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The convenience of the Bitcoin currency is one of the biggest reasons why it has been adopted by many online gambling operators like online sportsbooks, online casinos and online poker sites. Bitcoin is a decentralized electronic currency with no bank accounts or government oversight to prevent counterfeiting or fraud. It is also a highly unstable currency and has an extremely volatile price, online gambling aml risks. Some days it can be worth hundreds of dollars whereas some days it is worth the contents of your sock drawer.
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There are several different types of Bitcoin that can be used for online gambling purposes from traditional credit cards or PayPal to prepaid debit cards and prepaid bank transfers. The types change from computer to computer depending on whether the Bitcoin is bought or is already stored in the computer.
One Bitcoin can be converted to any other currency by using a Bitcoin exchange. There are many Bitcoin exchanges available, some offering a wide variety of the different types of Bitcoins at no cost to customers. Some of the most popular exchanges are:
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