Crypto Betting - Is it possible?Jan 12
Betting with cryptocurrency - is it possible?
Cryptocurrencies are also a new phenomenon. Both are rarely mentioned in the same context, although they fit together ideally, like a fist on an eye. The following article briefly and concisely explains what cryptocurrencies are and how you can place sports bets with them.
What is a cryptocurrency?
In order to better explain how sports bets can be made with a cryptocurrency and what advantages this brings, it is beneficial to know what a cryptocurrency is. The first manifestation came into the limelight in 2009. Bitcoin rocked the financial world and caused major worry lines among investors. In the meantime, there are several others, such as Ripple or Ethereum. A cryptocurrency is, as the name suggests, a currency. Crypto because it is encrypted. The advantage of cryptocurrencies is that they are completely digital and limited to a fixed number, which means you can't reprint money at will.
Why cryptocurrencies - what securities they offer
The basis for this is the global economic system. Since it has existed, the world has been hit by many crises. Many people suffered from austerity measures and inflation, and this despite the fact that money and capitalism were created by humans. There is a fitting sentence by Johann Nestroy about this, the Phoenicians invented money, but why so little? Cryptocurrencies should usher in a new age of means of payment. Due to the fact that the currency is limited, it has a real value. Due to its digital origin, it is comprehensively protected and it is also not possible for a pickpocket to steal the Bitcoins.
Cryptocurrencies in sports betting
Now the question remains, what do digital currencies have to do with sports betting? For this, another advantage of cryptocurrencies must be mentioned. Because they are fully digital, payment transactions are completed in real time. There are no waiting times, as is usual with banks and normal currencies. Consequently, there is also no exchange fee. If, for example, you buy shares of a bitcoin with the American dollar, you can have the money paid out again in another currency without any fee. What cryptocurrencies have to do with sports betting is that you can use them as a means of payment with some providers.
The right bookmaker
Sports crypo betting providers are currently a dime a dozen. There has been steady growth. That's why, when you start looking for sports betting, you come across countless bookmakers. Thanks to platforms like Best Crypto Betting Sites, however, the search is made much easier. All providers are clearly listed, including ratings and the most important facts, such as the licence or the bonus. In addition, a search function helps, where different criteria can be entered, which gives the list a new order. Then you can take a closer look at the first places.
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