At six years in development and coined as the creator of a “digital currency revolution” that is spawning a new way in which financial transactions are completed, Botcoin is now appearing as an alternative payment method for purchases across the world and has also become associated with major companies including Fiverr, PayPal and most recently, Microsoft.
The Bitcoin system is a digital currency that offers alternative payment solutions ranging from goods to services. It acts as a representation of the value of goods just like other currencies, but cuts out third parties such as banks. Bitcoin is decentralized, which means there is no governing political or financial institution associated, so the fluctuation upon which its value is created depends on how much people attribute value rather than being subject to inflation and devaluation of currencies-something of every country has witnessed since the establishment of banking institutions back in the 1400s.
The currency is revolutionary for those reasons as people are able to make financial transactions with each other instantaneously without the need of credit approval from third-party banks. The amount of Bitcoin you own is the amount you can spend, which has both benefits and losses. The beneficial part is that people can avoid debt from spending too much but will not be able to gain more Bitcoin unless it is purchased either through a dollar or Euro, or passed onto as an alternative payment solution from another buyer.
In the gambling world this technology and other similar digital currencies are paving the way in which people will be able to make transactions. The technology does not promote illicit behavior, nor does this article imply such a currency should be used for such means, but for innocent pokies playing in which Australians and Kiwis want to obtain earnings, the currency represents one of the best alternatives as governments frequently change laws regarding online gambling.
Online gambling in Australia and New Zealand is legal but there are land-based casinos that are attempting to persuade government officials to put tougher laws for restricting games such as online pokies. Whether or not such a development would come to fruition is beyond saying at this point, but a payment system such as Bitcoin would be a perfect solution for gamblers to continue playing and not worrying about any financial transactions being traced, as the system is decentralized from authoritative oversight such as the FBI etc.
Bitcoin is a great way for pokie players to trace and manage their gambling assets better as well. Some players do not like to interfere their pokies playing with their credit card or debit statements (such as the misses finding out) and therefore prefer to have an alternative system that does not require them to open another account, or risk losing more than what they have.
Many pokie players turn to PayPal for such a solution but the number of providers that offer PayPal fluctuate from year to year for reasons not known to the public. At present, the main provider of PayPal solutions for pokies and other gambling games/events for Aussies and Kiwis is Super Casino, which is a safe and regulated platform established for several years.
But for those looking for additional options, Betcoin, which focuses on casino, sport and poker playing, is your best bet. On the casino side, Betcoin offers Roulette, Blackjack and Baccarat while sports betting ranges from basketball to golf, baseball, soccer, ruby and even motor sports. There are also various video poker and online tablet games in addition to pokies slots and progressives, much like other leading gambling sites on the internet.
Deposits and Bonuses
Betcoin requires deposits from Bitcoin and Litecoin. Welcome packages with 100% bonuses are offered upon your first deposit in addition to free spins and 1,000 Bitcoin credit. For a second deposit there is a 50% bonus with the same amount of free spins and bonuses as the first deposit and 25% for the third deposit. There are also various promotions given to both short-term and long-term players.
Deposits and Withdraws
Since Bitcoin is associated with Betcoin, this means that a transaction for withdraws and deposits are done instantaneously and does not require a third-party oversight. Betcoin follows the same principles and stipulates on its website that transactions are done instantaneously as the platform is directly connected to Bitcoin.
Australia and New Zealander pokie players or sports gamblers can get started buy downloading free software from Betcoin’s site. Users need to create a valid username and provide an email address in which they set up an account and fund it with Bitcoin. Currently the company offers compatibility with Mac OSX and Windows PC applications.