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Bitcoin vs Ethereum: Which One is Better for Online Gaming?

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Online gambling starts gaining more and more popularity among virtual players since it offers endless opportunities to enjoy a supreme casino experience without actually leaving your home. Since interactive casinos are becoming a huge industry, they need to be constantly abreast of every new technology that can improve players’ web gambling.

Thanks to the constant innovations that appear on the iGaming scene, it was no surprise that Bitcoin has become a payment method which is accepted by numerous online casinos. The concept of Bitcoin was introduced to the public in 2008 and ever since it gained a massive popularity, it started to be used as a deposit and withdrawal solution in various web-based casinos. Such casinos are often listed on big portals like Casino Games Pro.

Although Bitcoin was proclaimed the first cryptocurrency used for managing funds for online players, there have been several interactive casinos that started accepting payments via Ethereum. This fairly new cryptocurrency called Ether has sparked debates about which of the two options is better to be used for online gaming.

Differences Between Bitcoin and Ethereum

Bitcoin introduced a brand new way for online players to fund their gaming balances and withdraw their winnings. Bitcoin virtual casinos offer players the opportunity to create an account without having to provide an e-mail address or another piece of information that will serve as an identity verification. This way players do not have to go through the hassle of providing any copies of scanned utility bills or ID photos.

It is no wonder that plenty of virtual casinos started accepting the popular cryptocurrency as a way of managing players’ gaming funds. Since many online players do not feel completely safe when they are asked to provide personal information, Bitcoin casinos have gained quite the popularity as they manage to offer their members a more private gambling experience.

Although Bitcoin is the first cryptocurrency which was accepted in various online casinos, the launching of Ethereum had many virtual gamblers wondering if this payment method is not the future of online gaming. Thanks to the smart contracts that Ethereum has introduced to the public, users can transfer their funds from one wallet to another via a series of programmes which will ultimately negate the need of using third-party companies for the transfer.

In addition to the aforementioned function, smart contracts also allow decentralized applications (DApps) which provide players with plenty of advantages that can easily overshadow the current top cryptocurrency Bitcoin.

Even though the two services are compared with each other, there is a difference between the programming languages they use. While Ethereum uses Turning complete, Bitcoin utilizes stack-based language. There is also a differentiation between the purposes of the two companies. Bitcoin can be considered as an alternative to real money, while Ethereum uses its own currency as a way to help connect contracts and applications.

Advantages and Disadvantages of Bitcoin and Ethereum

As mentioned earlier, Bitcoin has become pretty popular in the recent years. This is why the cryptocurrency started appearing as a payment solution in various online casinos. Thanks to the fact that it has been commonly used by many virtual players, today, there are a handful of web-based casinos that will allow you to manage your gaming balance with the help of the cryptocurrency. If you want to explore a Bitcoin online casino, chances are you will easily find one that is both reliable and fun to play at.

Another advantage of opening an account at a Bitcoin virtual casino is the fact that you will be asked to share very little information. This means that you do not have to worry about providing details that you do not feel comfortable revealing to the interactive casino operator.

Since no country has recognized Bitcoin as a real-money currency this means that it is not subjected to any taxation. This way both withdrawals and deposits via this payment method are very inexpensive since casino patrons do not need to pay any fees to banking institutions or third-party services. However, the UK Gambling Commission does not forbid the usage of digital currencies.

The thing which Bitcoin is lacking, however, is the smart contracts function. Thanks to this feature the winning bets of online players are directly transferred to a smart contract and there is no need for a third-party service for the transaction of the funds. Using Ethereum while playing online is also very cost-effective which is a great advantage for those who decide to utilize it as a payment option.

Even though Ethereum might be starting to gain quite the popularity among virtual players, buying Bitcoins is still easier than buying Ethers. In order to acquire some Ethers, you will first need to buy Bitcoins and exchange the cryptocurrencies. Another disadvantage is the fact that Ethereum is a fairly new way to manage funds in online casinos. This is why Bitcoin web-based casinos are much easier to be found than the ones that accept payments via the Ether cryptocurrency.

Both Bitcoin and Ethereum have their positive and negative sides and virtual players should not overlook the advantages and disadvantages when they choose between the most popular cryptocurrency at the moment and the one that many have predicted as the future of online gaming.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Basic Guide on How to Spend Bitcoin and Other Cryptocurrencies

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Bitcoin and other cryptocurrencies
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In recent years, Bitcoin and other cryptocurrencies have entered more into the mainstream. Most people walking down the street have at least heard of Bitcoin. While a lot of people got involved in the buying and selling of cryptocurrencies to try and make a quick buck, most people who are enthusiastic about the world of blockchain are in it for the long haul. 

These are usually the people who are going to be more likely to actually use their Bitcoin and other cryptocurrencies as a payment tool and not just as a storage of wealth or a trading tool. This guide looks at a few different ways in which you can use your Bitcoin in spending capacity. 

Crypto Debit Cards

Perhaps the easiest way for you to spend your cryptocurrency is by linking up your holdings to a debit card. 

These days, many of the leading card providers such as MasterCard and Visa have these types of crypto-linking debit cards. These cards can be used just like you would a normal debit card that is linked to your fiat currency bank account. 

Naturally, the most popular type of crypto debit card is going to be for Bitcoin, but there are other cryptocurrencies catered for also. 

Prepaid Cards

There…

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Hybrid Bitcoin Casinos or Bitcoin-Only Casinos – Which Are Better?

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The rise of cryptocurrencies over recent years has had an impact on several industries. Gambling is one such industry, and many of the best online casinos offer Bitcoin as a payment method

Some of these casinos work exclusively with cryptocurrencies, while some are more traditional gambling sites that simply have integrated crypto on top of their fiat options.

This post will take a look at the advantages of joining a Bitcoin-exclusive casino on the web versus picking a hybrid one.

Advantages of Hybrid Bitcoin Casinos

Let’s start with the hybrid Bitcoin casinos. Usually, those are traditional gambling platforms that have been around for a long period of time. 

They offer classic payment methods such as Visa, PayPal, Skrill, and similar. At some point, they decided to add Bitcoin and potentially other cryptocurrencies to their portfolio. 

If you decide to join an online casino of this type, you will be able to enjoy the following benefits.

Lower Risks

Such online casinos often have a strong reputation and are licensed by respected gambling commissions such as the UK Gambling Commission, the Malta Gaming Authority, and similar regulators.

They are known for protecting the customers and monitoring all actions…

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Is Bex500 an alternative to BitMEX?

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An all around review of Bex500

Bex500 is a young but rapid-growing exchange, less adversarial than BitMEX, but with higher leverage than Binance, Bex500 has enough strings to attract many crypto traders. 

Those dissatisfied with the old exchange, may find Bex500 exchange with a stable system with no manipulation or “overload”, pleasant UX, user-friendly tool kits, and around-clock customer service.

Bex500 says they are making crypto margin trading “easier” and giving you a better return. 

Can they really achieve that? We conduct a comprehensive review as below to see if it is a trustworthy exchange

Question 1. What features does Bex500 have?

Bex500 offers perpetual BTC futures as well as three other cryptos including ETH, XRP and LTC, all paired against USDT. You may find Bex500 doing a good job aggregating most important features traders need for a robust trading experience with better return.

-A fair trade with no overload

Many traders are familiar with “overload” problem, which disables placing orders in peak trading times. It is suspected to be insider manipulations by exchanges which can cost users entire portfolios.

Bex500, with its unmatched TPS (claimed to be over 10,000 orders per second), ensures that the trading…

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