FAQ

Q: What is Bitcoin?

A: Bitcoin is a peer-to-peer electronic cash system. It is a network that enables a new type of payment system that is completely digital. The first decentralized peer-to-peer payment network that is user powered. All transactions are recorded on a ledger called the “blockchain”, which is shared between Bitcoin “miners” and “nodes”.

Q: What is Ethereum?

A: Ethereum, similarly to Bitcoin is a new type of digital payment system. It has become very popular recently. It is not only a currency, as the platform allows to develop and deploy decentralized applications.

Q: Is Bitcoin Anonymous?

A:The transactions are identified by a public address. The addresses are very long and start with either 1 or 3. For every transaction, the addresses of the participants are viewable. Since these numbers are used by computers and don’t contain a person’s name and identifying information, it is usually said that Bitcoin is an anonymous currency.

Q: Is Ethereum anonymous?

A:Yes, the main difference between both is that Ethereum does not use change addresses, however that isn’t that big of a difference if someone is serious about tracking you.

Q: Are there other cryptocurrencies?

A:Yes, however these are the most popular with casinos.