In South Africa, it is sometimes difficult to withdraw your well-deserved Bitcoin earnings at online gaming sites. You put in the time, work, and maybe some luck to win it all, so of course, you would expect a smooth transaction while cashing out. This post offers a tutorial for withdrawing your Bitcoin profits from playing games like Cogwheel, available at Tower.bet.
Understanding the withdrawal process
The first step to successfully withdrawing your Bitcoin winnings is understanding how the process works. Generally, the withdrawal process on platforms like Tower.bet, available at https://tower.bet/en-ZA, is designed to be user-friendly. You’ll need to access the withdrawal section of your gaming account, where you’ll enter the amount you wish to withdraw and provide your Bitcoin wallet address.
Verifying your identity
Most platforms, Tower.bet included, will require you to confirm your identity before you withdraw any of your Bitcoin winnings. This procedure is necessary to heighten security and prevent fraud. Providing a copy of your ID or passport and some evidence of residence may be part of the verification process.
Although it may appear troublesome, this step is crucial because it ensures that you and the platform are safe. Verifying your identity means that future withdrawals will flow better and be done quickly. One should undertake this stage immediately after joining the platform so there are no issues when they want to take out money later.
Calculating your withdrawal amount
Consider the charges and the prevailing value of Bitcoin in the market while determining the amount to withdraw. Bitcoin is not stable, so if you time it well, it can really affect how much money you get in the end. Also, be informed that platforms such as Tower.bet may impose minimum and maximum limits on the amounts that can be withdrawn.
For example, when Bitcoin is gaining value, it would be wise to withdraw a lot of money so that you earn maximum profit. On the other hand, in case of high market variability, it would be safer to withdraw less money but more often.
Transferring to your wallet
After you request to cash out, the Bitcoin will move from your gaming account to the wallet address you indicated. Depending on how fast your withdrawal process takes, this may occur in several minutes or hours.
It is crucial that one uses trustworthy Bitcoin wallets that have high levels of security, including two-factor authentication. By doing so, you can be sure that after moving out from the platform, your win is still intact. As soon as you receive the Bitcoins in your wallet, it would be advisable to verify that the transaction has been affected as expected by looking at the blockchain.
Converting Bitcoin to fiat currency
If you want to convert your Bitcoin profits into South African Rand or any other standard money, you will have to go through a cryptocurrency exchange. Most of these exchanges enable users to convert their bitcoins into different fiat currencies that can be transferred to their bank accounts after some exchanges with favorable rates and low charges.
Select an exchange that offers good rates and low charges. Some examples of such exchanges widely used by South Africans are Luno or VALR. After exchanging Bitcoin for fiat currency, you can wire the money straight into your bank account and finalize everything.
It is simple to withdraw Bitcoin winnings from playing Cogwheel at Tower.bet once you know what to do. You can quickly cash out your winnings by verifying your identity, calculating the withdrawal amount, and selecting an appropriate transfer speed.