin slots for those who like to play casino games anonymously and other gambling titles. All the games at Bitcoin casinos are designed with anonymity to provide players with a secure gaming experience.