These days, betting sites list lots of great banking methods but cryptocurrency is best by far because it’s quick, free, and offers virtually 100% anonymity. Numerous American players have already switched, with more adopting the revolutionary technology every day. In particular, anyone who wants to gamble for real money without using a credit card or money order, leaving a detailed paper trail behind them.
For those new to this world, crypto is an online money exchange system using blockchain technology: an advanced encoding technique that secures and verifies the creation of monetary units and encrypts the transactions. It may sound complicated but they’re basically just “digital coins” possessing tangible value that can be traded for other currency and most importantly, used to send payments to iGaming accounts. It’s not regulated by any bank or government, rather through a decentralized network controlled solely by its developers (who of course swap work for coins).
By cutting out middle men it’s less expensive than eWallets or 3rd parties since there are less hands to pass through. It’s totally legal in every country except for oppressive dictatorships and permitted in the United States, United Kingdom, Canada, Australia, and other English-speaking regions around the globe.
There are thousands of unique coins and industry-leading BetOnline accepts popular choices Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Ripple. Not all sites facilitate as many options as this, so it’s definitely a perk of playing there. Remember LTC usually has lightning-fast transaction times and ETH is cheapest and most flexible. For reference, current market valuations at time of publishing are 1 BTC = 50 ETH or 131 LTC.
Why Use Crypto for Online Gambling Deposits?
Whether it’s Bitcoin, Litecoin, or anything in between, they enable funding BetOnline accounts with USD which can then be spent in their casino, sportsbook, or poker room, with winnings being returned the same way. In this era it’s hard to protect privacy but using crypto ensures iGaming transactions are always kept secret. The information is fully protected and only identifiable by its public address so it’s extremely difficult for someone to track origins of transfers.
This “built-in discretion” was the main reason “BOL” added them to their Cashier a few years ago, as members complained about failure rates of VISA and MasterCard as credit card companies became vigilant in regards to where clients are allowed to make purchases. The truth of the matter is everyone in the U.S. is going to have to switch to alt coins sooner or later so you might as well learn how to do it now.
How to Buy Cryptocurrency
Cryptocurrency is traded on regulated exchange services and procurement processes are absolutely safe and secure once new profiles are verified. Finding one is painless by visiting Buy Bitcoin Worldwide or comparable guide, which asks for your location and buying method in order to make a tailored, situation-specific recommendation.
Here’s a comprehensive video explaining how to open an account at Coinbase Exchange, a larger service accepting American residents, which is roughly the same procedure regardless of destination chosen.
After coins have been obtained and display in the dashboard, it’s then necessary to send them along to a digital wallet for trading. Tons of different ones accomplish this – do a little research to determine which is most appealing. Many charge fees so check rates prior to signing up to make sure they’re agreeable.
The final step is a platform to buy and sell from to transfer balances in and out of the wallet. Some recommend Coinomi (including BOL), however, personal preferences will probably affect decisions. Look and feel can contrast greatly although functionality will invariably be similar.
The following tutorial demonstrates how to procure alt coins and place them into a wallet, using aforementioned Coinbase as an example. Again, countless places follow an identical routine, with perhaps small differences visible such as where buttons are located, etc.
An alternative option is a Bitcoin ATM allowing purchases from a physical machine, which can easily be located using Google Maps or another geo-mapping program.
Deposit and Gamble with Crypto at BetOnline
Once everything is set up and ready to go, log into your BetOnline account and tap the huge green deposit tab in the upper right hand screen corner, (it’s on every page). There are seven (7) distinct steps to complete, which might sound like a lot at first, but after a couple of times it becomes ridiculously easy.
Firstly, a big circle appears displaying current balance; tap the red “Deposit” button underneath and scroll down to “Cryptocurrency” on the lefthand side. A new page loads five icons for each accepted coin and upon selecting one a warning reminds only that specific currency can be sent or otherwise it’s lost. Press “Continue” and pick a sum from predetermined options or type in a different number via the helpful keyboard tool.
Next enter a code or hit “View Promo Codes” to peruse current offers and choose, tapping “Select Bonus” to proceed. It’s then the system finally populates an address to send to. Click “Copy” to save the long unique string of characters and then paste it in your wallet, which should already be open in another tab (entry location will vary).
All software is slightly different so it’s a good idea to understand exactly how it works before starting. Sometimes an ambiguous address popup appears and highlight the desired coin from a list is required (again being careful it matches what was originally chosen). Submit crypto amount and the USD equivalent is shown, if correct click “Send” and confirm with wallet password.
Then return to BOL and select “Complete My Deposit” to see a message stating the transaction (with identification number) is unresolved and awaiting confirmation and will be credited to account upon validation. It stays “pending” until at least six blockchain affirmations are achieved, with funds available once finished and ready for immediate wagering.
Afterwards withdrawals can be sent the same way, which will be just as swift and effortless. Stay current on minimum and maximum transfer amounts, any updated terms, and coins taken because things may occasionally change.
For a thorough guide detailing depositing and gambling at BetOnline with cryptocurrency, watch this brief video documenting the entire process from beginning to end.