What is Bitcoin?

Bitcoingold1Imagine: no cards, no PayPal, no personal information required to transfer your money. What is required then?

1. Open an online wallet in one of online exchanges (e.g. localbitcoins.com – reliable one) or download a Bitcoin wallet (https://bitcoin.org/en/download) on your computer;

2. Get some Bitcoins in exchange (can be the same –                                                                                       localbitcoins.com);

3. Spend Bitcoins. Send to address needed; Bitcoin address is simply a string of 26-34 characters, e.g. sIedjDKJJjiJFj84kjkK…………..

Total anonymity!

Bitcoin is a cryptocurrency, a form of digital money that function similar to traditional, fiat money. Bitcoin is totally decentralized currency; it is not controlled by central bank, government. Bitcoins are created and transferred electronically. New Bitcoins are generated by the network through ‘bitcoin mining’.

Meanwhile, the question we are interested in now – how Bitcoin works for Bitcoin Sportsbooks.  We used screenshots from our first-rate Bitcoin Sportsbook JETWIN. As easy as that:

Click on Deposit:

deposit

Copy Bitcoin address, go to your Bitcoin wallet – define the amount you would like to deposit and paste this Bitcoin address. In some seconds, your Bitcoins will be in your JETWIN betting account.

The use of Bitcoins allows you to bet anonymously. Your username and password are the only things required:

createaccount2

JETWIN uses Bitcoins to deposit sums into your betting account. However, you can choose other currency to bet with. As we have discussed in our article How to Win at Bitcoin Sportsbook?, from the psychological point of view it is much better to place bets with currency you use in a real live for successful betting. If you choose currency other than Bitcoin at JETWIN Bitcoin Sportsbook, Bitcoin deposits and withdrawals are converted at the Bitstamp Bid rate (http://markets.blockchain.info) at the time JETWIN processes them.

Does it seem to be the other world? It is reality! Fast, anonymous and worldwide used!

 

 

 

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