Bitcoin at gday007: a way in, not a way out

Bitcoin at gday007: the facts first

gday007 accepts Bitcoin for deposits from AU$7. A Bitcoin deposit reaches your balance in 10–30 minutes, gday007 adds no fee, and the only cost is the network fee your wallet charges to send the coins. Bitcoin cannot receive a withdrawal, so your winnings come back through PayID, Skrill, Neteller or Payz, within 5 minutes and from AU$30.

Send Bitcoin and nothing else to the address gday007 gives you. Ether, USDT and other coins are not accepted, and a token that only calls itself Bitcoin on another blockchain is not the same thing.

How a Bitcoin deposit actually moves

Bitcoin is not held by a bank. It sits on a public ledger called the blockchain, and your wallet holds the keys that let you send it. When you deposit, three things happen in order.

1. Your wallet broadcasts the payment. You send BTC to the deposit address gday007 shows, and the transaction goes out to the Bitcoin network with the fee you chose.
2. Miners pick it up. Transactions wait in a queue until they are packed into a block. New blocks arrive roughly every ten minutes on average, though the gap varies.
3. gday007 credits the confirmed payment. Once the transaction is confirmed on the network, the AU$ value lands in your gday007 balance.

That chain is why Bitcoin sits at 10–30 minutes while PayID, cards and e-wallets are instant. The waiting is on the network, not on gday007.

Before you start: getting Bitcoin into a wallet

If you already hold Bitcoin in a wallet you control, skip to the steps below. If not, the usual route for Australians looks like this:

• Buy through a crypto exchange. Exchanges let you pay in Australian dollars and buy BTC. They have their own sign-up and identity checks, which they explain when you join.
• Decide where the coins sit. Many exchanges let you send straight from your exchange account. Others prefer to move the coins to a personal wallet app first.
• Check the exchange's own rules for sending. Some exchanges hold newly bought coins for a period, or set their own sending amounts. That is between you and the exchange.

If buying Bitcoin is a step you would only take to deposit at gday007, another method may be simpler. PayID, Apple Pay and Google Pay all start at the same AU$7 and land instantly.

Depositing Bitcoin at gday007, step by step

1. Log in to gday007, open Deposit and choose Bitcoin.
2. Enter the amount you want to deposit. It must be at least AU$7.
3. gday007 shows a Bitcoin deposit address. Use the copy button rather than writing it down.
4. In your wallet or exchange, choose Send, pick Bitcoin (BTC) and paste the address.
5. Check the network field says Bitcoin. If your wallet offers several networks for BTC, the plain Bitcoin network is the one you want.
6. Enter the amount, look at the network fee, and confirm the send.
7. Leave the gday007 tab alone and allow 10–30 minutes for the deposit to reach your balance.

Your wallet gives you a transaction ID (sometimes called a TXID or hash) once the payment is sent. Copy it somewhere handy. It is the one detail that lets anyone trace a crypto payment.

Three checks that save a lost payment

A Bitcoin payment is final. There is no bank to call and no chargeback, so a mistake on the address or the network can mean the coins never arrive. These three checks take under a minute.

The address

Bitcoin addresses usually start with bc1, 1 or 3 and run to dozens of characters. After pasting, compare the first four and last four characters with the address on the gday007 screen. Some malware swaps a copied address for a different one, and this comparison catches it.

The network

Wallets that hold many coins sometimes list wrapped or bridged versions of BTC on other chains. Those are different networks, and a deposit sent over one of them will not reach a Bitcoin address. Choose the Bitcoin network itself.

The amount after the fee

Make sure what arrives is still at least AU$7. Some wallets take the network fee out of the amount you type, so the coins that land are slightly fewer than you entered. Send a little above the minimum to leave room.

The network fee and the Bitcoin price

The network fee pays miners to include your transaction in a block. It depends on how busy the network is and how quickly you want the payment picked up, not on how much you send. An AU$10 payment and an AU$200 payment can carry the same fee. That makes the fee a bigger share of a small deposit, which is worth weighing when you are paying in near the AU$7 minimum.

Most wallets suggest a fee and some let you choose slow, normal or fast. A very low fee can leave the transaction waiting in the queue for longer than usual. A normal or suggested fee is the safer choice if you want to play within the 10–30 minute window.

Bitcoin's price in Australian dollars also moves through the day. If you buy coins on an exchange and send them later, the dollar value of what you hold may have shifted a little in between. Buying and sending close together keeps the figure near what you planned.

A small Bitcoin deposit, worked through

An illustration with small, round figures. You hold some Bitcoin on an exchange and want about AU$20 in your gday007 balance for an evening of pokies.

The deposit side took a quarter of an hour; the withdrawal took five minutes and went to a bank account, not back to the exchange.

Bitcoin against the instant gday007 methods

Bitcoin makes the most sense when you already hold coins and prefer to fund your play from them. If you are starting from Australian dollars in a bank account, PayID gets you playing sooner and handles the cash-out too. PayID deposits and withdrawals at gday007

Who Bitcoin suits at gday007, and who it does not

Bitcoin earns its place for a fairly narrow group of players. It is worth using when:

• you already hold Bitcoin and would rather play from it than move money out of your bank;
• you are comfortable with wallets, addresses and network fees, and you check a payment before sending it;
• a 10–30 minute wait before playing does not bother you.

It is the wrong tool when:

• you would need to open an exchange account and buy coins just for this deposit;
• you want to start a session straight away;
• you are paying in close to AU$7, where a network fee takes a noticeable bite;
• you expect winnings to go back to the same wallet, which Bitcoin cannot do at gday007.

Plenty of players keep Bitcoin for the odd larger top-up from coins they already own, and use PayID or an e-wallet for everyday deposits. There is no rule against mixing methods from one session to the next.

Keeping track of crypto deposits

Bitcoin payments are easy to lose track of, because they sit in a wallet history rather than a bank statement. A simple note for each deposit helps with your budget and with support if a payment ever needs tracing. Record the date, the AU$ amount you entered at gday007, the BTC amount sent, the network fee and the transaction ID. Comparing those notes with your gday007 deposit history at the end of each month gives you an honest picture of what you have spent on play. Setting a deposit limit at gday007

Cashing out after a Bitcoin deposit

Your gday007 balance is in Australian dollars once the Bitcoin is credited, and that is how it is paid out. Choose one of the four payout methods on the withdrawal page:

• PayID sends the money to the bank account linked to your own PayID, within 5 minutes and guaranteed. Register a PayID with your bank before you need it.
• Skrill, Neteller or Payz pay into your wallet within 5 minutes. You need an account with the wallet you choose. E-wallets at gday007

Every payout starts at AU$30 and gday007 takes no fee. If your balance is under AU$30 it stays in your account for next time. How long gday007 withdrawals take

When a Bitcoin deposit has not arrived

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Bitcoin at gday007: questions