How is Ripple Used for Sports Betting?
As ripple uses blockchain technology, Bitcoin is still required to buy it. This makes it ideal for those that are already familiar with Bitcoin, but it can be quite daunting for those that have never dabbled in the world of cryptocurrencies. Nonetheless, if you do decide to use Ripple for your sports betting and you find a site that you wish to use, it is very easy to get started. Once you have Ripple coins, you can send a transfer request to the betting site of your choice and then transfer your money as you would with any other cryptocurrency.
In terms of safety and security, Ripple does still come with the same concerns that other cryptocurrencies have attached to them. As a currency, your money is highly secure in your digital wallet. This is due to the multiple levels of encryption that the blockchain provides. However, in order to find a sports betting site that accepts Ripple as a form of payment, you will probably need to choose one with a relatively weak license.
This is due to the fact that cryptocurrency sports betting involves and relies on its anonymity. Therefore, the betting sites that accept cryptocurrency as payment will usually not require you to provide them with any personal information and they won’t ask you to provide proof of your identity. This can make it difficult if you run into any problems, as they are not regulated by any gambling authorities and so your safety and security are really in your hands. Make sure to pick a reputable sports betting site that you can trust.
Where Can You Buy if You Want to Bet With Ripple?
You can buy Ripple in a similar way to most cryptocurrencies on the market. You do need to first buy Bitcoin and then exchange that for Ripple at an exchange, such as Bittrex or Polonies. Then, you will be able to exchange real money for Bitcoin, and then for Ripple and vice versa. From there you will have the Ripple funds stored in a digital wallet, from which you can send them to the betting site of your choice.
Ripple (XRP) crypto is available for buying, selling, and trading on a wide number of exchange and trading platforms. There are over a hundred platforms that support XRP. Most popular is Binance, Gemini, Coinbase Pro. Ripple is paired against various fiat and crypto, with XRP to LTC, XRP to ETH and most popular pair XRP to BTC. In these exchanges you can changes different currencies, Ripple paired with XRP to dollar, XRP to EUR, XRP to GBP, XRP to AUD and etc.
Once you have your funds set up, you then need to pick a sports betting site to place your bets on. Nowadays there are lots of betting sites out there that support the use of cryptocurrencies, and Ripple has its popularity on its site in this case as it is supported by many of these sports betting sites.