How to deposit with Bitcoin?

How to deposit with Bitcoins?

Cryptocurrencies are becoming very popular when it comes to online gambling. Bettors are now able to make deposits and withdrawals with Bitcoin and other cryptocurrencies. However, a lot of people are new to this and still don’t know the process of depositing their Bitcoins to an online casino. For that reason, in this article, we are going to explain how to deposit with Bitcoin?

There are a lot of websites that can handle these transactions and below we will share the details on how to do that with one of the most popular sites out there. Depositing with Bitcoin is easier and more straight-forward than what most people think.

How to deposit with Bitcoin?
Deposit with Bitcoin

Bitcoin Sport Betting

Bitcoin should be the “go to” currency for any experienced bettor. It’s a decentralized digital currency, which means that it is a currency without governmental supervision or third parties that you can buy or sell. Additionally, you can invest in this currency and use that investment in the future. So before we explain how to deposit bitcoin on Coinbet24, here are some of the advantages to bitcoin betting.

  • Bitcoins allow anonymity. Since, you don’t have to give out any personal or financial information to create a crypto wallet, it means the process is completely anonymous. So, if you decide to get an account with a online bitcoin bookmaker and you deposit bitcoin, no one will know about it.
  • Bitcoin payments are processed much quicker than with any other currency. Depositing is instant while withdrawing won’t take longer than an hour. Standard bank transactions take between 5 and 7 days so do the math yourselves.
  • There are no third parties involved in the process. For that reason when you deposit and bet with bitcoin, there are zero or very low commissions when you withdraw funds.
  • Last but not least, there is one more big advantage for experienced bettors. Bitcoin betting allows for depositing and betting with much larger amounts.

How to deposit with Bitcoin?

As you may know, to be able to do any kind of transactions with Bitcoin, you will need a bitcoin wallet first. In this article, we will cover the process of depositing bitcoin through Coinbase. Once you have a Coinbase account and wallet, the process of funding that account or withdrawing from it is very simple.

Send cryptocurrency to your Coinbase wallet

Sending cryptocurrency from another exchange or hardware wallet: 

  1. Open the trading view at pro.coinbase.com/trade
  2. ​On the left-hand column under Wallet Balance, select the Deposit button
  3. In the Currency Type field, select the cryptocurrency you wish to deposit. Warning: only send supported currencies to Coinbase 
  4. Copy the account address shown. This address will be permanently associated with your account
  5. Open the external wallet you would like to send from, enter the unique address associated with the exact cryptocurrency you intend to send, and select the send button. (Warning: Currency sent to wrong cryptocurrency wallet may be unrecoverable (only send ETH to the ETH address, BTC to the BTC address, etc)

Deposits are available on the Pro mobile app by going to the Portfolios page and tapping the Deposit button in the top right-hand corner.

Withdraw cryptocurrency

In order to transfer cryptocurrency from your Coinbase wallet to another exchange or wallet, you’ll need to obtain a destination address from that exchange or wallet. To complete a withdrawal on web:

  1. Open the trading view at pro.coinbase.com/trade
  2. On the left-hand column under Wallet Balance, select the Withdraw option
  3. In the Currency Type field, select the cryptocurrency you wish to send
  4. Under the To field, specify the external wallet address you’d like to send the cryptocurrency to. If you have this address saved in your Address Book, you can search for it by nickname or the first few characters of the address. If you have Whitelisting enabled, you may only list here an address whitelisted in your Address Book. Warning: cryptocurrency transactions are irreversible. Carefully review the blockchain address you have entered and send only to trusted addresses
  5. Enter the amount you’d like to send, then select the Withdraw option
Viewing your deposit and withdrawal history

All your properly completed deposits and withdrawals can be viewed on the Portfolios tab found on the top-right corner of the trading view. Select the respective tabs on this page to find a list of both pending and historical deposits and withdrawals. On the Coinbase Pro mobile app, you can find your wallets on the Portfolio Page and filter Recent Transactions for transfers to see deposits and withdrawals.