Bitcoin has increasingly become an alternative payment method in the online world. And even in the betting industry, many sites now offer benefits and bonuses to make users opt for this payment. Crypto and Bitcoins sportsbooks betting are now attractive due to lower deposit and withdrawal fees and numerous games which various cryptocurrencies can play.
And whether you prefer cryptocurrencies or not, they are not going away soon. Though some crypto have failed to succeed in the market, others are largely successful. Also, considering the United States has legalized sports betting, you can tell that it’s the next big industry.
With crypto, Bitcoin (BTC) is the most popular, and many internet users use it to fund their online wallets. Whether it’s online gaming or more, users are increasingly starting to prefer crypto over their conventional currencies. You can extend your knowledge by read more about it.
Using Bitcoin for betting
To use bitcoin on the online betting sites, you need to load funds into the wallet. The wallet is the equivalent of a bank account, and it’s where you buy and sell the bitcoin or other crypto. Some bitcoin wallets are downloadable, while others can be operated from the web browser. Popular options include Paxful and CoinBase.
Once you choose the wallet, sign up for an account, activate it. Use strong passwords to keep the wallet safe and apply 2 step verification (2FA) security to protect your money. But like the conventional currency, you will incur transaction fees; however, they are lower and are deducted from your crypto wallet.
Bitcoin and other crypto are very secure because they are encrypted in the Blockchain. Blockchain technology has miners who work round the clock to ensure the safety and anonymity of transactions in their system. And with more anonymity, your wallet will remain safer.
Also, crypto servers are decentralized, with many servers worldwide plus nodes for tracking the system’s events. Therefore, if there is an issue with a server, the other servers can handle its tasks and ensure the cryptosystem remains secure throughout.
How to Pick the Best Bitcoin Betting Site?
Unlike a few years ago, many bitcoin sites have sprung up and offered users bonuses and other benefits to join their sites. If you are looking for the best betting site for crypto, then consider the factors below:
- Bonus and Free Bets
Most bitcoin betting sites have a first deposit bonus for new customers. Therefore, you will enjoy a fixed bonus or a percentage of your first deposit amount as a bonus. Some have wagering requirements that make it challenging to withdraw them without any deposit. Therefore, don’t just consider the bonus but their terms as well. Casinos are also stepping their game, and you should prefer providers with generous opportunities.
- Banking Options
When choosing a bitcoin betting site, always consider their minimum and maximum deposit and withdrawal amounts. Also, consider the amount you need to place a minimum bet. This helps you to know whether the site is ideal for your wagering needs and preferences. Also, check the site’s reviews via Reddit and other platforms to ensure it has no unresolved issues.
- Leagues and Games Selection
Some bitcoin betting sites only accept some leagues and games. But others offer numerous games from Yahtzee to a casino and even acrobatics. Go for a site with numerous leagues to give you multiple betting opportunities.
Some of the popular cryptocurrencies are:
- Bitcoin
- Litecoin
- Bitcoin Cash
- Ethereum
- Dash
Besides the above popular cryptos, you can find other cryptos that number over 30. Therefore, you have numerous options, but most betting sites offer only Bitcoin and a few cryptocurrencies.
Why Cryptocurrencies are the future of mobile gambling
Cryptocurrencies have revolutionized the world’s payment systems, including the gambling industry. And since the Central banks of governments do not regulate them, they are quite stable and are less affected by the country’s factors. And with betting, you will enjoy lower transaction fees than conventional currencies.
The no government involvement policy and the peer-to-peer transactions make cryptocurrency very attractive for gamblers.
Bottom-line
With the continuous rise of cryptocurrencies, bitcoin is slowly replacing the traditional payment system as the main payment method. Customers now love making deposits and withdrawals using Bitcoin due to the lower transaction fees and other benefits. Bettors can also gamble even in areas where gambling is not allowed as the feds cannot control the cryptocurrency market.
