Updated: December 30th, 2020
These days, betting sites list lots of great banking options but cryptocurrency is best by far because it’s quick, free, and guarantees 100% anonymity. Numerous American players have already switched, with more adopting the revolutionary technology everyday. In particular, anyone wanting to gamble for real money without using a credit card or Western Union, leaving a detailed paper trail behind.
For those new to this world, crypto is an online exchange system employing blockchain technology, an advanced encoding technique that secures and verifies the creation of monetary units and encrypts transactions. It may sound complicated but they’re basically just “digital coins” possessing tangible value that can be traded for other currencies and most importantly, used to send payments to iGaming accounts. It’s not regulated by banks or governments, 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 it involves fewer resources. It’s totally legal in every country except for oppressive dictatorships and permitted in the United States, United Kingdom, Canada, Australia, and most 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 as this, so it’s definitely a perk of playing there. For reference, LTC usually has lightning-fast fulfillment times and ETH is cheapest and most flexible, 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 others, they enable funding BetOnline accounts with USD which can be spent in their casino, sportsbook, or poker room, with winnings returned the same way. In this era it’s hard to protect privacy but utilizing crypto ensures transfers are always kept secret. Information is fully protected and only identifiable by its public address so it’s extremely difficult for someone to track its origins.
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, credit card companies becoming vigilant in regards to where clients are authorized to make purchases. The simple truth 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 exchanges and procurements 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 location and buying method in order to provide a tailored, situation-specific recommendation.
Here’s a comprehensive video explaining how to open an account at Coinbase Exchange, a larger service welcoming American residents, which is roughly an identical procedure regardless of destination.
After coins are obtained and display in the dashboard it’s necessary to redirect them to digital wallets for trading. Tons of different ones accomplish this, many charging 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 send balances in and out of the wallet. Some recommend Coinomi (including BOL), however, personal preferences will probably affect decisions. Look and feel could contrast greatly, although functionality is invariably similar.
The following tutorial demonstrates how to procure alt coins and place them into a wallet, using aforementioned Coinbase as an example. Again, countless operators follow equivalent routines, with perhaps small inconsistencies such as where buttons are located, etc.
An alternative is Bitcoin ATMs allowing purchases from a physical machine, which can be located through Google Maps or similar 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). Seven (7) distinct steps must be completed, 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 exact one can be sent or otherwise it’s lost forever. Press
Continue and pick a predetermined sum or type in another number via the helpful keyboard tool.
Next enter a code or hit
View Promo Codes to peruse offers and choose, tapping
Select Bonus to proceed, an address to send to is then finally populated. Click
Copy to save the long unique string of characters and paste it into the wallet, which should be open in another tab (entry location will vary).
All software is slightly different so it’s a good idea to understand precisely how it works before starting. Sometimes an ambiguous address popup appears necessitating highlighting the desired coin from a list, 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.
Return to BOL and select
Complete My Deposit to see a message stating the transaction (with identification number) is unresolved and awaiting confirmation to 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 is just as swift and effortless. Keep abreast of minimum and maximum transfer amounts, any updated terms, and coins taken because permissions 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.