Bitcoin For Beginners

What is Bitcoin?

The word Bitcoin may sound intimidating at first, but once you get the hang of using Bitcoin, you’ll find that it is much easier, much cheaper, and more reliable than any other deposit/withdrawal method we offer. Today, over 90% of our customers use Bitcoin for funding their BookMaker accounts and for receiving withdrawals, and if they can do it, so can you!

Why to use Bitcoin for deposits and withdrawals?

  • * Bitcoin wallets are quick and easy to set-up
  • * Bitcoin transactions have fees that are super cheap
  • * Bitcoin is an anonymous payment method
  • * Bitcoin is not controlled by a central authority or government

Just think of Bitcoin as an Internet currency. Bitcoin is traded on Bitcoin exchanges just like US dollars or British pounds sterling or Mexican pesos are traded on the Forex currency exchanges around the world. You can buy and sell Bitcoin just like you can buy and sell other currencies.

In simple terms, you buy Bitcoin and send it to us. Then, we turn Bitcoin into your currency and fund your BookMaker account. When you request a withdrawal, we send you Bitcoin and then you turn it into your currency that goes into your bank account or that you can withdraw as cash from a Bitcoin ATM near you.

Yes, it’s that simple! That’s why a majority of our customers use Bitcoin for deposits and withdrawals.

Have more questions about Bitcoin? Contact our Bitcoin team at 1 855-535-4947

Is Bitcoin Safe and Secure?

Is Bitcoin Safe and Secure?

The short answer is that the way we suggest you use Bitcoin is one of the safest and secure ways to use Bitcoin.

In reality, just like cash or your credit card, Bitcoin can be stolen. However, just like carrying cash or using credit cards, if you follow a few simple security guidelines, you should be able to use Bitcoin without any issues!

The Basics of Bitcoin Security

  • Always keep your passwords private and stored in a safe place
  • Always use two-factor authentication in addition to your password
  • Always cut-and-paste Bitcoin addresses - don’t type it in by hand
  • Never send Bitcoin to the same BookMaker address more than once
  • Always use an intermediary Bitcoin wallet when receiving withdrawals from BookMaker https://bitcoin.org/en/choose-your-wallet

Always make sure you double-check the address where you are sending or receiving your Bitcoin before completing the transaction. Just like cash, once you send someone Bitcoin, it’s gone - and there’s usually no way to get it back unless the person who received it agrees to send it back to you.

The fact is that Bitcoin is just as safe and secure as cash and credit cards when you follow the proper security precautions.

Have more questions about Bitcoin? Contact our Bitcoin team at 1 855-535-4947

Making Your First Bitcoin Deposit

Making Your First Bitcoin Deposit
Using Credit/Debit Card or Bank Account

Depositing with Bitcoin is fast, easy and simple - just remember that the first time takes a little longer to get set-up. Once you’re set-up, the process is more streamlined. If you need any help, you can always contact our Bitcoin team at 1 855-535-4947 to assist you in completing the process.

You will open an account at a Bitcoin exchange, which is commonly referred to as your Bitcoin “wallet” - if you’ve ever used Paypal, it’s like funding your Paypal account in order to send and receive payments. Our recommended Bitcoin exchanges are listed below in Step 1.

STEP 1: Create a Bitcoin “wallet” and buy Bitcoin

Sign-up and open an account with a Bitcoin exchange. A Bitcoin exchange allows you to buy and sell Bitcoin and to send and receive Bitcoin. You deposit funds into your Bitcoin exchange account in order to buy Bitcoin. Your Bitcoin exchange account is also referred to as your “Bitcoin wallet”.

Most Bitcoin wallets will allow you to use a credit card or debit card to buy Bitcoin, or you can link your bank account(s) to your Bitcoin wallet in order to buy Bitcoin using your checking account. Credit/debit cards usually fund your Bitcoin wallet within minutes; funding your Bitcoin wallet with your bank account typically takes 2-3 business days.

Please note that deposit limits for your Bitcoin wallet start low and rise as you make more deposits into your Bitcoin wallet over time.

