Get started with Bitcoin betting

Before, you can only bet on online sportsbooks using fiat money. Tedious and inconvenient, this means you’ll have to link your bank account and go through the troubling process of confirming your identity and complying with bank requirements. 

Fortunately, you don’t have to go through these long-winded procedures anymore! With the rise of Bitcoin and other cryptocurrencies, transferring funds from your wallet to a sportsbook is as quick and easy as 1, 2, 3. Aside from fast transactions, they also protect your identity and shield your transaction history. 

Find out everything you need to know about betting using Bitcoin and how you can maximise its purpose here at Sportsbet.jp! 

What is Bitcoin?

Bitcoin is a digital currency developed in 2009 to create a monetary system where people can transfer money on a peer-to-peer basis. Traditional intermediaries such as banks are no longer necessary to send and receive money. To ensure the security and legitimacy of every transaction, they are processed using cryptography and recorded on a public ledger called the blockchain. 

The data uploaded on a blockchain cannot be altered so once it’s transmitted, there’s no changing the amount of Bitcoin you’ve sent or where you’ve sent it. This immutable nature protects the cryptocurrency market from hackers, making it impossible for Bitcoin to be stolen through the blockchain.

Another factor that makes Bitcoin attractive in this modern world is its focus on privacy. Today, banks collect private information from all their clients to make sure that their transactions are legitimate. However, all these data are stored in a central server that can be vulnerable to cyber-attacks. 

Not only does this put the funds of the clientele at risk but it also puts them in a vulnerable position with sensitive information such as phone numbers, email addresses and physical addresses exposed to unlawful parties.

Why use Bitcoin?

Bitcoin was created in 2009 by an anonymous person or group under the pseudonym Satoshi Nakamoto as a digital currency used to transact online. However, because of its high volatility, Bitcoin isn’t usually used as a medium of exchange. Instead, people use it as a store of value and invest in it for the long-term.

But that’s not the only way you can put your money to good use. Online casinos and Bitcoin sportsbooks now also accept cryptocurrencies such as Bitcoin, Ethereum and Litecoin to accommodate crypto enthusiasts and allow them to make faster, easier and seamless transactions.

When you use Bitcoin for digital transactions, you’re using it the way it was intended, allowing you to experience its advantages firsthand. 

Why bet using Bitcoin? 

There are a lot of reasons why Bitcoin is ideal for sports betting. From fast withdrawals to minimal fees and bonuses, plenty of advantages are in store for you by betting with Bitcoin here at Sportsbet.jp.

Below are some of the reasons you should consider when making the shift from fiat to crypto:

Where can you buy Bitcoin?

Gone are the days when you had to be a tech genius before you could purchase Bitcoin. Thanks to crypto becoming more mainstream, there are now a handful of ways for you to buy Bitcoin. Today, you can purchase Bitcoin using fiat money on broker sites, exchange platforms, peer-to-peer marketplaces and finance apps. 

Finance apps

The easiest way to buy Bitcoin is through finance apps such as Cash App and PayPal. American users can now buy Bitcoin straight from their mobile phones without the hassle of learning all about the intricacies of Bitcoin.

PayPal lets you buy Bitcoin, Ethereum and Ripple only in a matter of minutes. It sends the funds straight to your PayPal account so you don’t have to transfer it anywhere else if you don’t want to. This way, you can easily access your funds and send it to your online sportsbook account.

The same goes for Cash App. Once you have an account, you can go ahead and buy Bitcoin using your connected bank account or money deposited in your Cash App wallet. Seamless and hassle-free, this lets you buy Bitcoin wherever you want! And the best thing is, you can send it wherever you want right on the app as well. You don’t have to use any other third-party account just to send your funds to where you want. Everything you need for easy transfers is in your app.

Broker sites

You can also purchase coins whenever you want on crypto broker sites. To purchase, you need to have an account and provide identification first. Coinbase and Coinmama are some of the most popular sites available today where you can buy a large number of coins for a minimal fee. 

Your coins will be stored in the exchange’s own wallet so you won’t have direct access to it. If you want to take the extra step to ensure the security of your coins, you need to own a hardware wallet where you can keep your coins off the net and away from hackers.

Exchange sites

More ideal for traders, exchange sites offer more services compared to broker sites. However, it’s more complex and overwhelming for those who only want to buy Bitcoin and are unfamiliar with trading. Broker sites such as Coinbase usually offer trading platforms where users can place market orders to buy or trade cryptocurrencies.

To buy Bitcoin here, you need to place a buy order and set how much you want in exchange for your fiat on the trading platform. The site will automatically match you with a sell order so you don’t have to manually search for one. Additionally, buying crypto using exchange sites also costs less.

Peer-to-peer marketplaces

If you want to directly transact with people who are selling their coins, head over to peer-to-peer marketplaces where you’re in full control of the transaction. Paxful and LocalBitcoins are some notable examples of marketplaces for crypto hunters. 

To buy crypto in a P2P marketplace, you need to post a buy order and wait for a seller to reach out to you, or you can look for a seller yourself and transact with them directly. Once you’ve both laid down the conditions for the transaction, you can complete the trade on your own terms. If you’re going to buy in a P2P marketplace, you need to have a wallet where the seller can send your purchased coins.

How to deposit using Bitcoin

Now that you have purchased Bitcoin, how do you deposit it to your Sportsbet.jp account? There are two main methods to make a deposit: through the QR code or by the wallet address.

When you head over to the deposit tab, you can find a QR code or a unique address where you can send the funds. If you’re using the QR code, scan this using your wallet’s mobile app and enter the amount you want to deposit. If you’re using the address, copy the unique wallet address and paste it to your wallet app before including the amount to be deposited. 

Once the transaction is complete, you’ll be notified through a deposit confirmation notification. Afterwards, you’ll see the funds reflected on your wallet and you’ll be able to place bets!

Others cryptocurrencies you can use in Sportsbet.jp

You can also use other cryptocurrencies aside from Bitcoin in Sportsbet.jp. With five other cryptocurrencies to choose from, you can put your crypto portfolio to use and possibly gain profit from it!

Begin your sports betting experience today

Plenty of winning possibilities are waiting for you here at Sportsbet.jp! Put your Bitcoin and other cryptocurrencies to good use when you deposit them to your account.