One thing that’s become incredibly popular in the last few years in the US is bitcoin based bingo sites. These alternate currency sites have spread like wildfire as more people have begun to warm to the idea of using bitcoins.
What Is Bitcoin?
Although it may initially look like a complicated online system bitcoins are actually pretty straightforward to understand. They are an alternative online currency that lets you convert real cash into digital coins to then spend on whatever you like – in this case bingo games.
How Is It Used?
Since their inception bitcoins have been mainly used to perform secure online purchases of items.
For example some gaming sites let players purchase weapons, armour and other items; whilst non-gaming sites let you use them to purchase retail items. You can even use bitcoins to unlock things faster in Facebook based games like Farmville which will normally confine objects like special in-game items or perks to a time limit.
These are of course pretty popular, but one area that they’re really taking off in is on bitcoin bingo sites. They’re normally used on these online gambling sites to place wagers on a wide range of games or buy tickets for events in different bingo rooms.
What’s The Difference between Bitcoin and E-Wallets?
Although both bitcoins and e-wallets let you store real world cash in a digital format both of these payment methods are incredibly different.
When you use e-wallets the amount of money that you put in will always be what you’re given in return, i.e. if you deposit £10 you’ll have £10 stored digitally. Whilst with bitcoins you aren’t always guaranteed that since the value of this digital currency is regularly in flux.
So for example you could put in £1 and get a lot of coins for your cash or you could get a lot less than you normally would, it all depends on how the bitcoin market is doing, which makes it a tad unreliable.
With both systems you’re guaranteed secure transfers but with bitcoins there’s an element of anonymity so you could easily be ripped off by someone you’re transferring cash to for coins and there’s no way you could possibly trace them. Whilst with e-wallets you can be easily traced and held accountable for cash should you or anyone else not pay-up.
Another difference is that bitcoins can be used across a wider variety of websites and they can sometimes be used to pay for items in a store. E-wallets in contrast aren’t always readily available on websites so you’ll often be stuck with card payments instead.
Also you can’t use e-wallets to instantly pay for items in a store unless the shop already accepts e-wallets and you have cash already set aside in your account and they have a working e-reader to complete the transaction. This is a lot of things you’ll have to consider when you decide to use e-wallets in a store.
Bitcoin Casino Sites
Check out these bitcoin bingo reviews to get the lowdown on the best sites which accept bitcoin as a payment or withdrawal method:
This US friendly bitcoin bingo site is absolutely brilliant, when you sign up you’ll be given a 100% match bonus on a deposit of up to 1,000 mBTC to instantly double your money.
Then when you make your second deposit you’ll be given a 50% bonus on any amount up to 1,000 mBTC. Finally, when you make your third deposit of up to 1,000 mBTC you’ll receive one last 25% bonus to make the most of your digital cash.
When you sign up with this site and make your first deposit of at least 1BTC you’ll be given a 100% match bonus that will allow you to double your money.
Overall bitcoins are an interesting and exciting system to use and they add a refreshing spin to the online bingo genre. With a larger number of sites starting to accept them it probably won’t be long until the usage of bitcoins to manage our bingo accounts becomes a normal online payment option!