How to deposit cryptocurrency on a betting site
Before you can deposit crypto on a betting site, you first need to have some cryptocurrency. We will show you the best and easiest way to buy cryptocurrency for betting in India.
Depositing cryptocurrency on a betting site is easy – let us show you how!
Here’s what you have to do.
Step 1: Buy some cryptocurrency
If you already have some cryptocurrency, you can skip this step. However, if you don’t already own cryptocurrency, you’re gonna find this step very helpful.
Buying cryptocurrency can be done in 2 different ways.
The first way is via online platforms where people buy and sell cryptocurrency in exchange for traditional currencies like Indian Rupees and US dollars.
The second way is through a physical meetup with a person where you exchange cryptocurrency for real cash.
Both methods are great as long as they achieve the overall goal which is to buy cryptocurrency. We will now show you how to buy cryptocurrency both online and offline.
- How to buy cryptocurrency online in India
To buy cryptocurrency online, you must create an account on a cryptocurrency exchange website. For Indians, we recommend the following crypto exchanges:
- Bitbns.com
- Unocoin.com
- Mycelium.com
The signup and exchange procedures are pretty much identical on all sites. You create an account, choose which cryptocurrency you want to buy and then you pay for it with one of the available payment metohods such as online bank transfer, VISA card or MasterCard.
When that is done, the cryptocurrency will be instantly available in your crypto wallet and can be deposited on a betting site!
“But what if I don’t have a bank card”, you ask?
Well, you’re in luck, because you can also buy cryptocurrency offline without needing a bank card or anything like that. All you need are some cold hard rupees. This will allow you to buy cryptocurrency offline.
- How to buy cryptocurrency offline in India
Buying cryptocurrency offline is pretty simple and straightforward. Anyone can do it, really.
The first thing you need to do is set up a cryptocurrency wallet at one of the abovementioned crypto exchanges.
Yes, you still need to complete this step, because you will need a wallet where you can deposit your cryptocurrency.
After setting up your account, you find a guy who wants to sell cryptocurrency. You arrange the quantity and the price and then you meet each other.
Quick tip: buy a common cryptocurrency
There are literally thousands of different cryptocurrencies out there, but betting sites only accept a few of the most popular ones.
Therefore, make sure that you only buy from the most common cryptocurrencies such as Bitcoin, Litecoin, Ripple, Ethereum, Tron and others.
When you meet the seller, you will show him that you have the prearranged amount of money with you.
Now, the seller will open his laptop and make the transfer to your crypto wallet. Once the transfer is confirmed, give him the cash.
Congratulations - You now have your very own cryptocurrency. You’re ready to move to the next step: depositing the cryptocurrency on a betting site.
Step 2: Deposit cryptocurrency on a betting site
Now that you have your cryptocurrency, the time has come to deposit that crypto on a betting site.
Depositing cryptocurrency on a bookmaker is actually really simple.
The first and most important thing to do, is choose a betting site that accepts cryptocurrency. Although there is an increasing number of betting sites that accept crypto, it’s still a pretty rare thing to find.
Here is a list of all the betting sites in India that accept cryptocurrency:
Choose the betting site you want to join and click the green “Join” button. This will ensure that you receive the welcome bonus you are entitled to after making your first deposit.
Now, set up an account on the betting site. When that is done, you will be ready to make a deposit.
Head to the deposit menu, usually labelled “Deposits” or “Payments”. From here, you will select the specific cryptocurrency you have in your wallet and want to deposit, such as Bitcoin, Litecoin or another currency that is accepted by the bookmaker.
The betting site will now give you a very specific link that usually looks something like this:
This link contains all the necessary information about where to send the money.
You will now copy that link and insert it into your crypto wallet, where you will also specify which amount you want to send to this crypto address.
When that is done, confirm the transaction, and the money will be instantly available in your betting account. Hooray!
Step 3: Start betting with cryptocurrency
Now that you have a betting account and it is loaded with cryptocurrency, you’re ready to start betting.
You can use your cryptocurrency to bet on any sport or game of your choice, exactly like any other currency.
You can bet on cricket, horse racing, football, or even play casino games using cryptocurrency. The possibilities are endless.
As you can see, there is an increasing number of betting sites that accept cryptocurrencies, but we believe the best crypto betting site is Sportsbet.io!
