How do Bitcoin casinos work?

November 8, 2019

Are Bitcoin Casinos A Real Thing?

Like spinning the wheel? Well, Bitcoin casinos are a real thing, and here is everything you need to know about them. While some Bitcoin enthusiasts prefer the calculated gamble of investment and day trading, others have taken to high-roller casino websites to roll the proverbial dice.

What are Bitcoin Casinos?

Confused about what Bitcoin casinos are? Well, just Google online casinos and you will know what you have been looking for. Bitcoin Casinos are online casinos that allow the player to make use of crypto-currency in preference or alongside the flat currency.

In the last few years, many online casinos have surfaced and they offer a wide array of games and services to gamblers looking to transact in Bitcoin instead of the regular currency such as the US Dollar.

Bitcoin casinos are not just associated with playing roulette or poker but you can also enjoy lotteries, sports-based betting or spread betting.

Instead of using the term Bitcoin or “BTC”, many Bitcoin casinos have preferred using the term “mBTC” or “millibitcoin”, a term that is used to denote one-thousandth of a Bitcoin.

How do Bitcoin casinos work?

Crypto-currency is extremely safe for the process of transaction and it works in the same way traditional counterparts work.

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If you are a new user who wants to register for online gambling, Bitcoins casinos will provide you with fresh in-house wallets at the time of registration. You can also check out SilentBet.com to search for the best bookmarkers in case you want to bet on safer platforms.

It allows you to survey through the list of the best bookmarkers available and choose the most reliable one.

Once you sign up at the online casino, your bets will be made on the base of the funds you have stored in your wallet. You will either lose or win on the sum of the amount present in your account during the game.

Some Bitcoin casinos have taken the game to the next level and they offer huge jackpots for their players. You get the chance of winning 5000 BTC on a single spin entirely based on your luck.

Once the game has concluded, any profits that the user has made during the game are returned to the user’s account and the loss has been deducted. From there, the user can draw out funds to his private account when needed.

However, most of the casinos have a withdrawal limit so that users don’t make big withdrawals all at once. You should always read the terms and conditions of Bitcoin casinos before signing up on any platform.

Why Bitcoin casinos have become so popular?

Since Bitcoin’s emergence, the world’s foremost cryptocurrency has found favor amongst internet casinos thanks to its pseudonymity and ease of transfer. Most of the online casinos have adopted the Bitcoin method to refrain from having to deal with regulatory purviews.

Bitcoin casinos also offer their players zero transaction fees even if they want to draw funds several times daily which is one of the reasons why it has become popular. These casinos have also been offering amazing Bitcoin jackpots so you can understand why people would like to bet on them.

So, this is why Bitcoin casinos have become a real thing and if you are a fan of gambling, this is something you should check out.

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Mastercard Launches Euro Denominated Non-Custodial Bitcoin Debit Card

