The Online world has continuously evolved where other entities have remained stagnant. Not only has it become a means of information, but also communication and transactions that were before only possible with face to face interaction- you can now do anything online. For those who enjoy the thrill of gambling, we have a place in there too. Virtual casinos have flooded the interweb, and you are able to play your favorite games with people around the world.
However, it becomes slightly more bothersome when you start playing with real money. There are so many things that can go wrong with this: your information could get leaked, you could get additional charges on your card, or some genius could even find a way to charge you for bouncing payments.
As much as I enjoy gambling, I was not about to put myself in a position that would jeopardize my finances. While looking for safer ways to process my bets, I came upon Bitcoins. Bitcoins are a strictly online financial unit of transaction that you can use for your payments and bets. Why is a Bitcoin better than a dollar in the online world?
1. It’s universal
You will have no boundaries between you and those from other countries, as bitcoins are a universal commodity. You will have no conflicts with overseas transactions and have one less worry whilst gaming and making transactions.
2. It’s anonymous
Much unlike credit cards, debit cards and other online transaction accounts, Bitcoins will not ask you for any important information, which will give you privacy for your purchases as well as safety. All you will be asked for is your “public key”, which is generally your Bitcoin address, and a “private key” only known to you, to make a transaction. These are combined using math, and creates a sort of stamp that serves as proof of transaction. You do not need to know your merchant, your merchant does not need to know you, and there are no in-betweeners to worry about.
3. It’s yours
No authority can claim the ownership of the Bitcoin market. It is made for the consumers, and the consumers will stay in charge. There will be no sudden inflations caused by a bank or government, as there exists a maximum number of which Bitcoins will be produced- only 21 million will ever exist, and it will never go over that. Your funds and the economy is not out of your hands.
Online transactions, and between strangers, no less, have never been considered wholly safe. Bitcoins provide a platform where transactions can happen without as much risk as using real currency, but with the potential to earn just as much with no self-caused losses. When I play slots with bitcoins, I still have the capacity to gain a huge winning, without having to give up precious information and put myself in a risky situation with my finances, which exist even without a present merchant.
Bitcoins are safe, they are untouchable by the government, and they are just as valuable- sometimes more so, than any real world unit of currency.