Malaysia Bitcoin Casino Guide
It has made it possible for players from countries that restrict online gambling to play online and also reduce the transaction costs incurred by operators in processing payment. So, what exactly is Bitcoin, and how is it used in the online gambling realm? Bitcoin is a decentralized digital currency that was pioneered in 2008 by a person(s) by the alias Satoshi Nakamoto. It first went live on 3rd January 2009, and since then, the currency has been growing by leaps and bounds to become an iconic currency in the online space. A special attribute about Bitcoin is the fact that its users have the actual ownership of the currency unlike the central banks printed money, which is under the influence of the government. Its security and anonymity have made the currency admirable by many players since the currency is unassailable, and transactions aren’t linked to a person. In Malaysia, Bitcoin is embraced, and players have been using the currency to play online games. This review delves deeper into the topic of Bitcoin gambling in the Malaysian context and provides readers with all the necessary information pertaining the Bitcoin gambling online.
Playing online with Bitcoin is similar to playing at regular online casinos. However, there is a notable difference in the swiftness of registration with most Bitcoin casinos. Unlike the regular online casinos, Bitcoin casinos have a fast registration process; some even don’t require registration – only email address. Another notable difference is the provably fair technology, which is most commonly used with Bitcoin casinos. Provably fair is a cryptographic algorithm that players are allowed to verify that the game was random and fair after every spin, shuffle, or roll of dice. With the provably fair technology, all events are recorded in a public ledger and this result in accountability.
To deposit Bitcoin to a casino that accepts cryptocurrency is similar to making an e-Wallet payment. However, there is a difference in the prerequisites of the wallet holding your Bitcoin. You need to have a Bitcoin wallet that will store your coins in an address. The Bitcoin could be in values of BTC or mBTC, which are the common denominations that most online gambling sites accept.
To proceed with depositing, you need to log in to your casino account and head to the payment section. Select Bitcoin and you can either opt to match the QR against your camera or pay by sending your coins to the address provided by the casino. If you opt to send to the address, you need to be careful since cryptocurrency transactions are irreversible. After sending the payment, your Bitcoin will be updated in your account in less than 15 minutes.