How to make betting deposits with cryptocurrency in India
Cryptocurrency is among the most recent and innovative ways you can make transactions online. A cryptocurrency is essentially like a normal currency (such as Indian rupees), but cryptocurrencies only exist online. Some of the most common cryptocurrencies are Bitcoin, Litecoin, and Ethereum.
Cryptocurrencies can be bought and sold just like other currencies on the foreign exchange market. Their prices fluctuate just like all other currencies in relation to each other. But the great thing about cryptocurrencies is that they can be sent without using a bank. You can send crypto directly from your crypto wallet to the crypto wallet of another person or a business.
So what does this mean for you? How can you take advantage of cryptocurrencies to make a deposit on a betting site? We’re gonna tell you exactly how to do that in this tutorial.
The first step is to open a cryptocurrency wallet. We recommend that you open an account on Coinbase.
Step 1: Open a Coinbase account
The first thing you need to do is open up a cryptocurrency wallet. If you already have a crypto wallet, you can ignore this step. A cryptocurrency wallet functions like a bank account, in that you can send and receive different currencies and store them for later use. You can also see the value of your different cryptocurrencies at all times.
If you’re wondering which crypto wallet to use, we recommend using Coinbase or Mycelium. These are 2 of the most popular and common crypto wallets on the market. They are both user-friendly and provide access to a range of different cryptocurrencies. You can use these wallets to buy cryptocurrency, as well as to send it to a 3rd party such as a betting site.
For the sake of this example, we will be showing you how to open a Coinbase account.
To open a Coinbase account, navigate to Coinbase.com and click the “Get Started” button. Now, you just need to type in a few personal details about yourself. This includes your name, last name, email address, and a password. Then Coinbase will send you an email that you need to confirm.
After verifying your email, you will be asked a few more questions such as your country of residence and your phone number. After typing in those details, Coinbase will send you an SMS confirmation code which you need to type in as well. This 2-factor confirmation helps to ensure that you are really who you claim to be. After completing this, your Coinbase account is open!
Step 2: Buy Cryptocurrency
Now, you will find yourself in the Coinbase dashboard. From here, you can purchase your first cryptocurrency. We recommend purchasing either Bitcoin or Ethereum, to begin with, as these are the most widely accepted on different betting sites. You can make your purchase using a credit or debit card.
Alternatively, you can also connect your Indian bank account and buy cryptocurrencies by making an online bank transfer or a wire transfer. This may be a good option for you if you do not have any bank cards at your disposal.
If you’re one of the many million Indians who don’t have a bank account, do not despair. There are other ways for you to buy cryptocurrency. For example, you could meet up with another person who already owns Bitcoin or another cryptocurrency and pay them in cash.
To receive cryptocurrencies from other people, you just need to give them your specific crypto address, which can be found in your Coinbase account. Make sure you meet them in a safe place and make sure they transfer the cryptocurrency to you before your eyes. If you live in a major city such as Mumbai or Chennai, it should not be a problem to find someone who wants to sell crypto.
Step 3: Deposit your crypto on a betting site
Now that you got your hands on some cryptocurrency, it’s time to transfer it to a betting site so you can get started placing some bets. To do this, you must select a betting site that accepts deposits with cryptocurrency. As cryptocurrency is still a fairly new invention, it’s still only a relatively small number of betting sites that accept crypto.
One of the best betting sites that accept cryptocurrencies is Sportsbet.io. They have made it one of their unique marketing points that they accept different kinds of crypto. On Sportsbet.io, you can deposit in Bitcoin, Ethereum, Litecoin, and Tron. You can also deposit in Indian rupees, US Dollars, and other common currencies.
We believe that Sportsbet.io is a great and highly innovative betting site that is looking to the future for ideas. Aside from cryptocurrency deposits, you will find many other modern betting features on Sportsbet.io, including a unique welcome bonus. This bonus will triple your first deposit on Sportsbet.io in the form of a free bet worth Rs. 3,000. Not bad, right?
Click the green “Claim” button to start an account on Sportsbet.io and make a cryptocurrency deposit. It’s fast and easy!
Betting Sites that accept Cryptocurrency Deposits
All betting sites listed below accept Bitcoin deposits, or deposits made by some other form of cryptocurrency.