How to Buy Bitcoins
Should you wish to begin betting on Dota 2 events using the ever-growing cryptocurrency, the initial step is always about learning how to buy bitcoins. Since Bitcoin’s birth, there have been multiple channels for you or any interested party to obtain bitcoins.
Getting acquainted with cryptocurrencies and what is Bitcoin shouldn’t intimidate anyone. In fact, the learning process is simple and straightforward. Before you begin buying bitcoins, you first have to get a Bitcoin wallet of your own. This is where you store your bitcoins, which is a digital storage unit that involves public and private keys. There are three main types of wallets, including software, web-based, and hardware wallets. The first two are usually available for free, while hardware wallets are flash drive-like devices that you can easily purchase online. Learn more about Bitcoin wallets and how to store bitcoins here.
How to buy bitcoins step by step
There’s a series of steps you have to understand and follow for seamless transactions, simply complete the following and you can then indulge in the thrills and action of Dota 2 Bitcoin betting:
- Look for a well-respected Bitcoin exchange. These are the platforms where you can buy and sell bitcoins.
- Once you’ve secured a reputable Bitcoin exchange, create an account on the site and activate it.
- After creating an account, you can proceed to fund it through any of the available payment methods. A handful of exchanges have major credit and debit cards available along with other payment options like PayPal, Neteller, Skrill, direct bank transfers, and more.
- Check your account balance and see if your deposits have been credited. If so, you can place an “Ask” or “Buy” order and specify the number of bitcoins you want to purchase. The exchange will then notify you once there are sellers that match your needs accordingly.
- Lastly, the exchange then facilitates the transaction between the buyer and the seller. Your bitcoins are then sent to the your provided wallet address, which you can then transfer to your personal wallet.
Other options to get bitcoins
Although exchanges provide the fastest and easiest way those wanting to learn how to buy bitcoins, there are also other uses of Bitcoin that can be utilized. For instance, you can accept Bitcoin as payment for certain goods or services you are offering. On the other hand, you can also start mining your own bitcoins, which involves verifying transactions for the Bitcoin network along with mining-specific equipment and software.