In the era of rapid digital technology advancement, the online betting industry is keeping up with the times. More and more bookmakers offer their clients the opportunity to place bets using cryptocurrencies. This opens up new prospects for bettors, ensuring anonymity, transaction security, and speed.
Which Cryptocurrencies Are Supported By Online Bookmakers?
It’s difficult to compile an exhaustive list of cryptocurrencies accepted by bookmaker websites, as their assortment may vary among different operators. However, players usually can make deposits and play with the most common digital currencies.
The undisputed leader is Bitcoin – the first and most well-known cryptocurrency, with high liquidity. It’s easy to exchange it for fiat money through numerous online exchanges. Additionally, there are plenty of reliable Bitcoin wallets for secure coin storage.
In addition to Bitcoin, bookmakers offer the option to use other popular virtual currencies, such as:
- Ethereum (ETH) – the second-largest cryptocurrency by market capitalization.
- Litecoin (LTC) – “digital silver,” a faster counterpart to Bitcoin.
- Bitcoin Cash (BCH) – a fork of the original Bitcoin.
- NEM (XEM) – a promising next-generation coin with fraud protection.
- Monero (XMR) – a private cryptocurrency with a high level of anonymity.
- Binance Coin (BNB) – the token of the largest cryptocurrency exchange, Binance.
- Libra (LIBRA) – Facebook’s metaverse project.
Thus, betting enthusiasts have a wide choice of cryptocurrencies for making online bets on various platforms.
Advantages of Cryptocurrency Bookmakers
Choosing a bookmaker with cryptocurrency transaction support offers players several significant advantages. It’s no wonder that many sites for professional bettors readily accept bitcoins and other digital currencies. The bookmaker Melbet offers good conditions. Simply go through Melbet registration, and various deposit options will be available to you, including cryptocurrencies.
- Quick and easy registration. Most traditional bookmakers have a lengthy and complex process of verifying new clients in accordance with Know Your Customer procedures. Players are required to provide document scans to confirm their identity and address. When using a crypto-bookmaker, all that’s needed is to link your virtual wallet to your gaming account with one click, with no personal information required.
- Absolute anonymity and confidentiality. Since all transactions are conducted solely through anonymous cryptocurrency wallets, bookmakers are not aware of any personal data of clients. This ensures complete privacy and protection from third-party interference.
- Secure deposits and withdrawals. Users won’t have to disclose bank card or account details that could be compromised. Having a connected electronic wallet is sufficient for making instant and secure crypto payments anywhere in the world. The issue of long withdrawal times for winnings is eliminated.
- Generous bonuses and promo codes. Operators working with cryptocurrencies offer the most attractive bonus programs for both newcomers and existing clients. The size of welcome bonuses, free bets, and other promotional offers here is the highest – up to 200% on the first bitcoin deposit.
- No commissions and taxes. When using cryptocurrency, you don’t pay additional fees and taxes as with fiat money transactions. Transactions are completely transparent and not subject to commissions.
Features Of Crypto Betting
Essentially, the process of placing bets in cryptocurrency differs little from betting using traditional fiat money. The standard functionality of bookmaker websites, lines, types, and forms of bets – everything remains unchanged.
However, an important nuance to consider is the volatility of the virtual coin exchange rate. The value of cryptocurrencies is subject to constant fluctuations relative to traditional money. For example, at the time of writing this text, the price of the most popular bitcoin is around $70,000, whereas a year ago it was half as much. Throughout the day, the rate can both rise and fall by several percent.
Therefore, before placing a bet in BTC, ETH, or another crypto, it’s essential to recalculate the amount at the current rate to correctly assess the potential winnings or losses in fiat money. Special currency converters can be used for this purpose.
Another important point is that confirming cryptocurrency transactions may take some time, unlike instant transfers of regular money. Therefore, when depositing and withdrawing funds, you may have to wait from 10 minutes to several hours depending on the network load.
Otherwise, placing bets in a bookmaker accepting crypto is just as simple and convenient as working with bets in regular money. The only significant difference is the additional anonymity and protection of users’ personal data.
