Author:
Sophie Henry
Last Updated on:
04/08/2021
Table of Content
- How to start betting with cryptocurrencies – Bet with Bitcoin
- Speedy deposits and withdrawals with crypto – Instant rewards
- Verifying your crypto account – Safe and secure transactions
- Other great Crypto bookmakers
- The history of cryptocurrency – The meteoric rise of digital cash
- Comparing crypto to other payment methods – A whole new world
- Why are cryptocurrencies so popular? – Safe gambling options
- Crypto FAQs – Avoid these four mistakes
- Crypto bookmaker bonuses
- Conclusion – Are crypto betting sites for you?
- Crypto betting sites FAQ
How to start betting with cryptocurrencies – Bet with Bitcoin
Bitcoin and other cryptocurrencies have been around for a few years now, providing a safe and anonymous way to do transactions online. Cryptocurrencies are digital currency that can be mined via your computer which solves complex equations to uncover small amounts of your selected crypto.
At its core, a cryptocurrency is a digital form of investing (and some would say gambling) as the markets are constantly in flux. If you can’t mine your own cryptocurrencies, you can purchase them as the markets rise and fall.
More than just a form of currency that can be mined and stored for a rainy day, crypto is finding its feet in the real world. Online stores are more accepting of the digital currency, it’s possible to purchase cars and clothing with a quick transfer, and there are even specialised online casinos that welcome the use of Bitcoin.
If you’d like to start using a crypto betting platform, you will need to follow a few basic steps.
- Step 1 – You will need access to a crypto wallet. These wallets are where your cryptocurrency is stored for safekeeping. Essentially, this wallet is the crypto version of a bank account. Keeping your funds safe from prying eyes – you should be the only one with access to this wallet. Depending on the wallet you use, you may be able to access your funds via your mobile device or even via downloadable software on your desktop.
- Step 2 – Find the best crypto betting website right here at Betting.net. We have a number of great options for you to choose from, each one delivering fun casino games, rewarding sports betting and so much more. Be sure to read through our extensive reviews before deciding where to spend your precious Bitcoin. The betting sites listed on this page will accept cryptocurrency and get you on your way to placing winning bets in no time at all!
- Step 3 – Your crypto wallet will generate a long series of numbers and letters called an address for you to use when making deposits or receiving withdrawals. When you want to deposit into the account of your favourite sports betting site, you will see an address provided when you select cryptocurrency as your betting deposit method. Insert this address into your wallet and the funds will instantly be transferred.
Now you can start betting at your site of choice. If there is a Bitcoin bonus available, this would be the perfect time to claim it and put it to good use.
Speedy deposits and withdrawals with crypto – Instant rewards
One of the most popular reasons for using crypto at a betting site is the speed at which deposits and withdrawals take place. The average human being doesn’t enjoy waiting and cryptocurrencies cut the waiting times of transactions from online betting sites exponentially!
While most standard online casinos or betting sites take a few days to process and release funds to a credit card or eWallet, banking with crypto is lightning fast. Deposits are instant (like most deposit methods) but so are withdrawals!
Instead of waiting at least 24 hours for a withdrawal request to be processed, most betting sites instantly release crypto funds and they will appear in your wallet within moments. For that reason alone, many customers are opting to use crypto for all of their gambling needs. Because what could be better than instant rewards in your account?
Verifying your crypto account – Safe and secure transactions
Cryptocurrencies, and Bitcoin, in particular, are decentralised digital currencies that are not powered by any one country or bank. Instead, this digital form of cash lives on the internet. You have total freedom to use or store your crypto as you please.
When you create a new account or wallet to use cryptocurrencies, you may need to verify your identity – but this depends entirely on which crypto you use and how you store it.
There are a large number of cryptocurrencies available, including Bitcoin, Ethereum, Tether, XRP, and many others such as Dogecoin – a meme coin that gained a fair bit of traction as a joke.
Each coin and the wallet you choose may have slightly different verification requirements but once they are complete, you’ll have the freedom to access your funds as you please. Plus, you can rest assured that your identity will remain anonymous (even though all transactions can be tracked on the blockchain).
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The history of cryptocurrency – The meteoric rise of digital cash
The concept of digital currencies has long been an intriguing possibility for internet users and forward-thinkers. Bitcoin may be the most popular crypto on the market right now but it is not the first cryptocurrency to ever be created.
In 1983, a cryptographer by the name of David Chaum created eCash, which later developed into DigiCash. This form of currency uses cryptography to make private and secure transactions. Unfortunately, DigiCash was ahead of its time and didn’t take off as hoped.
Fast forward to 1998 and the term “cryptocurrency” was brought to life by Wei Dai whose main aim was to create a decentralised currency that also used cryptography.
