author: betmoderator   24 July 2020Print page

Bitcoin betting - safety and anonymity

You have probably noticed more and more online betting operators that offer bitcoin appearing on the market every day. Well, there’s nothing to be surprised about. Bitcoin is the world’s most popular cryptocurrency, and it was only a matter of time when the online sports betting industry to join the cryptocurrency trend.

Bitcoin betting - safety and anonymity
The paradox of betting and how bitcoin is changing stereotypesBitcoin - the gambling messiah!Staying under the radarBitcoin paymentsSummary
 
The paradox of betting and how bitcoin is changing stereotypes
Being a punter is not as easy as it might look like on the first sight. Some people are just not suitable for this type of activity. Many do not have the proper knowledge, cold head or, simply, luck. Others lack the analytical skills to assess the risk of a particular bet accurately. Even if you have all of these features, it is not guaranteed you will achieve success and make regular profits.

What is more, as soon as you start landing those bets one after another, you will sooner or later (usually sooner) end up on the bookmaker’s radar. As a result, the book will impose certain limits on your account that will make further playing pointless. The situation looks completely different in the case of bitcoin bookmakers, among which such limits are quite rare.
 
Bitcoin - the gambling messiah!
The harsh bookmakers’ policy towards limits and quite restrictive gambling laws & regulations of various countries used to make it quite impossible for professional punters to engage in LEGAL online sports betting via top online bookmakers. The keyword here is «legal», as it is not something new that punters have been manoeuvring and finding the walkarounds to fight the system. Let’s not discuss it any further, those who know, know and those who don’t will do just fine.

Betting Tutorial - Bitcoin betting. Why and where?

Well, these times are finally over with, thanks to the bitcoin-friendly or bitcoin-only betting operators that are being recognized by the industry & gaining a better position on the market each and every day. Being honest, we started looking at bitcoin seriously enough, only a while ago. However, bitcoin itself has been around for quite some years now and is gradually making its presence felt in online betting & gambling in general. Experts say that this is rather a good change. Why? Read on.
 
Staying under the radar
Opting for bitcoin practically puts you in the stealth mode. Nobody cares how much you won or lost. Well, it is not about that no one cares but rather about that nobody knows. You cannot basically be tracked down, and it is safe to say that this is some sort of a «perfect crime». Besides high anonymity, what about the safety of your funds? Are those bitcoin bookies trustworthy enough?

Breath out, bitcoin bookies are just like those traditional ones. There are those with a better reputation that can be trusted more, and those who appear to be a bit suspicious and trusted less by the community. It is important to make at least a little research on the particular betting firm in order to be aware of what to expect from it. What is more, you do not have to deposit a huge amount right away. We would like to suggest depositing only a small part of your budget just to test out the service. We also suggest checking out such cryptocurrency bookmakers like Sportsbet.io, Cloudbet and Nitrogen Sports. These bitcoin betting operators are more than reliable and offer a high quality service on a daily basis. Nevertheless, you always have to stay woke, as you never know what can happen to this relatively new market. It’s better to be safe than sorry, keep only the needed amount on your account and withdraw the rest to store it somewhere else, either on some online bitcoin wallet or convert it to the real (fiat) currency.

Majority of bitcoin bookies have only one fee for deposits and withdrawals. It doesn’t matter how much you put in or put out, but it doesn’t really pay off to transfer small amounts back and forth. Keep that in mind!
 
Bitcoin payments
Bitcoin bookmakers have a bit of a different approach when it comes to transactions. The timeframe of the process mainly depends on the amount we are trying to transfer. The higher the fee is, the quicker the transaction will be processed. Sometimes it happens that the book doesn’t impose any fee but takes up to a couple of days. If you ever come around the bitcoin bookmaker who says its transactions are almost instant, prepare for high deposit/withdrawal fees. Remember one more thing, when withdrawing BTC from your account, you are not withdrawing any other altcoin or currency but bitcoin, so make sure the platform you are trying to move your money to supports such payments.
 
Summary
We cannot specify any significant drawbacks or dangers of this betting model after thoroughly testing it out. However, one thing we know for certain, there will be those of you for who the whole process will look quite complicated. Take our word for it - it is NOT!!! Creating the online wallet and purchasing bitcoin will take you just a few minutes.

The whole registration process with a crypto-friendly bookmaker cannot be more straightforward. You do not have to provide all the mailing addresses, tons of personal information and send the scan copy of your documents. Leave all that for the traditional bookies. Altogether, the whole process of getting into cryptocurrency betting will only take several minutes.Another great perk of bitcoin betting and BTC itself is its constantly growing value. Depositing today and winning some bets will bring you considerably more money than in the case of betting the traditional way. We can say that professional bettors are profiting more from betting with bitcoin than any other way.

Find out more about what bitcoin bookmakers are worth attention, how and where to purchase the most popular cryptocurrencies and other useful information about bitcoin betting in our next sports betting guide. Stay tuned.

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