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Cryptocurrency

What is cryptocurrency?

Crypto is a virtual or digital currency that is protected by cryptography, which makes it practically impossible to double-spend or counterfeit. Some popular examples of cryptocurrencies are Bitcoin, Ethereum, Litcoin, and BitShares. They are mainly decentralized networks that use blockchain technology to simplify the process of financial transactions and information storage. Essentially, this decentralized nature allows cryptos to exist and function outside the government's control or any central authority.

The main distinguishing components of crypto are its distributed public ledger, peer-to-peer network and technology, and smart contracts.

Cryptocurrencies are mainly used in the online payments sphere, as they support anonymity, and their transaction speed is several times faster compared to traditional banking systems. Among all cryptos, Bitcoin is now the most popular and recognized digital currency that is accepted by the laws and regulations in many countries worldwide.

Why Use Cryptocurrency?

Cryptos are a new paradigm for money, and due to numerous reasons, they are currently the most popular and widely used virtual currency.

In contrast to traditional financial transfers and banking procedures, with cryptos, you can easily make transactions in a matter of minutes without waiting for several hours or even days. The transaction fee is also much lower and usually won't exceed a few cents.

Moreover, cryptos are based on decentralized platforms, which means they are not controlled by third parties and intermediaries like a government agency, banks, or any other financial institution. As such, no individual or entity can manipulate crypto transactions and cryptos as a whole. More importantly, when you use virtual currency for your payments and transactions, you don't need to worry about confiscation threats and risks, as all processes are anonymous.

How Does Cryptocurrency Transaction Work?

When it comes to crypto transactions and funds transfers, everything is as simple as washing your face. The main process basically covers sending virtual currencies from one digital wallet to another. First, you need to send your private key, which is a randomly generated number sequence, to the payee. Once done, the transaction will then go through from zero to five validation processes.

A simple and ordinary crypto transaction will generally need only one validation; however, if the transferring amount is very large, it's much better to perform several validations. Regarding the speed, it takes about 10 minutes for a single validation to be carried out on the blockchain network. When the validation phase is over, anyone on the blockchain network can check this transaction but won't see any sensitive or confidential information.

How to Purchase Cryptocurrency?

Typically, there are multiple ways you can purchase cryptocurrency. Here are the main ones:

  • Market Exchange - Online market exchanges can be the best option for those buyers who don't really care about their privacy, as most exchanges require you to provide identification. You can purchase cryptos from a cryptocurrency exchange and store them there.
  • Cryptocurrency ATM - Crypto ATMs are pretty much like traditional ATMs. The only difference is that you will get a recipe with a special code instead of cash. When needed, you can scan this code, and the bitcoin or other currencies will be transferred to the buyer’s digital wallet.
  • Over The Counter - This particular way refers to the crypto transaction that is carried out face-to-face between two people. Even though such a method of buying cryptos doesn't have the benefit of anonymity, it still is very popular among people. There are many websites and platforms where buyers and sellers can contact and purchase digital currencies.

Is cryptocurrency legal?

In general, over the last few years, the legal status and position of cryptocurrencies have been getting better and better. If only a decade ago it seemed nearly impossible for virtual currencies to take over the market and become a real game changer, now it's not only on the rise but also legally accepted in many countries. For example, just several months ago, Japan announced its intention to recognize Bitcoin as a fully legal currency. Another example is Russia's declaration about the plans to recognize digital currencies, especially Bitcoin, as a financial tool. This is a huge boom showing Russia's major change of position, considering that Bitcoin was originally banned in their country.

And as crypto eventually becomes an important and powerful global currency, this kind of change will also gradually increase. However, at the moment, the regulations on cryptocurrency taxation and use vary from one country and region to another. And though every new day, we witness the appearance of new and updated rules and laws coming to light, it's essential to check your particular country's government stance on virtual currencies before beginning the crypto journey.

Bitcoin wallet

In order to be able to engage in crypto transaction processes, you will need a crypto or Bitcoin wallet. Generally, you can find a wide variety and types of bitcoin wallets to choose from. For example, there are cloud-based digital wallets, as well as special wallets that you can easily download to your personal computer, mobile phone, or tablet. Moreover, you can also get a physical hardware wallet that is designed for storing cryptocurrencies. All these wallet types have one unified goal, which is to transfer cryptos. However, each of them has its special features and characteristics. So, let's look through them in detail.

