An electronic currency known as bitcoin was invented in 2008 and officially launched in 2009. The origin of bitcoin is explained in a white paper issued under the pseudonym, Satoshi Nakamoto. The presumed bitcoin inventor is said to be a computer scientist from Japan. Bitcoin allows the user to make payment at an online live casino with their mobile devices in a few steps. No sign-up, PIN, or swiping of a card is involved. All the punter needs is to display a QR code in their bitcoin wallet app and let the live casino scan it.
All bitcoin payments are secured by cryptographic signatures so that no third party can figure out the transaction details. As such, deposits and withdrawals in bitcoin are strictly between the player and the live casino. As long as the punter takes the necessary measure to protect their wallet, bitcoin offers them full control of their funds plus robust security against online fraud. The best part of using bitcoin is that it works anywhere and anytime. Also, gamblers don’t need to use the same software or bitcoin wallet as the casino. A bitcoin address is all that’s needed to make transfers.
Bitcoin runs under blockchain technology whereby no banks are involved. There are no extra fees for sending and receiving money internationally. Customers can control how much they are charged when they spend bitcoins through their wallets. There’s no correlation between the amount in the transaction, so one can send 100 BTC for the same fee that would cost to send 5 BTC. The default fees are reasonable and higher charges usually encourage faster verification. Plus, there are no limitations on the amount users can send to a live casino or withdraw.