The first cryptocurrency Bitcoin emerged in 2009. Despite a period of disbelief in it and other blockchain-based currencies, known collectively as altcoins, Bitcoin earned a reputation to be a reliable payment method and possibility to transact value.
Why choose betting in crypto?
Sports betting is a type of gambling where bets are placed on the outcome of various sporting events and where the adoption of cryptocurrencies has been successfully conducted. 1xBit, for instance, was one of the pioneering platforms which based the concept of its operations around cryptocurrencies. The company is a believer that the use of this particular type of digital money is far more advantageous than being reliant on the traditional means of payment, such as cash or bank transfers.
Further advantages of cryptocurrencies
The key benefits of betting in crypto:
Bitcoin, as well as many other cryptocurrencies, had the concept of anonymity at its core. That is a serious issue which many gamblers have to face when they deposited funds on betting platforms. Being forced to reveal personal or banking data, made many punters give up on the ideas of trying their hand in sports bettings.
2. High transaction speed
In relation to the tedious bank transfers, Bitcoin provides an almost lightning speed of transactions. If previously one had to wait for 24+ hours to see the winnings from successful betting appear on the bank account, with cryptocurrencies it only takes from several seconds to an hour, depending on the network load.
3. Small fees
Not to forget there are the betting taxes which the governments impose for winnings from sports betting. The low transaction costs and fees by betting with cryptocurrencies will at least save you some money compared to traditional payment processing costs.
4. No middleman
Perhaps, many gamblers have experienced the situation when they were unable to deposit funds to the playing accounts simply because their banks had a ‘grudge’ against betting platforms. With crypto, they wouldn’t have had this problem since these transactions are carried out on the peer-to-peer basis, meaning that there is no intermediary to prohibit the bettor to do whatever he wants with his money.
Finally, due to the fact that cryptocurrencies remain a volatile financial instrument, the value of which may increase or fall significantly in a short period of time, acquiring the winnings from sports betting in crypto and then holding it in a digital wallet, may provide for an opportunity to increase the material well-being without doing virtually nothing, just as a reward for patience.
Sports betting: Why go with 1xBit?
1. Bet on whatever and however you want
The fact that 1xBit affords ground for the gamblers from all over the world to place bets on sports using more than 20 top cryptocurrencies of today is not the only advantage of this innovative and player-oriented platform.
The majority of sports betting platforms offer punters a chance to place a wager on such widely popular sports as football, tennis, boxing, ice hockey, and Formula 1. 1xBit decided to go much further in their desire to offers players the best betting options. More than a dozen sports, among which are UFC, esports, horse racing, golf and futsal, are available for betting using several popular cryptocurrencies.
2. Fully anonymous
In addition, 1xBit has a unique one-click registration procedure which ensures total anonymity of each player – you won’t even be asked to share the e-mail address if you don’t want to.
3. Numerous bonuses and promotions
A welcome package up to 7 BTC and a wealth of other perks and promotions – that’s what makes 1xBit one of the most feature-rich and progressive cryptocurrency platforms in the industry.
Instant Crypto Credit Lines™ from only 5.9% APR. Earn up to 8% interest per year on your Stablecoins, USD, EUR & GBP. $100 million custodial insurance.
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Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.
Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future.
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