Cloud-based wallet

This type of wallet is the most convenient and easiest option to use. However, with a cloud-based wallet, you will hand the responsibility of storing cryptocurrency to the company, safekeeping your virtual currencies. That's why mutual trust and reliability between two involved parties are essential in storing cryptos in a cloud-based digital wallet.

Here are the top cloud-based wallets you can consider using.

  • bitgo.com
  • copay.io

Hardware Wallet

The main benefit of a hardware wallet is that it stores the users' private keys in a safe hardware device. Moreover, it has immunity against various malicious requests and computer viruses. More importantly, because the private key of a user is stored in a protected zone of a microcontroller, it becomes nearly impossible to transfer it out of the device in cleartext.

Here are the top software wallets you can consider using.

  • Ledger
  • Trezor

Software wallet

The main distinguishing feature of a software wallet is that it's a downloadable program that can be run on tablet computers, mobile phones, or computers. Compared to a cloud-based wallet, a software wallet is more secure and safer because you have the opportunity to take full control of it. However, it also comes with particular risks.

Here are the top software wallets you can consider using.

  • Breadwallet
  • copay.io
  • Mycelium

Common Ways to Protect Your Wallet

Bitcoin and other major cryptocurrencies as well are highly secure if used properly. In most cases, it's the user's responsibility to follow all security measures to enhance the protection level of the wallet. Here are the core recommendations to take into account:

  • Don't store all your money in one single wallet.
  • When picking a digital wallet for your transactions, be extra attentive. Look through all the provided features and security policies.
  • Enable two-factor authentication for an additional security enhancement.
  • Back up your virtual wallet regularly. It will also become a good practice for encrypting backups exposed to the Internet.
  • Generate a strong password mixing numbers, letters, symbols, and capitals.
  • Store your wallet's private key and password in a highly secure place so that no one other than you can access it.
  • Using cold storage, also known as an offline wallet, provides the highest security for deposits and financial transactions. Offline wallets are a great option for hiding the wallet in a safe location that is not connected to the Internet. If used and implemented properly, this option can ensure your security against all kinds of vulnerabilities.

Richy Online Casino - Crypto and Fiat iGaming platform

Online casinos have revolutionized the iGaming industry in the world over the past few years. There are more and more new providers and games that win the hearts of players with their fascination and the size of the winnings.

Richy online casino combines several trends of recent years - a modern and user-friendly interface, financial mini-games and dice, cryptolotteries and tournaments, fast replenishment of the balance using a credit card and various cryptocurrencies such as Bitcoin, Ethereum, Doge Coin, Litecoin, Bitcoin Cash , Stellar, Cardano, Solana, USDT, Tron, etc. You can make instant withdrawals of your winnings to your Visa / Master Card / Union Pay credit cards, as well as to a cryptocurrency wallet.

Key Features

Casino Richy is an official licensed provider of gambling services. Richy provides an opportunity to use certified gaming software from the world's best developers. For all players, the gaming session takes place on fair and transparent conditions, which means that absolutely every player can receive a win, even if he makes the minimum bets.

Among the main features of the casino it is worth noting:

Guaranteed payouts. This is confirmed by the feedback of the participants, as well as the reputation of the gaming and payment providers.

Availability of generous bonuses.

The presence of a personal manager who is always ready to answer any user questions.

Quality design, usability convenience.

Own games and lotteries.

Distribution of free cryptocurrency.

Tournaments by Richy and game providers.

The advantage of using cryptocurrency

One of the advantages of the casino is that you can make a deposit here using cryptocurrency. Thus, the anonymity of using the gambling platform is preserved. It is no secret that many users would be happy to play in a casino, but do not want information about this to become available to others. Cryptocurrencies allow you to do this.

Another advantage of using cryptocurrency as a means of payment is maximum security. The absence of intermediaries when receiving and sending payments means that the funds are guaranteed to be delivered to the desired wallet.

Get richer with Richy - the received winnings can even be left to lie until better times. In a few years, the value of cryptocurrencies will increase and the player will receive even more money.

Live Casino and Virtual Sports

One of the features of the platform is the presence of a live casino and virtual sports. This game takes place with real croupiers in real time. The actions of all participants and the dealer can be observed online. To select a game, just click on Live Casino or Virtual Sports in the main menu.

Live casino is a popular gambling entertainment. Initially, it was available only to top Internet establishments, but now such games are becoming more widespread. The player can not only follow the distribution of cards and the acceptance of bets, but also directly communicate with the dealer. Thus, the feeling of visiting a real land-based casino is achieved. Professionals work as croupiers, you can see for yourself if you look at the nature and style of the game.

