Bitcoin Sports Betting: Bet on 35+ Live Sports with Crypto on 1xBit
Bitcoin sports betting is booming as the world’s leading cryptocurrency allows anyone across the globe to bet on their cherished sports teams.
Read on to learn how to bet on all your favorite sports with bitcoin on 1xBit.
Table of Contents:
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Why Do People Love to Bet with Cryptocurrency?
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Advantages of Betting with Crypto
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Crypto Sports Betting: How to Bet on Your Favorite Sports with Bitcoin
Why Do People Love to Bet with Cryptocurrency?
Cryptocurrencies, like bitcoin, enable individuals across the globe to seamlessly make payments over the Internet. Unsurprisingly, therefore, online gambling providers were among the first to adopt bitcoin, offering bettors across the globe the ability to bet on their favorite sports teams.
Bitcoin acts as a payment method for individuals located in countries where traditional payment services, like PayPal and Stripe, don’t operate. Thus, allowing those who’ve previously not been able to bet to do so now.
Cryptocurrency payments are fast and come with low fees. Whereas traditional digital payments providers often charge 3%+ per transaction, crypto transaction fees are typically in the cents.
Fast withdrawals are also a popular reason for bettors to switch to crypto and away from traditional financial services. While bank transfers can take days, bitcoin transactions take minutes to settle.
Bitcoin payments are also secure as they are processed and verified by a decentralized, peer-to-peer network as opposed to a single service provider that can suffer from downtime or operational errors causing delays.
Finally, betting with crypto allows for a certain degree of privacy and anonymity. Not everyone wants their betting activities on their bank or credit card statement. Bitcoin and other cryptocurrencies allow for that as transactions are not directly linked to a user’s name or other personal information.
Advantages of Betting with Crypto
Now that you know why so many bettors love betting on sports with bitcoin, let’s outline the advantages of betting with bitcoin.
Let’s dive in.
1. Ease of use
Using cryptocurrencies in betting is a simple, user-friendly process, making sports betting easier than ever while providing a superior payment method for deposits and withdrawals.
2. Reduced costs
When making payments and transfers to and from your cryptocurrency wallet while betting with bitcoin and other cryptocurrencies, you have the advantage of reduced costs. These reduced costs have been facilitated by the removal of extra expenses such as banking or credit card fees. Typically, bettors only have to pay the blockchain fee.
3. Increased security
Crypto transactions cannot be reversed, intercepted, or redirected, allowing you to rest assured that no one is going to make changes to any transactions you make.
4. Privacy and anonymity
Payments using cryptocurrencies don’t require you to submit personal information, protecting you from privacy issues, such as identity theft.
Moreover, it provides relative user anonymity. You can place a bet without anyone being able to tie the transaction to you. This increases your privacy and can give you peace of mind while betting.
5. Inclusion
Anyone can participate in betting when using cryptocurrencies from anywhere in the world. This advantage allows people from countries and regions that make it difficult to bet on sports to still place bets.
6. Flexibility in payment
Crypto sports betting lets you wager any amount you would like. Unlike traditional payment systems, the volume of money that can be transferred in one transaction is unlimited, allowing you to bet with large amounts of money without the fear of being flagged by your bank or payment provider.
7. Faster payouts
Online crypto sports betting is efficient and fast. The fast transaction speeds are due to the near-instant payments that cryptocurrencies provide. It also makes it easier for you to access and cash out on your winnings at whatever time you want.
Crypto Sports Betting: How to Bet Online on Your Favorite Sports with Bitcoin
Betting with bitcoin is easier than you may think since the process is essentially the same as betting with “regular” money. The key differences are the way you fund your account and the fact that your funds are held in bitcoin, so you bet in bitcoin amounts (in mBT on 1xBit) instead of dollars, euros, or any other traditional currency.
Here’s how to use bitcoin to bet on your favorite sports on 1xBit.
1. Head to the 1xBit homepage and click on ‘Registration.’
2. Fill in your details, taking note of your account number and password.
3. Click on ‘Deposit.’ Here, you will be given a range of cryptocurrencies to choose from, select ‘Bitcoin.’
4. Copy the address or QR code provided. This will be where you will send your bitcoin to.
5. Deposit your interested Bitcoin amount into your address from your wallet.
6. Bet on whatever sports event that you would like. In this case, we’ll choose the FIFA World Cup 2022 Qualifier between Brazil and Uruguay.
7. Pick the game(s) that you would like to wager on, taking into consideration the betting odds for each team. The amount that you would like to bet in mBT will be shown on the right-hand side of the screen.
8. Click on ‘Place a Bet’ once you are satisfied with your selections.
9. You can also click on the match to see specific bets you can place on the game. To bet on one of them, click on the bet and place your wager. Check that everything is correct, especially the amount you want to bet, and then click ‘Place a Bet’ to confirm.
Betting on 1xBit is an easy, seamless process that can take you a few minutes to complete. It has a range of things you can bet on, from all kinds of sports, esports, casino games, and more.
With 1xBit, you can easily start betting with bitcoin. Register at 1xBit today to start betting on your favorite sports team.