Gambling with Bitcoin

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Bitcoin Gambling Explained

Gambling with bitcoin seems like it's extremely complicated, but it's actually very simple to understand and to get in on the action.

Around 2015, bitcoin started making a lot of news as a cryptocurrency that has a lot of advantages over traditional currencies. It also had a lot of controversy, and though that's outside of the scope of gambling with bitcoin, it's an important part of its history. If you want to understand how gambling with this cyber currency works, you have to know a little about how the currency itself works and what the pros and cons of it are in the online gambling environment.


The Nature of Bitcoin Wallets and Transactions

If you've ever used an electronic wallet like PayPal, Skrill, Click2Pay or Neteller, then you already have an intuitive feel for most of the functionality of bitcoin. You fund your account through an exchange where you purchase bitcoin, which is sent to your wallet. A wallet in this case can be an online account, much like the four examples above, or it can be an actual file stored on your computer.

Transactions in bitcoin are always sent from wallet to wallet, much like you might send some funds from one PayPal account to another. The only difference is that there is no paper trail or record of who these transactions are coming from since your identity is not tied with your wallet, so you can get a high degree of privacy and security when using Bitcoin. 


How Bitcoin Gambling Works

Gambling using Bitcoin couldn’t be easier, at All Star Slots we have put together a handy guide, showing you how in three easy steps you can create a wallet, buy bitcoin and deposit your funds. For the full guide click on the following link