Free cryptocurrencies

Do you want to get free crypto guaranteed every hour?

At Richy.Casino you will be able to do this. A completely free game that can be played once every hour. After pressing the button, a combination of numbers appears and Richy gives you from 200 Satoshi to 0.01 BTC.

But the possibilities don't end there.

The received winnings can be immediately used for other games in the casino, or you can purchase lottery tickets. The ticket price is only 1 Satoshi, but you can win large sums. Summing up is carried out every week. At the end, there is a pool of winners of ten people who get the prize.

Wheel of Fortune or the wheel of fortune is another opportunity to earn money. Spin the wheel once a day for a chance to win 1 BTC.

Also, do not forget about the welcome bonus - after making the first deposit, each newcomer receives a free bonus up to 300% to the replenishment amount.

Richy Games

Richy offers its clients to play Richy Games - Craft, Mini Poker, Rouletter, Plinko, Stairs, Limbo, Keno, Dice, Diamonds, Coin Flip, Black Jack, HiLo, Mines, Towers, Wheel.

And Richy's exclusive game is Money Chess. Chess for money that you can play with other chess lovers.

Richy Games are Provably Fair games. All games are based on a random number generator. Each player can check the reality of the bet made.

Richy Games Tournament

A Richy Games tournament is held weekly. Anyone can participate, all you need to do is:

Register on the site, deposit funds into the account.

Play Rich Games.

Wait for the end of the week when the results will be summed up.

Get your cash prize.

The user who has made the highest turnover of funds wins.

The Richie Games Tournament can be won not only by those with big budgets. The gaming forums present the strategy of playing to zero. It is enough for the player to periodically win and lose, going to zero. Although you won’t be able to withdraw money in this way, you can still win bets and claim the winnings at the end of the week. Not all players agree with such a strategy, but you can always try and, if necessary, refine the tactics for yourself.

Slots

Virtual slots are suitable for those who are focused on the easiest and most enjoyable pastime.

The online slot is a random number generator, for which pictures are selected that correspond to the theme of the game - these can be ancient worlds, adventures, fruit cocktails and much more. After spinning the reels, a winning combination of images appears on the screen, which means that the player can collect his prize.

The use of slots at Richie Casino is:

Safety. All slots presented on the site undergo regular checks for the quality and reliability of the game. All of them guarantee fairness and transparency of the game.

Convenience. The player can choose any slot to his taste. There is no need to wait until this or that device is free.

The beauty. Slot machines are distinguished by high-quality attractive graphics. The presence of original musical accompaniment allows you to immerse yourself in the world of gambling even more.

Slots are a convenient and interesting option for online games for money, and their huge range will definitely not let the user get bored.

Richy Casino features slots from popular providers such as Amatic, BGaming, EvoPlay, Ezugi, TVBet, Red Tiger, KA Gaming, Mascot, Spribe, TrueLab, Pragmatic Play, Netent and others.

Providers and games

Richy Casino has over 150 providers and over 12,000 games.

Virtual Reality Games, Board Games, Dice, Arcades, Live Casino, Card Games, Roulettes, Lotteries, Crash Games, Keno and others.

Richy Casino works only with verified licensed providers such as Netent, Booming, Playngo, Relax Gaming, Red Tiger, Playson, Ezugi, KA Gaming, Mascot, Spribe, Evolution Gaming and others.

Registration

Easy registration of a new account is one of the calling cards of Richy Casino.

To get access to all offers from the casino, you will need to register. It is very easy to do - the procedure will take only a couple of minutes.

Authorization methods:

Email.

Telephone.

Social networks.

After successful registration at the casino, you can proceed to replenish the deposit and start playing.

Deposit and withdrawal of funds

Richy Casino provides its players with the opportunity to make a deposit using cryptocurrencies and a bank card.

In some countries, it is possible to replenish the wallet with various payment methods.

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© 2023 Richy.


Richy is operating as a licensed partner number 22-0025/8vhyx of New Wave Infotech Limited, with operating address of 2nd Floor, Executive Villa, Telempire Building, Lot 32 & 33, Waterfront Road, Sub Central Business District, Subic B, Olangapo City, Phillippines. New Wave Infotech Limited is operating as a licensed offshore gaming operator licensed by PAGCOR (Philippine Amusement and Gaming Corporation) number 22-0025.

©2023 RICHY.CASINO ALL RIGHTS RESERVED