Cryptocurrencies offer a revolutionary way to send and receive money with no intermediaries that have to process the transactions. They are very convenient for many online businesses, as you can use them to make quick, simple, and anonymous payments in a blink of an eye.
Sports betting sites and cryptos have turned out to be a match made in heaven. Therefore, we’ve decided to select some of the best crypto betting sites and help you start your cryptocurrency sports betting journey. Read on.
Top Crypto Sportsbooks
Our team of experts has decided to make a list of the best crypto sportsbook platforms, so feel free to examine it and select the website that meets your needs. If you’re not sure how to make cryptocurrency deposits and withdrawals, please continue reading this article, as we’ll explain the entire process.
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How to Make a Deposit with the Best Crypto Betting Sites
Before making a deposit, you’ll have to obtain a cryptocurrency. Here’s a short overview of how to do that.
- Choose the cryptocurrency you’d like to use to make deposits and withdrawals on crypto sportsbooks.
- Install a crypto wallet where you’ll store the cryptocurrency of your choice.
- Obtain the crypto by buying it on a crypto exchange or ask someone to send it to you (get paid in crypto).
Once you have a cryptocurrency in your wallet, you can start placing bets on crypto betting sites. Here’s how:
- Select a crypto betting site from our list.
- Find the Register or Sign Up button and fill out the form to open an account.
- Go to the Cashier section and pick a cryptocurrency you’d like to use.
- Input the amount of money you want to deposit.
- Scan the QR code with your wallet to make a deposit or copy the provided address manually into your wallet and send crypto to it.
Since most cryptocurrencies are instant, you should be able to start placing bets in minutes.
How to Withdraw from a Crypto Sportsbook
Once you want to withdraw your winnings, you should follow the process below:
- Go to the Cashier page on the crypto sportsbook.
- Select the cryptocurrency you want to use.
- Input the amount you’d like to cash out.
- Input your wallet address.
- Confirm the transaction.
Depending on the platform, you might need to wait some time before the withdrawal request has been checked. This is called withdrawal pending time and can last up to five business days.
Advantages and Disadvantages of Using Crypto Betting Sites
Cryptocurrencies have solved a lot of issues for the people who wanted to make safe, secure, and anonymous online transactions. However, they also have a couple of disadvantages. Therefore, let’s check out some of the significant pros and cons of using cryptocurrenciens in online sportsbooks.
Pros
- Cryptocurrencies are fast – Most cryptocurrency transactions are processed instantly. You’ll only have to wait a couple of minutes on rare occasions when the traffic is high (only for some cryptos).
- Cryptocurrencies are secure – By using blockchain technology and being based on a distributed ledger, cryptos are impossible to tamper with or steal, making them one of the safest payment methods out there.
- Cryptocurrencies are affordable – Since all transactions are peer-to-peer, you don’t have to pay additional fees to intermediaries because there are none.
Cons
- Cryptocurrencies are volatile – The prices of many cryptos change frequently. In fact, BTC value can fluctuate so much that you can lose or gain hundreds of dollars in less than a day. It’s an additional bet you must be willing to accept when using cryptos;.
- Not all sportsbooks accept cryptos – Being fairly new, cryptocurrencies are still not as widespread as other payment options, such as credit cards and e-wallets.
Final Thoughts
To sum up, despite not being perfect, cryptos are still a great deposit and withdrawal method. As a result, many platforms have become crypto sportsbooks because of that. They offer lucrative bonuses for people who decide to use digital currencies for betting.
Feel free to select the crypto betting site from our list and start your online betting adventure with cryptocurrencies.
FAQ
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Are there any bonuses on crypto sportsbooks?
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Do the best crypto betting sites offer all cryptocurrencies?
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What cryptocurrencies can I use to place bets?
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Are crypto sportsbooks legal?