Bitcoin Exchange Coinbase Strengthened by Circle's Exit
Circle, one of the biggest US facing bitcoin exchanges, announced today that it would no longer operate as a traditional bitcoin exchange where users could buy and sell bitcoin.
Circle will focus on its mobile app business and other usages and recommended their existing users cash out their bitcoin or transferred to a preferred partner such as Coinbase.
The price of bitcoin ($763) has seen no immediate movement following the announcement. While an inconvenience to users who only used Circle to buy and sell bitcoin, many sports bettors at SBR Forum have given more positive feedback on the ease of use, limits, and software offered at Coinbase, the world's largest US facing bitcoin exchange.
Bitcoin allows sports bettors to place a sports bet without incurring costly fees or having to deal with declined transactions and a headache all to sprinkle a bet on their favorite team. To get started with bitcoin, users would register an account with Coinbase and link a bank account, and a debit/credit card if desired, though the latter costs over 3% while buying through a bank account is just 1%.
Once bitcoin is loaded in your Coinbase account, reader feedback suggests transferring to an intermediary bitcoin wallet for added privacy such as a digital wallet offered through Blockchain.info. Using Coinbase a player can simply click send and copy/paste their Blockchain payment address and then be ready to roll. Readers can compare the differences between bitcoin sportsbooks before deciding where to wager.
Users who are unable to create an account with Coinbase or who are looking for other options which allow for additional currency trading may be interested in setting up a BitStamp or Kraken account.
Got Questions About Bitcoin?
SBR Forum has a dedicated section for discussing bitcoin. Share your experiences with fellow gambling enthusiasts and bitcoin speculators and ask any questions you may have about the digital currency.