Krypto currencies as a payment method in online casinos

Everywhere you hear from Bitcoin and that you can now pay with Bitcoin in this or that online casino. But why should these virtual currencies in Online casinos to use? How does this work, and is it safe? As always, there are advantages and disadvantages, and therefore we explain briefly the basics on crypto currencies in online casinos!

Unique: Cypto currencies

Most people have a vague idea that Bitcoin is the most famous of the many crypto feeds - there is now over 3000 crypt feeds worldwide. A crypto feed is digital money, a unit is called a coin (English = Coin). This coin has no physical appearance, consists only of one complicated record with the essential property that you can not simply copy it. Consequently is and remains unique every coin and can have such a relatively stable value and used as digital means of payment.

Genial: the blockchain technology

But how are these digital coins managed - there is a krypto bank? no! And that's exactly the point that many people see as a crucial benefit of crypto currencies over normal money. While the euro is controlled by the European Central Bank, crypto currencies are managed decentrally through so-called blockchain technology. "Decentrally" is the crucial word here, because there is no central body that has more control, more knowledge, more power than all others. So you do not have to confide blind and a bank or similar institute while acting with crypto currencies.

Safe, fast, cheap: a lot-eye principle instead of Mittelmann

This enables increased security: because in a blockchain, all important data transactions, timestamps and so on - in hundreds of thousands of copies on the computers of the Participants stored, which are constantly monitoring each other via "multi-eye principle" and keep up-to-date. You can imagine a blockchain like a network, with an identical record copy on each link point. A database, a bank, an action body may still be manipulated - but not all at the same time!

Due to the non-existence of beneficial Mittelmen transactions with crypto money also run within seconds and only with negligently low fees.

Anonymous: No data collection

This security is considered the greatest advantage of crypto currencies. Finally, the blockchain technology is almost impossible to manipulate or chopper and you do not have to put your money in the hands of institutions with self-interest. But also for the greatest anonymity and therefore protection of personal data are famous crypto currencies - because if there are no middle men who have personal data from their own interest personal data such as name, account balance, purchase behavior, etc. collect, then If these data is not just charged.

For direct transfer of coins between two wallets (ie the Krypto accounts on the blockchain) You only need the address of the destination wallet In the form of a newly generated, unique code. This does not contain any other information; So you can publicly place your wallet code publicly and the only thing that can happen is that someone sends money - without knowing, to whom! The disadvantage of this high anonymity is also that you Recommended transfers can no longer undo - Here is just: self-responsibility.

Revolutionary: crypto currencies as a monetary system of the future

Online casinos are always looking for safer and faster payment methods and with all the beneficial, innovative principles that are behind the action with crypto feeds, the deposit and pay with crypto currencies for online casinos is especially important. Of course, the same advantages apply to players. The only downside is the often strong fluctuations of the exchange rate of crypto currencies. That makes investing and Act with the digital money itself to a kind of gambling - as on a normal stock market, too.

For a long time, the crypto feed market was still in its infancy, but that changes rapidly: speculation that the Highly revolutionize global monetary system thanks to the blockchain technology will not seem so absent. This would come to one Power shift from banks and payment service providers directly to the actual owners of the money transfer - and would that be so bad?