Qué es Bitcoin | LokiCasino Online

Bitcoin is an electronic money system, which operates on peer-to-peer approach, just like familiar torrents. This is the main difference from other payment systems. Bitcoin has no control center, the system operates autonomously and complies with open algorithms, while information about the transaction is stored in encrypted form with all the participants in the system. Due to its unique properties, Bitcoin opens up new horizons of opportunities that no payment system has made available before. You can buy whatever you want for Bitcoin online, just like for dollars or euros, for example, and it is also traded on the stock exchanges.

Who invented Bitcoin?

The developer of the program names himself Satoshi Nakamoto, he introduced an electronic payment system based on mathematical calculations. The idea was to make a coin exchange without any central authority, in electronic form, more or less instantaneously, with minimal costs.

Can you mine a billion Bitcoins?

You cannot. There is a limit in the Bitcoin code, the largest number of Bitcoins that can be mined is 21 million. Despite this, Bitcoin can be divided indefinitely into smaller parts, as it's a digital currency! 1 Satoshi is 0.00000001 btc (named after the creator).

Where do Bitcoins come from?

There is no single production plant for Bitcoin production. Issue of Bitcoins is only possible in a digital form, and anyone can start mining Bitcoins at any time. Bitcoin mining occurs through the use of computational power of a computer in a distributed network. In the case of Bitcoin transfers, the transactions are processed by the same network, thus turning Bitcoin into an independent digital Bitcoin payment system.

Any person in the world can run the Bitcoin mining script on their computer. The source code of the script is published in the open form, and everyone can see how it works.

Bitcoin advantages

Easy to use

It will take you no more than 5 minutes to create a Bitcoin wallet and immediately start using it.

Zero or low fees

Transactions in Bitcoin are completely free in most cases.

Reliability

The system is very reliable. After all, hundreds of participants support its work across the world.

Decentralization

There is no central body to control the network; the network is distributed across all the participants; each computer mining Bitcoin is a participant in that system. This means that no central authority is able to dictate the rules to Bitcoin owners. No one can block your Bitcoin account or forbid to do anything with your money like in other systems.

Anonymity

Bitcoin is completely anonymous and completely transparent at the same time. You can create an infinite number of Bitcoin addresses without a tie to the name, address or any other information. You will not be required to submit any personal details (name, passport, etc.). However… Bitcoin stores the records of all transactions that have ever taken place, which is called a blockchain. Blockchain knows everything. Therefore, if you have a publicly used Bitcoin address, anyone can see how many Bitcoins you have on your account; if you have not informed that this is your address, no one will ever know that it belongs to you. One Bitcoin address is usually used for a single transaction to ensure complete anonymity.

How to start using Bitcoin?

Bitcoin wallet

You need to create your Bitcoin wallet to get started. There are many wallets out there, but all of them can be broken down into four main categories: PC, mobile, online and hardware Bitcoin wallets.

Some of the most popular Bitcoin wallets are Blockchain, BitGo, CoinBase, GreenAddress, Xapo. We can also recommend using a wallet of our casino partner, a payment system Cubits.

How to buy Bitcoin?

Once you have created a Bitcoin wallet, you need to buy Bitcoins. This can be done on one of the Bitcoin exchanges, information about which you will easily find online as well.

There are also automatic online exchanges. Bitcoin is a very liquid commodity, you will never have problems with its purchase or sale.

How to spend Bitcoins?

The number of companies around the world that accept Bitcoins constantly grows. You can buy anything you like, just like for any other currency. There are many websites that have collected information about the sellers of the goods and the companies providing a variety of services for Bitcoins.

Casino and Bitcoins

For the convenience of the Bitcoin owners, Loki Casino supports transactions in Bitcoins via modern, fast and reliable Bitcoin payment system Cubits.

How to make a deposit?

Very easy. After clicking Deposit button, select the payment method – Bitcoin Cubits, enter the deposit amount in the window that opens and complete the transfer by clicking the button. That’s it, you can start gambling.

You can also make a deposit from your Bitcoin wallet in EURO, the system will automatically convert your Bitcoins.

How to withdraw funds?

Order the payment simply by specifying the address of your Cubits Bitcoin wallet. The funds will be credited to your account almost instantly!