How Bitcoin Works Guide with Instructional Video

Although it has been around for some time now, the world is still getting used to the Bitcoin process. Well, to make things easier to comprehend, Bitcoin has a very similar platform to Pay Pal. You register your account/create your wallet, deposit, shop and make transactions.

It’s a very simple process, but because it’s new, it’s always a little daunting to first-timers. So let this video and step-by-step give you a hand getting started. Then, once you’re up and running, we’d love to be your sportsbook of choice for you Bitcoin betting needs.

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How Bitcoin Works Instructional Video

If you think you’ve got the process down, please check out our How Bitcoin Betting Works at TopBet video here to get started. That video will only take about 80 seconds of your time and then you’ll be good to go in our Bitcoin-ready sportsbook. Now, if you’re still thinking a step-by-step would be helpful, here you go…

1. The Wallet

For starters, you may be a little confused about the term. Well, think about it this way and things become much easier; a ‘wallet’ is a fancy word for your account. They act and perform the exact same.

When selecting, we do recommend that you use either Coinbase, Blockchain or CEX, based on their reputation and simplicity, but the choice is up to you. There are dozens of wallet sites out there that work well and are quick and easy, with hundreds – if not thousands – more in production. So, by all means, take some time and Google until you feel comfortable that you’ve met your match.

2. Purchasing Bitcoin

Now that you’ve picked your wallet site, the purchasing part is very easy. In fact, you have three options for this. You can purchase your desired amount of Bitcoin (the same as you would any other currency) online from any of these recommended websites. You can bank wire money to your wallet/account or you can use an ATM.

Now, keep in mind, Bitcoin ATM’s aren’t that abundant and can be difficult to find depending on your location. If you can track one down though, they accept credit, debit and some even take cash straight up in exchange.

3. BTC Exchange Rate

Again, we’re going to send you back to one of our recommended wallet sites CEX.io. They have a very user-friendly template and presentation along with live updates. So you can see how your currency is reacting and performing that day in real time.

4. Purchases

The actual purchases and exchanges work very similar to that of any other type of online transaction. The only difference is an extra step. Well, and this doesn’t count as a step, you’ll need to download your wallet site’s smartphone app for mobile transactions before you get started.

Now when you get to the purchase screen using your phone, you’ll need to snap a shot of the QR code using the app. Meanwhile, if you’re using your computer, you’ll need to copy the URL token given and paste in to your wallet.

If you feel that you still need a little more help on the topic, you can call our customer service department any time, and with absolutely any questions, at 1-877-528-6748.

Create a betting account now to start depositing and betting with Bitcoin!

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