Best Bitcoin Bookmakers 2020

Bitcoin Sports Betting

Bitcoin was first established in 2009, and since then it has grown to be the most well-known cryptocurrencies in the world. It was the first, and it grew to be the highest valued one in 2017 when it reached a price of nearly $20,000. Since then it has dropped to a much lower value, but this is still much higher than most coins on the market at the moment.

How Does It Work?

Bitcoin works via a mining process, which essentially involves individuals using their computers to rapidly decipher code to mine currency. There are a limited number of Bitcoins available, and this sets it apart from regular currency and some other cryptocurrencies. This limitation means there is a lot of potential for Bitcoin to increase in value once again, as the demand may increase in the future while the supply depletes.

Advantages and Disadvantages

Bitcoin uses strong encryption methods to make transactions. This means there is a high level of security associated with Bitcoin transactions, and in turn, there is anonymity. You can bet using Bitcoin and nobody will be able to tell that it was you or where the money came from.

Because of the anonymity of Bitcoin, a lot of betting sites will not require you to enter basic personal information such as your name or home address. If you are wanting to keep your betting to yourself, this is definitely one of the best ways to do it. However, you might still have to provide ID or other information to some betting sites in order to make a withdrawal.

Another key advantage of Bitcoin betting is that there are near-instant deposits and Bitcoin withdrawal. This is very useful, as a lot of betting sites will impose limits or periods of time where you are unable to withdraw your funds. Having more control over your money is always a good thing.

One of the more betting specific advantages of using Bitcoin bookmaker is the huge welcome bonuses that many have on offer. They can be available for several Bitcoins, which is substantially more than your average welcome bonus on a betting site in terms of normal currency.

There are some disadvantages to Bitcoin betting, and the main one is the fact that there is a lack of regulation with online betting sites that use Bitcoin. Bettors have to choose sites that allow Bitcoin betting in the first place, and due to the lack of identity and information requirements associated with Bitcoin betting, it usually means these sites are not well regulated.

The value of Bitcoin is also much more volatile than fiat currency, and so your deposit value can change by the day without you even placing a bet. Bitcoin is also just not regulated itself, and so depending on where you deposit and withdraw your funds, you are at the mercy of those running the Bitcoin exchanges. They can often disappear with all of your funds, and there is nobody to call if you make a mistake.

With these disadvantages in mind, you must consider whether or not you want to dive into the world of Bitcoin betting.

How Is Bitcoin Used For Sports Betting? Is It Safe?

Bitcoin is used on a wide variety of sports, just like standard online betting. Best Bitcoin sportsbooks allow you to deposit and make Bitcoin payouts just like a regular betting sites, and you will be able to have access to the same wide market of sports in most cases. Bitcoin bookmakers have even virtual sports and esports to bet on as well.

In terms of safety, this loops back to the idea of the lack of regulation. Due to the anonymity of Bitcoin transactions, most people who are looking to bet with Bitcoin will need to go to bookmaker Bitcoin with weaker licenses. This does not mean that these betting sites are unsafe no matter what, but with the reduced regulation, there is a chance that if you run into problems you may find it hard to find someone to help you.

As long as you do your research beforehand and you find a bitcoin sportsbook that has a strong reputation of being safe and secure, you will be able to bet Bitcoin for sports betting on all of your favourite sports in a safe way.

Where to Buy Bitcoin cryptocurrency?

If you want to buy Bitcoin, you can head to Bitcoin.org to find out more. There are ATMs that you can visit to make transactions just like a regular ATM, and this is the main way to obtain Bitcoin.

You can get Bitcoin by buying the coin with crypto or fiat on a variety of crypto exchanges. There are dozens of platforms that offer BTC trading services, such as Binance, Coinbase Pro, Bittrex, HitBTC, Huobi, Kraken, OKEx, CoinBene, Bitfinex, and many others.

However, in terms of where you can go to place your bets, there are lots of Bitcoin bookies to choose from. As we have already discussed, you will need to do your own research to make sure that you pick the right Bitcoin bookie for you, and that you make sure it is safe and secure. Bitcoin changes every single day, so keep an eye out for major changes.

Conclusion

Bitcoin betting presents a new way of winning money at online bookmakers Bitcoin. With its high level of security built into the currency itself, along with the lack of identity and personal information required at sports betting sites that accept Bitcoin, it is a convenient way to bet online. There is a lack of regulation in most cases that can make Bitcoin betting a bit less safe than traditional betting, but if you do your research you can definitely do it safely. There are lots of sites and Bitcoin betting app to choose from, and as cryptocurrencies, in general, become more popular, they will likely become more regulated too.

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