Bitcoin Explained Simply for Dummies & Beginners

Bitcoin is a virtual currency and has no tangible value that you can hide under the bed and use in difficult times. If I can buy everything using my credit card then why do I need bitcoins? People buy bitcoins as an investment vehicle. Where do I store Bitcoins? Bitcoins may also be used to stay anonymous when paying for services and products. There may be a day when bitcoin could go down 30% in just a matter of hours. As a matter of fact, 4% of people own 96% of bitcoins. Some people believe that the value of bitcoins will grow over time once more and more people and businesses start using them. Today, the price of bitcoins has reached over $16,500 per coin from $500 per coin within the past 12 months with the market cap more than $270 billion. More and more hackers will target bitcoins as the value grows. Most people buying bitcoins for investment purposes are assuming the value of bitcoin will continue to grow. Even though the value of bitcoin is going higher, it doesn’t mean it will not go down. If your winnings exceed $160 the sticky excess winnings will be forfeited and removed from your casino account.

I was able to redeem RS15 and won almost $250 but had to playthrough the rollover which left me with less than $160. The max cashout for TS37POKIES is $160. The rollover is 20x on deposit and bonus and there is no max cashout limit. The minimum withdrawal amount that can be requested is $100 and the max withdrawal amount is $2,500. The minimum deposit for all deposit methods is $25. To enter a no deposit bonus code tap on Deposit, then Instant Coupon. To redeeem a bonus code with your deposit, first select your preferred deposit method then you’ll be presented with a screen with a recommended bonus or an option to enter your own bonus code. On the third screen, you’ll provide your name and birth date. It has a rollover of 30x on deposit and bonus and has a minimum deposit amount of $25. BTCMATCH is redeemable once per week with your $25 minimum deposit. The next no deposit bonus is TENNER, a $10 free chip valid for play only on slots, keno and Poker Slots. Again, only valid for play on mobile devices.

Mobile casino play is seeing unprecedented popularity recently and Red Stag Casino is one of the first that we’ve seen that rewards players for playing using their phone. Bonuses at Red Stag Casino come with wagering requirements that must be fulfilled before your winnings can be withdrawn. Note that no deposit bonuses cannot be redeemed consecutively; a deposit must be made before the next free bonus can be redeemed. You can buy bitcoins using your local currency and start buying and selling bitcoins like any stock trade. Bitcoins are stored in your online accounts like your bank account, called a “Digital Wallet”. I like the idea of bonuses for players like me that pass the time pulling spins on my commute. Compared to wire transfer and bank check payouts which take time and usually come with expensive processing fees, Bitcoin makes the most sense for you to cash out your winnings. If you’re still interested in getting paid by check or bank wire transfer note that the transaction fees were not readily available on the Red Stag Casino site nor were we able to reach a support agent to obtain this info.

Digital wallets are stored in the cloud or on a server and are used to buy and sell bitcoins, and transfer bitcoins from one account (address) to other accounts as a form of a payment or transaction. When you buy bitcoins, you get a unique digital address that becomes your identity, and that address is used for every transaction. Why do people buy Bitcoins? Today, many tech-savvy online retailers accept bitcoins. Bitcoins are not accepted everywhere. Some people are frustrated with current banks and financial institutions. But what amazes me is how few people really understand what Bitcoin is all about. Fortunately, Bitcoin is available as a payout method at Red Stag Casino. We never understand when casinos accept Bitcoin for casino deposits but don’t pay out using the same. Bitcoin is owned by users of bitcoin. Bitcoin is free, fast, convenient and secure. So, What Exactly is Bitcoin? Bitcoin is a digital currency also known as a cryptocurrency or virtual currency, built on top of the blockchain technology. The blockchain is the reason why Bitcoin is so popular. What is the risk in Bitcoin?

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