Bitcoin Industry

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As the world becomes innovative, new trends are immersing. Even the industry involving money is creating new ways for people to pay their commodities. The best proof of this innovation is the bitcoin or BTC, which is the new digital currency.

This digital currency is said to be developed and started by a Japanese named Satoshi Nakamoto. According to sources, experts have not confirmed yet if Nakamoto is a real person or a group of persons because Nakamoto is just a screen name. This is the beauty of bitcoins, users can stay anonymous while spending this digital currency.

By 2013, the value of bitcoins circulating in the market is estimated to be $700 million. This value shows that the digital currency has a huge number of supporters. People are patronizing bitcoins because of its implemented security over money transaction. In order to transfer certain amount of money, the user needs a bitcoin address. The address is a combination of letters and numbers ranging from 27 to 34 characters. One can generate address free of charge.

Bitcoins can be used to buy items online, or even dine in a restaurant. This digital currency can also be used in gambling sites. In fact, some casinos prefer bitcoins over the real money. One reason behind this is the faster transaction. Money transfer using the digital currency takes less than an hour. Another reason is that players and casino owners can transfer money without revealing their identities. This is ideal for the gambling sites since some government prohibits certain casinos in their jurisdiction.

BitZino, Strike Sapphire, Seals with Clubs, and BTC Sportsbet are just few of the gaming sites accepting bitcoins as payment. These companies have proven success in using the digital currency. BitZino, for example, is able to payout 29,000 bitcoins in a year. Meanwhile, the Strike Sapphire gives 18% cash back for its players. These numbers are much better than the payout and cash back of other traditional gaming sites.

Through the years, the progress of bitcoins is continuously increasing. Experts are actually seeing a brighter future for the bitcoin industry.