How to Deposit with Bitcoins? It is no surprise that Bitcoin emerged in 2008 right after Occupy Wall Street accused big banks of misusing borrowers’ money, tricking customers, manipulating the system, and charging overwhelming fees.
Today, there are so many things you can buy using Bitcoins and there are so many sectors including the gambling field, where they have started accepting Bitcoins.
How to Deposit with Bitcoins?
Here we are going to discuss the best bitcoin sportsbook sites and learn how to deposit with bitcoin:
Why sports bettors should consider using bitcoins?
Bitcoin is a decentralized digital currency, which means that it is a currency without governmental supervision or third parties that you can buy or sell.
In which you can invest and which you can use. It is a peer network currency (like the popular P2P file sharing system among users).
Bitcoin is what is known as a cryptocurrency. There are several cryptocurrencies that generally work in the same way and report advantages similar to bitcoins. Some other examples of them are Ethereum and Litecoin.
Here are some of the most important reasons why you might want to use bitcoins.
How to Deposit with Bitcoins?
When using bitcoins, you do not have to create an account or give anyone your data for collections or payments. Instead, you use addresses composed of a long string of numbers and letters.
Each time a payment is processed, this address is registered in the blockchain, a kind of public record accessible to everyone.
This implies that if you sign up for a sports betting house that works exclusively in bitcoins (which only accepts payments in this cryptocurrency), you can bet anonymously. No one will know that you bet on the Internet, nor will you have to provide your personal information to the betting house.
2. Quick payments:
Another advantage of using bitcoins is that payments are processed much more quickly than with traditional methods. The reason is quite simple: as we have said, bitcoins are a network currency between peers, which means that you do not have to rely on third parties.
This reduces the deadlines to receive the payment to practically zero. Instead of waiting five to seven days for payment on a credit or debit card or check, or a couple of days for transfers by electronic purse, you may only wait a quarter of an hour (one hour, at most).
3. With low commissions, or zero, for withdrawal of funds:
Since third parties do not intervene in the process, that is, there are no intermediaries to manage the payments, there is no reason for the bookmakers to charge you commissions and, in fact, most do not.
You may have to pay a small amount for the process of your payment in the blockchain, but it will be an insignificant amount compared to 5% to 12% or the 35 to 75 dollars that many sites charge to pay you.
Do not forget that this way you should be able to avoid the payment of the commissions that your bank could charge you, like 35 dollars or more for receiving a transfer.
4. Deposit and bet larger amounts:
One of the risks that betting sites assume is that players have the option to reverse charges on their operations with debit or credit cards. Someone could play, lose their money and then reverse the charge.
This costs money to sports betting houses and also to honest people like us because bookmakers charge higher commissions or impose lower limits to offset those costs and manage their risks.
Bitcoins avoid this problem, since once you send your bitcoins to a user. You cannot undo the operation. The only way to recover them is for the user to whom you sent the cryptocurrency to return them.
As the risk is lower (if not nil) for the betting house, players are often allowed to deposit and bet more money.
5. Americans can bet without problems:
For Americans, betting on the Internet can be a big headache. The law known as UIGEA prohibits banks from processing payments to or from overseas gambling sites because bookmakers outside the United States do not operate under legal protection.
This can become a real toothache for Americans. They may find that they cannot make a deposit because their bank does not approve it, or that the betting house is not able to find an intermediary that allows them to make the payments. Even payments or checks received may be rejected. The problems are endless.
How to Deposit with Bitcoins in an online gambling site?
There are many popular and reliable platforms for an online Bitcoin casino. Here we have listed some of them.
Deposit bitcoin on these platforms is very easy. You just need to sign up on any of these casino sites. Then find the option to make a deposit and choose Bitcoin as your payment method, and then transfer your biotin. And now you are ready to start playing and making money.
Thus, betting Bitcoin is fun. Bitcoins do not have government supervision, which means that there is no one to tell you how you can or cannot spend your money. You also do not have to worry about payment processors or intermediary banks. In addition, payments are processed quickly.
For all these reasons, Americans, and anyone else interested in betting on electronic sports should consider using bitcoins to bet on the Internet. If you are interested in trying, start playing on any of the bitcoin casino platforms we have mentioned above. Read more about bitcoin here.