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Many folks opt to gambling online with sites licensed outside the country of United Kingdom using Bitcoin and other cryptocurrencies. Bitcoin transactions take place in under a few hours and are even available during weekends, all with extremely low fees.
In order to do so you would first set up your Bitcoin/Bitcoin Cash Wallet. Doing so on your mobile phone is fast and simple. Be sure that all security protocols are followed (i.e. backups and secure code for wallet retrieval in case you should lose your phone)
Next, you will want to set up an account at a Bitcoin/Crypto exchange available from the UK or another option is to trade locally. Bitcoin exchanges can be linked to one's bank account or credit card.
Bitcoin exchanges available from the United Kingdom:
Kraken - Founded mid-2011, Kraken is the one of the world's largest cryptocurrency exchanges, and the largest in Europe based on daily average trading volume. It is available in almost all countries. Deposits can be made via bank wire, SEPA, ACH and SWIFT.
Very low 0.25% taker fee, falling to 0.1% with sufficient trading volume, Very low maker fee, falling to 0% with sufficient trading volume, Highly-rated for security and data protection.
CoinJar - Fees 1% (as low as 0.1% for high trading volumes), Clean interface makes it easy for first-time buyers, Instant bank transfer, Established in 2013.
Remember: Always transfer funds to and from your sportsbook via the Bitcoin wallet. Never do so directly through the exchange. Only the wallet offers anonymity.
It should also be noted that, when joining an online sportsbook, some may restrict residents of your country. Quite a few now offer a registration process through Bitcoin and other cryptocurrencies whereby you do not have to provide your location. Some even allow for completely anonymous betting accounts with only an email (and/or text number) provided.
- Payton O'Brien, Gambling911.com
