How the Online Slot Machine, Vera John, is Using Bitcoin Today
Bitcoin is not well known for its simplicity. How does the web slot machine Vera John use Bitcoin now that they have fully embraced it in late 2014? Much like they would on competitor’s site Guts, users will buy into an account with their desired amount of the coin. When the amount is sent in, it is transferred to euros automatically. This means that the company is not actually holding onto any bitcoin in their system. The coins convert to whatever the current euro exchange rate is. This helps mask them from potential losses as well as minimize risks in using bitcoin in the first place.
Users that buy in with the famous currency must also buy out with it. This may not always be the case and it will be interesting to see how this develops in the coming months. This will largely depend on where bitcoin is as a whole considering its trade value and how popular it is for users.
Vera John currently has roughly 200 slot games available. There are no games that are exclusively used with the digital currency or euros. All games accept both. The company has not revamped its website to accommodate the digital currency nor have they taken anything from users who do not want to use bitcoin at all. Many websites will use something known as a blockchain. This essentially means that they validate every bet to make sure it matches with an existing coin. This shows that the bets are fair and covered for. But this does not help in the authenticity of the famous currency, nor does it help make the games and the accounts go faster and smoother. Vera John works a little differently. Users can play with bitcoins or euros at their own will and transfers are made live when any money is added to the account.
It will be fascinating to see how this online casino works with bitcoin in the future. Will it stand the test of time? Once the mining is reached will it go up in value or will everyone buy out? These are important questions that have a lot to do with bitcoin’s longevity. For now, smart companies are seeing the potential in taking advantage of it early.