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One of the newest ways to use bitcoin online is on online casinos that feature slot games and live casino games,” Dr Sotirska, who was not involved in the research, said.
“They’ve taken this technology to a whole new level where people now have access to this kind of gambling that they cannot get anywhere else – for example, they can now play games that are based off of poker.”
He believes people use bitcoin more to gamble and more importantly more and more places accept it.
“When you start getting more casinos accepting it then we see more use of bitcoin to play,” Dr Sotirska said.
He believes increasing public acceptance is driven by bitcoin adoption rather than its price.
Bitcoin popularity
Bitcoin is a digital currency that has grown over the last four years to over $13,000 at press time. It’s used for many purposes and has become the world’s ‘fastest growing currency’, surpassing currencies such as the Japanese Yen and the Chinese Yuan.
The virtual currency was introduced in 2009 and has seen a rapid growth since, peaking at over 25,000 in November 2013.
However there have been a number of significant price fluctuations during that time and the value of the currency has dropped off dramatically since January 2014.
To see how many users are using bitcoin in your area you can use Coinmap to find the latest numbers by clicking here.
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