How to Deposit/Withdraw?
Last updated
Last updated
With Bookie, funding your account by depositing Bitcoin (BTC) is easy takes only a few steps. When you deposit BTC, ckBTC will be minted and sent directly to your non-custodial wallet to enable fast, cheap and secure peer-to-peer betting. Here’s a quick guide to walk you through the process.
Log In: Sign in to your account.
Go to Wallet: Navigate to the Wallet page.
Get Your BTC Deposit Address: A unique BTC address will be generated for your deposit. This is the address you’ll send your BTC to from which ckBTC will be minted.
Important: Always ensure you’re copying the full BTC address, as sending assets to an incomplete address could result in lost funds.
Copy the BTC Deposit Address: Click Copy to copy the address.
Initiate the Transfer:
Open your external BTC wallet or exchange where your BTC is stored.
Choose “Send” or “Withdraw.”
Paste the BTC deposit address you copied in the “Recipient” field.
Enter the Amount: Specify the amount of BTC you want to deposit and confirm the transaction.
Bookie offers the fastest ckBTC minting on the blockchain. Once your BTC receives sufficient network confirmations (which vary and will take longer for larger deposits) we will disburse ckBTC directly to your wallet.
Check Your Wallet: Once the process is complete, you’ll see the ckBTC in your wallet under your account’s balance.
Use ckBTC: Now that you have ckBTC, you can securely use it on Bookie.
When you request a withdrawal, your ckBTC unmints and converts back to BTC, which is sent to your designated BTC address. Here’s how to complete the process.
Log In: Sign in to your account.
Go to Wallet: Navigate to the Wallet page.
Choose Withdraw: Click Withdraw and the system will guide you through entering your BTC wallet details.
Enter Your BTC Address: In the withdrawal form, paste the address of the BTC wallet where you want to receive your funds. This could be a personal wallet, exchange wallet, or hardware wallet—just ensure it’s capable of receiving Bitcoin.
Double-Check the Address: Always verify the BTC address carefully. Crypto transactions are irreversible, so an incorrect address could result in lost funds.
Specify the Amount: Enter the amount of ckBTC you wish to withdraw. This amount will be unminted and sent to you as BTC.
Review the Details: Confirm the BTC address and withdrawal amount.
Confirm the Transaction: Submit the withdrawal request. The platform will process it, and your ckBTC will be unminted and converted back into BTC at a 1:1 ratio.
BTC Transfer: Once the ckBTC is unminted, the corresponding amount of BTC is sent to your BTC wallet address.
Network Fees: Please be aware that standard BTC network fees apply to deposits, as BTC transactions incur a miner fee.
Minimum Deposit/Withdraw Amount: Ensure the amount you’re depositing/withdrawing meets the minimum required.
Processing Time: Deposit/Withdrawal requests are typically processed quickly but may vary slightly depending on blockchain traffic.
