Why use Bitcoins?
Bitcoin is virtual currency you can use for depositing and withdrawin money in Kingswin.
We'll give you an overview of the Bitcoin and why you might want to give it a try.
WHAT IS A BITCOIN?
Bitcoin is the most well-known and by far the most used cryptocurrency and worldwide payment system. Bitcoins are created as a reward for a process known as mining and can be exchanged for other currencies, products, and services.
As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment method. Research produced by the University of Cambridge estimates that in 2017, there were 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.
HOW TO GET BITCOINS?
There are multiple online platforms where you can buy or sell Bitcoins for example: eToro, easyMarkets, cex.io and Trade.com just to name a few of them.
HOW TO PAY WITH BITCOINS
Once you have Bitcoins you’ll be able to make payments. Bitcoins are accepted by more and more merchants every day as an accepted payment method, however, you need to look out for “We accept Bitcoins” sign on the websites or find the option under the list of payment methods. There is not a whole lot of online casino that accept Bitcoins yet, however, Kingswin is one of the casinos that accept transactions made with Bitcoins.
Keep in mind that due to regulation deposit and withdrawal methods have to match therefore when depositing with Bitcoins you will only be able to get your balance back in Bitcoins.
WHAT MAKES BITCOIN SPECIAL
Compared to other payment systems Bitcoin and cryptocurrencies do not have a central bank or single administrator making the system work. The network is based on peer-to-peer exchange of Bitcoins and transactions take place between users directly. All transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain.
Bitcoins are expected to be the leading future currency and therefore many people buy them in hopes of selling them in future for the higher price. However, according to the statistics, the value of bitcoins is very fluctuative, for example having the all-time high of $19,783.21 on December 2017 and having currently dropped to $6,682.98 in just 3 months. This means trading with Bitcoin involes risk as any other investment strategy, however, there is a good chance of making at least a little bit of profit in long run investing small amounts to Bitcoin currency regulary. This can be said due to the statistics that show the increase of value for Bitcoins over the years.