Cryptocurrencies, Bitcoin and the world of online gambling have already crossed paths since some bookmakers already accept this type of currency as a form of payment.
Although more and more people are aware of the existence of cryptocurrencies, there are still those who have hardly heard or read about them. Bitcoin, which is the most well-known cryptocurrency in the world, does tend to sound more familiar to the majority of the population since more and more companies accept it as a means of payment, such as Microsoft, Shopify, Starbucks or Expedia, among others.
What is a cryptocurrency?
A cryptocurrency is a type of virtual money that uses cryptography as a system to secure transactions. To define it in a more colloquial way, and in practice, it is a digital type of money, decentralized and alien to the movements of the Central Banks or the US Federal Reserve.
In addition to Bitcoin, there are others such as Ethereum, Chainlink or XRP in addition to many others.
According to the definition of money, we would be facing the best money ever created in the world , since it is safe, it is transferred instantly, it is totally divisible and has the great advantage of decentralization. This means that its value will only depend on the purchase and sale of it, without any government of any country being able to falsify its price.
For example, if the Federal Reserve injects trillions of dollars into the markets, the fact that this money supply increases so much without experiencing an increase in production, will mean that prices will rise and the value of money will fall. This so common in normal money (or FIAT money) is responsible for the shopping basket to increase in price over time.
For this reason, cryptocurrencies are considered by many economists as a safe value due to their characteristics similar to those of gold. This type of money is highly valued among the circles closest to economic liberalism, who recommend it as an ideal asset for long-term savings.
What is Bitcoin?
Bitcoin is the most important and well-known cryptocurrency, and in a way the one that marks the path of the others. Its creation is shrouded in mystery starting with the Bitcoin developer, whose identity is unknown and who operates under the pseudonym Satoshi Nakamoto.
Bitcoin has another advantage that directly influences its value and that is that Bitcoin is finite. The maximum number of Bitcoins that may be in circulation is 21 million, with which under no circumstances may more Bitcoins be injected into the market.
This gives the price of Bitcoin a long-term upward trend, since those who intend to get Bitcoin, will have limited units.
How do you get cryptocurrencies?
The most common way is through the internet, on pages that are dedicated to buying and selling the main cryptocurrencies such as Coinbase or Kraken, as well as some electronic wallets such as Skrill. These same pages serve as a “bank” to store cryptocurrencies, but when you are in possession of a significant amount, it is recommended to purchase a “wallet”, which is an electronic wallet in which they can be stored indefinitely.
Bookmakers that accept cryptocurrencies
The same does not happen in the rest of the world and some bookmakers allow their customers to make payments with Bitcoin, joining the wide range of digital companies that accept this new currency.
We will share the most famous Bookmakers which accept crypto here soon.
