There is a continuous rise in the popularity of cryptocurrencies, especially Bitcoin. Whether you are buying anything from cryptocurrency or not but it will remain forever and will not go anywhere. However, some crypto fails to survive on the market; there are currencies like Bitcoin which survive in the market for the long run.
With sports betting legalized in many countries like the United States of America, cryptocurrencies are also raising their popularity among their citizens. You can easily bet using cryptocurrencies like Bitcoin in esports betting sites.
Some of the best esports bitcoin betting sites that uses Bitcoin as their payment method is:
- Spin sports
- 10 Cric
Why should we adopt cryptocurrencies like Bitcoin for betting in esports betting sites?
One of the noteworthy advantages of using cryptocurrencies like Bitcoin in betting is that they are not regulated by any central government bank. Other payment methods like net banking, credit card, debit cards, Skrill, or Paytm are thoroughly regularized by respective country’s governments.
The main advantage of using cryptocurrency is that they have near-zero efficiencies during the transaction. But some betting sites may cost you certain charges while withdrawing from their account. It is sometimes 10 to 20% of the withdrawing amount. Non-involvement of government during ‘peer-to-peer’ transfer in Bitcoin makes it attractive for bettors in the betting market.
When you want to transfer Bitcoin from one friend to another or a betting site to the user the processing time is much faster than the traditional methods. It can take a few minutes to an hour to receive the winning amount. On the other hand, withdrawing money from the betting site using the traditional method may take a few days to a couple of weeks to credit in your betting account.
Sending and receiving Bitcoin is one of the safe and secure forms of payment methods that exist in esports betting sites. All the transactions are thoroughly regularised and guaranteed to be sent and received. There is no case of risk or fraud during the transactions. Bitcoin transactions are peer to peer which means that you deal directly with the esports betting platform. This advantage will reduce the delays and fees charged by other payment methods.
Bitcoin esports gamblers support the advantage of playing anonymously. Many sports betting sites often ask KYC while depositing or withdrawing money from their betting account. Nevertheless, in the case of Bitcoin, you need not have given your details while betting on their site. Betting on esports anonymously may be permitted in your country but players often have to gamble their money while playing anonymously on a betting site using Bitcoin.
Regulation and legality behind Bitcoin is building sites
Regulation regarding Bitcoin betting is relatively unknown for the time being. As Bitcoin has become popular among the players, it is likely to require a regulatory authority that can regulate Esports betting sites. As for now, esports Bitcoin betting is the same as traditional betting. If traditional payment betting is illegal in your country then the same will be applied for Bitcoin gambling.