All you actually get is a long number – the encrypted key to your bitcoin wallet. You can see lots of accounts, but no names. Smart readers may have noticed the problem here – if everyone has their own copy of the ledger, won’t everyone be able to see each other’s details? Well, yes and no. This eliminates the need to go to a bank, government or other third party to make the transfer and ensures it will always remain free (or very close to that). With Bitcoin, the ledger is shared as a copy between hundreds or thousands of users and is automatically updated when a transaction occurs. On each end, there is the opportunity for delays and fees or possibly even corruption, bankruptcy or worse. With traditional currencies, banks hold onto an electronic ledger of all their customer’s funds and if you want to move money somewhere else – you (or your bank or debit card supplier) have to contact both banks and get them to update their respective books. We picked out some of the best for you to compare, below: How Bitcoin Worksīitcoin was born out of the desire to make a payment system free from third party interference between the people who transact – these third parties are banks or debit card companies.
Aside from that, their bonuses mostly work in the same way as other online casinos do. Bitcoin casinos can offer much larger bonuses, as without major banks involved – their financial transaction costs are basically zero.
