New technology in bitcoin betting
Bitcoin betting is one of the latest technology that has been brought by blockchain technology in the betting industry. The rise in bitcoin technology has come up with better ideas that make betting more straightforward. To bet, you are only needed to deposit funds into your bitcoin bookmaker account. The transaction cost is meager hence making bitcoin betting to move very first in the betting industry. Through technology, you can easily get betting tips from the stakehunters account on what to place. This has led to an increase in bitcoin betting around the world as people can place, earn, and withdraw their earning. This article will guide you on how easily bitcoin betting is changing the world in the betting industry.
How to Create a bitcoin wallet?
Before you start bitcoin betting, you need a wallet that will function as your bank in the cryptocurrency world. Your portfolio can be used to buy and sell bitcoins anywhere around the world. Use the following steps;
Steps 1: choose a bitcoin wallet
Several types of bitcoin wallets exist, such as Coinbase, Trezor, Electrum, Blockchain, Robinhood, Exodus, etc. Some offer you an opportunity to use it on the website while others you can use as a desktop client. The most popular wallet to use and well-rated is Coinbase. It is best to use and is found on several websites. Also, it does not require any additional software to operate.
Step 2: Open an account
After getting the best wallet, you need to open an account with it. In most bitcoin wallets, you are only required to provide your name, email address, and passwords. Ensure that you use a strong password for security purposes. Open an account that you have thoroughly researched about and you trust them with your funds.
Step 3: Activate your wallet
Activating your account means you verify your email address through a lick sent. The link will be accessible in your email address, and after clicking it, your account will be active and ready to use.
Step 4: link your phone number and other personal details
You will need a phone number just in case you forget your login details or are stolen by hackers. After verifying your number, you will need to add more personal information to your accounts, such as a physical address, city, postal code, and date of birth.
Step 5: Verify your identity
After linking your details, you need to prove it’s you; you will be required to provide your Id or driving license to prove it’s you. Also, a picture of you is needed, and this is the final step before funding your account to start trading. You are required to send photos in Hd so that they can easily be verified that it’s you.
Step 6: Register a payment method
The different wallet has a different payment method, and the most convenient way is the use of debit/credit cards and bank transfers. Also, the PayPal account works better on some platforms. After successfully adding a payment method, fund your account to start betting. Don't use plagiarised sources.Get your custom essay just from $11/page
How to bet using bitcoin?
After getting a bitcoin wallet, you need now to know how to place a bet using the bitcoin technology. You need a sportsbook account for betting. Follow the following steps to start betting;
Step 1: Register or a bitcoin bookmaker account
There exist several bitcoin sportsbooks such as Cloudbet, nitrogen, bitcoin, mbit, and directbet. The accounts differ in the odds, deposit bonuses, and limits. You need to choose wisely the best sportsbook to bet with. After choosing, sign up for an account, and it only requires your email address and password.
Step 2: Fund your account
From your wallet, you can directly fund your sportsbook. This is done through the use of your bitcoin address, which is usually unique. You will have to confirm the payment to the sportsbook from your bitcoin wallet. The funds will be available once you confirm.
Step 3: Choose a market and place a bet
The bitcoin bookmakers are almost the same as the traditional form of sportsbook betting. You will find a list of events on the website. The good thing is that you can use stakehunters betting prediction to get tips on the best pick. It is effortless to bet and wait for the results.
How to withdraw your funds to bitcoin bookmaker?
After placing a bet, you will wait for the event to happen, and all your earning will appear in your bitcoin sportsbook. Now you need to withdraw your earning. Follow the following steps to withdraw.
Step 1: Withdraw from sportsbook to your wallet
To get your earning, you need to withdraw the fund from the bookmarker to your wallet, and this is an easy step as you only require your bitcoin address. The bitcoin address is found in your bitcoin wallet. Ensure you copy the address as it is since your funds will be sent there. After withdrawing, your fund will be available in your wallet in less than an hour.
Step 2: Withdraw money from your bitcoin wallet
When the fund reaches your wallet, it comes in the form of bitcoin, and you can use it to buy things online. You can also convert it to a traditional way and withdraw it to your local bank account. The steps may appear to be a little bit challenging, but I assure you that the moment you follow keenly, it will be easier for you to place a bet and earn.
Advantages of bitcoin betting
Unlike other traditional forms of betting, bitcoin technology brings you the best betting experience with vast benefits. The following are some of the benefits you get;
- Faster and efficient deposits/ withdrawals
- Higher betting odds
- High deposit bonus
- Lower transaction fees
- Wide acceptance of payment methods
- More privacy unlike the traditional forms
- More reliable
To conclude, bitcoin betting is becoming the most comfortable and essential form of betting. Currently, millions of people are making large sums from betting with bitcoin, and it is expected that this will continue rising due to the growth in blockchain technology in the world.