Listed below are the betting sites that accept Bitcoin as a form of currency. In most cases this is for both deposits and withdrawels, but keep in mind payment processing can vary across each platform and additional fees may be incurred for crypto payments.
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What Is Bitcoin
Most popular cryptocurrency
Bitcoin is the most popular form of cryptocurrency, with many people all over the world making an investment in BTC or alternatively speculating on the value of Bitcoin over a period of time. Like other cryptocurrencies, this is an unregulated currency and the lack of centralisation means that the value can be volatile, with the prices going up and down on a frequent basis.
You need a wallet
There is no exchange rate when it comes to Bitcoin and there are a number of different external factors which govern how much it happens to be worth at any given time. Should you choose to acquire Bitcoin, it’s often the case that you will need to have an online wallet in order to keep it.
This is essentially one of many digital currencies that now exist and the best way to consider this is that it’s a person-to-person Bitcoin network where there are no brokers or intermediaries required in order to complete a transaction. There is a public ledger which records all transactions and copies are then held on various servers in the world.
How To Deposit Wth Bitcoin
Use a trusted account/wallet
Many consumers will use a website such as Coinbase in order to create an online wallet where they are able to house Bitcoin. You can also access this when it comes to visiting a crypto betting site and making a deposit, with the operator needing you to link to the wallet in order for the transaction to be completed smoothly.
Not all bookies use crypto
You naturally need to identify the betting sites that are prepared to accept Bitcoin as a form of payment. It’s not always the case that a bookmaker will be willing to have crypto payment options, with the UK-licensed bookmakers not in a position to provide this option due to the regulation in place.
Bitcoin is the most commonly traded
However, if a bookmaker is willing to accept cryptocurrency as a payment, then Bitcoin is likely to be included and it’s a simple case of making a deposit in a fairly standard way. Once you have registered a new betting account, you can choose crypto as a form of payment and then decide how much you want to deposit into your account.
Crypto often requires a higher minimum
Bear in mind that there might be a minimum deposit amount required, with some operators also needing to see some proof of identification before you go ahead and make the deposit. You also need to be able to link from your betting account to your online wallet where the cryptocurrency is stored so that your Bitcoin deposit can go ahead.
Betting Withdrawels Through Bitcoin
Crypto withdrawels are faster than cash
It is a truth commonly acknowledged that betting transactions using Bitcoin tend to be speedier than you will find with other payment methods. This is an anonymous way of submitting money into your account and then withdrawing it back, although there are only selected bookmakers that are offering this payment method right now and many licensing territories are not prepared to consider a unregulated currency.
Bitcoin is the slowest crypto
Bitcoin deposits tend to take no more than five minutes in order for funds to be placed into a betting account. As far as Bitcoin withdrawals are concerned, they might take a little longer although the majority of customers find them a whole lot quicker than submitting a withdrawal request through bank card and waiting for the whole transaction to be completed.
If a bookmaker is trying to stand out to Indian customers by virtue of having Bitcoin as a deposit or withdrawal method, then it stands to reason that they will want to process the withdrawals in super quick time. It doesn’t mean that you won’t be asked for identification or to verify your betting account before the process is made.