Bitcoin sports betting sites
The number of sports betting sites that accept bitcoin has been increasing over the last…
Cryptocurrency is becoming an extremely popular means of payment in the sports betting industry, with hundreds of sites offering this option in 2022. In response to increased competition, bookmakers and online casinos are starting to offer more cryptocurrency bonuses to attract more users and high rollers. Another reason to bet in cryptocurrencies is the ability to make deposits and withdrawals quickly, as well as low fees and a large selection of games that can be played using Etherium and another cryptocurrency. In this article, we will talk about the best Etherium betting platforms, what is the advantage of ETH over fiat money, and how to choose the right bookmaker company.
If you would like to try your hand at sports betting and plan to use the Ethereum coin as a payment method, then your task is to find a bookmaker that uses this currency for both deposits and withdrawals. It is equally important to choose an honest bookmaker that will allow you to bet as safely as possible. Our list of the best Ethereum betting sites will help you to do this.
Among the many cryptocurrencies, Ethereum occupies a special place, as it is considered the main competitor of bitcoin and one of the most promising digital currencies. It also has significant advantages that allow Ethereum to be viewed in a completely new context than a conventional digital currency. Let’s get acquainted with it in more detail and evaluate its prospects, based on the available information from the leading cryptocurrency exchanges.
After bitcoin, Ethereum is considered the most famous and in demand. What is Ethereum, let’s try to figure it out further.
Ethereum is a type of electronic currency (you can read about the concept of cryptocurrencies and electronic currencies here), which is based on blockchain technology, where all information about a monetary transaction is recorded. This technology allows you to register any transactions, regardless of the type of assets, based on a distributed database of blockchain-type agreements without using the usual legal procedures. It is called “smart contracts”. In exchange markets and cryptocurrency exchange points, Ethereum is designated as ETH.
At its core, Ethereum is both a cryptocurrency and a decentralized functional environment that has radically changed the IT space.
How is Ethereum used? Based on it, you can create applications. Many projects on Ethereum have already been created, examples of which will be given below. Ethereum also helps to get access to the smart contract. Of course, it is used as a currency for payment. Many bitcoin users switched to this digital unit due to the slowdown in its development. The widespread use of Ethereum is attracting more and more attention to it because its use is limited only by the imagination of Buterin and his team. The payment system started to operate in 2015. Given the fact that it has its own currency (Ether, abbreviated as ETH), the Ethereum service allows you to open an account, or rather an electronic wallet, with the ability to anonymously store personal funds and manage them at any time. However, the Ethereum system is banned or restricted in 19 countries around the world. A complete list of banned countries is available on the official website of the system.
To create a new Ethereum e-wallet (hardware, paper or software), follow these steps: go to the AppStore or Google Play, download the Ethereum app, set a strong password, add ETH to your wallet and enter an email address to receive notifications for transactions in ETH.
According to users, replenishing an Ethereum account is not difficult. Many wallets already contain exchangers and accept payments from bank cards and other payment systems. If you replenish your account through a third-party exchanger, then almost always the user will be prompted to enter an open wallet address and transfer funds to it. In the same way, you can transfer assets from other wallets. Simply put, you can replenish your wallet from a bank card, other payment systems, other wallets, from crypto exchangers – just specify an open address.
The deposit procedure on Ethereum sports betting sites is considered to be quite simple. Only a small percentage of new users experience any difficulties. So, to top up your account select the amount you want to deposit, after which you will be sent a request to transfer ETH from the bookmaker itself. After receiving the notification, send ETH to the sportsbook and the funds (usually in USD) will appear in your gambling account in a few seconds.
As for the withdrawal of funds from the bookmaker to the Ethereum account, in this case, some problems may arise, since not all bookmakers support Ethereum as a withdrawal. It is necessary to find out whether it is possible to withdraw funds to Ethereum in the support service of the bookmaker”s office even before registration.
First of all, the biggest advantage of using Ethereum for sports betting, as with other cryptocurrencies, is that you do not have to enter personal information or provide any documents to bookmakers. The Ethereum electronic wallet is 100% anonymous.
You might also be interested in top XLM sports betting sites and Monero sports betting.
Are all Ethereum bookmakers legit?
Unlike Bitcoin bookmakers, the number of illegal Ethereum betting companies make up only a small percentage of the online gambling market.
What is the transaction fee in Ethereum?
If we speak about withdrawals, compared to other methods, ETH is much more economical. For example, a bank transfer usually charges $50.
How long does it take to withdraw to ETH?
ETH withdrawal is processed every day, regardless of the day of the week. Withdrawal of funds usually takes no more than 15 minutes but may vary depending on the specific case.