Bitcoin betting platforms are getting more popular each day, and now people can bet on bookmakers with Bitcoin. With this, they’re able to enjoy impeccable security, increased anonymity, and a chance to earn much more with each win. When you bet on bookmakers with BTC, you’ll also be able to receive your winnings within the hour.
Steps to Place Bets on Bookmakers with Bitcoin
Placing bets using cryptocurrency has always been easy, and this didn’t change with betting on sports teams. To get going, just follow the detailed instructions down below.
Set Up Your Crypto Wallet
The first thing that you’ll need to do if you wish to wager with BTC is to own a wallet. A crypto wallet is a software or hardware device that allows you to store digital coins. So, if you already have a wallet, you can skip to the next instruction if you don’t just create one.
Creating a crypto wallet is also a simple process, and it starts with selecting the type of wallet that you want. There are two types of wallets to choose from: software wallets and hardware wallets.
Software wallets are online platforms or mobile applications that allow you to store your coins on the internet. Hardware wallets are pieces of hardware (usually USB-shaped) on which you can store your digital coins.
The advantage of software wallets lies in the comfort that they bring. You don’t have to carry them around and can access them from any phone or computer. Hardware wallets, however, provide better security, as they are safe from hack attacks since they’re not connected to the web.
After making your choice, you’ll only need to create your account in the wallet. This would allow you to have a private key and a public key. You’ll use the private key to access your account, while the public key will allow people to send funds to you.
Purchase Bitcoins
Now that you own a wallet, the next step is to get your hands on BTC. This is easy, as you just have to visit a cryptocurrency exchange. Cryptocurrency exchanges are online platforms that allow people to purchase cryptocurrency using fiat currency or other digital currencies.
When you visit the cryptocurrency exchange, you can create an account by supplying some basic information. You can then sign into your account, fund it, and use it to purchase your Bitcoins. After purchasing these coins, you can then transfer them to your crypto wallet.
To do this, you’ll be required to provide the public key for your wallet so that the funds can be transferred.
Select a Bitcoin Bookmaker
So, now you’ve got yourself some BTC and a wallet to store them in. The next step is to choose a good bookmaker to bet with. With the popularity of cryptocurrency staking websites, there are lots of bookmakers that you can bet with.
However, all bookmakers don’t provide the same service to punters. Some of them offer better gaming services than others, and these are the bookmakers to aim for.
Hence, if you want to bet on bookmakers with Bitcoin, you can follow the guide below. This would allow you to choose the best ones out there.
Examine Their Online Reputation
A good bookmaker will always have a good reputation among their customers. This shows that they treat their customers well, and these customers have many good things to say about them. So, before you bet on bookmakers with BTC, ensure that the platform has a good online reputation.
Examine the Different Odds Available
Fractions, decimal, and American odds are some of the most popular. Many people are familiar with all these odds, while others are familiar with just one. So, before you bet on bookmakers with Bitcoin, ensure that they have odds that you’re familiar with.
You should also consider the odds these platforms offer for your desired sports. The betting odds for particular sports are better on select staking websites. As such, you should make sure to choose a website that offers good odds for your favourite games.
Consider the Withdrawal and Deposit Speeds of the Site
Although fast transaction speeds are a hallmark of BTC casinos, the transaction speeds at these casinos differ. Some cryptocurrency sites offer faster transaction speeds than others. So, you should only bet on bookmakers with Bitcoin when you’ve confirmed their transaction speeds.
Examine Their Bonuses
All bookmakers offer wonderful bonuses, ranging from welcome bonuses to VIP programs, cashbacks, etc. Nonetheless, some bonuses are just better than others, and it’s your job to notice that. Before you bet on a bookmaker, ensure that it offers good bonuses for players.
You should also read the fine print (terms and conditions) of any bonus before going for it. This would allow you to determine which bonuses are genuine and which are fraudulent.
Open an Account with the Bookmaker
The next step is to open an account with your selected bookmaker. This process only requires simple information, like your email address and password. If the site requires more information, then you might have to supply your social security number, home address, phone number, etc.
Deposit Your Funds
The next step to betting on bookmakers with BTC is to fund your casino account. Here, you’ll have to log in and head to the “Cashier” or “Banking” section of the casino.
You’ll get the address of your casino wallet and input it into your crypto wallet. With this, you’ll be able to transfer funds into your casino account.
Start Playing
Now that you’ve got your Bitcoins in your casino account, you can choose your preferred game and start betting on it.
Conclusion
To bet on bookmakers with Bitcoin, you’ll need to own BTC and a crypto wallet. When you own them, you can choose a trustworthy bookmaker, open an account with them, and fund your account. This article covers all that you’ll need to know to bet on bookmakers with Bitcoin, so you can get started.