Everyone is talking about Crypto. Reason enough to introduce you to the bitcoin casinos of our choice! We focus on your security in a bitcoin casino and reveal whether payments with crypto are really anonymous.
How long do Bitcoin payments take?
While transactions from e-wallets end up in the customer account within a few seconds, deposits with bitcoins sometimes take a little longer. In some cases, the transfer is visible within a few seconds, but the transaction must be automatically confirmed 6 times in the background.
On average, a block is generated every 10 minutes. By then at the latest your sum has been paid in Bitcoin and you can start gambling.
What actually is bitcoin?
The cryptocurrency Bitcoin is a digital payment method. The basic idea behind the creation of the means of payment was to remove the middleman - the bank - from all transactions. With Bitcoin, transfers can be sent directly from the sender to the recipient.
The second important point of Bitcoin is that data is not stored centrally, for example at the house bank. If the bank is hacked, you may have lost your money. Due to the decentralized storage in the Bitcoin network, this is not possible. There are countless backup copies around the world here. Every participant in the Bitcoin network gets a copy of a complete transaction history.
Thus, every attempt at fraud is nipped in the bud, which makes a Bitcoin Casino extremely safe and reputable.
Are Bitcoin Payments Really Anonymous?
Basically, the means of payment is based on the general anonymity on the Internet. This means that any transactions for private individuals and companies are hardly or not at all traceable. It only becomes interesting if IP addresses and/or Bitcoin addresses (wallets) are known. Because then Bitcoins can very well be assigned to a person or a company.
All transactions in the Mobile casinos between two addresses are publicly and decentrally logged and permanently stored in the Bitcoin network. This means that all transactions that have ever been made are, and always will be, traceable.
How do you mine Bitcoin?
Mining is the central point when dealing with bitcoins. Nowadays it is actually almost impossible to mine bitcoins yourself. The reason for this can be explained relatively quickly: the number of all coins is limited and demand is now extremely high.
To date, the number of coins has decreased due to the great interest, at the same time the value of all bitcoins in circulation is increasing. Since it is now much more difficult to mine coins, it takes an immense amount of effort to create the conditions for this.
The “miner” receives bitcoins by solving a complicated mathematical task on his computer. The coins act as a kind of reward. What were simpler algorithms at the beginning of the currency have become increasingly complex over time. The effort to currently dig bitcoins is immense and almost impossible for the average Joe. There are already huge mining farms in Russia and China for this.
