If there’s one thing that can be learned from studying online betting sites it’s that when it comes to new trends, they tend to be on the cutting edge. They were on the internet when most people still viewed the world wide web as a fad. Online betting sites have embraced the mobile age with state of the art apps and mobile-friendly sites. Some of them even operate solely as a mobile entity.
Another new area where these betting sites are diving in with both feet is in the area of cryptocurrency. Many of the leading online sportsbooks such as BetOnline accept Bitcoin and several other forms of cryptocurrency operating in the blockchain as a method of deposit to a player’s account.
Bitcoin is the most well-known form of cryptocurrency, but it’s not the only one accepted at BetOnline. The site, considered one the best in the business when it comes to making crypto transactions, accepts payments from, Bitcoin, Bitcoin Cash, Ethereum, Dash or Litecoin.
There are a number of reasons why following this path to fund your online betting account is a wise choice to make.
Ease Of Use
Depositing with Bitcoin is a piece of cake. These transactions offer both ease of use and convenience. The process can be completed via your mobile device, desktop or laptop computer, or with hand cash at a Bitcoin ATM.
Newcomers to Bitcoin will first need to create a Bitcoin Wallet. A couple of the more popular wallets that are available for use include Coinbase and Copay. Several other reputable wallets can be found at Bitcoin.org.
Once a player has created their Bitcoin wallet, the next step they will need to take is to purchase Bitcoins. Fortunately, there are plenty of ways to buy Bitcoins. Coinbase, Kraken or Bitstamp are considered to be among the best and easiest sites at which to do so. The purchased Bitcoins are then transferred to the player’s Bitcoin wallet.
It’s A Fast Process
The time in which a cryptocurrency transfer to a betting site takes to process can be over in the blink of an eye. Generally, it’s done in seconds. On occasion, it might take a couple of minutes.
The first step for the player would be to log in to the betting site of their choice, click on deposit and then select the form of cryptocurrency that is desired for use. Then enter the exact amount of the deposit in U.S. dollars. That total will be transferred from the player’s crypto wallet to the betting site’s crypto wallet.
Many betting sites offer more lucrative bonuses to players who use cryptocurrency to make their initial deposit to their account and will also offer reload bonuses to encourage players to continue to deposit via this process.
In this world where hackers always seem to be lurking in cyberspace looking to clone credit card numbers and steal identities, the beauty of cryptocurrency is its anonymity.
Every transaction is done anonymously. No personal information is requested or required during the transaction. On top of that, the betting sites will send an alpha-numeric address to the player in order to complete any transaction. This number has an expiration date, and is only used for one transaction.
Thanks to the anonymity, crypto users need not worry about the government getting all up in their business. Since players aren’t using a fiat currency – an accepted form of monetary funds created and distributed by a country’s government – there’s no worries about big brother checking into what is going on.
This also means that it won’t be necessary for players to involve a bank in their dealings with their chosen betting site. Some banks are wary, or even unwilling to process transactions that involve any form of gambling.
Another bonus is that the staple of those banks, the transaction fee, will also be avoided. It’s rare for a fee to be attached to any movement of cryptocurrency.
The Blockchain Is Trustworthy
Cryptocurrency isn’t new. Bitcoin launched in 2009. It’s becoming more mainstream by the day and the list of merchants who accept it expands almost as rapidly.
In fact, at online betting sites, crypto is becoming the preferred method for deposits and withdrawals.