Bitcoin 101

Bet With Bitcoin Cash: Making A Deposit at Cloudbet

It couldn’t be easier to deposit Bitcoin Cash into your account at Cloudbet.

1. Once you’ve created your account, copy your wallet address or scan the QR code. If you're not sure how to do that, read about what a bitcoin wallet is.

2. Choose the amount to send.

3. Hit send.


That’s all there is to it. We credit your account as soon as your deposit has a single confirmation on the blockchain. And remember we offer a 100% deposit bonus up to 5 BCH when making your first deposit.

When you send Bitcoin Cash, you can monitor the status of your transaction by checking the transaction ID on a blockchain explorer like blockchair or blockchain.com.

Why are there two addresses for Bitcoin Cash?

When choosing a Bitcoin Cash destination address, you have two choices of format: the new Bitcoin Cash address format and legacy. You may be more familiar with the legacy format. This is displayed in a similar way to bitcoin addresses and until January 2018 was the only address bitcoin cash users had. But the Bitcoin Cash developers wanted to make it easier to tell if you were sending bitcoin cash to a Bitcoin Cash address instead of accidentally to a bitcoin wallet. So they developed Bitcoin Cash addresses to help differentiate the two. You can tell which is which because the new Bitcoin Cash address has “bitcoincash:” at the start.

Do I have two Bitcoin Cash wallets?

No you don't.

The legacy address actually is the same destination as the Bitcoin Cash address. Imagine an address on envelope written in a different language. They look different but they'll end up in the same place.

We’d advise using the new Bitcoin Cash address where possible though. This is because, no matter which address you use, the transactions will be displayed in your feed with the Bitcoin Cash address instead of the legacy version.

We know that privacy and security is of the utmost importance to our customers so all our accounts can create new wallet addresses as standard. Once you’ve made a first deposit to your Cloudbet account in Bitcoin Cash you can generate another wallet address. And the funds will still arrive into your Cloudbet account.

About the Author
Cloudbet

Cloudbet

Cloudbet

Posted on 2018-07-12

Cloudbet has a team of contributors that produce high quality content across a range of subjects related to betting and crypto.

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