Without a doubt, the skyrocketing of Bitcoin technology has indeed resulted in substantial developments in a plethora of web-based services. With that in mind, sports betting online is one of the copiousness of changes. The low costs, the anonymity, as well as the incredible opportunity of circulating funds in the blink of an eye, are a coterie of the major reasons which make this digital currency highly suitable for betting. In this article, we will delve into the entire process that makes wagering with Bitcoins a tad simpler and convenient. It entails the creation of a Bitcoin Wallet, depositing funds in it and making a down payment to a bookmaker, and last but not least, withdrawing your earnings.
Creating a Bitcoin Wallet
The initial step in this process is to create a wallet, which serves the same function as your bank account in the phenomenal cryptocurrency world. As such, gamblers can use this wallet for the purchase and selling of this currency, payment of goods and services or making trades on particular currencies. Well, in this case, the sole purpose of this wallet is for the deposit of bookmakers.
- Pinning down a Wallet– As you know, there is a copiousness of cryptocurrency wallets, and some of them require you to install a desktop client. Others, on the other hand, can function directly on the web browsers such as Mozilla, Chrome, Safari, and Internet Explorer, among others. Some of the most reliable and attractive options run the gamut from Green Bits, Bit Go, Bread Wallet, Electrum, Coin Space, m-SIGNA, and My Celium, among others. However, Coin-base is by far one of the most preferred wallets across the globe and won the award of Best Bitcoin Wallet of 2016 on a myriad of websites. The sole reason for this is that it has an easy-to-use interface and does not need the installation of additional software. Nevertheless, the procedure of acquiring and funding a wallet has a striking similarity to a plethora of other similar services out there.
- Signing up an account– To begin this process, all you require to do is visit your preferred service, click on the Sign Up button and fill in the registration form with your accurate details, such as your first name, last name, email address, and a secure password.
- Link your phone– It is the last step of the registration process. As such, you will require adding your phone number which will allow you to change your password if it slips your mind.
Depositing Funds in Your Account
For starters, before you can make any deposits, you require verifying your identity with certain documents such as an ID, passport or Driver’s License, after which, you ought to follow the steps below.
- Register a bankroll method- While your geographical location may determine what is available and what is not, the most common alternatives include direct wire transfers and credit or debit card payments. Once you have successfully registered, you will be able to buy your first Bitcoin.
The Process of Wagering at a Bookmaker
While there is a myriad of alternatives available, a coterie of them is not secure enough. As such, some of the most acclaimed Bitcoin sports books include m-Bit, Nitrogen, Direct Bet, and Cloud Bet.
- Registering with a Bookmaker– Upon pinning down a sports book and signing up using insufficient necessary details such as your email address, password, and date of birth, you can proceed to deposit funds. Hence, this warrants you to maintain anonymity with players across the globe.
- Selecting a market and making your bet– The great news is that nothing is challenging in this procedure. There are hardly any variances between Bitcoin bookmakers and the traditional web-based sports books. As such, there is a list of events as well as sports available on which you can wager. Thus, all you need to do is pin down the one, view the odds as well as the market, and make your wager with one or two clicks.
Withdrawing Funds Made As Easy As the Alphabet
There is nothing as fulfilling as retrieving your earnings after making a bet. Hence, it is the last and sweetest part of the whole process.
- Transferring the wins from your chosen bookmaker to your wallet– You begin by moving your Bitcoins from your selected bookmaker to your wallet. To do so, you ought to key in your wallet address for the bookmaker to transfer your funds.
- Retrieving cash from your Bitcoin wallet – When the payment arrives in your wallet, it is in the form of Bitcoins. Thus, you may use it to make purchases online, or convert it into some real bankroll and credit it to your bank account.
From this article, it is evident that making your wagers with Bitcoins exudes convenience and is as simple as reciting your first and last names.