Some gamblers are intimidated by the process of switching to Bitcoin, but it is really quite easy. The first step is to download a Bitcoin wallet to your laptop, iPad or mobile device. After that, look for a Bitcoin exchange and make sure it functions in your country of origin. This is an important step, as not all exchanges work with United States banks. Kraken, Coinbase and Gemini are a few of the exchanges that are available to United States customers that can be used as your Bitcoin wallet.
Once a Bitcoin exchange is set up, link it to your personal bank account. The money from your bank will be converted from U.S. dollars to Bitcoin in the secure wallet. When the money is in the wallet, you can then use it in your bankroll at a sportsbook like BookMaker.eu. The funds will be transferred using an anonymous address that you can cut and paste. Start with a small amount so that there are no issues, and once the transfer works, you can be more confident in the process. To check the status of the transfer, you can go to Blockchain.com and enter the address into the search box.
One important thing to remember is to not transfer funds directly from the Bitcoin exchange to the online poker site and sportsbook. A secure wallet should be used as an intermediary, as most exchanges technically prefer that customers not use the exchange for the purpose of gambling.
When making the transfer, don’t leave the Bitcoin in the exchange. The money should be moved to your sportsbook immediately in order for everything to go smoothly. For larger transfers, it is a good idea to break them up. As always, make sure that the bitcoin address is correct.
It is also prudent to back up your secure wallet. You will get a series of words or a long password, so make sure to write them down in that order and put it in a secure place. It’s essential in case the device you used to create the account stops working. Keep the password out of your email to avoid hacks. The last thing you want to do is lose your Bitcoin.
While there are a few hoops to jump through initially, those who switch to Bitcoin find out it is an anonymous and cheap way to fund and withdraw at sportsbooks like BookMaker.eu. Make sure to use a two-factor authentication when logging into your Bitcoin exchange to avoid hacking.
Bitcoin is the preferred method to make deposits and withdrawals at online sportsbooks. Give it a try, and consider it another win on your ledger once you get the hang of it.
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