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Mobile Bingo Bonuses aim to bring you the latest news in online gaming and we’ve become aware of the ever growing Bitcoin Casino industry, so knew we had to tell you about it. What makes this news even more interesting is the fact that Microsoft the global computer software organisation have joined the Bitcoin community by adding a payment option for a number of their online services.
Eric Lockard corporate vice president of Universal Store at Microsoft explained the move to add this form of online currency to purchase their games, apps, X Box and phone media.
“The use of digital currencies such as bitcoin, while not yet mainstream, is growing beyond the early enthusiasts. We expect this growth to continue and allowing people to use bitcoin to purchase our products and services now allows us to be at the front edge of that trend.”
The integration is only partial, however. Microsoft said it will not accept the digital currency as a direct payment method, though a broader integration could take place in the future.”
This will add further fuel to the questions regarding the relevance of this cryptocurrency, its advantages and whether Bitcoin and others such as Darkcoin and Litecoin offer the security needed in the gaming industry.
So with more and more Bitcoin casinos appearing online such as Unicoin Casino, each offering the ability to wager and earn bonuses in Bitcoin; why should we buy it?
What is Bitcoin?
The basics are that Bitcoin is a digital currency created specifically for buying and selling on the internet. But what adds to its appeal is the fact that it is the first decentralised payment method, meaning that it isn’t controlled by the Government, banks or middle men. With the huge economic difficulties over the previous ten years felt to be caused by the banks, this is a big plus for many people.
So where did Bitcoin come from? This ‘crypto-currency’ idea has been around for a while but has significantly grown since 2010. Other companies such as Microsoft that have become part of the Bitcoin world are Paypal which opened up the new currency to millions of retailers and more notably Virgin Galactic. Owner Richard Branson announced that he will be accepting Bitcoins as payment for future space travel. Branson stated “Virgin Galactic is a company looking into the future; so is Bitcoin. So it makes sense we would offer Bitcoin as a way to pay for your journey to space.”
Advantages of Bitcoin
Many people are cautious about using cryptocurrency but due to the fact it’s a peer to peer payment, it can be made instantly with no imposed boundaries or limits which normally lead to additional fees.
Because of this there are fewer risks to merchants and customers because transactions are secure and transparent, meaning your personal data is safe.
Disadvantages of Bitcoin
Unfortunately due to the fact this is still a relatively unknown and understood currency, very few people will accept Bitcoin as payment. With it still being in its infancy, we’re sure there will still be elements of ongoing development; something that other forms of currency cannot offer.
It’s apparent that because of Bitcoins flexibility the obvious move would be into the online gaming industry, and although many sites don’t offer Bitcoin payments it will soon become the norm; as with the every growing pay by phone bill industry.
Bitcoin casino sites which currently offer crypto-currency payments are;
UnicoinCasino offers a huge range of table casino, virtual race book and slots including household names in the 3D slot industry.
Due to the way that this payment method works you don’t need an account, which means complete anonymity. Plus unlike other casinos who have capped withdrawal payments, with Bitcoin you can settle and withdraw automatically.