What is Bitcoin and How to Bet with Cryptocurrencies?

It is not easy to answer this question briefly, but we can say that Bitcoin is a type of digital money that is created and maintained completely electronically.

What is especially interesting about it is the fact that no one controls its use, and it is produced by developers around the world through a special process, called mining.

Bitcoin is the first currency to be created in this way and to lead to a revolution known as the cryptocurrency market.

What is great about betting via Bitcoin and other cryptocurrencies is the fact that betting is absolutely anonymous, and if you want to bet on sporting events, while avoiding all possible problems such as any form of state repression, taxes, or expensive transaction fees, betting on Bitcoin is the right solution for you.

Bookmakers where you can make payments via Bitcoin

Of course, there are specialized sports bookmakers that are crypto-only, such as 1XBit.com, Cloudbet, or Sportsbet.io, while of the regular sports bookmakers we must mention 1XBet, 22Bet, and of course one of the best sports bookmakers in the world Pinnacle, as bookmakers in which it is possible to deposit in this way and bet.

Special offers are offered by bookmakers when paying with Bitcoin to their users

There are sports bookmakers that have the possibility of deposits, games, but also payments in cryptocurrencies.

World bookmakers take care of their players and try to attract new players to register with them, and for that reason offer their new and existing customers sometimes very generous bonuses and promotions.

For example, 1XBit.com gives a welcome bonus to new users and equates the first deposit to a maximum of 1 Bitcoin, while some other bookmakers give their users regular promotions, which are reflected in free bets, or even sometimes reload bonuses, where players can recover some of the lost money.

The speed of transactions and places where you can also pay with Bitcoin cryptocurrency

As for the speed of transactions, payment via Bitcoin is as efficient as any other payment, for the simple reason that you make a transfer from your electronic wallet(specialized in cryptocurrencies), and all these transactions are extremely fast and above all secure.

The process of depositing from the electronic wallet to the bookmaker of your choice does not take longer than a few minutes on average, since it is necessary to log in to your account and determine the amount you want to deposit.

After that, the cryptocurrency is deposited and you can start betting.

If you want to use cryptocurrencies for other purposes, be sure to get more opportunities every day.

In addition to sports betting and casinos, you can buy a large number of goods and services in this way today.

The fact that the first real estate was bought and sold in the United States a few months ago, and that the real estate was paid for exclusively with Bitcoin, speaks volumes about how advanced cryptocurrency trading has become.

This and many other examples speak in favor of the development of cryptocurrencies and it is only a matter of days when they will become as developed a means of payment as standard currencies that have been in circulation for decades.

How easy is it to buy, use and trade these currencies?

Before you start your first purchase of Bitcoin or some other cryptocurrency, you need to open online electronic wallets specialized in this type of business.

These wallets work almost identically to classic electronic wallets like Skrill or NETELLER.

So, if you already have one of these electronic wallets open, it will be extremely easy for you to deal with this new type of wallet, and if you have never had contact with electronic wallets, we suggest you read our texts on this topic.

Currently, the most popular electronic wallet for Bitcoin in the world is called cex.io, so we recommend that you open an account with them.

In addition to electronic wallets, it is possible to buy cryptocurrency through Bitcoin machines, which have become part of everyday life in Europe and the world.

Step by step to registration

We have already talked in this text about what is needed in order to be able to buy or sell cryptocurrencies, ie about the necessity of owning an electronic wallet specialized for this type of transaction.

Registration on these sites is identical to registration on any other money transfer site, with the difference that users provide less personal information.

The only information you need to leave when registering is your email address and phone number, which you need to verify.

After successful verification of e-mail and telephone, you will be able to use all the benefits of an electronic wallet for the transfer, purchase, and sale of cryptocurrencies with your username.

Data security and safety when using cryptocurrencies

When it comes to data security and safety, as well as your funds when trading Bitcoin and other cryptocurrencies, we can freely say that one of the biggest advantages of such trading is the anonymity of users, which is a big problem of other classic currencies in money transactions on the Internet.

So, the entire purchase and sale are well protected by the veil of anonymity, and the sites certainly use the protection of the latest generation as far as the data that is left is concerned.

Therefore, we believe that trading in Bitcoin and any other cryptocurrency is quite secure.

Fees for transactions made in this way

As for the fees for transactions via Bitcoin, it is important to note that almost all sports bookmakers that receive this type of payment do not charge their customers deposit fees, while the fees for withdrawing money are significantly lower than for transactions made in traditional currencies.

This is primarily due to the fact that there is no intermediary in the form of a bank in cryptocurrency transactions, and therefore there is no need for additional fees.

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