New to Bitcoin?

    May 12, 2014 | Bitcoin Learn More About Bitcoin

    Bitcoin is a digital currency (cryptocurrency); it allows people to send money over the internet. Bitcoin is run by the people who use it, which means that it’s not tied to any country or subject to regulation.

    Bitcoins are sent between “wallets”, which exist on your computer or in the cloud. Every time a transaction is made, it’s entered into the “block chain”, which is a public ledger. Although each bitcoin transaction is recorded, names are never revealed – only your wallet ID is recorded. That keeps your identity private.

     

    Why is bitcoin great for sports betting?

     

    • It’s a decentralized currency. This means the bitcoin network isn’t controlled by, or responsible to a government or bank.
    • You can set up a bitcoin address in seconds with no fees.
    • Transaction fees are minuscule; at Nitrogen Sports, we never charge for withdrawals.
    • It’s anonymous! Your name won’t be attached to your bitcoin address, and you can hold an anonymous account at Nitrogen Sports.
    • It’s fast! You can deposit funds with us with 0 confirmations, and have your bet placed in minutes.

    If you want to learn more or see what it’s all about, check out: trybtc.com. They’ll set you up with a temporary wallet, and give you a little bit of bitcoin to try donating money and sharing it with your friends!

    Expand your knowledge and learn about bitcoin through our guides here at Nitrogen Sports Blog. If you’re looking for a more in-depth explanation of how bitcoin works, we definitely have it laid out for you.

    Let us know if you have any questions! You can leave a comment here, or submit a support ticket at Nitrogen Sports.

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