Online transactions are very common as the modern day world relies on the internet so much. One concern most people have is the safety in completing these transactions especially that there are also a good number of cyber criminals lurking and waiting for the right moment. Monetary transactions may not be that safe so instead, one way that is commonly used these days are bitcoins.
Internet users transfer digital assets to each other on a network. There is no online bank, rather, these has been described as an Internet-wide distributed ledger. Users buy Bitcoin with cash or by selling a product with Bitcoin wallets where they get from special stores.
Users may sell out of this virtual ledger by trading their Bitcoin to someone else who wants in. Anyone can do this, anywhere in the world. Due to the anonymity of bitcoin the gambling industry has taken up bitcoin as a payment method as well.
Both bitcoin casinos and poker sites are coming to life and offering their players to make deposits, play with bitcoin at the tables and withdraw directly to their bitcoin wallet. This means that there’s no taxes or possibilities for government control. Similar to land based casinos, you won’t be taxed using this cryptocurrency.