If you’ve been on the Internet in the past few years, chances are you’ve heard of bitcoin. You may even know someone who knows someone whose cousin made a looot of money with it.
Or lost a lot
Okay, so what is bitcoin?
Simply put, bitcoin is a digital currency which was imagined over 10 years ago by this dude (or gal, no one really knows) called Satoshi Nakamoto. Fast forward to today, bitcoin works as an encrypted and decentralized network allowing almost instant transfers of value between peers.
Check out the video below if you wanna geek out for a bit and impress your friends with your newfound knowledge at your next dinner party.
So how do I make a deposit using bitcoin?
Good question! First things first, you’re going to need to sign in to your account. Don’t have one yet? No problem; it only takes about a minute.
See that little in the corner of the page? That’s it. Click on it, then click Join now. Follow the instructions and go to town.
Once you’re logged in:
1. Click on Banking.
2. Click on Deposit.
Option 1: “I’ve never played with bitcoin or any other crypto-thingies”
That’s alright, we’re not judging! In fact, we’d love to be your first. That’s why we spent a lot of time and efforts sourcing the best possible partner to make it as easy and painless for you to try.
3. Click on the Velvet Sky logo.
4. Enter the amount you want to deposit (make sure you’ve claimed your bonuses first if you’re into that sorta thing). The minimum is 25 units of currency.
5. Your transaction has been created! Note the wallet address at the bottom of the grey box. It’s ours. You will be asked to confirm that’s where you want to send all that virtual goodness in a moment. For now, a new tab will open so you can pick the preferred banking solution to buy your crypto instantly.
6. Follow the instructions. At the moment, you can use Visa, MasterCard or VoguePay’s eWallet to buy bitcoin. Since you’re using it to deposit, you don’t need to have your own wallet. No downloading the blockchain, figuring out which app to install on your phone or writing down a 12-word passphrase you’ll forget about 15 minutes later and log yourself out forever!
7. Now this is where you confirm that the crypto wallet matches the one we’ve shown you earlier. Click the Submit button. You’ll get a receipt for your purchase which you can keep for your records.
All done? Told ya, quick and painless. Velvet Sky keeps adding new deposit methods so expect even more choice in the future.
Option 2: “I know my way around, just gimme your wallet address”
So you were into crypto before it was cool huh? Good for you! At the moment, we only offer payouts in crypto. For deposits, we recommend using Velvet Sky, so that your balance is automatically converted into fiat currency the second we receive your transfer. We do this so that bitcoin’s volatility doesn’t affect your balance. After all, if you want to bet on bitcoin, you can simply trade it on an exchange. We’re working on adding NetCents to our banking solutions though, so stay tuned!
For now, Enjoy the ride.