July has been a pretty big month for online gamers. A new cryptocurrency has been promoted that may just change the way some players make deposits on their favourite online casino sites.
The Breakout Coin hit the headlines recently because it was offered for public sale. This basically meant a few things:
- Members of the public had a chance to buy some
- 6,627,494 Breakout Coins were up for grabs
- Early buyers had a chance to enjoy a bonus of between 5% – 25% depending on when they bought their coins
Is the Breakout Coin just the same as Bitcoin?
Now, even if you don’t know much about cryptocurrencies, you’ll probably have heard of Bitcoin. If not, here are some facts about this virtual currency:
- Over 43 million Bitcoin transactions have occurred since its inception in 2008
- No one quite knows who created it (other than the fact the person has a pseudonym of Satoshi Nakamoto)
- New Bitcoins are ‘mined’ on a daily basis
- Only a limited number of Bitcoins will ever be created, thus keeping their value
The Breakout Coin differs from its more famous counterpart in a number of ways:
- It is associated with a gaming platform by the name of Breakout Gaming
- It also has two companion currencies – Sister Coin and Breakout Stakes
- Interest can be paid on Breakout Stakes
- Sister Coins can be mined and changed into Breakout Coins
What could it mean for online bingo players?
Well, Breakout Gaming does operate a Breakout Poker site at the present time. This operates on a variety of platforms, including:
A variety of poker variants are offered on this site at the moment. However, there is a chance that if the Breakout Coin becomes a greater success in the near future, players on other sites will be able to make use of it as well. We may also see other games being added to the Breakout Gaming stable, including bingo and slot games.
As you might already know, you can join an ever-increasing variety of gaming sites that now accept Bitcoin. Maybe the same will be true of Breakout Coins in the future as well?
Is this something you need to be concerned about?
No, not at all. Bingo sites tend only to offer the more traditional payment methods at the present time. We can’t actually think of any that have Bitcoin as an option. However, more online casinos are offering it as an option, so perhaps bingo-led sites will be next.
Some people are still skeptical of virtual currencies at the moment. There are several reasons for this:
- The anonymous transactions mean some have used them for illegal purposes
- They seem to have a limited marketplace and audience
- They’ll never replace traditional currencies as they’re not big enough
So if you love your online bingo and you want to continue playing and paying in the normal manner, carry on. You probably won’t see these virtual currencies being used on your favourite site for a while yet.