Gambling with Bitcoin: There are many ways to gamble in the modern world, but few are as fresh and exciting as Bitcoin. Bitcoin has taken over the world and introduced the world to cryptocurrency. It’s entirely natural, then, that the next step in that process should be casinos and betting sites moving to accept Bitcoin as well.
For those with no familiarity of the subject, though, the barrier to entry can seem insurmountable. How do I get started? How do I buy Bitcoin? What’s the most effective way of gambling with it?
Well, I’m here to answer all of these questions for you today. So, let’s get started.
1. Open a wallet
Firstly, you’re going to need somewhere to store your coins. There are many wallet services offering places to store your Bitcoin. There are at least 82 different options for places to store your Bitcoins, and each has unique advantages.
The process is, it must be said, somewhat complex at first. You’ll need to take a bit of time to look into the nuts and bolts of exactly how it works. That will give you an idea of what wallet will work best for your needs.
Electrum is one of the most popular wallets, and is simple and easy to use. There are a lot of advanced settings, but you can largely ignore these for now.
2. Find a suitable site
Once you’ve found somewhere to store your coins, now you should decide on which site you want to use. This will depend largely on how you want to bet. Are you a sportsbook bettor? Do you like to play casino games? Not all sites will offer everything, with some focused on gambling, while others specialise in betting.
Once you’re sure what kind of betting you want to do, then look at reviews of relevant sites. Check that they have all the up-to-date security features, and that your coins and information are safe on the site.
There may be a choice to make between a dedicated Bitcoin betting site and a more traditional betting site with Bitcoin as an option. Both have advantages, though you will likely be able to make better use of the advantages of crypto on a Bitcoin only site.
The other thing to consider is the welcome bonus.
3. Make use of welcome offer
Just like their non-crypto counterparts, pretty much all Bitcoin betting sites are going to come with a sign-bonus when you get started on the site. This can take a number of forms, though most commonly is that you’ll get X amount in free funds for your first deposit of Y amount.
These are a really great way to make an essentially risk-free bet on the site, and get to grips with how it actually works. You can try out Bitcoin betting without risking any of your actual coins. If you make a winning, that’s free money!
This should also be a factor in how you choose the site you use. As I said, pretty much all sites will offer some kind of welcome bonus, as well as ongoing promotions. This is the primary way that sites compete with one another, so you can be sure that how lucrative their welcome offer is is a good overall indicator of the quality of the site.
With the added step of securing your cryptocurrency, then, Bitcoin betting really isn’t that different from ordinary, traditional betting. Getting to grips with securing your crypto is the first step, and can seem like the biggest. Once you’ve done this once, though, it will be much easier and smoother on all future occasions. The future is in Bitcoin.
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