Choose the cryptocurrency for betting on sports

Cloe Gomez   //   Sep, 16   //   No Comments

The sports wagering industry has readily accepted the use of cryptocurrency to gamble on their platform. There is no doubt that there are many benefits of betting with cryptocurrencies and the bookie pay per head agrees to this. As people start to trust this currency, even more, the demand is only going to increase in the future.

The gambling method stays the same, but the bookie pay per head prefers that players use cryptocurrency instead of the traditional money because it gives an added level of security to both the player and the bookie. It also leads to a much smoother process and attracts fewer fees.

You have to spend some time to learn this, but once you start, you will eventually get used to using cryptocurrency in sports betting. Also, when you begin to see savings on the transactions, you will embrace this idea with open arms. There are, however, many options beyond Bitcoin, and if you know about the various cryptocurrencies, then you can use the money to bet on sports and also make money when you trade on these coins.

Which is the preferred cryptocurrency to bet on sports

Bitcoin is undoubtedly the most popular of the cryptocurrencies, but there are other options too. You will easily find a bookie site that will accept Bitcoin to gamble. However, with a little bit of research, you will also come across websites that allow the punters to wage with Litecoin, Bitcoin Cash, and Ethereum among the others.

Gambling with Bitcoin

Bitcoin was the start of the cryptocurrency market, and it got introduced in the year 2009. It is no doubt the leader of this industry. It has the highest value on date and is also the one that is the most accepted. If you are starting to bet on sports using cryptocurrency, then you may want to start first with Bitcoin. Just make sure that you keep an eye on its price volatility which can be a concern at times.

Gambling with Bitcoin cash

Bitcoin cash got split from Bitcoin in the year 2017, and it should not be confused with the original Bitcoin because it is a different entity.  The algorithm of Bitcoin cash is the same as Bitcoin, and it is also accepted widely.

Gambling with Litecoin

Litecoin is Bitcoin’s clone, but it comes with added advantages. It is quick to transfer, and it uses a different kind of encryption method. It offers a better price as the built-in fee is lower. Litecoin is a fast-rising cryptocurrency and many sportsbook offer it to their punters.

Gambling with Ethereum

Ethereum is the largest and also the cryptocurrency that is the most used in today’s market. In some of the significant sportsbook, you should not have a problem to bet with Ethereum.

Betting using the other cryptocurrencies

The cryptocurrencies mentioned above are the most popular ones, and they are also widely used globally. However, apart from these, there are many other coins available, and you can look at them if you feel so. Some books accept cryptocurrencies of all kinds that you can use to bet. The avenue of using cryptocurrency to gamble on a sports betting platform is endless.