With any new technology, you might wonder, if it can be trusted. Can people trust Bitcoins and new casinos? Here is the answer.
Can You Trust Websites?
Online casinos, Bitcoin and websites are all inventions of the World Wide Web. None could exist without the Internet. Therefore, their initial trustworthiness is based on the Web.
Can you trust websites? Can you trust everyone? Do you leave you home door open? Do you lock your doors?
The World Wide Web is a reflection of the world around us. You will find good websites and bad websites. The same is true for online casinos. There are legitimate and fake online casinos. That is the cold, hard truth.
Are Online Casinos Regulated?
So far, much of the Internet remains unregulated, which includes online casinos. It is very difficult to regulate websites, because most people don’t know where the servers are located. A Bitcoin Casino might be headquartered in one nation and have a server in another nation. That makes it difficult for governments to control.
How Long Has Bitcoin Been Around?
Bitcoin has existed since 2008. Its security is based on its Blockchain, which stores every financial transaction ever made. There is no monopoly of Bitcoin by any man, organization or nation.
This “decentralized” structure is one of the best attributes of Bitcoin. Because no single entity controls it, Bitcoin is tough to control or manipulate. Others can check the Blockchain and reveal any tomfoolery.
Provably Fair Trading
Bitcoin uses the “Provably Fair Trading” concept to demonstrate the trustworthiness of online casinos. Of course, you want to ensure that the numbers, cards or results are random and not rigged. The Blockchain hash is added to gambling results and summarizes what took place before it.
A key feature of a hash is that it is unpredictable; it is random. Thus, if you can begin to predict the next number in a sequence, you can prove that something has been rigged.
A hash can also not be tampered with, due to its unique characteristics. Thus, the online casinos cannot falsify this important record.
Beware Bad Casinos
Just at their are bad used car salesmen, there are bad casinos. It could be due to laziness, poor graphics, slow speeds or slow Bitcoin withdrawal. You should read customer reviews on gambling websites ahead-of-time.
If you keep seeing the same complaint, then that is a “red flag.” There are so many great Bitcoin Casinos, that you don’t need to settle for a bad one.
Can You Trust Bitcoin?
Bitcoin is a digital currency. If you understand how it works, then you might feel comfortable using it. Did you know that Microsoft, Sears and Lamborghini have all started to take Bitcoins?
There was even a Bitcoin initial public offering (IPO). If shareholders trust Bitcoin, shouldn’t you?
Bitcoin miners have invested millions of dollars in software and hardware. They understand that by mining Bitcoins, they can gain leverage. They know there is a market for digital currencies.
The Internet is not going away. Everyday, there are more eCommerce transactions and all of these can be improved with Bitcoin and other crypto currencies.
Be careful of which Bitcoin Casino, you trust. But if you find a good one, you can have some good, clean fun. You also might be able to earn some healthy profits. Bitcoin is one type of money that keeps rising in value.