It is not too long after the introduction of crypto-currency, and the number of coins in the market continues to increase. Bitcoin Class and Bitcoin cash are the most commonly used cryptocurrencies in online betting sites with bitcoin cash taking a majority of the transactions. It goes without question that bitcoin classic is the most dominant cryptocurrency currently, but Bitcoin Cash is most preferred as it has faster processing speeds and comes with lower transaction fees. The acceptance of bitcoin for transactions is growing, and more casinos are now accepting bitcoin payments in a bit to reduce the customer’s transaction costs. This article answers some of the fundamental questions about using bitcoin cash in gambling sites.
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2 New casinos supporting Bitcoin Cash
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The primary reason why Bitcoin cash is useful is its scalability. BCH has a high block size that enables it to make more transactions in a second. The cryptocurrency also gives users additional benefits such as features such as security and anonymity for their transactions.
How quick is it to deposit?
Bitcoin cash is among the fastest Cryptocurrencies in the world. Depositing with BCH is faster than using BTC, meaning you can settle any transaction within minutes no matter your location.
Is Bitcoin cash secure as a payment method?
Bitcoins transactions are secure because they are irreversible and are always recorded in the Bitcoin chain. Others can see the transactions, but they cannot see your details. A gambling site cannot steal your deposits and deny that you made them because you can trace the transaction through the public ledger and prove them wrong.
Can one use the Bitcoin payment method anonymously on new casinos?
Unlike other types of transactions, Bitcoin payment methods do require the user to share personal information such as banking information or credit card numbers. The fact that you don’t have to give personal details when joining a BHC gambling site makes it anonymous.
Is there an age limit for Bitcoin gambling?
Just like other sites, the minimum age for gambling sites in Europe is 18 years.
Why is my Bitcoin cash payment rejected?
Wrong address: Bitcoin transactions sent to the incorrect address are rejected if the string character that the sender entered does not meet the criteria of a Bitcoin address. No money: You cannot make a transaction if your e-wallet is empty or the balance is below the required amount plus transaction fee. Wrong CVV: A dealer always needs the CVV number to prevent card fraud. A wrong CVV cannot work because it is interlinked with the card number, meaning every card number has its CVV. Blocked: A blocked E-wallet cannot make any transaction. Unusual transactions: A transaction may get rejected if it does not meet some of the requirements, such as a valid address.
What is the difference between Bitcoin and e-wallets?
One of the differences between bitcoin and other e-wallets is that digital currencies are centralized and special entities control the transactions. Transactions in other e-wallets require authorization by the regulating authority but cryptocurrency. On the other hand, id decentralized. Users authorize all bitcoin transactions, and there is no regulating authority control over transactions. Cryptocurrency also provides more transparency than the other e-wallet. One can easily trace all the transfers to a specific wallet if they have its address. The other e-wallets are private and confidential, making it impossible to check the user’s transactions.
Is the price similar to BTC for Bitcoin Cash?
Cryptocurrencies gain value from how much they are used and their demand. BTC has a higher value, given that it has been around for a longer time than BCH. Being around for a longer time means that it has the highest number of users and a higher value.
BCH transaction fees
BCH has a cheaper transaction fee of $ 0.20 compared to BTC that has a transaction fee of around $1 per transaction.
Main pros with BCH
Speed: BCH transactions are faster than BTC because of the high block size that enables it to make more transactions in a second. Cost-Effective: BCH has a lower transaction cost so that users can have higher profits from their bets. Other transaction methods, such as bank transfers and e-wallets, consume about 10% of bettors’ earnings. Anonymity: Cryptocurrencies give users anonymity as they don’t have to provide their personal information when using Bitcoin for a transaction.
Cons of BCH
Lack of price stability: BCH and other Cryptocurrencies can drop their value within seconds. Your betting profits can lose value seconds after withdrawing. Unfamiliarity: Using Cryptocurrency require basic computer skills, which can be challenging for some individuals. Not widely accepted as other currencies: Unlike BTC that is available in most of the online gambling sites, BCH is only acceptable in a few of them.
How are BCH payments made?
Payments for Cryptocurrencies are similar to other types of payments. Players should, however, make sure that they input the correct Bitcoin e-wallet address to avoid losing their money. Bitcoin transactions are not reversible unless if the receiver sends the money back.
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NetEnt Release Games with Flexible RTP Monday, 30 March 2020 21:20 The Swedish giant NetEnt today revealed they will offer 6 of their highly popular slots will come with flexible RTP. Initially, the new strategies will be tested on Reel Rush, Starburst, Butterfly Stat, Twin Spin, Guns Nâ Roses and Fruit Shop. Soon, individual new casinos online are able to set their own RTP adjustments to various slots. We at New Casinos Online are negative to this new measure by NetEnt and expect this to give them fewer customers and lower trust over time. For a list of the best new Netent casinos, go here.