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With the price of Bitcoin hovering around the $8000 mark and online gambling sites pushing both current and prospective customers to deposit funds using the cryptocurrency, many people are reluctant as they mistakenly believe at least one Bitcoin is needed to deposit, or $8000 USD to purchase one Bitcoin. This simply is not the case.
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Dave Mason of BetOnline took on the topic Tuesday via Twitter as his company is currently offering a 100% bonus by using Bitcoin, DASH, Bitcoin Cash, Ethereum or Litecoin as a funding method.
Mason tweeted:
Important to note and a common question that newbies to crypto get confused about. You dont have to buy a whole bitcoin. If Bitcoin is $8,000 and you spend $800, you get .1 BTC.
Think of it as the ability to use cents on the dollar to fund your betting account, only with Bitcoin, those cents are represented by a few hundred dollars.
Conversion calculations are easy to find on the Net. Simply type in "Bitcoin Conversion" into Google, enter the currency and amount (i.e. $100 or €100) and you will get a Bitcoin amount similar to this: 0.012.
A word of caution. You will need to set up a wallet in addition to opening an account at a well regarded exchange. NEVER send and receive funds directly between the exchange and an online gambling site as this could be in violation of terms of the exchange.
For more on how to deposit and withdraw funds to and from your BetOnline account using Bitcoin go here.
- Aaron Goldstein, Gambling911.com
