What is Bitcoin
Bitcoin is becoming a staple in the gambling and gaming community. Together with the Bitcoin LoL betting and esports betting industry, a vast catalog of online betting sites now accept it as a mode of payment —- some even made their websites exclusive to it. But what is Bitcoin and where did it come from?
The still unknown Satoshi Nakamoto introduced Bitcoin to the public in January 2009. It’s the first ever digital currency and decentralized mode of payment online. All Bitcoin transactions are not handled by banks, middlemen, and governments. It’s solely peer-to-peer. This is one distinguishing characteristic of Bitcoin that sets it apart from conventional currencies.
You can learn how to buy bitcoins and how to sell bitcoins just by carefully looking for the best exchange platform or special ATMs to do so. Of course, the guides you find here will prove to be useful as well. Meanwhile, you must also learn how to store Bitcoins by finding the appropriate Bitcoin Wallet for you that could help you manage, send, and receive Bitcoins.
WHY SHOULD YOU GET ONE?
To learn everything about the question that hunts you the most: What is Bitcoin?, you must first know what’s in it for you.
Despite having no central authority, Bitcoin is safer than any type of currency. You don’t need to worry about theft or anything similar because transactions are processed in a shared ledger called the blockchain. It uses Cryptography to keep your private data and verify transactions whenever you store or transmit bitcoins to another person.
Although it’s only peer-to-peer and requires no banks to help you with the processing, Bitcoin is faster than any type of transaction. You can send and receive bitcoins anywhere in the world as long as you have access to the internet.
In the face of this economy, Bitcoin is cheaper than any mode of payment. Bitcoin enforces relatively low transaction fees, the charges will go to the medium you want to buy and sell Bitcoins and will not depend on the amount that would be transferred or the location of the receiver.
Notwithstanding the fact that it’s virtual, Bitcoin can keep you anonymous. All Bitcoin transactions are stored publicly and permanently on the blockchain, but it doesn’t require anyone to give away their private information. The process makes use of private keys and addresses stored in your Bitcoin wallet, instead. Hence, there’s a need for users of the cryptocurrency to learn how to store bitcoins for proper safekeeping.
READY TO BET?
Online betting sites have existed for a long time, and esports betting is the most popular today. You may ask, “then what is the most popular esports?”. It’s the game that was released the same year as Bitcoin: League of Legends (LoL).
Now you know what is Bitcoin and the uses of Bitcoin, you can fully enjoy LoL betting. We offer a lot of betting opportunities for every minor and major LoL tournament and even Bitcoin betting exchange options, so don’t miss the chance to give your favorite teams your vote of confidence!