Many sources usually talk about Bitcoin and how it is used today, but very few tell us how bitcoins can be used in gambling sites. In case you already know that you want to use Bitcoins to gamble, then this is the right article for you. In this article, we are going to talk about the various steps you need to follow so that you can learn how to use bitcoins. You could seek more assistance about bitcoins being used in gambling from dAppgambl.com.
The steps you need to follow are;
1. Open a Bitcoin wallet
A bitcoin wallet is a site where you can buy and sell Bitcoins. Some bitcoin wallets are software wallets but our primary focus is on hosted wallets. A hosted wallet is a way to store your Bitcoin through a third party the same way you would store money In a bank for later use. In layman’s language, having a hosted wallet is trusting a particular organization with your bitcoins.
Having a bitcoin wallet is like having a PayPal account where you will use your credit card or debit card to load money onto the wallet. You can use this wallet to make purchases or load the money into your wallet. The only difference between a hosted wallet and a bank is that when your money is in a hosted wallet, you could easily convert it into Bitcoins to go on with your transactions.
2.Deposit money into your Bitcoin Wallet
The moment you have set up your account, the next thing is to deposit money into your account. Before you buy your Bitcoin, look at the figures first so that you don’t buy it when it is fluctuating. You can deposit into your Bitcoin account through a debit or credit card, or you can link your account to your Bitcoin wallet. All these methods work the same; you need to choose the one that works for you.
3. Deposit your bitcoin into the casino or sportsbook
The moment your money has been deposited successfully onto your Bitcoin wallet, it’s ready to be deposited into the casino or sportsbook. All you are required to do is to navigate to the deposits page of the casino or sportsbook you want to play at and click on the Bitcoin option. After you have clicked the Bitcoin option, you will be given instructions that you can make the deposit easily. It will take you a few minutes to carry out this particular transaction.
4. Withdraw your winnings
Once you have participated in your tournaments, it’s time to withdraw your wins. You only have to process a withdrawal through the online sportsbook or casino you are playing at, and your money will be transferred into your Bitcoin wallet.
As a gamer who wants to use Bitcoin as a form of payment, you need to know if the bitcoins are fluctuating or not before you invest in them. Other than that, this article has given you oversight on what to do when you want to use bitcoins at gambling sites.