Bitcoin Cash, other than the name, has a number of other similarities to this original cryptocurrency. Not only was it established on the basis of its blockchain digital ledger technology, but actually came about due to a divergence among the Bitcoin community.
New payment solutions are made available to online casino players by the day, each more advanced than the other. With businesses investing as much capital as necessary towards this purpose, it is all the more understandable that charge-free solutions would thrive as well.
Since the appearance of cryptocurrencies, this has been a major point of interest for developers everywhere, bringing about derivatives of the initial invention – Bitcoin – from all sides.
It all started when Bitcoin first got its rise to fame, with more and more BTC users flocking in to get a piece of the pie. Once the system was overcrowded with users, the lack of scalability capacity caused the divergence known as the hard fork. At this point, some of the BTC users decided to stick to the original model, adopted the SegWit2x measures and gradually opted to see the Bitcoin increase in scalability by turning the blocks in the blockchain from 1MB to 2 MB in size.
Alternately, Bitcoin Cash supporters took to the new model that came about after the hard fork – it increased scalability from 1MB to 8MB directly, at the same time retaining all major features.
Since then, this string of Bitcoin has become known as a separate cryptocurrency, and has been functioning on its separate blockchain with the ability to perform transactions just as well as its predecessor.
Naturally, it wasn’t long before casino sites adopted this crypto token as yet another anonymous, fully decentralized and speedy banking option. Nowadays, there are a growing number of operators adding it to their list of methods, and all it takes for players is learn how to use it in order to benefit from such features.
Bitcoin Cash Facts
Before you get started with your BCH-funded online gambling experience, it is essential that you obtain a certain amount of tokens depending on your needs. This can be done at one of the exchange platforms available online, or directly through peer-to-peer transfer.
Alternatively, the hard fork mentioned before also gave Bitcoin owners the option to stick to the original currency or switch to BCH at a 1:1 ratio. Either way, all you have to do is pick a suitable wallet for storage and transfer purposes and get the amount you need, and you are good to go.
One other thing before getting started is choosing one of the good online bitcoin casinos that accepts the cryptocurrency. In this regard, it is best to check out the game selection, bonus offering and any other aspects for your preferred gambling experience. Register for a player account with the respective online casino and you can get started.
Once you are logged into your player account, head to the Banking page and select Bitcoin Cash as the deposit option. This will provide you with the address of your online casino account wallet – copy it and paste it as the recipient address at your own private wallet. Next off, enter the amount of BCH you’d like to transfer to the online casino account and confirm the transfer.
Players should see their funds available in their online casino accounts in no time, and can use them to fund their gambling straight away.
More or less the same process is applicable for online casino withdrawals, only in the opposite direction. In other words, players are supposed to copy their private wallet address and input it in the recipient box at their casino cashout page. Make sure to specify the amount of BCH you are looking to withdraw and confirm the transaction. It takes no more than a couple of seconds to complete the transfer, and you will get the tokens stored in your private crypto wallet in no time.
This cryptocurrency processes transactions momentarily, and at an insignificant cost that is close to nothing. The scalability of the currency is an added advantage that helps maintain functionality at all times, and gives players the speed necessary in today’s fast-paced way of life.
Security is yet another priority for them, and Bitcoin Cash handles this through the unique blockchain technology. Players don’t share any private information in order to store or transfer funds on the digital ledger. Double-spending is also prevented thanks to its processing mechanism that requires transactions to be confirmed and updated in real time across the entire system, making it one of the most optimized banking solutions available for online casino players globally.