Bitcoin has revolutionized the way people place bets and proceed with betting practices. Basically, whenever the players place bets and make payments using US dollars or other fiat currencies, they mostly use bank accounts. The reason is that dollars are widely accepted from bank accounts, however, nowadays cryptocurrencies, especially Bitcoin, are also gaining popularity in eSports betting.
The emergence of eSports betting and the addition of Bitcoin technology
After the pandemic, esports betting has become much more popular among the betters. These professional video gaming competitions have given rise to the increasing usage of virtual currency which has become quite an innovative way of purchasing various online services including the placing of bets.
The most important virtual currency or cryptocurrency is Bitcoin which has grown immensely popular as an investment but has also become an essential part of eSports betting.
This is going to revolutionize the whole virtual world because these two emerging Industries: eSports betting and cryptocurrency are connecting with each other and making it possible for people to enjoy the combination of betting practices with transparent use of cryptocurrency.
Even if you enjoy traditional sports betting, you can still use Bitcoin due to its convenience and transparency.
Bitcoin eSports Betting Sites
If you are excited enough about Bitcoin and looking for the most authentic and reliable platforms for Bitcoin eSports betting, here are some of them that you might want to check out.
Sportsbet.io is a great platform that you can use to maximize your winnings by making transactions in the form of Bitcoin. The reliability of this platform is evident from the fact that it has gained an overall 4.8-star rating out of 5 on the internet and has become the number one choice of famous eSport players.
Another popular Bitcoin esports betting platform is cyber.net. This platform has an overall rating of 4.6 out of 5 on Trustpilot and it offers a hundred percent bonus of up to 250 dollars if you use the bonus code BETNOW21.
Bitcasino.io is also becoming popular among casino game lovers because this platform allows the players to participate in weekly contests and win a lot of chances of making money. The players can get their rewards in the form of Bitcoin currency.
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Depositing and withdrawing Bitcoin
Before you practically start with eSports betting, you should have comprehensive knowledge of how to deposit and withdraw Bitcoin.
The first and the most important step is to familiarize yourself with the Bitcoin exchanges where you can purchase Bitcoin. Some of the most commonly used exchanges are Coinbase and Gemini. However, when you do the comprehensive research you will come to know that there are hundreds of different Bitcoin exchanges available for purchasing Bitcoin.
Now if you want to purchase Bitcoin and have selected the particular Bitcoin exchange you must have a cryptocurrency wallet where you can store your currency. Some commonly used Bitcoin wallets are Exodus and Copay. By carefully following the rules and regulations, you can easily download these get vacancy wallets.
After setting up the wallet and selecting your desired Bitcoin exchange, it is time to create an account. Remember that account creation is the most important step because it serves as a bridge between your wallet and the exchange. For this purpose, you will have to provide your wallet’s address to the exchange. The wallet address will have a lot of different numbers and alphabets and is unique for everyone.
Whenever it comes to depositing/withdrawing or making any transaction, you will be asked for some particular information related to the wallet. Sometimes, it can be a few letters of your wallet address or anything that can confirm your identity and ensure that you are the legal and authorized holder of a Bitcoin account.
Here it is worth mentioning that some exchanges and wallets are super serious about the security of their users and they often proceed with multi-factor authentication. It simply means that you have to provide a lot of confirmation codes and other important steps for ensuring that you are the real person. show the process of authorization takes a long time with some exchanges and wallets.
However, once you set up your account and wallet, you can easily proceed with eSports betting and immediately use Bitcoin for placing bets or getting your rewards.
Advantages of betting with Bitcoin
Bitcoin has become quite a legit and transparent means of making transactions. It is due to this reason it has turned out to be a very attractive payment method for the betting world.
Bitcoin is undoubtedly the king of cryptocurrencies and it is most widely accepted by merchants. So no matter where you are located and in which type of eSports betting you are involved, you will not face any kind of issues. You will find a lot of exchanges that will accept your currency and make it easy for you to buy and purchase bitcoins.
Highly secure attributes
The safety, security, and transparency of this paper currency have taken the world by storm. it would be right to say that Bitcoin encryption has played a vital role in its acceptance in eSports betting and now it is very less likely to become the victim of hackers and cyber attackers. No one has ever succeeded in hacking the encrypted Bitcoin currency. So the eSports betting players can rest assured that their money will not disappear.
Role of blockchain technology in Bitcoin esports betting
Blockchain is a decentralized disruptive technology that not only relies on a single type of encryption but instead focuses on a series of encrypted notes that store all the aspects of individuals’ personal and transactional data and ensure a very high level of transparency.
It is due to this reason many eSports betting platforms accept Bitcoin for placing bets that run on the blockchain. This platform is highly reliable and can also be used for the investigation of particular frauds.
The Bottom Line
Well, now you have learned about eSports betting with Bitcoin, you should realize that cryptocurrencies are being widely used for placing bets. By having the basic knowledge of Bitcoin eSports betting, you can become a better gambler.