What is Bitcoin?
Bitcoin (BTC) is a cryptocurrency, a form of electronic cash. It is the world's first decentralized digital currency and it was designed to work without a central bank or single administrator. Although Bitcoin is arguably the best know cryptocurrency, there are many more, including Litecoin and Bit Cash. You can use all three of these cryptocurrencies to fund your racing account.
Why should I use Bitcoin?
• It’s fast. Once you send your Bitcoin to your racing account, the funds will be credited within 30 minutes.
• It’s secure. Every bitcoin transaction is cryptographically logged onto a massive ledger (aka, a “blockchain”). Bitcoin has never been “hacked.”
• It's cheap. Who wants to get a cash advance fee on their credit card? Nobody! Not only is sending Bitcoin fast and secure, it is incredibly cheap. International bank wires can sometimes take up to 10 business days and often cost more than $85. Bitcoin is settled quickly and if you were to send $1,000 USD in Bitcoin it would typically cost only a couple dollars.
Can I get a payout with Bitcoin?
Absolutely. In fact, Bitcoin is our fastest payout option and completely free. Once you have submitted your request you will have the funds sent to your Bitcoin address within two business days.
What is a Bitcoin Debit Card?
Depending on where you live, you can sign up for a VISA debit card which is connected to your bitcoin account. BitPay (www.bitpay.com) provides seamless integration of debit cards and bitcoin. If you have a Bitpay Debit Card, we can send your bitcoin withdraw directly to your bitcoin wallet and then you can use your debit card to make purchases in your local currency just like you would with any debit card.
How else can I use Bitcoin?
•Shopping. Many merchants accept Bitcoin. Companies like Overstock, Stripe and Microsoft accept bitcoin as do thousands of other merchants across the world. Yes, you can even but your morning coffee with bitcoin if you wanted!
•Travel. Feel like booking a hotel or airfare with Bitcoin? You can do that, too. Cryptocurrency is in its infancy but it is changing how people experience financial transactions.
•At the track. We expect that you will be able to use Bitcoin at certain racetracks beginning in 2019!
Start betting with Bitcoin today!