Bodog Casino: How to Deposit and Where to Start?
Thanks to Bitcoin, there’s a better way to do business online. No longer must we adhere to the whims of banks when it comes to online transactions. Cryptographers make it possible to send and receive digital currency much the same way you’d exchange emails—no banks necessary. You don’t even need to be particularly tech savvy to get started; if you can operate an app on your smartphone, you have all of the skills needed to use Bitcoin.
This guide will show you how to get started with cryptocurrencies, beginning with a brief explanation on exactly what is Bitcoin. Then, we’ll cover the steps needed to get a personal wallet and how to buy Bitcoin at an exchange. If you’re looking for a Bitcoin casino to deposit and play, now is the time to get the software needed to reap the rewards of this popular cryptocurrency.
What is Bitcoin?
Released in 2009, Bitcoin was created by a person, or group of people, under the name of Satoshi Nakamoto with the intent of simplifying day-to-day transactions on the web—while also operating free from bank/government control. A peer-to-peer network is used in lieu of a traditional bank to facilitate transactions.
The flow of Bitcoin from one party to another is recorded on a public ledger through a miner, who is paid to solve complex algorithms as part of the process. The encoded transactions include the amount of Bitcoin exchanged, a date stamp and a public and private key. The public ledger means that Bitcoin is transparent, while also remaining anonymous for users.
Bitcoin’s popularity has grown in leaps and bounds since it started, when a single Bitcoin was almost worthless at $0.0008. Now a Bitcoin is worth just shy of $15,000 CAD and has paid dividends to those who adopted it early. Due to the high prices, most people deal in MicroBitcoin (mBTC), and some prefer to use a fork of Bitcoin called Bitcoin Cash. Either way, we accept both at Bodog Casino. Deposit with whichever one you prefer.
How to Get a Personal Wallet
Before you can get Bitcoin, you’ll need a personal wallet, which provides a signature key (like an address code) that is used in all of your Bitcoin transactions. We recommend downloading this key piece of software onto your smartphone or laptop instead of using a less secure web-based wallet. As you’ll see when scrolling through your app store, there are many options to choose from. Some, like Coinbase and Blockchain, are geared to beginners and cost nothing to download, while hardware wallets like Trezor and Ledger have an upfront cost and are better for those who handle large sums of Bitcoin.
Once your personal wallet is downloaded, you’ll need to create a username and password while verifying your email address. The set-up process takes just a couple of minutes and the prompts make it easy to follow along.
How to Buy Bitcoin
Many personal wallet apps come with a built-in exchange. This convenient feature eliminates the need to put in your personal wallet’s address code every time you buy Bitcoin—a real benefit as you begin to speed through transactions. Coinbase and Blockchain both offer the dual services of a personal wallet and digital exchange.
A digital exchange is similar to a regular currency exchange, except the only options for trading are between “fiat” currencies, like CAD, and cryptocurrencies. During the set-up process, you’ll be prompted to provide a piece of ID to verify your identity. It could take 24 hours to get your exchange account up and running, and once it is, you can buy Bitcoin by simply hitting the “Buy” button and following the prompts. Choose the type of cryptocurrency you want and decide how much you want. The funds will be sent to your wallet automatically if you’re using a dual service provider; otherwise, simply input your address code to complete the transaction.
Make your First Deposit and Play
Once your Bitcoin is sitting safely in your personal wallet, you can put it towards your first Bodog Bitcoin deposit. Online casino bonuses are most rewarding when you use Bitcoin, and that’s especially true at Bodog Casino. Browse through our Bitcoin Deposit Bonuses page for the latest promotions designed to enhance the playing experience of our Bitcoin players. Become one of those players by going crypto today, and you’ll wonder why you didn’t do it sooner.