The popularity of mobile devices has increased substantially in the past few years. Today, the usage of mobile phones is not only limited to communication, but they are also used in the online casino gaming industry.
With mobile casinos, players can enjoy their favourite casino games anywhere, anytime. Also, mobile gambling is a lot more convenient as gamblers can use various payment options like pay by phone casino, e-wallets, credit cards, debit cards and bank transfer to add money into their casino account.
In recent times, mobile casinos have started transacting more using bitcoin. The virtual currency is decentralized, and transactions with Bitcoin are usually anonymous and transparent. Hence, mobile gambling with Bitcoin is becoming popular with each passing day.
Read on to get some tips for mobile gambling using Bitcoin.
Understand Bitcoin and how it works
Before starting gambling using bitcoin, you first need to understand what bitcoin is, how it began, and how it works.
Unlike other traditional currencies, Bitcoin is a decentralized digital currency that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.
As Bitcoin is a digital currency, it’s not tangible or even visible. It operates and relies completely on algorithms and cryptography, and it works using a technology called the blockchain. Bitcoin uses the blockchain network to keep the transactions and information secure. All the information about a transaction is stored in a block, which is usually impenetrable when it’s added to the chain.
Bitcoin mobile gambling
If you’ve played online casino games with real money, then you’ll find that bitcoin gambling is quite similar. The major difference lies in the nature of bitcoin itself as cryptocurrency. There are different types of transactions at mobile casinos accepting bitcoin. The first is the one that deals strictly with bitcoin, where all forms of transactions will be done only using bitcoin. For the second type, the casino has bitcoin as one of its accepted methods of payment. In this case, you can add funds to your account using bitcoin but are allowed to withdraw using any other traditional currency. Each type has its own set of advantages and disadvantages, and some players will find they prefer one over another cause of their personal choice and preferences.
Mobile gambling with bitcoin enables the existence of provably fair games. This means that you can verify the outcome of the games to be sure that the gameplay is fair and you’re not cheated. This solves the problem of not being able to ascertain the credibility of game results, which is one of the major issues in the world of traditional gambling.
Keep in mind that bitcoin is volatile, and its value goes up and down quite often. Before buying bitcoin to gamble, you must check its value so that you have an idea of how much you’re betting and how much you’re winning. This isn’t the step that most players are used to incorporating into their traditional online gambling routine, but it’s crucial for people using bitcoin.