What are cryptocurrency & Bitcoins?

Cryptocurrency refers to digital or virtual currencies that utilize cryptography for security and operate independently of a central authority, such as a government or bank. The first cryptocurrency, Bitcoin, was created in 2008, introducing the concept of a decentralized digital currency based on blockchain technology.

Bitcoin facilitates peer-to-peer transactions without the need for intermediaries like banks, employing a distributed ledger to record all transactions. It is characterized by its decentralized nature, a limited supply capped at 21 million coins, and the transparency afforded by its blockchain technology.

In simple terms, cryptocurrencies can be likened to digital casino chips; they hold value within the digital realm and can:

• Be exchanged for traditional currency
• Be used for various payments
• Be deposited into your Slotsandcasino account or withdrawn as needed.