Betting in BTC: good idea?
The finance sector has undergone a dramatic revolution since the introduction of crypto-currencies into economic habits. Having become a must-have since its inception, bitcoin has managed to conquer several fields, including the entertainment field, today. With bitcoin, it is possible to conduct several entertainment activities; it is even possible to bet online on matches! The reality is that many people still don't understand the stakes and all the benefits that this cryptocurrency can bring to their various betting activities. So here is the ultimate guide to figuring out the issue.
Benefit from the speed of financial transactions with bitcoin
Unlike fiat currencies that are usually used to bet on sports betting sites, bitcoin offers a huge advantage: saving time! Indeed, when you opt for this means of transaction to make your payments within the framework of your betting activities, you benefit from an unparalleled speed. Since bitcoin is a digital asset, the processing time for transactions is shortened in the process. The bettor no longer has to link his bankroll to his credit card in order to fund his account or withdraw his winnings.
Moreover, bitcoin is a preferred payment method as banking institutions can experience moments of malfunction, which can affect your betting activity for sure. Finally, from the point of view of withdrawals, it should be noted that gamblers are often forced to go to an ATM or a tobacco shop to get their winnings. With the bitcoin solution, the rewards are systematically received in the e-wallet and the bettor can then use it as desired.
Favour bitcoin to make deposits and withdrawals anonymously
During the registration process on betting platforms, the player is usually asked to enter personal information. This includes bank account information that is to be used to credit the bankroll and receive winnings. This can quickly become a problem for some bettors who do not wish to disclose their identities or link them to betting activities. To this end, the user of the BTC cryptocurrency can help to carry out his financial betting operations anonymously.
On the other hand, when the bettor links his bank account to his user profile on a sports betting site, each of his transactions is marked on his bank statement. This situation can quickly tarnish the image of a certain category of bettors. This is the case, for example, with gamblers whose professions are part of a public management framework or with politicians. Thus, bitcoin presents itself as an effective way to bet on sports matches without disclosing one's identity.
Bookmakers in BTC:
N°1
Huge choice on sports
| Mini deposit: €10 |
| €1.000 |
| 100% of first 4 deposits |
This full-service operator accepts all bettors, does not limit bets, offers a wide range of betting options and most importantly, excellent odds
Sport + Casino
| Mini deposit: €5 |
| €100 |
| 100% of the first deposit |
New betting site with no Irish taxes and restrictions, excellent odds.
Foreign bookmaker N°1
| Mini deposit: €10 |
| €122 |
| 100% of the 1st deposit |
Irish's favourite foreign sports betting site thanks to its odds and choice of bets and competitions
Using bitcoin to take advantage of a low-cost financial system
Cash currencies have long been used to validate bets on sporting events, but it turns out that bitcoin can provide an even greater return on investment. One of the reasons for this is that bettors usually have to pay a large fee to their financial operators when they have to withdraw their winnings. In other words, a relatively high withdrawal fee is deducted from the profit the punter makes when withdrawing his funds. With bitcoin, the reality is quite different!
When a bettor chooses to bet with bitcoin, there are fewer fees to pay, both when funding their bankroll and when withdrawing their funds. For example, at some bookmakers, no consideration is required when crediting his account with BTC. It is therefore up to the tipster to study the list of sports betting sites that not only accept this type of currency, but also do not require any transaction fees.
Safe betting with bitcoin
Common currencies are managed by financial institutions, like banks. Cryptocurrencies, on the other hand, are managed autonomously, i.e. by the user himself. Thus, to conduct your betting activities, it is essential to ensure the security of your funds. For this purpose, bitcoin is a preferred solution as there is less chance of your transactions being traced. Also, thanks to the encryption system that protects the assets of a BTC cryptocurrency user, the chances of having your money stolen are also very low.
Again, in order to bet safely, when you choose bitcoin, it is important to choose a sports betting provider that not only accepts the said currency, but is also reliable in terms of security. Indeed, the safety of your funds depends a priori on your level of vigilance, but also on the betting site on which you make your predictions. For recommendations, you should pay attention to the protection of your electronic wallet, because when it is vulnerable, the security level of your funds is also affected.
