Over the past few years, bitcoin and cryptocurrencies have enjoyed a huge surge and it has become a novel method for betting. Here is how to use crypto for betting in 5 simple steps..

The development of Bitcoin and crypto currencies has been unprecedented and there are a wealth of opportunities to be explored when it comes to placing bets on sporting events.

There are a whole host of bitcoin websites that, with their technological innovation, has become an enticing prospect for bettors. Very much like traditional bookmakers, there are exchanges where users can back odds placed by other users as well as lay odds themselves. The only major difference that bettors have to be aware of is that the currency is Bitcoin.

With a blockchain in place, bitcoin sites have become renowned for their integrity and speed. For many, venturing into the world of bitcoin betting may be something that they are trying out for the first time. Here is a simple step-by-step guide as to how to set up an account with a bitcoin based betting website and important tips to bear in mind.

1- Choose a bitcoin wallet

Coinbase is the well known and trusted Bitcoin wallet to choose

The bitcoin wallet is very similar to a bank account which allows bettors to send, receive and store money. There are several options available and you can hold information on a computer or on your mobile. Among the companies offering bitcoin are Coinbase, Blockchain.info and BitPanda. Coinbase is highly regarded and was confirmed as the "Best Bitcoin Wallet of 2016". The process of setting it up resembles that of other digital based services.

2- Open a Bitcoin wallet account

Opening your Coinbase account is very easy

With Coinbase, first time users can begin registering by signing up. After opening the registration form, users are advised for protection purposes to use a safe password that they will (a) remember and (b) not be too obvious so as to avoid being hacked. Safety is of paramount concern on bitcoin websites and once a password has been set up, Coinbase will detail how strong the password is. Once the password has been deemed suitable, users then simply have to adhere to the "Terms and Conditions" section by ticking the box and then they can move onto the next step of creating their account.

3- Activate your bitcoin wallet account

Verify your Coinbase account in simple steps

In order to activate your account, bettors have to complete a couple more steps, which once again is to protect them if they lose their login details or they are stolen. After pressing the "Next" button on the previous page, the bettors will be taken to another section where they can complete their profile which will make their betting experience unique to them.

The form will bring up fields to be completed, such as the country they are from, for example the United Kingdom and if so, they will be asked to supply a phone number. Numbers in the UK will begin with +44 and you take the 0 out. Bitcoin is an international service, so bettors from all over the world can set up an account. Once you have provided the above details, a text message will be sent to your phone along with a 7-digit code. This is where you can verify your number and each time you sign in, there is a two factor authentication code that bettors can use to confirm that it is them and nobody else using their account.

To continue with the verification process, there will be an option to continue building your profile. At this point, you will be required to provide a legal form of documentation and the most commonly used is a driving license. If using a driving license, you will have to take a screen grab or scan the document and then upload the picture which has to be clear to the profile area. Once the ID has been provided, the details will be checked and you may have to wait a short while for the system to confirm everything looks fine, so bettors should not refresh the page or click away from the website at this point. 

4- Choose a reliable bitcoin bookmaker

Sportsbet is the best Bitcoin bookmaker - Click here to sign up!

Once you have set up your account, there are a healthy list of options to choose from. Like any other traditional bookmaker, you can pick any match market you wish to bet on. When it comes to withdrawing your bitcoins from the bookmaker, you can transfer it using your bitcoin address and once you have located your wallet, then you can transfer it to your bitcoin address.

One of the most trusted ones is Sportsbet.io and you can find all the markets and sports you wish to bet on with just a few simple clicks. Sportsbet.io is an innovative betting site and it is operated by Luckbox Ent.Ltd which is one of the most reputable companies in the world of cryptocurrency betting. Offering some of the highest betting limits online which can range up to 100 BTC is huge. Regardless of what kinds of markets or sports you wish to bet on, Sportsbet.io 

5- Create your bitcoin bookmaker account

Start creating your Sportsbet.io account by clicking here!

While Sportsbet.io does not accept UK players, it is a premium online sports book and casino and each game is designed to satisfy and meet the whims of every individual player. There are great promotions on offer and whether you are just a casual bettor or a seasoned bettor, your needs are looked after. Everything is at the simple click of a button and it has a slight edge over its competitor in its role. In essence, sportsbet.io makes sports betting fun.

You can create your Sportsbet.io account by clicking the link below the image. You just have to type in your username, email, date of birth and password. You do not even have to give your real name and address. This is how betting with Bitcoins gives you the advantage of privacy. Start taking advantage now!..