The digital currency Bitcoin has some features that make it interesting for sports betting as well. Deposits and withdrawals can be processed within a few moments and are completely anonymous. For this reason, no personal data is required for registration with a Bitcoin bookmaker. Although it is currently not clear whether the currency will actually prevail in the long term, there are already some bookmakers who accept Bitcoins as a means of payment. But what makes Bitcoin so special for sports betting and who are the best bookmakers?
Bitcoins is a pure online currency, which cannot be compared to other currencies. Since the currency is already used by many people on the Internet, the sports betting industry has also become aware of it. Although the digital currency is not yet a standard feature among online bookmakers, it is still worth taking a closer look at what is on offer. Sports weather should be aware that Bitcoins can only be used on the Internet and are not a valid means of payment in the real world. Transactions with Bitcoins are executed quickly and cannot be revoked afterwards. Payment is confirmed within a very short time. The idea of a virtual currency has been around for a long time, but Bitcoins have only been on the market for a few years. Currently there are about 1.3 billion Bitcoins in circulation.
Use Bitcoin for sports betting
Bitcoins transaction costs are very low, so some bookmakers offer a 20 percent bonus when the betting account is loaded with the digital currency. This applies not only to the initial deposit, but to all account top-ups. Another advantage is that the currency can be used by all customers worldwide. In order to bet with Bitcoins, real money must first be exchanged at one of the numerous Bitcoin exchanges. Bitcoin bookmakers do not differ from classic sports betting providers in terms of their offering.
Bitcoin enable anonymous sports betting
Bitcoin bookmakers offer their customers some advantages. These include in particular that sports weather remains completely anonymous. Betting providers who accept Bitcoin as their currency only require their customers to provide an e-mail address. But even this is not mandatory for many bookies. In addition, it is quite easy to create an e-mail address just for this purpose. Anonymous account openings are always possible if payments are made exclusively with Bitcoins. The deposited amount is immediately available so that the first bets can be placed directly. Since the accounts are kept anonymous, they cannot be blocked by the bookmaker. After the bet has been settled, the prize goes immediately to the player. Even with a rather large payout, there is neither a limit overrun nor an account block.
What are the advantages of deposits and withdrawals with Bitcoin?
- Due to the functionality of Bitcoins, payments are processed quickly and securely by the bookmaker.
- The required infrastructure is completely provided by the Bitcoin system so that no additional transaction costs arise.
- The flexible payment system also makes it possible to transfer money from one bookmaker to another.
- The credit can also be easily sent to friends. It is even possible to transfer money to third-party customer accounts with another betting provider.
Are there any disadvantages with Bitcoin bookmakers?
Bitcoin betting – paymentsWas the digital currency can score with some advantages, but also the disadvantages should not be ignored. Since Bitcoins has only been around for a short time, there is no long-term experience available. However, at the beginning this was also the case with online bookmakers. Here, too, customers first had to make their own experiences. Bitcoin bookmakers are new on the market and usually do not have a European license. This increases the risk that the betting provider goes bankrupt due to insufficient income. As advantageous as anonymity is, it also ensures that there are no minimum standards or legal regulations. However, due to the fast handling of payments, no large amounts have to be paid into the betting account. If necessary, the credit can be topped up within a few moments. Although the acceptance of Bitcoins is increasing, the currency cannot yet be used everywhere. Therefore, Bitcoin bookmakers cannot yet be compared with classic betting providers.
What can you expect from Bitcoin bets in the future?
Statistics show that around 50 percent of Bitcoin payments are made in sports betting and online casinos. This makes it clear that the number of bookmakers using Bitcoins has risen in recent years. Particularly in the USA, the number of Bitcoin gaming providers is increasing strongly. This is primarily due to the fact that gambling in the USA is only permitted in the states of Nevada, Delaware and New Jersey. Due to the anonymity of Bitcoin bets, they are therefore a very popular alternative. Transactions in Bitcoin cannot be controlled by the responsible authorities. a Bitcoins, however, not transferred, but paid to websites, this process is not traceable. Since payment is made immediately and cannot be reversed, bookmakers also benefit from this. The digital currency has revolutionised the gambling market in the USA. An end to this trend is not in sight. In this country, the virtual currency is still much less known and the market is therefore very manageable. Nevertheless, German sports bettors are now also finding some providers to whom Bitcoin can be deposited.
The best Bitcoin bookmakers
The betting provider Cloudbet has been on the market since 2013 and was one of the first real Bitcoin bookmakers in Germany. For a more exotic bookmaker, the betting offer is surprisingly extensive. Football fans can bet on all major leagues worldwide. In Germany some even up to the upper league. Basketball, tennis and ice hockey also offer a good selection. The number of betting markets on offer is good, although not as high as with the best bookmakers. New customers receive a bonus of up to 5 BTC. The odds are also impressive at Cloudbet and lie beyond the 93 percent mark. For friends of the digital currency, Cloudbet is currently number 1 in sports betting. Casino friends also get their money’s worth at Cloudbet. In addition to a large selection of table games and slot machines, there is also a well-designed live casino.
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Bitcoin After we had already dealt with Bitcoin and sports betting once last year, we have now devoted ourselves to this topic again. After all, the Bitcoin crypto currency has undergone an enormous development in recent months, so a new look at the subject is certainly worthwhile. The crypto currency Bitcoin has already been used for some time for payment and as a financial investment. At present Bitcoin experiences a true course rallye. Almost daily the speech is of course rises. Ever more investors invest in Bitcoin, which drives the course strongly into the height. Who would like to invest in Bitcoin, must be ready for a high risk and bring along experience in speculative plant forms, since it concerns a highly speculative plant. Meanwhile, some sports betting providers make it possible to pay with Bitcoin.
The trend of Bitcoin sports betting is rising. Initially, there were hardly any German-speaking providers who allowed this payment, but the number has risen. This contribution explains the advantages and disadvantages of Bitcoin and explains, what you should consider with Bitcoin Sportwetten.
The crypto currency Bitcoin
Bitcoin is not the only one, but it is the most popular crypto currency. Its popularity is due to the strong rise in prices in recent weeks. Especially in times of low interest rates, many investors are looking for alternative forms of investment and are increasingly relying on speculative investments. Bitcoin is a highly speculative investment. Just as fast, as the course rose, it can fall again. The risk of price falls and total losses is very high with Bitcoin. Bitcoin is an artificially created currency and at the same time a payment system. This payment system was first described in 2008. In January 2009, the first 50 Bitcoins were created and the Bitcoin network was launched.
Bitcoins as means of payment are created and managed decentrally in a computer network. There are currently 21 million Bitcoins in circulation. This number cannot be influenced or changed as the maximum amount of money is fixed on it. Bitcoin is therefore inflation-proof.
Bitcoin works independently of a bank. As a payment system, Bitcoin is most comparable to the electronic purses Neteller and Skrill. As with electronic wallets, to use Bitcoin for payment you must open a Bitcoin wallet. This is possible on various Internet portals. You have to load your Bitcoin wallet with Bitcoins and invest in Bitcoins to do so. You can buy and sell Bitcoins on various Internet marketplaces. Trading Bitcoins is also possible among Bitcoin users. The basis for