Without a reliable payment method option, online betting wouldn’t exist. Cause by the necessity of a proven payment method being the fuel of offshore gambling. Expertise and knowledge used to win money by betting on casino games and sports wouldn’t matter. And that is where Bitcoin comes into play. Bitcoin just didn’t revolutionize the online gambling industry. It didn’t even transform it into the behemoth that it is. For all that, Bitcoin may have saved the online gambling industry itself. A Bitcoin Sportsbook offers benefits found nowhere else.
What is Bitcoin?
Bitcoin is a cryptocurrency, or a digital money system spread globally. Thus, with Bitcoin, there are no bills or coins. The currency is stored online in the so-called wallets and traded on BTC exchanges.
Specifically, a Bitcoin wallet is similar to a bank account. You can use your Bitcoin wallet for purchases or money transfers. The only difference is that all transactions are done electronically with the cryptocurrency.
Bitcoin is a decentralized currency. There is no government or related authority that controls BTC. Instead, every user has access to what is known as the blockchain. A blockchain is a system where all Bitcoin transactions take place.
The combination of transparency and anonymity is one of the main reasons behind the success of BTC. Correlate this is why online gambling with Bitcoin has proved so popular.
First Step – Sign Up for a Coinbase Account
At the onset, sign up for an account at the Coinbase website. The process is straightforward. Sign up requires a name, email address, and password. It is best to use the most random password possible. Specifically, your password should have a combination of lowercase and uppercase letters, numbers, and special characters. Remember, Bitcoin is money and a target of hackers. Security is of the utmost importance. Therefore, make sure you create a unique password that is different from the other ones you utilize.
From there, Coinbase will send you a confirmation email. And then, once you receive that confirmation email, you are ready to log in at Coinbase.
Second Step – Two-Factor Authentication
From this point, Coinbase will prompt you to add two-factor authentication. This enables an extra layer of security to your account. Two-Factor authentication is easy to utilize. Every time you sign in, you will be required to enter a pin code from your cell phone to gain access. This prevents unauthorized access to your Coinbase account. Cause by anyone trying to gain access will have to know both your password and have access to your mobile phone.
As an extra convenience and security step, Coinbase also allows you to add a backup phone number. To show, you may use a friend or relative if you lose your primary phone. There is a reset process to go through if you lose your phone. But having a backup phone verified on your account speeds up this process. In turn, these security steps make Bitcoin the preferred choice at CashBet Sportsbooks!
Third Step – Link Coinbase and Your Bank Account
You must use the regular currency to purchase Bitcoins. It follows that you will link your bank account to your Coinbase account to verify deposits beforehand. So that the account is linked. Debit cards linked with bank accounts facilitate instant purchases. Once you have confirmed your bank account and debit card, you should have instant buy ability.
If you do not have instant buy capability after following the steps, it may not be available instantly after purchase. Hence, you may have to wait a few business days before instant buys are available.
Once you get the green light, there is a screen you’ll see to enter the amount you want to buy in either USD or Bitcoin. Next, your method of payment is below the amount you’re looking to buy. The fee structure is underneath the form of deposit.
Final Step – Acquisition of Bitcoins for Online Wagering
Coinbase charges users a one-percent fee when buying bitcoins from a U.S. bank account. Once you click the “Buy Bitcoin” button, the Bitcoin currency will arrive in your wallet in a matter of minutes. As long as you have instant buys enabled. Important to remember is that instant buys are possible ONLY with a credit or debit card. Instant buys aren’t available with a bank account. When your transaction finishes and the Bitcoin currency is in your account, you can then say with joy, “Gentleman, place your bets!”
In view of this process, you will quickly be amazed at how simple and secure Bitcoin is. Bitcoin has rendered all other payment methods obsolete. Nothing can match it. As a matter of fact, Bitcoin clients believe in the product so much that they have begun investing in it!
Advantages of Bitcoin at Sportsbooks and Online Casinos
You may have noticed the meteoric rise of Bitcoin on the stock markets. To show, its price is skyrocketing. And will plenty of good reason. This Bitcoin Revolution extends far beyond sports betting. It is becoming the currency of the world.
Regardless of country, gamblers love speed, convenience, simplicity, and reliability. Online casinos and sportsbooks love those things too. The last thing that a bettor or sportsbook wants is a hassle. And that is where Bitcoin shines above all others. In view of Bitcoin’s proven performance, it has become the payment method of choice at the best online sportsbooks.
Because the online offshore sportsbooks and casinos prefer Bitcoin, they make it worth your while to use it. At Bitcoin sportsbooks and casinos, you are rewarded for using the world’s most proven payment method. Signup, reload, and loyalty bonuses are the highest for Bitcoin users. Check the house bonus structure or for prominently displayed Bitcoin promotions wherever you bet.
Online betting is supposed to be a fun and entertaining escape. Or a way to make a living for professional gamblers. Either way, Bitcoin lets everyone do what they want, which is to bet games and make money. Gamblers know that with Bitcoin, they will be paid lightning-quick and without a hitch.