Bridging Traditional Payments and Crypto Mastercard, a global payments leader serving almost 3 billion customers across 210 countries, has taken a major step toward integrating cryptocurrency into mainstream finance. In a groundbreaking partnership with Bitcoin and crypto payments provider Mercuryo, Mastercard has introduced a new euro-denominated debit card that allows users to spend Bitcoin and other cryptocurrencies directly from their non-custodial wallets. This marks a significant advancement in the adoption of digital currencies within traditional payment infrastructures. The card enables European Bitcoin holders to seamlessly spend their crypto at any of Mastercard’s over 100 million merchants worldwide, all without needing to deposit funds with a third-party intermediary. This innovation offers a new level of convenience and control for crypto users, particularly those who prefer self-hosted wallets over custodial solutions. Mastercard’s Expanding Crypto Efforts As one of the largest financial service providers in the world, Mastercard’s integration of Bitcoin into its payment system is a clear sign of the company’s evolving stance on cryptocurrency. Mastercard has been actively working to bridge the gap between traditional finance and digital assets, making it easier for users to spend their Bitcoin and crypto holdings directly. Christian Rau, Senior Vice President of Mastercard’s crypto unit, noted, “We are providing consumers who want to spend their digital assets with an easy, reliable, and secure way to do so, anywhere Mastercard is accepted.” This partnership with Mercuryo builds on Mastercard’s ongoing efforts to integrate Bitcoin and other digital currencies into its vast payment network, which already spans millions of merchants globally. By focusing on non-custodial wallets, the company is catering to an increasingly tech-savvy audience who prioritize control over their assets. How the Card Works: A Focus on Non-Custodial Wallets The central innovation of the Mastercard and Mercuryo card lies in their support for non-custodial wallets. These wallets, which allow users to hold their private keys, offer an alternative to custodial wallets provided by exchanges or other financial intermediaries. Users retain full control over their Bitcoin and crypto assets, eliminating the need to trust a third party with their funds. Key features of the card include: The ability to spend Bitcoin and other crypto directly from non-custodial wallets. Integration with over 100 million Mastercard merchants globally. No need to sell Bitcoin or crypto on an exchange before spending. By eliminating the intermediary, Mastercard’s new card simplifies the process of using Bitcoin for everyday transactions. Users can connect their self-hosted wallet to the card, enabling them to spend their digital assets as easily as they would with fiat currency. Fees and Costs Associated with the Card While the Mastercard and Mercuryo card offers great convenience, users need to understand the associated fees. The card carries several costs that users should be aware of: A €1.6 issuance fee. A €1 monthly maintenance fee. A 0.95% transaction fee on purchases. These fees, while not exorbitant, are an essential consideration for those looking to use the card for frequent transactions. Nevertheless, for users looking to maintain control of their Bitcoin and crypto holdings while enjoying the ease of spending at traditional merchants, the benefits may outweigh the costs. The Growing Demand for Self-Hosted Wallet Solutions One of the most significant aspects of this Mastercard initiative is its support for self-hosted wallets. The demand for these types of wallets has been growing rapidly, as many crypto users are increasingly skeptical of centralized exchanges. Recent security breaches and regulatory crackdowns on exchanges have prompted users to seek more control over their assets. Non-custodial wallets offer that control, allowing users to hold their private keys and manage their funds without relying on a third party. The ability to spend directly from these wallets gives users more flexibility and autonomy, as they are no longer forced to transfer funds to a custodial service or exchange before making purchases. This solves a major pain point for Bitcoin holders, who often need to sell their crypto for fiat on exchanges before spending it in the real world. The Impact on the Bitcoin and Crypto Ecosystem The Mastercard and Mercuryo partnership represents a significant development in the crypto ecosystem. As one of the largest payment networks in the world, Mastercard’s adoption of Bitcoin and crypto spending capabilities will likely drive further mainstream acceptance of digital currencies. By enabling users to spend Bitcoin from their non-custodial wallets without needing to go through an exchange, Mastercard is making the process more seamless and user-friendly. This initiative also aligns with the growing trend of financial giants embracing cryptocurrency. Mastercard’s integration follows similar moves by other major players in the payments space, such as Visa, which has also been expanding its support for crypto-related products and services. Conclusion: A New Era for Bitcoin Payments The partnership between Mastercard and Mercuryo to launch a euro-denominated debit card for Bitcoin and crypto holders is a pivotal moment for the adoption of digital currencies in traditional financial systems. With support for non-custodial wallets, the card empowers users to maintain full control over their funds while enjoying the convenience of spending at millions of merchants worldwide. Although the card comes with fees, its benefits—particularly for those who prioritize ownership and security of their digital assets—make it a valuable tool in the evolving landscape of crypto payments. Mastercard’s efforts to integrate Bitcoin into its global payments infrastructure reflect the growing acceptance of digital currencies as a viable medium of exchange. As more users adopt self-hosted wallets and seek greater autonomy over their assets, the demand for solutions like the Mastercard and Mercuryo debit card will likely continue to grow. This partnership not only addresses a key pain point for crypto holders but also sets the stage for further innovations in the intersection of traditional finance and the world of Bitcoin and cryptocurrency. Source: bitcoinmagazine.com
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Is This The End For Ethereum Or A Generational Opportunity?

