An Introduction to Bitcoins
Bitcoin (BTC) is the most popular cryptocurrency currently used around the world today. With over 2.5 million users and an ever growing community, bitcoins are rising in value with no signs of stopping. Conceptualized in 2008, bitcoins are a fresh currency with exceptional potential. Using world renowned security protocols, faster transactions than traditional banking, inexpensive fees and complete anonymity, bitcoins are emerging as a popular alternative to common currencies. By improving on many elements that currencies around the world suffer from today such as inflation and manipulation, BTC has brought the next generation of stabilized currency into the forefront. Take note that bitcoins do not exist in the physical world as actual coins or tender, they are stored entirely in bitcoin wallets, which is essentially a personal bitcoin bank account. However, no banks are involved with bitcoin resulting in much cheaper fees than normal banking.
Bitcoin miners use specialized hardware and software to approve all bitcoin exchanges between wallets to verify transaction integrity and also process complex algorithms which release new bitcoins onto the market when solved. Every time the algorithm is solved, a new algorithm is provided to the miners but with added complexity, delaying the release of the next set of bitcoins to prevent inflation. More businesses are accepting bitcoins as a legitimate method of payment every single day; as time progresses the value of a single bitcoin will continue to rise; investing in bitcoins early is a wise and objectively safe decision.
How Do I Get Started?
To get started using bitcoins, you will first need a bitcoin wallet. A key bit of information you must be aware of is that if your wallet is ever lost or corrupt, you will lose all your bitcoins if you have not backed up your wallet. Please be aware of this when you choose a wallet type.
The three variations of wallets:
- Online wallets → blockchain
Online wallets are stored by a third party on their cloud servers. Creating and backing up your bitcoin wallet are simple if you choose a web-based wallet because some online wallet providers keep backups for you while also giving you the option to back up your bitcoin wallet yourself.
This is recommended for new bitcoin users or people with basic computer knowledge.
- Software wallets → electrum
Software wallets are stored entirely on your own computer, but require that you backup your wallet manually. They are more secure than cloud wallets because if the cloud is ever compromised, you run the risk of losing the contents of your wallet.
This is recommended for intermediate/advanced users
- Hardware wallets → ledger
Hardware wallets are the most secure type of bitcoin wallets. In order to access your bitcoin wallet, you need to have a special piece of software that usually plugs into your computer via USB. You also need to backup this wallet manually. However, it is the most secure solution because nobody can access your wallet unless they have the USB device that unlocks it.
This is recommended for advanced users or people who are storing large amounts of bitcoins.
For a list of wallet solutions, please visit https://bitcoin.org/en/choose-your-wallet
There are many options available for purchasing bitcoins. You can purchase them with wire transfers, credit cards, money grams, debit cards and even in cash. Be careful when purchasing your bitcoins. Verify that the person you buy them off of has a good reputation in order to avoid fraud and other scams.
Confirmed reputable sites for purchasing bitcoins instantly:
Bitcoin & Online Gambling
Online bitcoin gambling can come in a variety of forms. Casino games with live dealers and video slots, dice sites, sports betting and poker are the most popular forms of bitcoin gambling currently available. Many sites offers deposit bonuses for new and existing members, usually doubling your initial bitcoin deposit on their site. Additionally, many sites provide proof that they are operating legitimate bitcoin gambling environments by providing evidence for provably fair games. Provably fair (PF) means that the odds are not overwhelmingly stacked against players, and we highly recommend you take this into consideration before playing.
Many countries around the world have banned either bitcoins or online gambling. To determine whether it is legal to bitcoin gamble in your country, please reference our legality page
Bitcoin Gambling Sites
There are many sites available for bitcoin gambling, each with their own games, bonuses, jackpots and prizes:
Bitcoin Casinos: Blackjack with live dealers, roulette, lottery, dice, baccarat, keno and many other exciting games can be found on the many bitcoin casinos currently available online. When choosing a casino for bitcoin gambling, you should look for game variety, deposit bonuses and a strong customer support team.
|150% up to 300 mbtc, enter bonus code “GWB”|
➥ Other top bitcoin casino sites can be found here
Bitcoin Poker: The most well-known casino card game on the planet can be played online with bitcoins. Standard Texas Hold ‘Em, Pot Limit Omaha, 7 Card Stud and many more variations are readily available to be played. Consider rake back bonuses, deposit bonuses, bad beat jackpot availability and community size when selecting your poker environment.
|100% Deposit Bonus, 10% Rake Back and Bad Beat Jackpots|
➥ Other top bitcoin poker sites can be found here
Bitcoin Dice: Many dice sites utilize provably fair software to verify that each roll is legitimately 50/50. Most dice platforms allow you to configure thousands of rolls in a row, modifying the bet amount after winning or losing which allows players to implement a mathematical strategy into their rolling methods via software automation. When selecting a dice site, you should look for a strong faucet, the house edge percentage and provably fair software.
|HTML5 dice with generous faucet and house edge less than 1%|
➥ Other top bitcoin dice sites can be found here
Bitcoin Slots: Video slots can be found throughout the bitcoin gambling community on many sites, each offering different games from several developers. Many bitcoin casinos offer slots along with other casino card games like blackjack. The premier video slots environments will often have fast game load times, a vast array of games available, strong deposit bonuses and an excellent customer service team.
|Up to 2 BTC exclusive bonus with 200 free spins and progressive jackpots|
➥ Other top bitcoin video slots sites can be found here
Bitcoin Sportsbooks: Sports enthusiasts have the ability to bitcoin gamble on many different sportsbooks websites. Winning bitcoins with your sports knowledge is easier than ever and many sites support the ability to bet on virtually every major team and individual sport around the world. Be aware that some sportsbooks platforms offer different odds than others.
|100% Initial Deposit Bonus up to 5 BTC and high BTC limits per bet|
➥ Other top bitcoin sportsbooks sites can be found here
Our Bitcoin Casino Reviews
Bitcoin gambling comes in many forms, ranging from online casinos with video slot machines and live dealers, dice, sports betting and poker sites. Since there are so many avenues to gamble with bitcoins, our goal is to keep the bitcoin community up to date on the best environments for bitcoin gambling by doing all of the research for you. Making sure you make an informed decision about where you play is our primary focus. We do so by thoroughly researching and playing on every bitcoin gambling site and using our experiences to deliver unbiased reviews of each site. Using our reviews as a definitive guide, bitcoin community members are finding new and exciting places to play every single day.