Bitcoin – An Ideal Online Casino Deposit Method
You can make all of your casino deposits and collect all of your wins as well as your bitcoin casino no deposit bonus rewards in bitcoins when you play at the Canadian online casino. Many Canadian online casinos support bitcoins for all Canadian gambling amenities including the bitcoin casino no deposit bonus give-aways for players who are eligible for bonus promotional packages. With bitcoin, you'll enjoy one of the safest and simplest online deposit methods available.
For centuries, banking was a simple affair that allowed you to deposit and withdraw money through your local bank account. You placed your money in your local bank for safekeeping and, if you were lucky, earned interest on those funds. Banks gave out loans and collected on the loans. If you were lucky you knew your banker by name and if you were even luckier your banker knew you by name.
When the telegraph was invented monies could be wired around the world from one bank to the next. By the 1970s SWIFT, the Society for Worldwide Interbank Financial Telecommunication made it possible for banks to wire funds from one bank to the other via wire transfers.
The rise of ebanks in the 1990s further simplified virtual banking options through digital banks thatt any citizen could use. The echecking accounts, ewallet cards,d evouchers and other types of Internet banks transmitted funds at the user's request.
Today bitcoins are a growing factor in the world of virtual banking. Bitcoins (and other forms of cybercurrency such as Litecoin, Omnicoin, Glove, Dogecoin and NXT) are a digital currency whose value is determined by a consensus of bitcoin users. The users arrive at their determination of the bitcoin value based on market supply and demand. Bitcoins are not associated with any particular country's currency, nor are they controlled by any centralized banking system.
Many casino players favor bitcoins because using this type of payment method allows them to separate their personal Canadian banking activities from their gambling pursuits.This allows them to manage their funds more privately, and often more responsibly.
Conducting financial transactions with bitcoins is accomplished through cryptography which transfers information, provides security and prevents counterfeiting, using a range of techniques. These actions ensure that information about a user's payments and withdrawals will remain private and secure and offer the ultimate in personal financial confidentiality and safety. You never have to enter your name or other information when you use these online casino deposit methods, so your risk of fraud and identity theft is almost zero.
How to You Obtain Bitcoins?
To obtain bitcoins for playing at the bitcoin casino Canada you must first decide the method by which you'll obtain your bitcoins. You can:
- buy bitcoins at a bitcoin exchange
- accept bitcoins as payment for goods or services or through another owner
- discover (mine) new bitcoins through verification of bitcoin transactions
There are currently more than 12 million bitcoins are in circulation with another nine million bitcoins are waiting to be discovered.
Bitcoin transactions are collected into "block chains" which are secured digital boxes When you mine bitcoins you run software (free and easy to use) that is designed to help you find the key to open the padlock and release the bitcoins. Then the bitcoins can circulate.
Miners search for these black boxes. When they find a box they must verify the new box. Whenever a miner finds a new box he receives a reward of 25 newly generated bitcoins. It's estimated that a miner, somewhere in the world, discovers a box and claims his 25 bitcoins every 10 minutes.
Although the process of mining is easy, the processing power that it takes to mine bitcoins is increasing exponentially. Their value hinges on the fact that there are a finite number of coins in the world, and as more people mine them they become more rare and more difficult to find. With that in mind, a lot of people have started buying bitcoin in exchanges, and accepting them as payment. As long as you have a bitcoin wallet, you can receive coins from any of these sources
How do you Use Bitcoins at the Online Casino?
If you want to use bitcoins to play casino games and obtain your bitcoin casino bonus packages you'll need a bitcoin wallet. A bitcoins wallet is an encrypted online bank account that holds the bitcoins that you acquire. If you're going to mine bitcoins you'll need the mining software which mines --searches for magic combinations that open padlocks to blocks of transactions.
If you're planning on playing with bitcoins at a high level at the no deposit casino Canada you'll want to find fast and powerful mining software which requires a fast computer. The faster you can mine the more bitcoins you'll generate.
If you don't want to mine bitcoins you can join a Canadian bitcoin mine. You'll need to identify a collective of bitcoin miners and join. To set up a wallet, you need to visit the website of a wallet service provider and create an account. You'll need an email address, but you won't have to enter in any other details.
Playing with Bitcoins
Once you decide that you want to play casino games and access your no deposit casino bonus give-aways with bitcoins, you'll need to do some research to ascertain which casinos accept bitcoins and facilitate transactions with a bitcoin casino no deposit bonus code. Not all online casinos in Canada support bitcoin transactions. However, as bitcoin use grows, the number of casinos that have bitcoins as a payment option grows.
To get started, check your casino's Banking Page. You'll be able to see which banking institutions the casino supports. Casinos that support bitcoins will feature that information on their banking page. In addition, the Canadian online casinos support a wide variety of additional ebanking alternatives for casino deposits and withdrawals including credit and debit cards, ebanks that facilitate transfers of funds to and from your local bank account through wire or direct transfer and ewallets and evouchers.. To play with bitcoins you'll need to locate a casino that has a "Bitcoin" button on the Banking Page.
Next you'll be prompted to link your bitcoin wallet to your casino account. When the two payment methods are links you'll be able to make all of your deposits and withdraw your winnings through bitcoins. You can then transfer your bitcoins to Canadian dollars or continue to make subsequent payments for goods and services through bitcoin-supporting metchants.
You can change your casino banking payment method at any time. Just notify the casino that you wish to use another method for your gambling needs and the casino will expedite the change.
You can play all of the casino games via bitcoins including the classic table and card games of roulette, craps, baccarat, poker and blackjack, the casino lotteries, arcade games and variety games and the slot machines.
Regardless of whether you're banking with bitcoins or any other currency you should check the casino to make sure that it is registered and monitored by a recognized supervisory agency. Some of these agencies include the eCOGRA (eCommerce and Online Gaming Regulation and Assurance) agency, the Kahnawake Commission or the Malta Lotteries and Gaming Authority. The seal of the relevant agency will be posted on the online casino's website.