What exactly is cryptocurrency?
Cryptocurrency (English: cryptocurrency) is a virtual currency used for payments on the Internet and uses cryptography to protect the security of transactions.
The first virtual currency to appear was Bitcoin.
By the way, Bitcoin and other virtual currencies are defined by the Japanese government in the Fund Settlement Act (Article 2, Paragraph 5), so the government correctly recognizes the existence of cryptocurrencies.
What is the Bitcoin transfer time?
It is estimated that Bitcoin transfer time is usually around 10 minutes, but the actual transfer time may vary depending on the transfer amount, time of day, fees, exchange, etc.
In other words, you should keep in mind that Bitcoin transfer times can range from 10 minutes to several hours. However, there are cases where the transfer time was faster than 10 minutes.
Note: By increasing the remittance fees, the exchange will prioritize the approval process, significantly shortening the remittance time.
What is the Bitcoin wallet approval time?
Please make sure that the amount being transferred is correct to complete the transaction. It takes about 10 minutes for one Bitcoin to be mined and become one block.
Also, depending on the exchange, the transaction may take up to 6 times to be approved, so it may take quite a while.
How to speed up approval time:
pay more fees
Send money when there are fewer transactions
Transfer money using virtual currency from other online casinos (For example, with Ripple, the approval time is about 4 seconds)
What is a Bitcoin address?
Simply put, a Bitcoin address is your Bitcoin account number. Bitcoin addresses are 27-34 alphanumeric characters starting with 1 or 3.
What type of Bitcoin?
As the number of Bitcoin users increased, a problem arose in that transactions took longer. To solve this problem, the block size of Bitcoin was expanded, and a new virtual currency called “Bitcoin Cash” was created by splitting from Bitcoin.
Other altcoins that have split from Bitcoin include Bitcoin Gold and Bitcoin Diamond.
But all this currency is by no means the same thing as Bitcoin. Another type of virtual currency.
Is there a fee to exchange Bitcoin?
Banks are not part of the Bitcoin system, so you don’t pay them anything. However, some casinos sometimes add fees, so he should look at the casino’s terms and conditions before depositing Bitcoin. Generally, the fees are reasonable and lower than other deposit methods.
Can you bet Bitcoin at online casinos?
Yes, it’s true. Some countries have already legalized Bitcoin online casinos.
Unfortunately, not all casinos accept Bitcoin, but since it is becoming increasingly popular, we expect it to be accepted at many well-known online casinos. If you are looking for an online casino, Bitcoin, Japan is one of the countries where you can do it.
Is Bitcoin safe?
As long as you manage your Bitcoins carefully, they are entirely safe. All your Bitcoins reside in a virtual wallet so that you can store them in your wallet on an online cloud service or offline on your computer or flash drive.
But if you lose that flash drive, you’ll also lose your Bitcoins. So, we recommend backing up your data unless you need to.
What is the house edge in Bitcoin?
Most Bitcoin casinos have a house edge of around 1.5-2%, slightly lower than the average house edge.
Are there Bitcoin casino bonuses?
Yes, I have. For example, at BitCasino, there are two types of introductory deposit bonuses: bonus cash in Japanese yen and up to mB80.
Both Bitstars and Mbit Casino offer Bitcoin bonuses.
Interestingly, many crypto casinos offer comp point bonuses instead of welcome bonuses. This means that once you start playing at a casino, you can earn comp points regardless of your winnings.
Can I use Bitcoin to gamble in Japan?
Bitcoin can be used freely in Japan. Although the situation with online casinos in Japan has yet to be very stable, Bitcoin is legally recognized as a payment method, so the above information will be helpful for those who want to enjoy online casinos with Bitcoin.