Learn How to Use Bitcoin for Betting

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Bitcoin might sound intimidating — digital cryptocurrency using blockchain technology doesn't exactly roll off the tongue — but it is truly simple to get started, even for a complete beginner. This is why Sportsbook Review created the how to use bitcoin for sports betting tutorial.

It all starts with creating an account at any bitcoin exchange where you can buy and sell bitcoin. One of the simplest exchanges to get started with, as shown in the tutorial, is Coinbase.com. You will need to provide your personal information and associate a bank account with Coinbase; this will be how you convert your bitcoin to cash when you are ready to sell bitcoin back to the exchange.

For added privacy, many users opt to create a third-party bitcoin wallet to handle the bulk of their transactions to sports betting sites. Blockchain.info is one of the quickest and easiest to create, literally requiring a minute of your time or less and zero Know Your Customer (KYC). Transfer to and from Coinbase using this bitcoin wallet, as well as any merchant you wish including online sportsbook cashiers.

That's really it! You don't have to know even a cursory amount about bitcoin to create an exchange and bitcoin wallet. Once both are setup, simply hit send or receive, and if you are sending you will copy and paste the payment address your sportsbook gives you, and if you are receiving you will copy and paste the payment address your wallet or Coinbase spits out and give that address to your online sportsbook.

Discuss bitcoin with fellow sports bettors at the bitcoin betting forum.

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