Bitcoin cryptocurrency review

Cryptocurrency called Bitcoin was established in 2009 and since then is rapidly becoming more and more popular. Today Bitcoin currency is recognized as a full currency, accepted by hundreds of shops all over the world. Gaming projects, such as poker rooms, casinos and bookmakers also begin to actively explore cryptocurrency. There were even some online places it specializes in Bitcoin game. Cryptocurrency is independent from banks and countries that allows players from all countries to replenish their accounts and receive payments in gambling establishments, despite the restrictions in legislation.


What is Bitcoin cryptocurrency?

Bitcoin is not exactly what we are accustomed to understand by the payment system. Classic payment systems such as WebMoney or Skrill are only allowing intermediaries to transfer funds from the account of one person at the expense of another, in this case used banknotes of different countries. Bitcoin is more than the payment system, a new full-fledged Internet currency, as well as the US has dollars, Britain – Pound – The internet has cryptocurrency Bitcoin! Like any currency, Bitcoin has its exchange rate against other currencies.

How to open Bitcoin account?
Bitcoin cryptocurrency decentralized functions, the operating principle is similar to the operation of the Internet. No single point, all operations are carried out at the expense of many small and large servers, all users have installed the program-wallets are part of the Bitcoin network. Open an account, in other words, access to the Bitcoin network, the user can through a number of services, about the same as you connect to the Internet, you can choose the provider.

For controls in Bitcoin system, there are two options:

Offline wallets (complete units) – these wallets are installed and are on your PC, they are a complete unit, which checks and transmits the transaction Bitcoin network. These wallets are not dependent on third parties when checking payments. Complete units provide the highest level of security and are important to protect your network. However, for their installation requires a large amount of hard disk space (more than 20GB), high-speed Internet connection and the initial synchronization takes a long time (3-4 days). The main offline purse is considered Bitcoin Core.

Online wallets – like purses are not complete nodes, they provide access to the account through an intermediary, that is, purse is loaded from a remote server. This means that whenever you use your wallet, you have to trust it to the developers and hope that they do not steal your bitcoins and not lose them as a result of the incident on its website. Despite the lower level of security online wallets is more convenient to use because they do not require a long synchronization and access them with a password, with different devices. The most popular online wallets are LocalBitcoins, Cryptonator and Coinbase.

Recently appeared such online wallets that operate as a bank and allow not only to keep Bitcoin currency on the account, but also to pay it in any stores using a classic bank card. They called Bitcoin banks. The first such project is Wirex Bank, registering there you automatically receive a Bitcoin wallet and virtual Visa card attached to it in one of the three currencies USD, EUR or GBP. If you wish, you can order a plastic card, which is free of charge, and the delivery costs depending on the region of residence. Registering at Wirex under our link you receive 25% discount on the delivery of the first plastic card.


How to top up your account and withdraw money from Bitcoin?

Let’s say you already have a Bitcoin wallet, now it is necessary to fill up! The easiest way to get coins Bitcoin is to buy them on the market. LocalBitcoins Exchange at the same time and convenient wallet and input method – O Bitcoin coins.

For Bitcoin coins must first register with the exchanger system, then go to the section “Buy Bitcoins”, choose a seller with the best rate, review and exchange conditions. Making a transaction is accompanied by instructions of the system, in case something is not clear, you can always write the seller to chat or exchange service support. After an exchange of Bitcoin coins fed to the internal user account, and from there they can be immediately translated into Bitcoin wallets in other services, make deposits at poker rooms or pay for purchases

Withdrawal of funds from the Bitcoin wallet carried out in a similar way to that in the LocalBitcoins exchange there is a “Sell Bitcoins” section. The section contains the proposals for the purchase of coins sorted by the rate and method of payments. If no proposal is unsatisfactory, in which case you can create your own application on its own terms.


Translations – sending Bitcoin coins:

During registration the user is Bitcoin wallet Bitcoin address, in the form of a long set of characters. Addresses in the purse can be any number, for purposes of secrecy is recommended to use a new address for each transaction. What would someone could translate the coins you just tell him your Bitcoin address. Accordingly, it would pass the coin is enough to know one of the Bitcoin address of the recipient. Each user Bitcoin has the right to have any number of purses and payment addresses, verification is not required in the system.

Example Bitcoin address: 16XBzKF9F1Y9TeYPKCYuMsS8vSb8TXKAUG

When sending bitcoin coins from a purse to purse, they arrive to the recipient on the average for ten minutes. Do not hold the panic, if they arrive later. Coins do not disappear, they just look for the right purse and the required flow in the system with a huge number of people. It should be especially careful when making transfers, as in the situation when the money was transferred to an invalid (non-existent) purse, they can not be returned. They will get the user of the system, the numbers of which coincide purse in the future to create.

Interesting facts about Bitcoin:
1. Who is behind the creation of Bitcoin, remains a mystery. In the most common version, the creator of virtual money is a programmer Satoshi Nakamoto. In 2008 he published the specification of a cryptographic protocol, and in 2009 developed the first-the Bitcoin client and launched a network.

2. In contrast to the “paper” money, which produce various governments, Bitcoins are beyond the control of any single regulator. Currency is not an administrator and is fully autonomous, and therefore forbid her to use, no one can.

3. The United Center, responsible for the “feed» Bitcoin coins, also not. Users of the system can independently produce (Main) coins, cycling for this video card in their own computers, which calculate hashes block headers. “Mining” – that is, actually getting the money out of thin air – is very slow and requires a lot of computing power and electricity costs.

4. One very important factor is incorporated in the Bitcoin algorithm: the total number of coins should not exceed 21 million. By achieving this level of their emissions will be stopped. Since 2009, it produced more than half of Bitcoins – about 12 million. According to the forecasts, taking into account the increasing complexity of production, exchange resources could be exhausted by 2140.

5. Bitcoin – is not the only “cryptocurrency”, but the first, which was very popular. Among the alternatives – Litecoin, which can be “Mine” is almost four times as fast, Peercoin (mining limit is not set), Namecoin, applying modified Bitcoin-algorithms, and dozens of others.

6. One Bitcoin is rather large unit on the Bitcoin can be divided into smaller units, such as the ruble on a dime or dollars for cents:
1 BTC = 1 Bitcoin
1 mBTC = 0.001 Bitcoin (millibitkoin)
1 uBTC = 0.00000100 Bitcoin (miсrobitkoin)
1 satoshi = 0.00000001 Bitcoin (Satoshi)

Poker rooms accepting Bitcoin:

Bitcoin as a means of transferring money and is perfect for gaming as a whole. Complete anonymity and the absence on the part of banks and control allow to transfer money from anywhere in the world, enough to have access to the Internet. This is often used players from countries where online gambling is limited. Already for the game on Bitcoins there more than a dozen poker rooms, some of which we describe in this article, and the full list will be published in a separate collection …

Nitrogen Poker (sign up)
Slightly less popular poker room to play on the Bitcoin is quite convenient web client for the game of poker, as well as a section for sports betting. It works great on both the computer and mobile iPhone, iPad and Android. One of the interesting features can be noted in the showroom held daily freerolls and a particularly interesting Sunday Freeroll on 500 mBTC.

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