Ethereum holders are indeed facing challenging times, particularly with the underwhelming performance of recently launched Ethereum spot exchange-traded funds (ETFs). These ETFs were initially anticipated to drive significant price action and generate optimism for the cryptocurrency. However, the results have been disappointing so far, leaving investors frustrated and uncertain about Ethereum’s immediate prospects. Despite this, Matt Hougan, Chief Investment Officer at Bitwise, remains bullish on Ethereum’s long-term potential. He emphasizes that Ethereum continues to dominate the decentralized application (dApp) space, retaining the largest number of active developers and users. Hougan likened Ethereum to the “Microsoft of blockchains” in a recent memo. Hougan highlights the critical role of Ethereum in major blockchain applications. For example, he pointed to the adoption of Ethereum by BlackRock’s tokenized money market fund and Nike’s Web3 platform called Swoosh as signs of its ongoing success. Hougan argues that while Ethereum has lagged behind Bitcoin and Solana in year-to-date growth (38% and 31%, respectively), its underlying fundamentals remain strong. He believes Ethereum is positioned as a contrarian bet for the rest of 2024, potentially defying market sentiment with a bullish run. As of now, ETH has seen a slight uptick, trading around $2,440, and is approaching a key resistance level at $2,450. While the short-term outlook remains uncertain, Ethereum’s continued dominance in blockchain development and adoption by traditional companies could eventually reignite positive momentum for the asset. newsbtc.com
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Cryptocurrency Dogecoin (Doge): technology features, wallets, mining, purchase, forecasts

Dogecoin bases its technology on the Bitcoin blockchain and structures its platform based on the open-source Litecoin code, and improves the block generation ability (it only takes 60 seconds). On the other hand, as far as security is concerned, it supports the Proof-of-Work system to avoid hacker attacks. The two most important algorithms it uses are Scrypt and SHA-256, with the latter consisting of a set of hash functions. It should be noted that the use of these algorithms is not trivial, since it allows any ordinary computer to become a node and serve for Dogecoin mining. Mining: The open nature of the platform allows you to mine dogecoins by verifying transactions made using this system. Thus, miners receive Dogecoin as a reward for doing this work, an opportunity that is available to everyone through the use of the aforementioned algorithms. Where can I pay with Dogecoin? Dogecoin has gained immense popularity, which has led to the growth of its platform, and therefore the number of transactions is second only to Bitcoin. Thus, this cryptocurrency can be used in numerous online stores, some of which can be found at dogecoins.com. How to buy or receive Dogecoin? Buy Dogecoin: although this coin is not among the most valuable cryptocurrencies on the market, it is undoubtedly one of the most popular, so you can buy Dogecoin on almost any of the largest cryptocurrency exchanges or exchange offices: Bitterex, Poloniex, Kraken, and others. In most cases, DOGE/BTC or DOGE/another cryptocurrency, etc. pairs are available, so it will be difficult to buy coins directly with USD (C-Cex, Yobit, SouthXchange) or EUR (Bittylicious, BitFlip). Mining Dogecoin: You can get Dogecoin in the process of mining since miners are rewarded in coins for each decrypted block. Inspired by the Litecoin code, the Dogecoin platform is very similar to its predecessor, however, blocks are mined in a record time of 60 seconds. It also doesn’t need a super team to mine, so it’s available to everyone. For more information on this subject, you can visit the official website dogecoin.com. Dogecoin in the future: is it worth it? Should you buy Dogecoin? It must be kept in mind that this cryptocurrency was born as a joke and is subject to inflation, and has not undergone any major improvements or changes since 2016. On the other hand, its fame and community must not be forgotten, so as long as its participants use Dogecoin as a medium for their transactions, it will continue to exist. In addition, this currency is easy to use and suitable for those users who have not yet tried the new payment method with cryptocurrencies.
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Bitcoin Mining Shutdown Cause 20% Surge in Electricity Bills

