Sports betting have become the favorite pastime for many people today. Today, people are using bitcoins to make deposits on sports sites. However, not all the beginners who are taking a plunge into the world of sports betting sites are familiar with bitcoins usage. This is the payment mode that is accepted by the sites. You can deposit the amount in the account through bitcoins, and the withdrawal can also be done through bitcoins. It is difficult to set up and use bitcoins on the online sports betting site if you have no done before.
Here is the step by step guide you must follow to use bitcoins on the sports betting site.
Find a reliable bitcoin betting site
The first step is to find the sports betting site that accepts bitcoin. The site must be reliable and assures you with the fair play. You can go through the site reviews to choose the one that is meeting your betting requirements. There are a few sports bettors who would suggest you with the reliable sites. You can talk to those players to sign up with the genuine sites.
Select the best crypto exchange platform
If you want to use bitcoins for betting, you must first buy them. There are many cryptocurrency exchange sites where you can buy the bitcoins for fiat currency. The fee that is charged by these sites would be different from one crypto exchange platform to another platform. When you find the best and reliable crypto exchange platform that meets your requirements, the next thing you have to do is to sign up with the exchange. While registering, you have to provide your details such as email address, full name, residence address, etc. You can verify the identity by providing the passport or driving license copy. You can read more here at techdee.com
When you set up the crypto exchange account, you have to move the bitcoins into the account. Initially, the fiat amount should be deposited into the new account. This can be done through credit or debit card transfer. The exchanges would offer only limited options. When you deposit this amount in the account, you can use this money to buy bitcoins. You must check the exchange rate before purchasing the bitcoins and instructions to complete the purchase. Based on the bitcoins you are planning to buy, the transaction can take a few minutes.
Setup the bitcoin wallet
You can’t transfer the bitcoins in the cryptocurrency exchange account to the online sports betting account. The best way to do is through a bitcoin wallet. The wallet is where you safely and securely store the bitcoins, which you can use to make online purchases or deposit or withdraw the amount from the sports betting sites. The cryptocurrency exchange is where you buy bitcoins, whereas the wallet is used to carry out a bitcoin transaction. There are different types of bitcoin wallets available, and each comes with pros and cons. Choose the one that suits your needs.
Transfer bitcoins to the wallet
When you set up the wallet, you transfer the coins from the cryptocurrency account to the wallet. For this, you have to copy the wallet’s address to which you want to receive the bitcoins and then paste this address in the respective field of the cryptocurrency exchange account. You can enter the number of bitcoins you would like to transfer. There are a few exchanges that offer you the QR code option. This saves time.
Create online sports betting account
The bitcoins are transferred to the wallet, and now you are ready to deposit them in the sports betting account you have created. You must choose the reliable site to sign up for the registration process. The process would be similar to that of the cryptocurrency exchange platform. You have to provide the personal details and verify the identity. You can choose the currency in the registration process, wherein you have to select bitcoins (BTC).
Deposit the bitcoins
The last step is to deposit the bitcoins in the account. You have to go to the site’s cashier page and select bitcoins from the payment options available. Type the number of coins you want to transfer to the account. You must copy the betting size address and go to the wallet. This must be pasted in the respective field of the wallet to make the deposit successfully.