History of Bitcoin and Important Facts About Crypto World

What you need to know about the cryptocurrency

History Of Bitcoin

History of bitcoin. For quite some time, cryptocurrencies have been the “big thing” in the virtual world, and the most popular of them all is Bitcoin. This industry is changing and evolving every single day, and online gambling is one of the industries where cryptocurrencies are widely used.

There are many advantages of using this type of currencies, as transactions are swift, secure, and give users complete anonymity. But  history has tought us that using Bitcoin and other cryptocurrencies can be dangerous as well. 

Scores and Stats Portal will give you complete and detailed guides about using this type of payment method. The best online crypto sportsbooks, tips, and tricks for using cryptocurrencies in the sports betting industry.

So, let’s jump into the revolution train and learn about cryptocurrencies!

The Short History and Impressive Rise of Bitcoin (BTC)

Cryptocurrency History

The first-ever crypto block was mined back in 2009, but the idea of cryptocurrency wasn’t new back then. But in March 2009, the first decentralized cryptocurrency was born, and the world was ready for the revolution. This was the first currency not tied to any government or agency. BTC was just a BTC, and nobody could (and still can’t) affect the rise and fall of this virtual currency.   

Cryptocurrencies got their name from the word “cryptography” type of encryption that is used to monitor and process the transactions in this virtual market.

In this article we will talk about the history of BTC and other cryptocurrencies (Litecoin, Ethereum, BTC Cash, Monero, etc.), and the connection between them and the sports betting world.

The Legend of Satoshi Nakamoto 

The History begins in 2007 when the Bitcoin project started, and in 2008, Neal King, Vladimir Oksman, and Charles Bry filled the encryption patent for the top-secret application.

All of them deny any links with Satoshi Nakamoto. A mysterious person whose name is associated with the Bitcoin from the start. 

To the present day, Nakamoto’s identity is still a mystery, but it is speculated that he (or she) owns at the moment around 980.000 BTC. So the Nakamoto had in December of 2017, around $19.7 billion in BTC.

Places Where You Can Use Bitcoin

BTC

Currently, Bitcoin is the most used cryptocurrency in the world, and people love to use it because Bitcoin transactions are fast, safe, and secure.

You can use Bitcoin as a legitimate form of payment, as many stores accept Bitcoin and other cryptocurrencies. This due to the lower costs, instant transaction times, and high-security protocols. 

Many online stores and merchants accept this form of payment in the same way that they accept credit cards or e-wallets.

So if you want to spend your hard-earned BTC or some other cryptocurrencies, you should search through the internet and find crypto-friendly web sites. And then you will see a lot of online sportsbooks that accept this form of payment as well.   

Speaking about the online betting and gambling industry, both of these are Bitcoin-friendly as this type of payment method is first and foremost completely anonymous and can’t be traced by a third party.

This means that bettors don’t need to share their personal information or even verify their identity. When we talk about verification, this can be tricky, as with complete anonymity comes with problems, such as underage gambling. (inside link towards How Old You Need to Be article)

Nowadays, more and more sportsbooks accept Bitcoin and other cryptocurrencies as a payment method, and on our portal, we made a list of the best Bitcoin online sportsbooks for US players.

Conclusion

The truth is that nobody can predict where Bitcoin will be in a few years, as the value of Bitcoin and other cryptocurrencies depends solely on buyers and customers.

But one thing is sure, cryptocurrencies are a safe, fast, and decentralized form of currency. And that is something that is hard to find.

For that reason, and many others, the betting ecosystem accepted cryptocurrencies as a legitimate form of payment method. And many sportsbooks encourage their customers to make deposits via cryptocurrencies by giving them nice bonuses on BTC deposits. 

FAQ

How to buy and pay with Bitcoin?

First, you need to have one of the Bitcoin wallets, and then you need to set up your account and to finish the transaction. Nowadays, you can purchase many useful things with Bitcoin, from clothes to houses. Of course, there are a lot of Bitcoin and crypto online sportsbooks that accept cryptocurrencies as a payment method.  

Is it smart to invest in Bitcoin at the moment?

If you want to start investing now in Bitcoin, the smartest advice is not to get greedy. Try to invest reasonably and think about BTC investing like betting. Invest the amount that you are ready to lose.  

Is Bitcoin a popular deposit method in the sports betting world?

Every day, Bitcoin is becoming more and more popular deposit method for sports bettors. Many sportsbooks accept BTC and other cryptocurrencies as a deposit method. This deposit method has a lot of advantages, like fast processing time, low fees, and high security.