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Bitcoin betting, How to get started!

Posted 16th August 2016 By: para    301 Views

This is a guide on getting started with bitcoin, on real money betting click here

Its clear the betting market is changing after valve have decided to clamp down on all gambling site. Personally I think it was a poor move by valve but things change and we need to just welcome the change and continue betting on E-sports!

Just going to make this clear now I’m not a Bitcoin expert. If you have any questions etc that I can’t answer there are plenty of resources available online.

Getting started with Bitcoin

If Bitcoin is new to you there are a few key points you should know before you jump straight into converting to it.

  • Secure your wallet!
  • Bitcoin price is Volatile
  • Bitcoin payments are Irreversible
  • Bitcoin is not anonymous
  • Unconfirmed transactions aren’t secure
  • Bitcoin is still experimental
  • Bitcoin is not an official Currency

If you are concerned about any of these please visit the official Bitcoin website where they explain all this in detail.

Making a wallet

So the service I’ve started to use is Coinbase, this is a place where you can buy & sell, store and send & receive Bitcoin.

Creating a wallet on Coinbase is really simple and you can set the system up based around your countries currency.

Cashing skins into Bitcoin

Once you’ve finished creating and setting up your Coinbase account you are ready to convert some of those skins into Bitcoin. OPskins is probably the best place for converting skins into bitcoins easily. You can sell your skins as normal and when you come to cashout you can send the money to “BTC Address” add your Coinbase wallet address here and OPskins will transfer your money into Bitcoins.


Betting with Bitcoin

There are some very popular bitcoin betting websites already and I’m sure with the changes valve are making there will be more to come. The most popular is Nitrogen Sports however Fanobet is currently transitioning from Skins to Bitcoins. (From the 18th of August)


Is bitcoin the answer?

Yes, no, maybe? We currently don’t know somebody might be creating a alternative way for skins to be used to bet on esports. Don’t forget there are also plenty of real money betting websites to choose from to bet on Esports. Most licensed bookies are transitioning to the Esports scene.


Written by para

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