My book keeps telling me that they have thousands of US users who are using Bitcoin. I tried it a few times but never got far. Are the majority of deposits made this way? Do you think this is becoming the only option for the US?
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Good question. Once you've purchased bitcoin and are ready to make the transfer, ease of use/quickness would be a 10 of 10.
Check out the four part bitcoin video walk-through if you haven't already:
Part 1: http://www.sportsbookreview.com/foru...tors-care.html
Part 2: http://www.sportsbookreview.com/foru...e-bitcoin.html
Part 3: http://www.sportsbookreview.com/foru...coin-cash.html
Part 4: http://www.sportsbookreview.com/foru...s-rewards.html
Processing is always subject to change. The one constant is that when your sportsbook relies on third party companies, occasionally there are bound to be delays or problems. With bitcoin though, there is no reason a payout should take longer than the advertised time as the middle man is cut out of the equation.Comment -
BTC is awesome. I use it almost exclusively with online books now. You might have to jump through a couple of initial hoops to set up a wallet and connect up your bank account to deposit USD to buy BTC. But it's well worth the ease of depositing and withdrawing from books that accept it.Comment -
It used to be a little complicated but they have pretty much eliminated everything people did not like in using BitCoin. It takes some time to learn but is very simplified now so does not take much doing. It's almost like using something like NetTeller now.
It is not even close to being the way most people make deposits and will not anytime soon. It is not going to be the only way for people to deposit but it is going to increasingly be a preferred method for many.
The books like it because it hugely reduces their costs which is why they seem to be pushing it on you.
It's about a 7 on ease of use. Using a CC is a lot easier but brings its own headaches. BitCoin pays dividends when it comes time to withdraw but a lot of people don't make it that far.
I'd say BitCoin is a good option if you are going to make lots of deposits. If you are going to be one and done, it is not that attractive depending on your payout options with the book you use and costs involved there and if you can make it that far.Comment -
Thanks for the advice guys. I have to start reading more on this. Getting impossible to use other methods .Comment -
I would think currently it's a sevenComment -
I'm just nervous about linking my bank account. I guess I have to. I'm probably the only guy in NJ who can't find a local.Comment -
As originally asked on a scale of 1 to 10 I would give it a 7 for the ease of initial setup and a 9 for the ease-of-use after that.Comment -
This is only bank transferes https://localbitcoins.com/sell-bitco...ank-transfers/ Lots of other options if u wanna use other than bankComment -
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I made my first successful BTC deposit yesterday to the book. I'd rate the first experience a 7 because of the 3-5 day wait after linking my bank and just the anticipation if I was doing everything right with a long string of characters, sending....worry and skepticism! Now that I know what to expect, I'd rate it a 9 at least.
I though I had BTC 101 pretty much down but now I keep reading about "exchanges" and "localbitcoins". I still I haven't grasped this. I thought it was easy as Bank to Coinbase/Circle to Blockchain/Airbitz then to book. I don't get where these other layers come in.Comment -
Microphone, what do you mean by "exchanges" and "localbitcoins"? Coinbase>Blockchain>book and you should be good to go...Comment -
Ace,
And I am, for now. But I read things from people who have had trouble (coinbase or circle suspects them of gambling) and it's mentioned there are ways around it, and those two words above are thrown around, but they are not mentioned in any tutorial. I'm trying to stay ahead of the curve!Comment -
This is spot on. I personally believe Bitcoin is incredibly easy to use after you have it. One site that hasn't been mentioned for those who don't want to possibly put back into the bank is gyft.com. You can purchase so many things on gyft.com that can be used at a later date the same as cash in hand. Who knows which crypto will the be the main one in 5 years but right now Bitcoin is the nuts for moving money around easily.Comment -
Another great option is the shift card that coinbase uses. I don't think they are offered in every state but I got one and I am in CA. You can use it like any **** card. You make a purchase with it and it withdraws btc from your coinbase account and puts usd in the merchants account. Very handy if you don't want to exchange your btc for usd and deposit it into a bank account.
Microphone, I have made quite a few transfers from blockchain to coinbase/itbit and have not had any problems. Just don't do a transfer straight from a book to coinbase/itbit.
Also, Another great site to use as an intermediary is poloniex. They are very reputable and I have used them as well as blockchain.Comment