In 2009, an unknown person or group by the name of Satoshi Nakamoto, created Bitcoin – changing the face of the cryptocurrency market forever. In a few short years, Bitcoin went from being an unknown fad that drew the attention of internet users to being a form of currency that has the ability to change the world. Now worth tens of thousands of dollars, Bitcoin is the crypto to own with celebrities and business people from around the world sinking huge amounts of money into the digital currency.
As Bitcoin grew, many other cryptocurrencies jumped on the bandwagon hoping to reach the same heights. None have managed to grow quite as quickly but currencies such as Ethereum, Cardano, and others are starting to gain impressive traction.
What makes cryptocurrencies so intriguing? It’s the ability to skyrocket to success or plummet in an instant that keeps investors on their toes. A simple statement from the wrong celebrity and the Bitcoin market could crash within minutes or it could be boosted to heights never seen before. Much like gambling, investing in cryptocurrency is all about playing the odds.
Comparing crypto to other payment methods – A whole new world
While it’s hard to compare apples to oranges, cryptocurrency stands out from the crowd as a top contender in the payment solutions space. For one, you have complete control over your money and how it is spent.
Unlike eWallets and bank cards, crypto is handled anonymously. Transactions can be tracked on the blockchain but they are not tied to your identity which means you could spend all you like or withdraw huge wins and remain completely anonymous.
Finally, having instant access to withdrawals from crypto betting websites is hard to beat. Even the best payment methods tend to make you wait for your funds when making a withdrawal but this is not the case with cryptocurrencies.
While there are a number of deposit methods available, including the ability to use bank transfer betting sites, or even explore online betting American Express sites. The options are endless with eWallets and banking options. You can play at the best Venmo sportsbooks or make the most of Paysafecard betting sites but crypto is always a top option!
Why are cryptocurrencies so popular? – Safe gambling options
As we’ve already mentioned, cryptocurrencies are fast and anonymous which means you can access your funds and move them around without any fear of having your identity leaked.
More than just a fast way to move your money around, cryptocurrencies also offer extra layers of security. Thanks to the blockchain, all crypto transactions are encrypted and secured. This means you never have to worry about your funds going missing or being stolen.
Add to that the fact that you are the only person who should have access to your complicated access code and you’ll feel secure storing your funds in a crypto wallet.
It’s for these reasons that cryptocurrencies of all kinds have become increasingly popular over the last few years. Plus, if you have a suitable computer setup, you can literally mine free money in the form of your favourite cryptocurrency – and that’s always an appealing thought!
Crypto FAQs – Avoid these four mistakes
When using crypto betting platforms, it’s important to keep your head out of the clouds and to make sure that you’re spending your digital currency wisely. It can be tricky when you’re first getting started with cryptocurrencies such as Bitcoin. Here are four crypto FAQs for you to consider when making that first deposit. Learn more about crypto and enjoy betting on the blockchain with peace of mind.
- Should I always use crypto when gambling?
The choice is yours but you should always remember a few pointers. Cryptocurrency and Bitcoin, in particular, are not easy to come by and can be expensive. If there’s a better chance of your crypto climbing in value, it may be a better bet to hold onto your funds for a little longer. If you are going to spend your crypto at a top betting site, choose one that is safe and secure. - Can I join any betting site and use my cryptocurrency?
No, only particular betting sites accept cryptocurrency. While the number of sites that accept crypto is growing, you will need to find one that suits your needs. Be sure to read through the terms and conditions, find the best casino games or sports options, and learn more about bonuses that may be available before signing up for an account. You can read our handy crypto betting site reviews for more information on the best sites you should consider. - Will I receive a bonus when making a crypto deposit?
Depending on the betting site you’re visiting, you may be treated to a Bitcoin bonus from time to time but it’s not a given. Take a look at the promotions page and find out more about any crypto bonuses on offer before making your deposit. If you’re not entirely sure what the terms and conditions mean for you, contact customer support to find out more. - Will I have to deal with fees when playing at a crypto betting site?
Yes, crypto betting sites do charge fees for using your digital funds. Deposits and withdrawals may incur small fees that range from 2% to 3% but this could vary depending on your cryptocurrency of choice.
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Conclusion – Are crypto betting sites for you?
It’s no surprise that crypto betting platforms are becoming more and more popular with the rise of cryptocurrencies around the world. Everyone wants a piece of the crypto pie but it’s always important to choose a site with the right ingredients!
Ensure that you find a crypto betting website that caters to your needs, features top-rated betting options, and rewards you from time to time. Take a look at our list of betting site reviews and you’ll find yourself in good hands. You can rest assured that all of the sites featured here are safe, have been thoroughly reviewed, and will provide the best experience for when you’re looking to gamble with your crypto in the best way possible.
Crypto betting sites FAQ
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