About Cryptocurrency

Welcome to the Crypto Crypt of UrbanCasino, my name is Mr Cryptonian.

I can safely assume that the reason you have made your way here is because you would like to know a bit more about cryptocurrencies. Am I right? Thought so. So let’s begin with the basics shall we…

About Cryptocurrencies

Cryptocurrencies (cryptos) are digital currencies that you can spend in the digital space for goods and services, provided that vendors accept cryptos as a form of payment for such said goods and services.

For example, considering that UrbanCasino is an online crypto casino, you can make deposits in cryptos in order to play at the casino.

There are a wide variety of cryptocurrencies out there, with Bitcoin (BTC) being the most well-known out of all of them. Other cryptos include Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Tether (USDT), USD Coin (USDC), and Dai (DAI), to name but a few, but also happen to be all the cryptos accepted to play with at UrbanCasino.

Now in order to exchange your normal currency for cryptocurrency, you will have set up a crypto wallet. But, before we get there, l will tell you a bit more about why cryptos are becoming so popular the world over.

find out more about Crypto

MINIMAL FEES Limited transactions

This is where crypto currency comes in and shakes things up, turning monetary transactions on its head, as all crypto transactions are done without additional fees.

Some wallet providers may ask for a nominal fee if you want to speed up the process in which transactions are processed, but that is entirely your choice to make use of that service or not.

Efficiency Faster Payments

As we all know, processing of transactions at financial institutions can take longer than expected, especially when it comes to international transactions that can take up to a number of days for the transfer to be completed.

But, once again, cryptocurrencies are changing all that by offering the transfer of funds in as little time as 10 minutes no matter where in the world they are being transferred to.

decentralised and fully open

Those who created the bitcoin network designed it to be open source in order to prevent accounts from being frozen.

Because bitcoins are decentralized, no one can limit your account or access your assets without your consent, so you’ll always know where your money is. This is one of the reasons bitcoins are becoming ever more popular.

feel secure in control of your money

Digital currencies’ network safeguards your transactions by employing a sophisticated encryption mechanism. An encryption algorithm safeguards you by scrambling the code that includes the specifics of your account and financial records, making it unreadable to anyone attempting to access it.

Cryptocurrency is one of the safest ways to spend money online because the code is only decrypted after it reaches its intended destination.

protection of your online identity

Identity theft is on the rise, as crooks are becoming more inventive than ever in their attempts to steal financial information from unsuspecting victims. Some payment processors don’t do much to secure their consumers, but bitcoin users are never compelled to provide any information that may be used to identify them, adding an extra degree of security to every online transaction. You can submit payments without jeopardizing your financial future, leaving you with a feeling of contentment.

set up wallet to start winning

Like any form of cash, you need a place to keep it in order to do transactions, so before you can start sending and receiving payments, you must first create an online wallet. Atomic Wallet, Bitcoin Core, BitPay, are popular desktop wallets and Bitcoin Wallet, GreenAddress and Mycelium are great mobile wallets with many more to choose from. Because different wallets come with different benefits, choose one that will suit your needs to get the most out of it.

purchase and get your cryptos

Once your wallet has been set up it’s time to add funds to your account, and many websites allow people to exchange various types of currency. You also have the option of buying cryptos from other users.

No matter your choice, you can also do so with your PayPal account or a credit card. Have a look at this nifty site to get your hands on some coins.

spend away with fast transactions

So you now have a wallet and coins which means you can start spending them at any location or retailer that accepts them, such as here at UrbanCasino. You will find that sending and receiving funds has never been so quick and easy before!

Have fun at UrbanCasino and may you be one of the luckiest Urbanites we have had the pleasure of having here in our world of entertainment.