Bitcoin Casino News Hot Off The Press
In 2014 the Canadian government changed the legislation concerning online payments to insist that virtual payments are monitored. The Bitcoin was not mentioned specifically but it was hinted at and this Bitcoin Canadian casino news at first seemed a bit daunting but more recently casinos have come to terms with the reporting and legislation required when using Bitcoin payments and it is in fact helping the casinos get wider use and coverage of this payment method. The online casino news in Canada never seems to focus on the Bitcoin but those who are aware of it prefer to use it over any other payment option and those who have heard about it are inspired to investigate further.
Bitcoin Online Casino News Explains the Benefits
It is very important before choosing to use Bitcoin to totally understand what it is and how it works. It is not so simple to buy into a Bitcoin but when a player does he will instantly reap the benefits and enjoy the ease of use, security and anonymity that the Bitcoin provides.
Bitcoins are a virtual currency that was created in 2009 – each unit is based on a unique algorithm that is created by a computer program. The number of bitcoins created is monitored and regulated - the bitcoins can be traded but they are not considered a flat currency. Each and every transaction at the casino or any other online service that accepts bitcoins is totally anonymous and secure. No personal information is divulged and there is no chance of any kind of financial fraud thanks to the complex algorithms of each individual “coin”.
The bitcoin can be used at any time and any place and literally from anywhere, wherever it is accepted. Whether playing on a home based computer, a laptop or a mobile device, the bitcoin can be transferred. Once it is transferred to the casino as a payment method, many of the online casinos convert it to a flat currency to be used at the casino on the many different games offered. Winnings can be converted from the flat currency back to the bitcoin for withdrawals.
Increased Coverage of the Bitcoin Online Casino News
Some of the online casinos even offer a bitcoin casino bonus for using bitcoins as a deposit options. Because deposits and withdrawals with the bitcoin are free of additional charges, players definitely receive more value for their money and at the same time the casino also has no charges and is able to offer higher payouts or in fact special bitcoin casino bonus offers. Check in the promotions section or banking section of the casino to find out about the different promotions that are offered for bitcoin use.
The bitcoin itself is a unique code of numbers and letters that range between 27-34 characters. Each coin is totally unique. There is no central bank that is governing the exchange rate of the bitcoin; it is all based on trading between peers who own bitcoins. The value of the bitcoin against flat currencies does fluctuate depending on demand just like stocks and shares or flat currencies hence the necessity for bitcoin owners to keep tabs on the value and also not deposit all bitcoins at once at the online casino in case the rate increases or decreases.
The Bitcoin online casino news tries to keep up with the changing values of the bitcoin but it is also important for the owner of bitcoins, and player at the casino, to keep tabs on the rates. The online casino news in Canada will feature more and more details about the Bitcoin as its popularity increases and with the legislation from 2014 insisting that all transactions are monitored and registered; players are feeling more and more confident when using bitcoins at the online casino.