Bitcoin 101

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Bitcoin is the easiest way to deposit and get paid at


Why switch to Bitcoin today?

Bitcoin is the easiest way to deposit and get paid at It’s fast, secure and holds no transaction fees!


Why more and more of our clients use Bitcoin?

It’s easy and convenient. Use your mobile, desktop computer or hand cash at a Bitcoin ATM. Transactions are credited usually within minutes. There are no banks or government agencies involved. Enhanced security features make it secure and reliable. There is a large number of merchants accepting Bitcoin. You can use it to shop online, book your next vacation or even buy a car!


How can I start using Bitcoin on BetOnline today?

In 3 easy steps.


1. Buy Bitcoin with an exchange account.

You can buy Bitcoin instantly with your debit card, ACH or even your checking account, through a regulated exchange. Once you select your preferred exchange, link it to your checking account or bank card to buy Bitcoin.

Go! Choose among this list of top-rated Bitcoin Exchanges, and places to buy Bitcoin quickly and easily.


2. Get a Wallet

A wallet is a place to keep your Bitcoins until you spend them. Wallets are free, and getting one is easy! Our recommendation for a great Bitcoin wallet for your mobile phone is Mycelium. It is easy to use, has enhanced security features and is among the most recommended wallets for both Android and iOS.

You’ll need to send your Bitcoin from your exchange account to your wallet. Don’t worry, it’s easy!

First, open your wallet, select “receive money” and copy the long Bitcoin address.

Next, go to your exchange account and select “send funds” and paste the long address (that you copied in your wallet) into the “recipient” field in the exchange account.

Add the amount, click “send funds” and then “confirm”.


3. Make your first Crypto deposit with us!

Congratulations! Now you’re an official Bitcoin user. Funding your account is simple. In the BOL cashier, select Crypto, choose Bitcoin and the amount you want to deposit.

You will see a long address that you will copy.

In your wallet app, go to “send funds” and paste the address you got in our cashier. Funds will appear in your BOL account within 15 mins to 2 hours.


How to Buy Bitcoin

There are several ways you can purchase bitcoin. Click below to learn of the most popular ones. 

Think of this like purchased currency from a financial institution. This is a safe and secure way to exchange funds online, and to purchase Bitcoin. Many of these exchanges will require a picture of your ID for personal verification — but the process is fast and secure.

View a list of recommended exchanges according to preferences here

To buy, go on your exchange account and use a debit/credit card or bank account to buy digital currency. Send the funds to your digital wallet’s address for safe keeping. 


A peer-to-peer exchange allows you to exchange funds and trade Bitcoin with users around the world. When purchasing from a seller, only deal with users that have a high rating reputation based on previous transactions to protect yourself. is a person-to-person bitcoin trading site. At, people from different countries can buy and sell Bitcoins to and from each other. Users, called traders, create advertisements with the price and the payment method they want to offer. You can browse their website for trade advertisements and search for a payment method you prefer. 


You can deposit cash to buy Bitcoin (and withdraw cash from your Bitcoin!) You will need a wallet downloaded to your phone, and you will need to locate the machine nearest you.

Use to find Bitcoin ATMs in your area. These machines are fast, secure, and easy to use — even for first time Bitcoin users.

Please note that some machines may ask for ID prior to allowing purchase or exchanges. Additionally, you will need a Bitcoin address to move funds. You will need to insert cash into the machine to purchase Bitcoin. Also, you may need to verify your address to confirm most transactions — when this occurs, the transaction will be instant.


Some mobile payment services let you buy and transfer Bitcoin through a mobile app without the need to setup an Exchange account or a wallet.

Cash App is now the easiest way to buy and sell Bitcoin without the need to set up an Exchange account or a wallet. Plus, you can even send Bitcoin directly to your BetOnline real money account without leaving the app! 



Types of Bitcoin Wallets

Mobile Bitcoin Wallets

Download a Bitcoin wallet from the App Store or Google Play Store for an enhanced security Bitcoin experience. Mobile wallets are free to download, are QR code enabled, and make for instant payments and transactions.

Most recommended for Android: Mycelium Copay

Most recommended for iOS: Breadwallet Copay


Desktop Bitcoin Wallets

Desktop wallets are also available to be downloaded to your home computer or laptop. Due to a computer’s increased susceptibility to hacking, using a desktop Bitcoin wallet comes with a slightly higher malware risk than a mobile wallet. The recommended versions below carry a smaller risk:

Most recommended for Windows: Electrum Exodus

Most recommended for Mac: Electrum Exodus




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