If today more than 60% of global transactions involving Bitcoin have a close link with the gaming industry, it is because several factors promote this popularity. Speed, ease, security, anonymity, etc. are just a few of the advantages that encryption offers to network participants.
Easier, faster and more secure payments
Let’s say you bet on a conventional online betting site. Suppose you use a debit or credit card to make this deposit. Once you have selected the amount you wish to bet, you need to enter your card number. The next step would be the validity date and, finally, the security code on the back of the card. That’s a lot of information to give to an online gambling site – and whether or not you trust a bookmaker, there is always that degree of “is it safe” when you make deposits like this.
When you use a crypto-currency to make a deposit, the process is completely different. Instead of giving your sensitive payment method information to the betting site, the only thing you have to do is copy the address of their crypto-wallet and send them the currency you are going to deposit in. Within minutes, the deposit will appear in the bookmaker’s backend system, and you will be able to start placing bets right away!
Bettors avoid prying eyes
Because of the way in which crypto-currencies are developed, they are generally regarded as a much safer alternative for punters compared to conventional payment methods. This is one of the main advantages of using crypto-currencies such as Bitcoin. It’s completely anonymous. No one can trace incoming and outgoing payments from your online gaming accounts, and as long as you follow some basic security measures, you will be able to play without anyone knowing! Another major advantage of using crypto-money on sports betting sites is that the transactions do not appear on your bank statements.
Another major advantage of using crypto-money on online betting sites is that there is no intermediary when you make payments. Most online gambling sites pay between 1 and 4% per card transaction, and as you can imagine, these fees are passed on to the bettors. You may be asked to pay the fee or the bookmaker may prove this to you by offering you smaller and less frequent bonuses.
Bitcoin in the gambling industry
Cryptocurrencies such as Bitcoin have completely changed the way sports betting works. Bitcoin Sports Betting has attracted public interest since its launch. Whether it’s lower transaction costs, faster payments or the increased anonymity associated with online payments, it’s clear that crypto and sports betting is a natural fit. Indeed, starting to bet using crypto-money is a simple process.
Bitcoin provides some additional advantages over other currencies and crypto-currencies. There is no fee for converting currencies to Bitcoin, no matter where users are located. This is a characteristic that is missing from the traditional betting sphere. In addition, the funds are immediately credited to the users’ bookmaker account, enabling them to start betting instantly as and when they prefer. All transactions on crypto sports betting sites are instant, transparent and unchangeable. In addition, the market performance of this leading crypto-currency is very promising at the moment.
Over the past 5 years, the number of sports betting games that accept crypto-currencies such as Bitcoin has drastically increased. There are now more than 60 online gambling sites that specialize in or accept crypto-money – and you can enjoy a fast, secure and worry-free online betting experience when you choose to use crypto.
Bitcoins are also easier to acquire than ever before. There are hundreds of online trading platforms that allow you to buy them – and you can choose to do so using cash, debit and credit cards, EWallets like PayPal and Skrill, and even direct bank transfer!