Q: How can I buy Bitcoin and all other Cryptocurrencies?
You can buy Bitcoins and other altcoins (alternative coins) via electronic wallets. Credit Cards, Bank Wire Transfers or nearly all of the e-Wallet payment systems can be used. Your cryptocurrencies will be stored either digitally or both digitally and physically.
Q: Who created Bitcoin?
Nickname of the founder is “Satoshi Nakamoto” but “Craig Wright” has been sued for owning $5,118,266,427.50 valued Bitcoins. He was claimed to be the real inventor name behind the founder of Bitcoin.
Q: How do you earn Bitcoins?
There are eight different ways to earn Bitcoin as stated below:
- By mining the Bitcoins.
- By receiving from another sender via digital wallet.
- By playing casino games.
- Accomplishing website tasks.
- As a result of interest payments.
- By getting Bitcoins as a tip.
- As a regular income from a company or organisation.
- By financial trading of the crypto coins.[/su_spoiler]
Q: What is a Crypto miner?
A crypto miner or a Bitcoin miner is a person who generates Bitcoins by verifying and adding them to the blockchain (public ledger). As a result, new cryptocurrencies will be released.
Q: Is there a physical Bitcoin?
No. There is not a physically written form of Bitcoins like Treasury Bonds, Foreign Currencies or Stocks. But Bitcoins can be stored in digital wallet gadgets physically as algorithmic series of numbers.
Q: Are Bitcoin and other crypto-currencies anonymous?
Yes, they are. Due to its cryptographic nature, all of the transactions are being made anonymously and do not include any personal information.
But you have to receive the crypto-money in a digital online wallet account; then you have to prove your identity at that e-wallet website servers.
Q: Who controls the Bitcoin network?
There is no personal control at any steps of the blockchain processes. All of the crypto transactions are processed according to pre-defined algorithms. To cut it short, we can say that Bitcoin owners control the Bitcoin network.
Q: What does Bitcoin Wallet mean?
It is a storage medium for storing your Bitcoins. There are two types of Bitcoin wallets. First one is online digital wallets which are operated through websites on the internet.
The second one is digital wallet gadgets which are as small as even attachable to a key-chain. But you need to own an online wallet account to receive or buy your Bitcoins. Then you may transfer them to your physical wallet gadgets.
Q: Is Bitcoin legal?
Although there are a few countries which declared Bitcoin as an illegal method of payment, most of the globe agree that crypto coins will be the future of all types of payments.
Even some countries like Estonia have yet created their own national crypto money. This is a strong sign that cryptocurrencies will dominate the traditional and costly banking mechanism.
Q: Is there any tax on Bitcoin?
No. The primary advantage of using Bitcoin and altcoins is tax-free.
Due to its decentralised nature controlled by the blockchain network, cryptocurrency transactions cannot be tracked by financial institutions, organisations or government authorities including banks and central banks.
Q: Are there any countries which restrict crypto-coins?
Yes, there are. These are Algeria, Bolivia, Ecuador, Bangladesh, Nepal, Cambodia. They have a common characteristic of being relatively poor IPC (Income Per Capita) when compared to the other rest of the globe.
Also, Canada, Jordan, Iran, Vietnam, Thailand and India ban banking transactions with crypto coins but allow to store and trade them.
Q: Is Crypto Money real money or not?
The simple answer is “Yes”. As crypto money can be converted to any foreign currency type. As you can convert your crypto-currencies to your preferred traditional currency, you may spend it on anywhere and for anything you want.
Q: What does Provably Fair Gambling term mean?
In general, it is profoundly easy for an online casino to cheat you. Because the background of the technological infrastructure is under their control. And they may adjust any of your winnings and payouts.
But when it comes to “Provably Fair Gambling” the story is entirely different. Because all of the game payouts are controlled independently and transparently. So players do not face any manipulation on their winnings.
Q: Which license and regulation should I check before I play at a crypto casino?
Most of the crypto casinos are regulated at Curacao under Antillephone license. So you should be looking for the flag logo of this regulation.
Q: Can I exchange my Bitcoins with other Cryptocoins?
Sure you may. There are online platforms where you can exchange Bitcoin with other crypto coins and old-fashioned currencies. All you have to do is to register with one or more of them and start swapping your cryptocoins.
Q: How can I know the prices of the cryptocurrencies?
There are informative websites on the internet like coinmarketcap.com, coindesk.com and coincodex.com which publish the rates of the crypto-currencies lively. Just visit them to see the live prices of these crypto coins.
Q: Who determines the prices of the crypto money?
Blockchain market itself is the one and only market maker for the prices of cryptocurrencies. Buyers and sellers determine the prices similarly as it is seen in supply and demand mechanisms.
Q: Are there any Minimum Deposit requirements for the crypto coins at the online casinos?
Sure there are some minimum crypto amount requirements to open an account at online casinos. These are the converted amounts from conventional currencies.
Q: What is the maximum amount of withdrawable crypto money from a crypto-friendly casino?
It depends on the policies of each casino. It is generally ranged between 3 BTC to 5 BTC.
Q: Do online casinos offer bonuses to Bitcoin or other crypto money deposits?
Sure. Nearly all of the crypto casinos offer welcome bonuses and reload bonuses to the Bitcoin and altcoin deposits as they provide for traditional currency deposits.
Q: Should I have to enter my personal information while registering at crypto-friendly casinos?
Yes. But you do not have to enter your name and surname while withdrawing your crypto money. So your financial transactions will be processed anonymously.
Q: Are there any country-based restrictions on playing casino games with crypto-money?
Yes. It depends on the crypto casino you prefer. But most of the casinos accept players from all over the world.