Does Bet365 accept Bitcoin deposits?
Many users are curious about this and for good reason! Many struck gold with Bitcoin and have extra funds to gamble with or want to put their Bitcoin to work besides just holding it and wait for the value to go up.
Unfortunately, you cannot use Bitcoin as a way of funding your account on Bet365. So far, Bet365 has not expressed interest in supporting cryptocurrencies and prefers more traditional means of making deposits. If you wish to deposit funds into your Bet365 account, you will have to use normal currency, or convert your Bitcoin into fiat money (Pounds, Euro, Dollars etc.). You can see a list of accepted payment methods below and you can find all of the most popular methods:
- Visa Electron
- Skrill 1-Tap
Virtual prepaid cards
- AstroPay card
You can, of course, transfer funds directly from your bank account into your Bet365 account and for many players, this is the preferred method. The fee is very reasonable, too.
Can I bet using Bitcoin on Bet365?
You cannot use Bitcoin on Bet365 to place bets. To use Bitcoin you will have to convert it beforehand into fiat cash and then deposit it into your Bet365 account as usual. You can then resume your play and have your Bitcoin work for you. The current market is not doing too well, so why not convert it and try your luck at the tables or on sports betting? There is plenty of excitement to find on Bet365, so what are you waiting for? Convert and join the action!
What is Bitcoin exactly?
Bitcoin or BTC is a cryptocurrency based on the blockchain technology. This distributed ledger was released to the world in early 2009 by an anonymous user who went by the nickname, Satoshi Nakamoto. The cryptocurrency has since then risen and fallen in value throughout the years, starting out being worth nothing to one BTC being worth almost 20.000 USD in late 2017. The infamous pizza story was the first transaction using Bitcoin as a means of payment and can partly be attributed to the value it was originally given. The usage of Bitcoin as an alternative means of payment on the Silk Road and other darknet websites have also helped the cryptocurrency accrue value. There is a limited supply of 23 million Bitcoin and since its inception, more than 17.5 million Bitcoin have been released through mining into the circulating supply. Mining is a term that describes the incentive mechanism built into the blockchain itself, where the transactions are processed by the miners who solve equations in return for a reward paid out in Bitcoin.
Bet365 may in the future support Bitcoin deposits and other cryptocurrencies, but currently, it is not possible. If there is enough demand, we are certain that this would change as the platform tends to listen to the needs of its user base.
Last update: February 2019. Validity Period: 31/12/2019.
Note that this article is based on a personal experience of the Bet365 services.
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