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BTC is one of the many virtual currencies in the market that protect your anonymity. You have to buy the BTC from a dealer as a number of online dealers are always selling BTCs. The price of the currency is almost updated every second, so there isn’t any fixed price. The first condition is that you have to be registered on an online website using your credentials for purchasing this currency. After you have paid the price for the number of bitcoins you want you would receive them in your wallet. This wallet can further be used to make online transactions.
Satoshi Nakamoto created this currency by using a number of cryptocurrency concepts. The domain of bitcoin.org was created on 18th of August 2008, and later a research paper regarding an electronic cash system was posted online by Nakamoto. On 3rd January 2009, he created this cash system. The first BTC transaction was done on 12th January 2009 when a programmer Hal Finney received 10 bitcoins from Nakamoto as a gift because he was the first one to download his software. The beauty of this currency is that there is no centralized system and nobody has the control over it. It is a peer-to-peer system, and all the people involved in the system make an impact. For example, the initial value of a bitcoin was decided when two BTC owners ordered a pizza for 10,000 bitcoins.
A bitcoin wallet can be dealt as a storage for the bitcoins. You can save your bitcoins in this wallet. Although it is just a conceptual one because in actuality there is just a private key being stored for every bitcoin address you own. The wallet belongs to you as well as the currency stored in it.
There are a number of methods to stay anonymous while using this currency. Although none of your personal information is shared like your name, phone number, email address, etc. even during a transaction, but your public IP address is recorded which can lead back to you. You can use software which provides bitcoin mixing service to create fake IP addresses, different kinds of browsers to change your location online, or by using VPNs.
- 3 FAQs
Best Bitcoin Slots 2020
Although there is a number of online BTC slots, but we need to get you the best of them. Here are the best of 2020 that you can play and enjoy. Some of these give you few bucks, games or free spins as a deposit bonus but you will also find some bitcoin slots no deposit bonus. Depends on your choice but here is a list of top 5 BTC slots from www.bitcoincasinosonly.com for you:
- Platinum Lightening
- The Ninja
- Book of Pyramids
- Greedy Goblins
Playing a bitcoin slot machine can be great fun as there are numerous free bitcoin slots, bitcoin video slots, and multiple other options. Most of the products of bitcoin slot machines are classic slots with 5 reels and a multiple numbers of paylines. Now you have a proper list of top bitcoin slot games on the basis of our experts’ bitcoin slots review, so you don’t have to do a lot of research online to know the best ones to play. Our bitcoin video poker you can also find at our website BitcoinCasinosOnly.com.
Best Bitcoin Slots Sites 2020
We have shortlisted few of the best and trustworthy BTC slots sites for you, so you have an updated list for fulfilling your love for gambling online and getting the fruit of your efforts. Although there are thousands of slots online these are the top 5 according to our bitcoin slots review:
- 7 Bit Casino
- Dasist Casino
There are multiple advantages of choosing top bitcoin slots casinos as you get to enjoy amazing bonuses and a number of offers. Let’s try to cover each one of the advantages if you play casino with bitcoin:
- This digital currency is based on a technology that helps you to remain anonymous, and these casinos also ensure your anonymity.
- The payments are a lot safer.
- The fee you have to pay in order to play is relatively less.
In the same way, these kinds of gambling platforms bring some advantages they also have few disadvantages, and you have to decide accordingly. Here are some of the disadvantages:
- The value of this currency keeps changing every time, so you never know when the value drops and you have to lose moneyeven if you aren’t losing the game.
- You need to have some basic knowledge regarding the blockchain technology and the factors behind the value of bitcoins in order to be more successful in such slots.
Q1: Is gambling with BTC really legal?
Answer: There are different countries with different regulations according to government priorities regarding it, but it is legal in few states of USA, United Kingdom, France, Germany, Canada, Finland, Japan, Spain, Australia, and Norway.
Q2: Is gambling with Bitcoins anonymous?
Answer: There are multiple gambling sites that do not require any kind of player’s information, but some of them do require a negligible amount of your information.
Q3: Is there a minimum deposit on bitcoin casinos?
Answer: No, there is no minimum deposit on these kinds of casinos.
Q4: Are there territorial restrictions for bitcoin casinos?
Answer: The law, jurisdiction authorities, and gambling commission are different in various countries, so you need to read them from the official casino’s site in this regard. Most states in the USA have different rules and regulation about it.
Q5: Why just normal casinos are not enough? Why we need bitcoin casinos or casinos that are provably fair?
Answer: There is a need of provably fair casinos because they give every player a fair winning chance which is not the case in conventional casinos and they do not require your personal information most of the times.
Q6: I am not a technical person, and don’t understand the ins and out of BTC market, can I still use bitcoin casino site?
Answer: Yes, it is possible for a non-technical person to use a bitcoin casino site. Such a person can easily gamble, and the only risk is that if BTC stops its growth, he/she wouldn’t be able to understand it.
Q7: So do all bitcoin casinos accept only BTC as a deposit method?
Answer: No, there are various deposit options available at most of these casinos.
Q8: What are other cryptocurrencies that we can use for online casino deposits?
Answer: You can also use Ethereum, Litecoin, Ripple, Monero, Dogecoin, Edgeless, HEROcoin, and ERC20.
Q9: Is it a safe banking option to use?
Answer: There is no link to any bank regarding this digital currency, but you can convert it into dollars, pounds, or euros from various exchange sites.
Q10: How fast are BTC transactions with casinos online?
Answer: The transactions are pretty fast as they take few hours.
Q11: How do Bitcoins compare to other banking options?
Best free online gambling sites. Answer: BTC is not regulated by a centralized banking system, but it is based on a decentralized system in which everyone who owns a Bitcoin or a fraction of it has a role to play. It is a peer-to-peer system and the value also changes accordingly instead of being decided by a centralized authority.
Bitcoin Video Casino
Q12: Will there be any fees with Bitcoin transactions?
Answer: Yes, there is a particular transaction fee that can be calculated online on the number of Bitcoins involved.
Q13: What are the perks of playing with bitcoins?
Answer: The perks include security, user anonymity, no taxation, no 3rd party interruption, and low transaction fee.
Q14: How to deposit into your casino account?
Answer: It is pretty easy as you can directly deposit from your BTC wallet into your casino account.
Q15: How to cash out your winnings?
Answer: You can easily cash out digitally your winnings to your wallet and then convert it into your preferred currency through various websites to get your money.
Free Bitcoin Slots
Overall, it is a pretty secure option as your anonymity is guaranteed. You can also enjoy low transaction rates, and the whole transaction process is pretty fast. There is a minimum risk involved, and when your identity is not at stake, there are a number of different perks you can enjoy. Instead of going for the normal online slot it is a better option to choose a BTC slots website if you know about the rules, cash out options, and gambling strategies. And if you would like to play blackjack for bitcoin just check this link and have fun!