MGM Grand Market - Bitcoin Guide
New to cryptocurrency? Well don't worry, since MGM Grand Market supports the world's most popular cryptocurrency - Bitcoin. This means no fiat payments or anything else that could reveal your identity.
What do you need in order to acquire and use Bitcoin? Well, either a smartphone or a system running Windows, Mac or Linux will be sufficient. Since you're reading this, you must have one of those already. You're going to need some means of purchasing Bitcoin using fiat currency also, so a bank account or debit / credit card. Don't worry, purchasing Bitcoin is completely legal and nobody will know what you plan to spend it on!
The steps for purchasing Bitcoin
- Download a Bitcoin wallet. We recommend Electrum Wallet, but other alternatives such as Exodus Wallet are also good and have easy to use interfaces. These are available for almost all device types.
- Install and setup your wallet.
- Setup an account on a reputable cryptocurrency exchange such as Binance, Coinbase, Kraken or Nexo.
- Provide the necessary KYC documentation to complete registration.
- Purchase some Bitcoin using methods such as credit / debit card, bank transfer, PayPal etc.
- Send this Bitcoin to the external wallet you setup (e.g. Electrum). It is important you do this before conducting a transaction on the market to protect your anonymity.
- Login to the market and navigate to the wallet page.
Depositing on the market
To deposit funds to your market account; copy and paste your assigned wallet address into your chosen software, then send the amount of Bitcoin you wish to spend. It is recommended you send a few percent extra to cover any changes in cryptocurrency price that may occur, as it can be quite volatile and you don't want to be left a few cents short.
It takes 3 confirmations before funds are available to spend, which can take up to 45 minutes. Ensure you use a sufficiently high transaction fee. You can also check out Electrum Wallet if you have any problems sending funds from an exchange. Or check out a tutorial on YouTube. Any problems, just send us a support ticket on the market and we'll be happy to help.
And just like that, you're now an expert in using Bitcoin. Should you send too much to the market or receive a refund, you can easily withdraw the funds again by following the instructions in the wallet area.