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About bitcoin - What makes it a good choice?
One of the benefits of Bitcoin is its security. Players do not expose their personal details when making payments. Second, most US sportsbooks that accept the payment method allow for a wide range in the amount that you can deposit. Therefore, you can deposit very high or low amounts to the account without any restrictions. Besides, payments are instant. Consequently, you can start wagering as soon as you deposit or use cash as soon as you withdraw.
How to start betting with Bitcoin?
Everything You Need To Know In 5 Easy Steps!
Register, create a Bitcoin account and add some money.
Log in to your sports betting account and register the payment method
Go to the cashier/payments page and select Bitcoin
Enter the total amount of funds that you wish to deposit and click on the deposit button.
Confirm that the funds have been added to your balance at the sportsbook and continue betting.
How Does Bitcoin Work?
Bitcoin is a computer file that is stored in a digital wallet app either on a computer or on a smartphone. You can send part of the Bitcoin to other digital wallets and receive the same from others. Every time you transact with your sportsbook, the transaction is captured in a public list called Blockchain. This is vital to prevent people from making copies of the digital file, using Bitcoins that they do not own or reversing the cash.
Bitcoin App
There are different wallets that store Bitcoin, just as many banks store the fiat currency. Most of these digital wallets have mobile apps, which allow you to manage your Bitcoin from the smartphone. On the app, you can make payments, receive cash and check your transaction history. Some allow you to convert the digital currency into fiat currencies. It is good to check various apps and determine the one with the best features for your use.
Costs and Fees
In most cases, there are very low Bitcoin fees for any transaction. However, the fee may go high if there is network congestion, which, in turn, raises the fee. Even in this case, the fee is generally lower than what many methods charge. In fact, most Bitcoin sportsbooks do not charge for transactions with customer accounts. This means that players get much of the cash to wager or use in the case of winnings.
How to use bitcoin for betting
To use Bitcoin for betting, you need to have a Bitcoin wallet to store your cryptocurrency. You can open your wallet for free on your smartphone. Then, you need to buy Bitcoin. Most of the wallets allow you to buy your Bitcoins with a card or other payment methods. Once you have the Bitcoin, simply transfer it to your sportsbooks wallet. You can then log into your account and start betting with the cryptocurrency.
Opening Bitcoin Account
A Bitcoin account is the crypto-currency wallet. Bitcoin sign up process only requires your name and a few other details. This information is not shared when you transact with your Bitcoin. Opening the account should not take more than a few minutes. It also does not require any approvals. You can purchase Bitcoin elsewhere and deposit it to your wallet to enable you to transact with your sportsbook.
Depositing To Your Sportsbook Balance
- Check if your sportsbook is one of the betting sites that accept Bitcoin.
- Then, head to the cashier section of the account and select Bitcoin.
- The sportsbook will provide you with an address of its wallet.
- Copy it.
- Then, head to your wallet and click on sending section.
- Paste the Bitcoin address and amount you would like to send. Complete by authorizing the payment.
Withdrawing from Your Sportsbook Account
Part of the Bitcoin withdrawal process happens in your sportsbook.
- Head to the cashier section and choose Bitcoin.
- Then, head to your wallet and copy its address.
- Paste the same on the withdrawal address section provided by the sportsbook.
- Complete your transaction by specifying the withdrawal amount. Many sites do not impose Bitcoin limits for either deposits or withdrawals.
Which countries accept online betting with bitcoin?
Bitcoin is a popular cryptocurrency around the world. Given that it is a digital currency, it does not require approvals by most monetary authorities. Over time, most governments have also discovered the benefits of the cryptocurrency and have created legal frameworks to enable it to function effectively. The cryptocurrency is legal in much of Europe, including the UK, Germany, France, Belgium and Portugal.
It is also accepted across Africa and Isa except for a few countries such as Algeria, Nepal and Bangladesh. You may use it in the Americas such as the USA, Canada, Mexico, Brazil and Chile. You may find a few restrictions on the use in some of the countries. However, it is generally accepted for online transactions.
Crypto betting bonuses
Several sportsbooks that accept the crypto-currency also offer bonuses and promotions you can redeem with Bitcoin. These offers range from welcome bonuses, loyalty offers, reload bonuses and no deposit promotions. Many of the sites provide regular bonuses with an equivalent for Bitcoin customers. The general terms of Bitcoin bonuses are similar to those of other offers.
Conclusion: Finding a good sportsbook that accepts crypto
Keep in mind a few things when choosing betting companies that accept Bitcoins. First, go for a reputable company that is known for fairness and fast payouts for winnings. Second, the company must be operating in your country. This makes it easy to use gambling authorities to seek assistance whenever there is a disputed. Besides, be keen to check the payment and withdrawal fees and limits for crypto payment. Compare the same with a few leading websites and determine if it is worth playing with the sportsbook.
Check if your sportsbook has bonuses and other offers you can redeem with Bitcoin. This ensures that you are not at a disadvantage for going with the cryptocurrency. In addition, pick a site in which you can play on the go using your mobile device. You may want to check its app or mobile site before signing up.
