To deposit Bitcoin to your Paxful wallet: 1. Log in to your Paxful account and click Wallet. The Wallet page appears. You can process payments and invoices by yourself or you can use merchant services and deposit money in your local currency or bitcoins. Most point of sales businesses use a tablet or a mobile phone to let customers pay with their mobile phones.
More people are starting to use Bitcoin and other cryptocurrencies due to their increasing influence in the global landscape. However, as more people venture into the industry, a lot of them struggle to carry out some activities. While they are regarded as primary, these activities are often tough to carry out.
Depositing money into a Bitcoin wallet is easy to do. Luckily, we will discuss the various steps involved in depositing money into your Bitcoin wallet account.
Steps to Depositing Money in a Bitcoin Wallet
This is a complicated question as there is no direct answer to it. In most cases, you cannot deposit money in a Bitcoin wallet. Instead, you can buy Bitcoin from exchanges or other platforms using cash and then load it to your Bitcoin wallet.
Here are the steps to take to achieve it:
How To Fund Bitcoin Wallet
Download a Bitcoin wallet
The first step to do is to get a Bitcoin wallet. The Bitcoin wallet you are to acquire can either be a cold storage wallet or a hot wallet. However, we highly recommend using cold storage wallets like Trezor and Ledger due to the higher level of security they offer to users. It is almost impossible to hack cold storage wallets and you can be sure of protecting your coins reserve from malicious actors.
There are several online wallets also available. You can choose from the wide range currently available to you. Some of the online wallets like Luno allow you to deposit the funds and buy Bitcoin from them. However, most of them just store Bitcoin for you.
It is best to have a wallet rather than store your Bitcoin reserve on a cryptocurrency exchange. Over the past decade, billions of dollars have been lost from exchanges as a result of hacks.
Buy Bitcoin from Exchanges
After downloading your Bitcoin wallet, the second step is to use your money to buy BTC from cryptocurrency exchanges or P2P platforms. Cryptocurrency exchanges are the most preferred destination due to their high liquidity. You can easily find buyers and sellers of BTC on the crypto exchanges.
You can try some of the leading cryptocurrency exchanges such as Binance, Coinbase, Coinmama, Bittrex, Bitfinex, and more. To purchase BTC from exchanges, you will have to create an account with them. When your account is activated, you can deposit fiat currency. It can be US Dollar or any of the other fiat currencies they accept.
Once you have deposited the funds, proceed to buy BTC using the BTC/USD pair. You will be given the BTC that matches the amount you deposited. Once your cryptocurrency exchange wallet is credited with the BTC, you can transfer it to your Bitcoin wallet for safekeeping.
Transfer to Bitcoin Wallet
When opening your Bitcoin wallet, you will be given a unique code, which is known as your Bitcoin wallet address. The address is what you use to receive BTC from others. Copy the BTC wallet address from your Bitcoin wallet and use it to transfer funds from the cryptocurrency exchange you purchased BTC.
Once you transfer the BTC from the exchange to your wallet, it will reflect within a short period. Keep in mind that the security of your BTC reserve is now in your hands. When using a cold storage wallet, ensure that your private keys remain private and protected at all times. This way, hackers find it immensely impossible to get into your account and steal your funds.
We advise users to backup their wallets so they can easily retrieve their private keys when they misplace or lose it. You can write down the recovery phrase or note on a piece of paper or a notepad and save it in a secure location. You can use the recovery phrase to regain access to your account in case you lose your mobile phone or computer device or it gets stolen.
With the funds now safely in your Bitcoin wallet, you can keep it for future gains or use it to pay for goods and services in the future.
Final Thoughts
Depositing money directly into your Bitcoin wallet is a hard task as most wallets accept only cryptocurrencies. However, you can fund your Bitcoin wallet by purchasing the BTC from cryptocurrency exchanges or peer-to-peer trading platforms and transferring the coins to your wallet afterward. The process is easy and doesn’t take more than a couple of minutes to carry out. The funds will be available in your Bitcoin wallet in no time.
A deposit is simply an online purchase of funds that are added to your casino account that you then use for betting. Making a deposit at an online casino is exactly what you would do at a land-based casino, where you would buy gambling chips to play at the tables. Your chips – hopefully more than you started with! – can then be cashed in at the end of the evening. Just like your online winnings can be cashed out back into your bank account or e-wallet. (There are restrictions regarding bonuses, however, see ‘About our Bonuses’ above.)
While credit cards and e-wallets are traditionally the most popular ways to deposit, other methods such as cryptocurrencies (like Bitcoin) are quickly becoming more popular.
Credit Card Deposits
We accept both Visa and Mastercard, and guarantee that your required security information with every transaction is encrypted and completely secure.
If your credit card deposit is declined the first time you try, don’t worry, this is common with online gaming transactions in some regions. If this happens, simply try your card again, which will often work the second time around. If the transaction continues to be declined, then try a different card if you have one. It is common for different credit cards have varying success rates depending on the country and region you are in.
E- Wallet Deposits
An e-wallet is simply a ‘virtual’ wallet that you can use to store money online. A common example of an e-wallet is PayPal. From e-wallets you can purchase items from websites or, in the case of online casinos, pay into your casino account and get paid out when you win.
The advantage of using an e-wallet to deposit is that the success rate of deposits is almost always 100%, as opposed to credit cards, which can vary depending on your location.
Not all e-wallets are available in every country, so please refer to the chart below for information on e-wallets available in your region.
Fast and easy deposits to your Casino Account. | |
Premier Pay | For Canadian players. A selection of standard (DirectDebit/EFT, Interac e-Transfer) and alternative payment processing services and solutions. |
![Bitcoin wallet deposit Bitcoin wallet deposit](/uploads/1/3/7/0/137029801/721292548.png)
For information on how to open an e-wallet account of your choosing please click the link next to your wallet of choice and refer to the instructions on the website.
Bitcoin Wallet Credit Card Deposit
Cryptocurrency Deposits
Cryptocurrencies such as Bitcoin are fast becoming the definitive way to deposit and withdraw at online casinos, but it is not just online casinos that benefit from this new form of currency. Many economists agree that with the rise of cryptocurrencies as the new purchasing medium for the digital age, traditional forms of money, or “fiat”, may eventually be obsolete.
There are several different cryptocurrencies in the market but the largest and most secure is Bitcoin. At DuckyLuck Online Casino we offer deposits and withdrawals in Bitcoin. The advantages of using Bitcoin include increased security, convenience (you can send or receive bitcoin from anyone anywhere in the world instantly), privacy (no banks or governments are involved, your transactions are completely private).
Find My Bitcoin Wallet
To get started with this exciting new form of currency we recommend using this easy-to-navigate website www.cryptocurrencyhelp.com which will walk you through the steps of opening your own Bitcoin wallet. Once you have created and funded your Bitcoin wallet, simply choose Bitcoin from the options when making your deposit.
How To Deposit Money In A Bitcoin Wallet
TIP: Often credit card and e-wallets companies charge fees for the use of their services and they can vary based on where a customer is located. While we try to make deals with credit card processors and e-wallets that charge the smallest fees possible, we highly recommend that players use Bitcoin to deposit and withdraw at DuckyLuck.ag to avoid these fees.