Bitcoin Wallet...Don't Leave Home Without It

Bitcoin Wallet...Don't Leave Home Without It

Bitcoin is such the rage these days. You might be asking yourself, what exactly is a Bitcoin Wallet, and why do I need it? Bitcoin is a new, emerging form of online payment that is not based on any traditional currency. In fact, when you sign up for bitcoin, you will need to convert your currency into bitcoins, to be enjoyed at many online services, and in particular, online casinos.

The advantage of Bitcoin Wallets is intricate connections of block chains, to link transactions. Blockchain makes accounts one way, meaning that the bitcoin user is the only one who can access their accounts, negating thieves hacking in or blocking access to the account. Because bitcoin is a baseless currency, bitcoins wallets facilitate the interactions and transactions of fellow bitcoin users by allowing them to trade, sell and buy bitcoins from each other, free of traditional banks. These wallets even come in desktop, mobile and online versions. Another distinctive advantage to conducting business with Bitcoin Wallets, is that you can remain anonymous. In fact, users do not even need to have a physical address to setup a bitcoin account. All you need is a valid email address and a way to convert your funds into Bitcoin.

Due to the proliferation of bitcoin casinos, the need to manage bitcoin assets is essential, and becomes easy to do so through wallets. The first and essential bitcoin wallet is “Bitcoin Core,” by far the most complete and secure of the bitcoin wallets. Because “Bitcoin Core” is a full node, it can easily relay and validate transactions all through the bitcoin network, sparing users the security concerns of dealing with third parties. “Bitcoin Core” also adds extra encryption to users keys, making it all that much harder for cyber thiefs to hack accounts.

Other bitcoin wallets include “WalletBit,” which allows its members to send email addresses which will automatically convert each users' currency based on their location, through the Bitcoin exchanges, Bitcoin Nordic and MtGox. Perhaps the most popular of all the Bitcoin Wallets, is “Armory,” which allows its users to conduct their accounts through either standard, advanced and expert mode. It goes the extra mile by providing a graphical keyboard to further encrypt sensitive information. “Armory” even allows its members to create and manage multiple wallets, as well as importing private keys, online and offline, and sign messages.

Perhaps the most important feature of Bitcoin Wallets is the ease and speed in which members can make withdrawals. While traditional online banking services can take several business days just to process requests, Bitcoin wallets makes it possible for members to receive their monies in 15 minutes or less, because they don't go through traditional banks. This is a key point to the emergence of Bitcoin Casinos.

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