Cryptocurrency Gambling: All the Terms You Need to Know
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There are many terms associated with Bitcoin gambling. Top bitcoin casinos provide guides to explain the terminology. We have put together a guide to help you get started.
The casino offers a guide to terms related to cryptocurrencies. Altcoin is a new cryptocurrency. Block Time is the length of time it takes to process and record a transaction to the blockchain. Decentralised is not regulated or attached to any major banking authority. Exchange is venue where you can purchase cryptocurrencies with FIAT options, sell or trade them. Fork is cryptocurrency that was built using the same mechanics and code as one before it. Miner is someone who processes cryptocurrency transactions in exchange for a small fee. Smart Contract is transaction between you and the casino without using a third party or middleman.
Address is the unique identification number of the wallet where your cryptocurrency is stored. Wallet is a piece of software, hardware or a web location where cryptocurrencies are stored and address is where you must make transactions to when depositing. Decentralised is when a cryptocurrency isn't regulated or attached to any major banking authority. Exchange is venue where people can purchase cryptocurrencies with FIAT options, sell or trade them. Fork is cryptocurrency that was built using the same mechanics and code as one which came before it, before branching off in another direction. Miner is someone who processes cryptocurrency transactions in exchange for a small fee. Smart Contract is an agreement between you and the casino without using a third party or middleman.
Cryptocurrency gambling terms are useful for both the casino and cryptocurrency users. BTC-Friendly is a casino that accepts Bitcoins. Coins Paid is payment provider that deals with cryptocurrencies. Faucet is type of casino bonus where users can pocket small sums of cryptocurrency for logging in, playing or depositing at a casinos. Operator is the company that runs the online casino. RNG is code that guarantees random outcomes on every spin of the slots or every hand dealt. Rollover requirements tell the player how many times they must wager their bonus before they can withdraw. Provably Fair is certificate that shows the games have been checked, audited, verified, and regulated as fair.
BTC-Friendly is a casino that accepts Bitcoins. Coins Paid is payment provider that deals with cryptocurrencies. Faucet is type of casino bonus where users can pocket small sums of cryptocurrency for logging in, playing or depositing at a casinos. Operator is the company that runs the online casino. RNG is code that guarantees random outcomes on every spin of the slots or every hand dealt. Playthrough rate is how many times a player must wager before they can withdraw. Provably Fair is certificate that the casino’s games have been checked, audited, verified, and regulated as fair.
There is more to learning the vocabulary than the terms above. Check out gambling guides at many top sites like Bitcoin Casino before you play.
