How Bitcoin Works

Bitcoin is a very easy to use digital currency, how it works is that you will first need to get something known as a Bitcoin Wallet, and it will be in the wallet that resides either on your computer’s hard drive or on your cell phone and once you own some you can then move them around instantly via you computer or cell phone.

The way in which you acquire Bitcoins is in one of two different ways, by far and away the easiest way is for you to buy them at a Bitcoin Exchange, however be aware that the value of each Bitcoin is going to constantly be fluctuating based on demand.

There is another way that you can get Bitcoin and that is by mining for them, however that is one of the hardest ways possible and as such if you simply want to buy Bitcoin as an investment or to allow you to buy things online or even gamble then you will be best advised to purchase them from a Bitcoin Exchange.

Probably the most interesting aspects of using Bitcoin is that it allows you to anonymously move money around the web, and that has led to many gambling companies for example offering that digital currency as a deposit and withdrawal option to customers of their sites who may not be able to use any other form of deposit or withdrawal options.

It is however a safe way of storing cash on your computer or cell phone, and some people have made huge amount of cash by buying Bitcoins when its value is low and then holding onto them until the value rises against their own home currency and then cashing them in.


There are bound to be lots of questions that you want to know the answers to in regards to using Bitcoin, and with that in mind please do ensure you fully know how Bitcoin works before you start to use that digital currency to ensure you know the pros and cons of doing so.

One thing that you are of course going to need to have for you to be able to move your Bitcoin around the web is a Bitcoin Wallet, however there are quite a number of different Bitcoin Wallets you can pick and choose from, so spend some time reaching which is going to be the best one for you to use.

Frequently Asked Questions

You are bound to want to know the answers to quite a number of questions relating to how Bitcoin works, and if so then in this following section we shall be answering some of the most commonly asked questions on that very topic.

Be aware that being such a popular digital currency you are always going to be able to gamble online or buy anything you could ever wish to buy online using Bitcoin as there are no shortages of sites that accept it as one of their payment options, but always shop around so you get the lowest possible prices or the best possible bonuses!

Can I Withdraw Gambling Winnings Back to a Bitcoin Wallet?

You will be able to withdraw any winnings you make when gambling online or on a mobile phone by many different banking options, however you will of course always have the option of withdrawing you winnings back to your Bitcoin Wallet, which is what a great many people do to keep their winnings away from prying eyes!

How Old Do I Have to Be to Gamble in Canada?

The most common minimum age to legally gamble in Canada is 19 however be are that in some Canadian Provinces the minimum legal age to gamble it 18, and for reference those provinces are Alberta, Manitoba and Quebec, so always carry identification on you if you are lucky enough to look under the legal age to gamble or you may be refused entry into a casino!

Can I Use Bitcoin at all Gambling Websites?

Plenty of gambling sites have chosen to make available to their players via their respective banking interface Bitcoin as one of their available deposit and withdrawal options, and as such you are going to find plenty of gambling sites that will use that digital currency.

However, what you should also do is to find out How Gambling Websites Make Money as that way you will get an idea of which are by far and away the very best things to gamble on to lower your risk of losing and also have more chances of winning too!

What Casino Games Can I Play When Depositing by Bitcoin?

You are going to find that every single type and category of casino game you can play in a land based brick and mortar casino will be on offer an available to you if and when you do decide to make the switch to playing them online. I you do like playing for longer periods of time then consider making a deposit using Bitcoin at one of the many casino sites that offer you all manner of bonus offers and promotional deals when making a deposit into your casino site account!

What Other Things Can Bitcoin Users Gamble On?

It is not only going to be casino type game you can gamble on if you have a Bitcoin Wallet account of you will find that there are lots of bingo sites available and there are also more than enough online and mobile poker sites you can also play at. Plus, you will find a plethora of different sport betting sites available to you too so you can bet on absolutely any up and coming sporting event that takes your fancy!