One of the best places to start when introducing yourself to the world of online gambling is understanding Bitcoin -- the largest online currency used for betting today. Bitcoin comes with a handful of groundbreaking features that fit well into the online gambling space, that’s why it’s the best time for new gamblers to discover this new betting platform. In this short Bitcoin guide, we’ll help you
How Bitcoin Works
Bitcoin allows users to engage in digital transactions better than they’re used to. It’s a decentralized platform that bears no singular authority, giving users more freedom to control their money instead of relying on traditional financial systems for effective money management. Using the blockchain technology, Bitcoin transactions are highly accessible for cryptocurrency users everywhere, and payment processes are made faster, cheaper, and secure.
Getting Started with Bitcoin Gambling
Secure your Bitcoin wallet
Just like in real life, you need to have a safe place to store your cash. Since Bitcoin is all-digital, your wallet can be a mobile app or a computer software you can open anytime. Free wallets are available for major crypto systems, Coinbase is a good example. You’ll use this wallet to buy, send and receive Bitcoins, so this Bitcoin guide highlights the importance of learning how to use your wallet.
Get your Bitcoin
The easiest way to acquire Bitcoin is to buy it off an online exchange. Since we’ve mentioned Coinbase, we’ll use this example for purchasing Bitcoins as it also works as a Bitcoin exchange site. Just like buying another currency, you use your regular cash (fiat) to get Bitcoin, depending on the current market price.
Create a betting account
To start placing bets on sports, esports or casino, you’ll need to sign up to a bookmaker that accepts Bitcoin, like Nitrogen Sports. Since Bitcoin betting is anonymous, all you need is a unique username and a password.
Deposits and withdrawals
And finally, the crucial part of this Bitcoin guide: topping up your account and withdrawing your earnings. Using your wallet, you can deposit coins into your betting account or transfer your winnings by simply providing your wallet address, and the system will process it within minutes.
Nitrogen Sports is one of the first sportsbooks that offer a multi-channel platform in online gambling. Bettors get the opportunity to place their bets on sports, esports and play casino and poker all in one place. But at the forefront of this well-rounded wagering experience is the use of the biggest cryptocurrency in the world, that is bitcoin.
This is the newest addition to the growing landscape of online betting and if you want to learn more, the sportsbook offers an all-encompassing instructional content over at Nitrogen Sports Blog where latest news, updates, matchups, betting lines and bitcoin betting guides are published for free.