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CRYPTO CURRENCIES FAQ
New to Bitcoin and altcoins? Read the King’s Guide and get to know the rising digital currencies. Have fun and profit Citizens!
Top 3 questions
What is Bitcoin?
Bitcoin is a form of digital currency, created and transacted electronically. As a digital currency, Bitcoin does not physically exist. You can never have Bitcoin paper banknotes or metal coins in your wallet (even though it would be cool). Bitcoin is actually numeric codes secured by layers of cryptography and stored on your computer.
Why use Bitcoins?
Because it's independent, secure, simple/private, fast, uncostly.
Independent. Bitcoin is not controlled by any government, bank or any other financial intermediary. All of the above have no way to interrupt user transactions, freeze Bitcoin accounts etc. The system is purely peer-to-peer and Bitcoin value cannot be forcibly changed by a political action.
Secure. Bitcoin transactions are secured by military grade cryptography. All of your transactions are processed safely and securely with NSA-designed cryptographic SHA-256 protocol. Basically, the technology required to hack the Bitcoin network does not exist.
Simple and private. Transferring Bitcoins to another part of the world requires only an Internet connection and a wallet application. By contrast, traditional bank transfers require excessive documentation and bureaucracy.
Furthermore, the Bitcoin network does not store or require any of your personal data. You are in full control of your transactions. Bitcoin is the definition of privacy, you just cannot get more private than that.
Fast. Sending Bitcoins across continents is as easy as sending them across the street. There are no banks to make you wait for “three business days”. Bitcoin's structure and design makes the previously unimaginable possible: transactions are instantly completed.
Cheap. With the use of cryptography, secure payments are possible without the need to pay an intermediary financial institution. Bitcoin offers the ability to store money and transfer it instantly, anywhere, at near-zero cost.
So no extra fees for making an international transfer, nor limitations on the minimum or maximum amount you can send. This is the power of Bitcoin.
How to get Bitcoins?
Get a Bitcoin wallet.You can have a Bitcoin wallet on your mobile or your computer. (Choose Your Wallet) Different wallets offer different features depending on users' needs, but their purpose is the same: they enable you to receive, store and send Bitcoins. King Billy Casino recommends the Cubits Wallet, which has Buy/Sell features in over seventeen different currencies built into its interface.
Start buying Bitcoins. There are several ways you can buy Bitcoins. However, the most common one is Bitcoin Exchange - a place to buy Bitcoins in exchange for other currencies.
Shopping time. Today, there is an increasing number of services and merchants accepting Bitcoin all over the world which is literally growing larger as you are reading this. Many e-commerce sites offer Bitcoin as an option to pay for goods. When you use Bitcoin online, you will be redirected to a pay interface where you will receive a Bitcoin address to send your Bitcoins to - fast and securely.
How to play with Bitcoins?
The process is the same as for any other currency. You should add Bitcoins (BTC) as one of the depositing options and/or currency. Then, by using your Bitcoin wallet, top up your casino account balance. You can enjoy games the same way you do as when you play with any other known currency, like $, €, etc.
How to play with EUR depositing Bitcoins?
Just use the Cubits payment system to convert your bitcoins to euros and top up your EUR wallet. Using EUR, you can play more games that are not available for BTC.
Withdrawing your funds, you can convert them back to bitcoins.
How to deposit Bitcoins?
The minimum deposit amount is 0.0003 BTC. In order to deposit BTC funds into your Casino Account at King Billy Casino, sign in to your account, click on the DEPOSIT button and select the Bitcoin payment method. Follow further instructions to proceed. You will be asked to send Bitcoins to the address shown on the cashier page or scan the QR code presented on the same page.
What games can be played with Bitcoins?
There are game providers that do not support the Bitcoin currency, such as Netent, NYX, GameArt or a few of Amatic games. Nevertheless, you are always welcome to play a huge number of “bitcoin friendly” games in our casino among slots, jackpots, table games and many others.
Bitcoin payments are irreversible.
Any transaction issued with Bitcoin cannot be reversed. It can only be refunded by the person receiving the funds. Bitcoin can detect typos and usually won't let you send money to an invalid address by mistake.