1. What are Bitcoins and how do they work?
Bitcoin is a digital currency, which is created and held electronically and accounted for on a public ledger. No single entity controls it, rather it is controlled by a distributed network of nodes (similar to how bittorrent works). Bitcoins are not printed, like dollars or euros – they’re 'mined' by lots of people running computers all around the world, using software that solves mathematical problems.
Here is a one-minute video that will explain it best:
2. How is the value of Bitcoins determined?
The price of a bitcoin is determined by supply and demand. When demand for bitcoins increases, the price increases, and when demand falls, the price falls. There is only a limited number of bitcoins in circulation and new bitcoins are created at a predictable and decreasing rate, which means that demand should rise, given the decreasing number of Bitcoins which can be mined over time.
3. How do you acquire Bitcoins?
There are few ways:
- As payment for goods or services (www.reddit.com/r/Jobs4Bitcoins/)
- Purchase bitcoins at a Bitcoin exchange (www.circle.com)
- Exchange bitcoins with someone near you (www.localbitcoins.com)
- Earn bitcoins through competitive mining (www.ghash.io)
- Win bitcoins in BitCasino.IO promotions (woohoo!)
While it may be possible to find individuals who wish to sell bitcoins in exchange for a credit card or PayPal payment, most exchanges do not allow funding via these payment methods. This is due to cases where someone buys bitcoins with PayPal, and then they reverse their side of the transaction. This is commonly referred to as a chargeback. You can find the places where you can buy/exchange bitcoins. For example, website www.btcxe.com allows you to not only see the current price of bitcoin, but also get the extensive list of exchanges.
4. How do I spend my Bitcoins?
Bitcoins can be used to purchase just about anything you want. You can start by searching the merchant directories below:
- Coinmap - Find bitcoin friendly merchants near you
- BitPay merchant directory - Over 12,000 businesses and charities.
- Gift Cards - Available from Gyft.com and purse.io
- Bitcoin Store ( bitcoinstore.com ) - Electronics & everything else for Bitcoin
Of course, you can also use them for playing your favorite online games. On BitCasino.IO you will find over 250 games to choose from. Live Dealer Games, Casino Slots, Scratch games and different BlackJack games – everything is at your service.
5. What would you say to online gamblers that are nervous to try Bitcoins?
As normally in life, with everything new we tend to be cautious and even a little frightened sometimes. Bitcoin is one of those things, which will change the way we transact financially over the internet;; it offers instant payments, no fees at all and works person to person. There are no banks or third parties in between and all transfers, no matter where in the world,happen in in seconds. All you really have to do is keep it secure like your own cash, wallet, bank account or credit card. https://www.buytrezor.com/ we recommend this device for safe storage of your Bitcoins. If you play enough on Bitcoin.io, we might even send you one in the mail for free!
6. Is there specific processing or gaming software used for casinos accepting Bitcoins?
There are services which offer payment gateways for bitcoins including automatic conversions to euros, dollars and so forth, but if you are only dealing with bitcoin then it is better and more secure to use a core Bitcoind client to send and receive Bitcoins for deposits and withdrawals. This enables us to offer our players instant deposits and withdrawals, which are very important to every one!
7. BitCasino.io is a multi-software platform, are there any plans to integrate additional software.
Yes, we currently offer games from Betsoft, Takisto, Ezugi, Betgames and many others. Recently we one of the biggest fiat game providers Play'n'Go with over 70 new games! We keep innovating and adding new features as we like to lead the innovation in the Bitcoin Casino vertical. Very shortly we will announce an even bigger software integration THAN EVER before...
8. Where are your Live Casino games streaming from?
Our gorgeous dealers are from Costa Rica, Lithuania and Spain. Stay tuned as until the end of 2014 we will be adding a two new studios!
9. Does BitCasino.io have the ability to run tournaments?
Yes, we are planning to open our tournaments with a big bang and offer a never before seen prize pool to all of the participants. The winner will not only get a big pile of bitcoins but an awesome VIP Casino experience and treatment along with it as well.
10. How does your Loyalty Program work and are the higher levels attainable for players?
Our loyalty program is very simple - if you play with us often, then our VIP & Customer Support team will contact you personally and offer you different packages. One can also jump onto our live chat on the website and ask for more info about it. We have different prizes for everyone, starting from usbs, secure Bitcoin wallets, concert tickets and even around the world holiday trips! One of our main goals is to make sure every user feel like a VIP when enjoying our games.
11. What makes BitCasino.io so special in comparison to other casinos?
BitCasino.IO is the first licensed bitcoin operated online casino on the market, founded in 2013. At first, we had only about 50 bitcoin games available. Since then we rapidly expanded and now there are over 250 games including:
- Live Dealer Games – Dice, Lotto 7 out of 42, Lotto 5 out of 36, Wheel of Fortune, Bet on Poker, Baccarat
- Live Dealer Casino – Blackjack, Roulette, Baccarat, Lottery-Keno
- Slot Games – 250+ slots introduced by leading operators including: Betsoft Gaming, Betgames, Takisto, Play'n'Go.
We have heaps of ideas and improvements we want to implement and hence our main priority is to spend a lot of time, and resources to ensure our players get a safe, entertaining and regulated gaming environment.
12. Are there any special promotions planned for the near future?
Yes, sure! Usually we run 1-2 BIG promotions per month and glad to make exclusive events for our partners. For example in September we raffled 1000 mili-bitcoins for players exclusively among LatestCasinoBonuses players. In November we have a Massive Lottery where everyone has a chance to win a share of the 7250milli-bitcoins prizepool ($2500). And the best part is that only thing you need to do is write your five lucky numbers from 1-36 and you already participating! Until the end of the year, we plan to have more than 700 games in total, so we have a plenty of place for new promotions. Stay tuned and join BitCasino.IO where you can play casino games without limits.
P.S. To thank you for reading this interview we invite you to get a 100% bonus on Bitcasino.IO. Simply sign up using LCB link, put some bitcoins to your account and open our LiveChat support >>> we will DOUBLE UP your deposit!