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The Distinct Characteristics of Cryptocurrency

Here at Bitcasino, we accept cryptocurrencies as a form of payment. Unlike other casinos which have not fully adapted to the use of crypto, we aim to provide our players with a full virtual casino experience. We also came up with the concept of using these cryptos for fun. With that, we became the first licensed bitcoin-led casino online.

As some still tend to be unfamiliar with cryptocurrency, we would like to show the special characteristics that make cryptocurrency remarkable. With that, here is a quick rundown of the three most distinct characteristics of the said digital asset.

Decentralized

The thing about cryptocurrency is that it is decentralized. This means that it is not being controlled. Simply put, banks and government agencies have no jurisdiction over transactions made with crypto unlike with regular money.

Provided with that fact, crypto transactions also happen to be faster as there needs not to be a mediator in a transaction. Also, it is non-taxable.

Immutable

All cryptocurrency transactions are recorded in the blockchain. With that, it would be impossible to retract or change the details of a certain transaction as it had already been recorded. Given the fact that crypto is decentralized, we already know that there is no third party in the transaction that can help us change some details.

In fact, alteration of crypto transaction records is nearly impossible as it may affect the entire network. However, one would need not to worry about having misinformation on the blockchain. As there are no mediators in the transactions, system errors and glitches are quite impossible as everything is done directly.

Secure

Another factor which made people more interested in using crypto is the fact that users have the option to keep their identities and transactions private. Aside from the speedy transactions, what people love is the fact that they have the freedom whether or not they would want to indicate their name or their purpose for sending crypto. Still, you can track the crypto that you sent with the help of a transaction ID which allows you to monitor whether or not the money had already been received.

Aside from anonymity, what makes crypto secure is the fact that it is just stored in a digital wallet. With that, one would need not to be worried about having their money stolen or misplaced.

Popular forms of cryptocurrency

Nowadays, several forms of crypto have already emerged. With that, here are some of the popular cryptocurrencies that you may use when you play with us at Bitcasino.

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Tron (TRX)
  • Tether (USDT)

Overview

Overall, using cryptocurrency is really a great thing to do. It holds a lot of benefits for its users and indeed, it can be used for many things. As the years pass, more and more people switch to using crypto for their transactions and purchases. Proven to be reliable and safe, it will no longer be surprising to see crypto- grow further in the years to come.

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