In recent years, the popularity of cryptocurrencies has gained such momentum that now tokens are used not only for online purchases of any goods but are also often used as a means of paying for various services. For example, for gamblers, many bookmakers have added the ability to make crypto betting to their services.
How are bets using blockchain different from the more familiar ones via card or cash?
Surely, many players, when replenishing a personal account in a bookmaker’s office using a bank card, had a question about how reliable this method is and whether the money will be lost somewhere in the banking system or bookmaker. When using cash for bets, you receive a cashier’s check, this is the guarantor of the operation. But through a card account, you have to completely trust the banking institution and the gambling provider.
It is a completely different matter when you play for crypto. To date, there is no more reliable system than crypto betting using blockchain technology. The advantages of this method of depositing and withdrawing funds include the following:
- Closure of the system. The Crypto world is not subject to any jurisdictions. This is a closed community, whose members are only the owners of tokens, and whose transactions cannot be tracked.
- Fast payouts. Funds are withdrawn from the system almost instantly, as well as deposited money.
- Ideal reliability. Betting on bitcoin and other currencies is based on technology that cannot be stolen, counterfeited, or hacked!
Perhaps this is the ideal method of cash turnover with a bookmaker. In addition, you can save on fees when withdrawing currency.
What do you need to bet with cryptocurrencies?
If you are just looking at this method of settling with companies that provide services for gamblers, or you don’t have coins yet, then you can use the following options to get them:
- Credit or debit card – just buy cryptocurrency in the exchange for real money.
- Mining – get coins using mining technology, but be prepared for the fact that this is a very long process.
- Peer-to-peer exchangers – special computer networks in which there is an equal exchange between participants!
When placing betting on bitcoin or ether, each user can be completely sure of his anonymity. The process is designed in such a way that information about transactions and wallet owners is not stored in the database of the betting company.