One of the major challenges most bettors around the world are confronted with in regards to making bets online is the fear that their money may disappear or that they may be overcharged when its time to make withdrawals. This is a very legitimate fear because a lot of scams have happened in the online betting industry over the years.
However, with the advent of Bitcoin, the risk has been seriously mitigated as you have full control over all your transactions. Also, your money will be available in a few seconds with Bitcoin and other similar cryptocurrencies, when you make payment and withdrawal, and it involves little or no commission.
To give you a clear idea of the advantages of using Bitcoin betting in online sports betting, we have listed the main benefits below:
Bitcoin’s biggest advantage is that you don’t need a bank before you engage in any transaction. At no time will anyone know what they are doing with your Bitcoins, so you won’t have to explain how you spend your money on anyone.
with all transfers, no one can interrupt, control or have access to your money, no one can steal your Bitcoin whenever you are making payments or withdrawals at online sports betting platforms.
How the payment and withdrawal works
As mentioned, Bitcoin is undoubtedly a financial technology that revolutionizes the online payment system and in the long run, the world economy. That’s why it’s important to take advantage of blockchain technology.
A sports bookmaker that accepts Bitcoin gives you the ability to create a bitcoin account and the whole process is usually easy and free. You will only need to fill some of your details. Once you have a Bitcoin wallet you will have a wallet address where you can deposit your bitcoin into. In an event where you only have fiat, You will need to convert the money to Bitcoin by purchasing from retail sellers or going ahead to create an account in any crypto exchange that accepts deposit in fiat like Kraken and Coinbase. After this, you can transfer your bitcoin into your bookmaker account.
How to deposit your money with Bitcoin
The steps may vary slightly between different online sports bookmakers, but in summary, what you will be required to do to is, firstly, you must select Bitcoin as your chosen deposit method then you have to copy the available bitcoin wallet address on your bookmaker’s account.
Bitcoin commissions on online betting
Unlike electronic wallets like Paypal or Skrill, not to mention the ridiculous commissions that banks charge, Bitcoin only charges an almost zero percentage of commission for each transaction. We’re talking a few cents on a transfer of thousands of dollars.
This commission does not go to one person, but to cover the costs that are required for the transfer to take place. That’s why the commission is so low.
Tips for using Bitcoin and making your Betting experience safe
The ultimate goal for integrating bitcoin on bookmaker platforms is precisely to make online payment and transaction experience completely secure and comfortable while the user has complete control over your money. With your Bitcoin wallet created you can always save as much Bitcoin as you want and can sell it in exchange for fiat.
In as much as Bitcoin is revolutionary and the security it affords bettors in quite exciting, the risk of having scam bookmakers cannot be totally eradicated and so, it calls for caution on the part of every bettor to carefully select their bookmaker to avoid falling victim to fraudsters. A good way that this can be done is to find out the bookmaker’s rating on reliable rating websites
Stakehunter.com is a typical website that provides rating Bitcoin bookmakers by using a five-star rating system. This information, in turn, can be used by aspiring bettors to select their ideal a risk-free bookmaker.
Several bookmakers are rated there but in this article, only bookmakers got a five-star rating are considered, in addition to their defining features:
LVBet
- Zero charges on withdrawal: This is a very interesting and enticing feature, no deposit or withdrawal charge at all.
- Interactive and user-friendly interface
- Top-notch security features that guarantee the safety of funds
- Ever-available and high-quality customer support
- Great live betting section
888ports
- Regular and exciting promos for new and existing members
- Great experience when using a mobile device
- Active and informative sports blog: This is an impressive feature that makes users glued to the platform. You can be busy betting or busy interacting with other users about the latest sporting activities and events. There is never a dull moment.
- The excellent live streaming experience
Intertops
- Supports many US sporting games.
- Track record of consistency as they have been in existence since 1999.
- Excellent customer service: Everyone wants a platform where they can reach out to the support team whenever they are faced with any challenge.
- Speed of processing payment.
- Variety of casino and poker games.
18bet
- Excellent user interface: The Graphical user interface of 18bet is one of the best out there. It is very interactive and easy to navigate through.
- Wide range of sport to select from: Variety is the spice of life, 18bet is accommodating to fans of several sports games. You will surely find a sense of belonging
- Supports several currencies
- Excellent experience when streaming live
The above is a good summary of what to expect with the five-star bookmakers. I hope you find the information useful and always remember to bet responsibly.
You should visit https://stakehunters.com/ to get more details.
