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How can you buy Bitcoins for Sports Batting?

Wolfgang Chavers (2019-06-12)

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With the total amount of available bitcoins set at 21 million units, inflation risk is minimized compared to traditional cash currencies. Bitcoins are artificially created by the so-called "mining". However, this process is so complex that it is now being carried out primarily by professional networks.

Bitcoins can currently be used for payment by a large number of service providers. These include not only traditional providers such as hotels or tour operators but also food suppliers and bars. Since about 2012 betting with bitcoin can be made for sports betting as well as in online casinos with Bitcoins.

How can you buy bitcoins for sports betting?

The best way to acquire cryptocurrencies is through special online marketplaces. By registering, you create a customer account that first has to be verified. This is usually done by means of video or post-identification procedure with the identity card. Then you connect your account to a common payment method, for example, the bank account. After that, you can both buy and sell bitcoins.

How is the Bitcoin deposit at the bookmaker?

As a rule, the deposit of bitcoins takes place with so-called e-wallets, which are basically nothing more than a virtual wallet. Bitcoin wallets work on the same principle as PayPal. In Trusted Bitcoin casino sites, your credit is protected by high-security standards against unauthorized access.

To transfer funds to the sportsbook account, simply enter the payment address of the respective betting provider in the field for the payee of your Bitcoin wallet. Select the desired amount and click "send". The credit will usually be displayed on the betting account within a few minutes and then you can enjoy Bitcoin betting.

What are the advantages of sports betting with Bitcoin?

Compared to traditional payment methods, Bitcoin sportsbook and other cryptocurrencies offer many advantages:

o Payment speed: deposits and withdrawals are done in a few steps. Often the credit is available after seconds. Maximum passes a few minutes.

o Security: With direct transfers via Bitcoin and Co. the bookmaker receives no sensitive customer data. There is therefore also no danger that third parties have access to.

o Anonymity: In the case of Trusted Bitcoin casino sites, registration takes place exclusively with the provision of an e-mail address and the date of birth. Also, no documents need to be uploaded for verification (identity card copy, proof of address).

o Fee-free: Suppliers who can place Bitcoin casino on sports betting with Bitcoin generally do not charge for payment transactions.

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