VeriCoin (VRC) belongs to a type of payment method known as digital currency. Digital currency such as VeriCoin is different than regular fiat currency such as dollars and cents. VeriCoin is a digital coin which is used for transactions in online casinos and marketplaces as an acceptable form of payment. Casino players can choose to obtain VeriCoin by either mining these coins or purchasing them. Mining digital currency requires a very powerful computer and access to lots of electrical energy. Most people will purchase VeriCoin, and keep these coins safely stored in an eWallet.

Using VeriCoin

VeriCoin is a popular payment method for numerous reasons. As a payment option, it provides a valuable way to conduct transactions with little to no transaction fees. Online casinos will usually not charge to use cryptocurrencies, as they make it easier for the casino and not just the players. VeriCoin can be chosen over other methods of payments such as credit cards, because there is the potential for chargebacks. With coins such as VeriCoins, a chargeback is not possible. This is especially one of the reasons why online merchants accept coins such as these as a payment method. VeriCoin is based on the latest technology, which offers peer to peer payments using this digital currency. Not only do users have a way to have their transactions masked, their transactions are sent and received instantaneously. The transactions are definitely faster than fiat currency, and the whole process is more efficient. For this reason, and for many others are why VeriCoin is used and accepted as a payment method in online casinos.