What is Bitcoin Betting?

What is Bitcoin Betting?

What is Bitcoin Betting? Bitcoin is a currency and, at the same time, a payment method with which we can pay and/or receive money online anonymously, with low commissions and quickly. As expected, this revolutionary payment method, like many other cryptocurrencies, has reached the world of sport betting bitcoin, where they are developing very quickly.

Within the houses that use Bitcoin as a payment method, we distinguish two very different types:

1. Anonymous bookmakers:

In these houses, we are not requiring to incorporate any private data. In them, we register only with an email and a password, and deposit, bet and withdraw only with cryptocurrencies, there are no other payment methods available. This is because cryptocurrencies are the only virtual currencies that allow us to trade without revealing our identity. 

2. “Standard” bookmakers:

These are the houses of a lifetime, the ones we already know. In them, we can register by providing our private data and verifying our identity. 

These houses have various means of payment, ranging from bank transfers to virtual purses such as Skrill, Neteller or PayPal. However, to these more traditional options and, seeing the rise of cryptocurrencies, they have decided to add Bitcoin. 

What is Bitcoin Betting?
Bitcoin Betting

Why bet with Bitcoin on houses that accept other payment methods?

1. Privacy:

There are players who, for various reasons, want to avoid other deposit and withdrawal methods. They are not interested in large amounts of money reaching their bank account. They prefer the privacy offered by Bitcoin operations.

2. Fewer commissions:

Transactions with Bitcoin always involve fewer commissions than those made with other payment methods.

3. Speed ​​of payments:

There are houses that only operate with two payment and deposit methods: bank transfers and Bitcoin. If this is the case, the latter is much faster.

4. Less amount of personal information on the Internet:

If we operate with Bitcoin, we will not have to disclose our financial data to the bookmaker. That can avoid future dislikes if these data are disseminating at some point.

5. Best bonuses:

Many of these houses offer more generous welcome bonuses than usual if your deposit method is Bitcoin.