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Best BitCoin Mobile Casinos

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BitCoin casino software works very easily. To be able to send money to another BitCoin address, any user can click links on webpages. Mobile users recognize BitCoin URLs in QR codes, so that they don’t have to type the BitCoin address and amount manually.

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BitCoin – an innovative payment network

Invented by Satoshi Nakamoto, BitCoin is a peer-to-peer system where clients have the ability to conduct directly without needing an intermediary. Published in 2008 and released as open-source software in 2009, BitCoin works through transactions that are verified by network nodes, which are then recorded in a public distributor ledger called the block chain.

This ledger uses its own unit of account, which is called BitCoin. BitCoin is classified as a decentralized virtual currency by the US Treasury due to the system working without a central repository or single administrator.

Hand with mobile smart phone and bitcoin currency symbol

BitCoin online mobile gambling

As stated previous, BitCoins can be transferred between users through addresses, this is free. However, when it comes to online casinos, they tend to charge a fee, also known as payment processing. Thus every time a player wants to do a transaction, e.g. a deposit using a debit or credit card, e-wallet or bank account, a fee is asked for the use of their service.

How To Use BitCoin on mobile casinos

The first step to obtain BitCoin is to download the software and then to install it on your computer. It’s simply as easy as to just register. BitCoin is very safe, however with most online banking methods one should always be safe and you are not insured that you will get what you want when you pay for it, as with paypal. BitCoins are purchased through currency exchange websites and are then known as ‘BitCoins’. These can then be used to buy casino credits.

BitCoin has included several features that protect it against some of these potential threats:

  • History modification – each block of transactions which is added to a block chain includes a cryptographic hash code.
  • Double spending – BitCoin guards users against the potential double spending error.
  • Race attack – a race attack consists of a race of which transaction will be accepted first.
  • Unauthorised spending – this is mitigated by BitCoin’s implementation.
  • Selfish mining – this threatens honest miners to lose a significant part of their revenue, whereas the hackers profits rise.
  • Deanonymisation of clients – this is possible attack which links a user pseudonym to its IP address.
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