• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
WittySparks Logo White

WittySparks

Ignite Your Thoughts

  • Topics
  • Reviews
  • Newsletter
WittySparks / Finance / Trend: Betting Sites Start Allowing Cryptocurrencies
Sports betting accepts cryptocurrency

Trend: Betting Sites Start Allowing Cryptocurrencies

Updated: January 31, 2023 by Nishitha

Cryptocurrency betting is doing well. The gambling industry is one of the places where cryptocurrencies have kept increasing in popularity. One of the reasons for this is the increased security that cryptocurrencies can provide.

More bookmakers are offering cryptocurrency as a payment method at their betting sites. There seems to be a coherence between this and the fact that more bettors prefer betting with cryptocurrencies. In some ways, cryptocurrencies are a safer payment method, but it’s the opposite in other ways. The value of cryptocurrency is dependent on a fluctuating market. This means you never really know how much your money’s worth.

It’s estimated that around 60% of the total Bitcoin transactions are related to gambling of some sort. One of the reasons for this could be the possibility of betting from places where it’s not legal. But there are also several other advantages to using bitcoin or other cryptocurrencies. This means that many betting sites are allowing this type of payment. You can find the best betting sites at Betting.com.

On this page

  • How do you bet with cryptocurrency?
  • Advantages of betting with cryptocurrency
  • Disadvantages of betting with cryptocurrency

How do you bet with cryptocurrency?

If you want to start betting with cryptocurrency, you need to find a bookmaker that accepts cryptocurrency. It would help if you opened up an e-wallet to make transactions from when you’ve set up an account. You have to buy some cryptocurrency for your e-wallet.

The price of this will vary depending on the exchange rate on the particular date of your purchase. You don’t have to worry about transfer fees with cryptocurrency. This transaction is free and instant. At the same time, you don’t know whether this money will lose or gain value over the next couple of hours or days.

Advantages of betting with cryptocurrency

There are several advantages of betting with cryptocurrency. Anonymity is one of them. This is one that many bettors seem to find important. Cryptocurrencies allow you to be anonymous when betting online. Your personal details and account information are not passed on to the bookmaker.

Transactions with cryptocurrency are also both free and fast. Other payment methods can take some time to process, but this transaction is instant with cryptocurrency. This means you can start betting as soon as you’ve made your transaction. Other payment methods often have transaction fees, but transactions with cryptocurrency are free. The only fee you have to pay is a withdrawal fee.

Disadvantages of betting with cryptocurrency

The biggest disadvantage of betting with cryptocurrency is the instability of the market. This means that the value of your money could potentially drop fast. This means you not only need to be a good bettor but also a smart cryptocurrency trader if you want to secure your money.

You need to follow the market and do your exchange at the right time. The returns of your betting activities not only rely on the bets but also on the cryptocurrency market. At the same time, it can be hard to know whether the cryptocurrency betting sites are legit.

Related Topics

  • The Psychology Of Money By Morgan Housel Book Review
  • How Many Savings Accounts Should You Have and Why?
  • Which is better – debt fund or fixed deposit?
  • Cryptocurrency Market Analysis For Innovation
  • The role of Business Intelligence in Financial Business?
  • How did Financial Services change by Digital Transformation?

Topic: Finance

Previous Post: « Creating A Powerful Social Media Campaign
Next Post: Todoist & Twist: How do these tools simplify digital businesses? »
Profile picture for Nishitha

About Nishitha

Co-founder of WittySparks
WittySparks Staff

I am done with my Physiotherapy Graduation. And I always try to share Health and technology tips with people. Apart from Physiotherapy and being a tech savvy, I do explore more on Technology side and I keep sharing my findings with wider audience.

View all posts by Nishitha

Primary Sidebar

Featured Productivity Software

Notion logo
Notion

Notion Workspace can help you stay organized, get started today and take your productivity to the next level.

Try Notion for FREE

Exclusive Coupons

  • Moqups coupon code: WITTYSPARKS for 20% or PARTNERS50 for 50% discount.
  • WPForms coupon code: WITTYSPARKS for 50% off.
  • Serpstat coupon code: wittysparks_discount for 30% off.
  • SEO Buddy coupon code: WITTYSPARKS for 25% off.
  • Morningscore coupon code: wittysparks for 30% off for 3 months.
  • FlexClip coupon code: WITTYSPARKS for 30% off.
  • Uplead coupon code: “witty” for 30-day free trial.
  • FastestVPN coupon codes: WITTYSPARKS15 or WITTYSPARKS10 or Get up to 93% OFF.
  • Outranking.io coupon code: WITTYSPARKS50 for 50% off.

For more such offers visit our exclusive offers for SEO, Bloggers, Marketers and for Business owners.

The Best Digital Marketing Tool

Semrush logo
Semrush

Grow your business on your terms and get to the top with 55+ marketing tools in 1. Get a flat 40% discount on Semrush Guru plan. No coupon code required. Or

Try Semrush for FREE

Footer

Affiliate Disclosure

If you make a purchase from WittySparks links, we will receive a small commission. See our Affiliate Disclosure.

Sponsors

Partnered with FreePik to use the licensed images.

turn to dhgate for smartphone

Follow Us

  • Facebook
  • Twitter
  • Pinterest
  • LinkedIn
  • Instagram
  • YouTube
  • RSS
  • Mastodon

Copyright © 2023 WittySparks - All rights reserved.
Hosted on Rocket.net

  • About Us
  • Contact Us
  • Privacy Policy
  • LinkedIn
  • Twitter
  • Like
  • Pinterest