Question 1

What is Bitcoin?

Accepted Answer

Bitcoin is a digital currency that uses cryptography for security and is decentralized, meaning that it is not controlled by any government or financial institution. Transactions with Bitcoin are recorded on an immutable public ledger called the blockchain, which helps to prevent fraud and ensure the integrity of the currency.

Question 2

What is a crypto wallet?

Accepted Answer

A cryptocurrency wallet is a digital wallet that is used to store, send, and receive cryptocurrencies like Bitcoin. In the case of online casinos, a crypto wallet is used to store any Bitcoin or other cryptocurrencies that a user deposits in their casino account, as well as any winnings they may earn while playing games on the platform.

Question 3

What is an immutable ledger?

Accepted Answer

An immutable ledger is a record-keeping system in which data cannot be altered retroactively. In other words, once data has been recorded on an immutable ledger, it cannot be changed or removed. This makes immutable ledgers useful for tracking transactions and other important data, as they provide a permanent and tamper-proof record of events. Immutable ledgers are used in a variety of different contexts, including cryptocurrencies and supply chain management.

Question 4

What is the difference between a Bitcoin Casino and a Crypto Casino?

Accepted Answer

There is no real difference between the two as they both essentially use Cryptography. "Crypto" is just a shortened version of the word Cryptography.  However, there has started to become a distinction between the two words, there are a lot of different tokens and blockchains and they have either been hacked or are run by scammers, very few are successful.  These are often referred to as "crypto" whilst Bitcoin is seen as its own separate digital asset.  We highly recommend holding Bitcoin rather than any other cryptocurrency as they potentially could be scams.  Some casinos will allow you to use stablecoins such as USDT (Tether) which reflect the value of a US dollar which makes the bonuses easier to read than using a Bitcoin denomination.