Recommended Bitcoin Exchanges:

Exchange:  Limits Method     funding Time

www.coinbase.com

Daily  ($10-$500)         Verified accounts                
Weekly  ($10- $2500)                                          

Visa-MC CC       Instant  Bank account

Coinmama.com

Daily ($60-$5000)
Daily ($100-$10,000)  Verified accounts                

Visa-MC CC        45 min  Visa-MC CC        2 hours

Kraken.com 

Daily ($100-$2000)
Daily ($1000-$100K)  Verified accounts               

Bank Wire         2-5 days
Bank Wire         2-5 days

ww.cex.io      
Quadrigacx.com

Daily ($10-$3000)       Verified accounts               

Daily ($250- $1000)   Canada ONLY

Visa-MC CC  30 min

Bank transfer

 

Step 2: Get the BookMaker address where you will send your Bitcoin

Once you have received your Bitcoin in your wallet, simply send them to BookMaker to fund your betting account.

  • Log in to your BookMaker account
  • Open the BookMaker cashier
  • Click on deposit
  • Choose Bitcoin as your deposit method
  • Enter the USD$ amount you wish to deposit
  • Select either a Bonus or “No Bonus” in order to continue
  • Click next to generate the Bitcoin address where you will send your Bitcoin
  • COPY the Bitcoin address*

*NOTE: We strongly recommend that you copy and paste the bitcoin address to avoid typing mistakes. Do not try to type the address by hand. Use the copy and paste feature provided just to the right of the bitcoin address. If you make a mistake with the address, it is possible to send the Bitcoin to the wrong person and once you send Bitcoin, it’s gone.

*IMPORTANT: Always go to the BookMaker cashier to get a new Bitcoin address when sending Bitcoin. Never use the same address more than once!

STEP 3: Send your Bitcoin to BookMaker to fund your betting account

Once you have copied the BookMaker address where you will send your Bitcoin, go back to your Bitcoin wallet and click on the link to send Bitcoin.

PASTE the BookMaker Bitcoin address into the recipient address field. Make sure the amount you are sending matches what you put into the BookMaker cashier

Click send Bitcoin and complete the sending process.

Once you have sent the Bitcoin, it typically takes between 10-20 minutes until the funds are credited into your BookMaker account.

Need help? Contact our Bitcoin team at 1 855-535-4947

Advanced Bitcoin Security

Just like cash and credit cards, you must take certain precautions to ensure that your Bitcoin wallet is safe and secure. It is your responsibility to adopt best practices in order to protect your money. Here are a few advanced security guidelines that we recommend. Have more questions about Bitcoin? Contact our Bitcoin team at 1 855-535-4947

  • Only keep a small working balance in your Bitcoin wallet. Limit your exposure to potential theft by keeping your Bitcoin wallet balance low. To limit your exposure to potential muggings, you wouldn’t walk around the streets with thousands of dollars in cash in your pocket - just like an actual wallet, only keep a working amount of money in your Bitcoin wallet!
  • Regularly back-up the hard drive that contains your Bitcoin information. If your computer or hard drive fails, you can lose your Bitcoin forever! By making regular back-ups of your data, you always have another way to access your Bitcoin!
  • Always keep a back-up of the secret key to your Bitcoin wallet. When all else fails, your secret key allows you to access your Bitcoin wallet. Be sure to store your secret key where only you can access it. You can even create a QR code (which is like a fancy laser bar code) to help you retrieve your secret key if your device is lost or stolen.
  • Create a back-up plan for your loved ones in the event that you die suddenly or are incapacitated. Your Bitcoin can be lost forever if your loved ones don’t know where to find the locations and the passwords of your Bitcoin wallets. It’s a best practice to have a way for your loved ones to recover your funds in case you’re unable to do it yourself!
  • Create an offline (cold storage) wallet for your Bitcoin An offline wallet - known as cold storage - provides the highest level of security for your Bitcoin. You can either store your Bitcoin on a device that never connects to the Internet, or you can print-out your Bitcoin and store them in a fire safe or bank safe deposit box!

What is an intermediary Bitcoin wallet?

It is recommended that you use an intermediary Bitcoin wallet when receiving payouts from your BookMaker account in order to mask your transactions for greater privacy of your financial transactions.

An intermediary Bitcoin wallet is not connected to your bank accounts and is a confidential and private Bitcoin wallet where you send your payouts BEFORE you transfer your Bitcoin to a wallet that is connected to your bank accounts.

Even though Bitcoin transactions are anonymous, the Bitcoin blockchain is open to the public to review, and it is possible to track transactions and guess the purpose of the transactions. In order to help keep your Bitcoin transactions private and confidential, we recommend that you request your Bitcoin payouts to be sent to your intermediary Bitcoin wallet FIRST. Then SECOND, you can send the Bitcoin to the Bitcoin wallet that is connected to your bank accounts in order to change your Bitcoin to your local currency.

LIST OF RECOMMENDED INTERMEDIARY BITCOIN WALLETS:

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