The closure of a Bitcoin mining facility in Hadsel, Norway, has resulted in a significant rise in electricity costs for residents, highlighting the economic relationship between Bitcoin mining and local energy markets. The mining operation, run by Kryptovault, accounted for 20% of the revenue for Noranett, the local power company. When the municipality declined to renew the permit due to complaints about the noise generated by the mine’s cooling fans, the loss of this large customer led to a 20% increase in electricity bills for residents, with some facing up to $300 more per month. This situation emphasizes the benefits of Bitcoin mining in terms of distributing grid expenses. The presence of the mining facility helped keep energy prices lower for households by contributing to the overall revenue of the power company. Without the mine’s energy consumption, fixed grid costs now fall more heavily on residents, who are left to cover the shortfall in revenue. The incident has also sparked a broader debate in Norway about the future of energy-intensive Bitcoin mining operations. Some argue for more restrictions on mining due to its high energy demands, noise, and environmental concerns. However, this case illustrates the economic consequences of losing such large customers, as Bitcoin miners can play a critical role in stabilizing local energy grids by absorbing excess capacity and helping to keep costs manageable for residents. If Norway imposes further restrictions on mining, it could drive these operations abroad, potentially increasing local electricity prices further as power companies would have fewer major customers to help offset costs. This underscores the complex trade-offs between the environmental, social, and economic impacts of Bitcoin mining. bitcoinmagazine.com
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How Bitcoin is Traded in 2020

Everyone has an opinion about the future value of Bitcoin, even some of the smartest people in the world. And they all seem to vary. While Warren Buffett thinks it’s all a delusion, Elon Musk calls it a brilliant investment. Bitcoin (the leader among cryptocurrencies) celebrated its 10th anniversary last year, January 3rd, 2019. Will it remain the best cryptocurrency for the next decade, though? Or will new advances in blockchain technology lead to alternative avenues? Let’s try to answer these questions by considering seven of the most popular arguments made in favor of Bitcoin’s future. More than a decade after Bitcoin’s birth, it remains standing despite skepticism. It’s one of the most promising technologies of the 21st century. There will likely be many more cryptocurrencies in the future, but Bitcoin will remain the most trusted. Even if Bitcoin is not used as a medium of exchange, it will act as a store of value (similar to diamonds and gold). More countries will eventually start to regulate Bitcoin (like Japan did), which will increase its value. Although timing is everything in Bitcoin trading, it holds the potential to enrich without prejudice. A $100 investment in Bitcoin at the beginning of 2016 would have grown to an estimated $200,000 during 2017. Trading Bitcoin is savvy. Bitcoin Trading for Beginners It is supply and demand that drive Bitcoin’s value. The more people acquire it, the higher its price will soar because of the demand increase. Similarly, the more people sell it, the lower its price will drop because the demand decreases. A vital factor to consider, though, is that Bitcoin can be compared to gold and diamonds due to its scarcity in supply. There are only around twenty-one million Bitcoins in total, and an estimated seventeen million of them are in supply. And because of its underlying framework, the quantity cannot change. It’s relatively easy for beginners to get started with Bitcoin trading. You can deposit money to an exchange and trade it, or you can sign up with a broker and make use of a variety of Bitcoin trading options. However, many find the actual trading intimidating and often kill the idea before even starting. How the Experts Trade Bitcoin Because Bitcoin is volatile by nature, professional Bitcoin traders make use of various resources and trading tools to help in their decision-making. These often include membership in online community forums, reviewing statistics and chart analysis applications, watching when and what other successful traders are doing, etc. One Bitcoin Trading Platform for All Wouldn’t it be ideal if there were a single platform where both novice and expert investors could trade? Even more so, where deposits are refundable, no commissions are charged, and there are no hidden fees? This way, one could progress from a beginner to a professional level without the need to change trading platforms – all the while saving on unnecessary costs. Well, Bitcoin LifeStyle is one such platform. It provides both automated and manual trading methods. They have an automatic mode that has been specifically designed for inexperienced traders. Users set up their trading parameters, and the software trades Bitcoin on their behalf. This automation ensures the best trades are completed within the set parameters. Their manual mode allows experienced traders to complete trades manually. The user enjoys complete control over each trade they make and can use that data to analyze and strategize – thereby improving their trade accuracy.
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How do Bitcoin casinos work?

Are Bitcoin Casinos A Real Thing?

What are Bitcoin Casinos?

How do Bitcoin casinos work?

Why Bitcoin casinos have become so popular?

Like it? Share it with your friends!

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