The rise of crypto sports betting sites has completely changed the way people gamble online. Instead of using a credit or debit card, they now use Bitcoin, Ethereum, and other cryptocurrencies.
Instead of using a traditional payment method, they now accept cryptocurrency as their go-to. Bettors can now gamble on both sports and online casino games using cryptocurrency. Crypto gambling is also more secure than traditional gaming.
Due to the nature of the games offered by sports betting sites, it’s no longer necessary to have a gambling background or expertise to play at an online casino. If you’re looking to ease into betting online through your prized collection of cryptocurrencies, here’s all you need to know to start betting.
How Popular Is Crypto Betting?
According to estimates, around 60% of all Bitcoin transactions involve crypto betting. Betting sites have adapted to this current market trend and made it ever so easier for bettors to start using their digital currencies on their websites instantly. To start playing, you need to find an appropriate site and make an account. Many sites allow you to easily transfer your winnings made through crypto betting to a bank account or an e-wallet.
To place a bet, you need to purchase cryptocurrency at the exchange rate at the time of the purchase. After linking your wallet to the bookie’s account, you can start transferring funds to it.
Advantages Of Crypto Betting
Aside from placing a bet, crypto sports betting also allows players to remain anonymous while transferring funds. Unlike fiat money, you can’t see your account details or personal details when placing a bet. This is very useful for people who prefer to remain anonymous and don’t want their betting transactions to do a number on their credit score.
Although some payment methods take a while to process, cryptocurrencies provide instant funds to start placing your bet. All deposits are free of charge compared to the fees charged by traditional bookies. Another benefit over fiat currency is that crypto betting sites don’t require a deposit to get started, and they usually allow their users to withdraw their funds within a shorter time frame. Also, these sites usually have lower conversion fees than those of traditional bookies.
Best Crypto To Have Before Betting Online
Before you start playing with cryptocurrencies, it’s important to understand what they are and their various characteristics. Blockchain technology is used to create digital currencies. Unlike fiat currencies, cryptocurrencies are not backed by physical commodities or institutions. They are digital currencies that are not subject to government intervention or manipulation.
The value of cryptocurrencies is determined by the market forces created by buyers and sellers. They are created through a process known as crypto mining, which involves processing power and solving math problems. Bitcoin has been the market leader in terms of value.
Although Bitcoin has been the most popular cryptocurrency for online betting, other cryptocurrencies have also gained acceptance. Some of these include Ethereum and Xapo. Due to Bitcoin’s emergence and dominance, it will be difficult for other cryptocurrencies to challenge it in the future. Its value has the highest acceptance rate among crypto betting sites.
While it’s the most popular cryptocurrency among online gamblers, Litecoin is starting to gain popularity due to its low transaction fees.
Many crypto betting sites and users are starting to accept Litecoin, with several betting sites also using it as their exclusive payment method and getting rid of fiat currency altogether. This cryptocurrency is also known to have the lowest transaction fees.
Bitcoin is easily available for purchase anywhere in the world. Ethereum is another cryptocurrency that uses the same open-source blockchain asBitcoin. Dash is also gaining popularity in the US and has experienced crypto traders are keeping an eye on it as a potential investment.
Another cryptocurrency that’s similar to Bitcoin is called Tether. It’s a stablecoin that maintains its value at $1.00 per unit. Its creator, Tether Limited, maintains a reserve of $1.00 for every tether issued.
Stability is a key characteristic of Dai, another popular cryptocurrency that’s accepted on many betting sites. Its decentralized nature and its ability to provide a stable value are two main factors that make it popular.Unlike Bitcoin, Dai is not backed by any physical commodities or institution. Instead, it uses its Maker platform as its collateral.
Find The Best Crypto Betting Sites On Betting Sites Ranking
With an influx of betting sites that are providing acceptance for cryptocurrencies, it can be hard to find one that is safe, regulated, and provides users with value for money. Since crypto is an encrypted currency that values your privacy, bettors need to choose a site that also mimics these values.
If you’re looking for the best crypto betting site that provides users with diversity in payments while at the same time offering a multitude of payment methods, Betting Sites Ranking has got you covered.
The site aggregates a tier-based list of over 200 sportsbooks that accept users from over 100 countries from all over the world to give you multiple options for all your crypto betting needs. They provide detailed reviews of each site featured on their page so that bettors can make an informed decision on which site is worth their time. View their list of the best crypto betting sites to get started, or check out the best betting sites in your country to find one that suits your needs best.
About The Author
The author has over 15 years of diversified experience in the world of betting, from sportsbooks to casinos, and has spent the past fiveyears teaching bettors about the benefits of crypto betting. He has been associated with Betting Sites Ranking for overfiveyears.