Best Bitcoin Betting
Since payments with Bitcoins are processed very quickly and are also considered fraud-proof, some betting providers have already made friends with the payment method. The betting provider Cloudbet, for example, has switched its entire range to Bitcoins. The registration and betting process is the same as with all other betting providers. A bonus for new customers is also available. This is 100% up to 5 bitcoins. The minimum deposit is 0.001 Bitcoins.
Well-known bookmakers such as Netbet, 1xbet or Rivalo offer deposits via Bitcoins, but are immediately converted into euros. Bitcoin payouts already work partially. However, there are also genuine Bitcoin betting providers where you can also set BTC. These include 1XBit, Cloudbet and the Bitcoin Sports Betting Website BestBitcoinSportsbook. We have already tested the following Bitcoin bookmakers
The established betting providers continue to rely on proven sports betting payment methods such as Paypal, Paysafecard, credit cards or instant deposits. At Rivalo you can find for example this information about Bitcoin:
Betting providers that offer Bitcoins as a form of payment naturally also have advantages. This saves the bookmakers up to 4% in fees compared to other betting providers.
The betting provider 1xbit relies entirely on Bitcoins. Of course, there is also the well-known bonus for new customers. This is 100% up to one bitcoin. The bonus amount must be wagered three times on combined bets. At least three tips on a betting slip must therefore have a odds of 1.40 or higher.
Betcoin, the betting provider, has even slightly extended the Bitcoin payment terms. Some bets have a minimum deposit of 0.00001 Bitcoins. On other bets, the minimum bet is 0.0001 bitcoins. However, a higher minimum deposit amount is not required. By the way, the maximum bid for a bet is 2.5 bitcoins.
Bitcoins are also used on coinbet24.com. The betting provider reserves the right to claim the valid exchange rate between Bitcoins and money. However, this is only an introduction, as the betting provider only offers incoming and outgoing payments in the form of bitcoins. The bookie also advertises that there is no minimum deposit amount.
What is Bitcoin?
In 2008, the Bitcoin concept was introduced by an Internet user under the pseudonym “Satoshi Nakamoto”. The concept is simple. The aim is to create a digital currency that does not require central banks, governments and other regulatory authorities and is therefore forgery-proof. Here we answer the most important questions about the topic, by the way, this is the start page of bitcoin.de:
With Bitcoins you can also deposit with betting providers
What are Bitcoins and how do they work?
“Bit” is the smallest memory unit on the computer and “coin” is the English term for coin.
Bitcoins are a digital currency. It is not money in physical form, but a calculated data block. You can buy Bitcoins with real money using well-known e-wallet payment methods and use them to pay online. In the first week of January 2017, a bitcoin was worth just under 1167 euros. For comparison: one troy ounce of gold costs about the same.
The bitcoin strategy is based on an algorithm that does not produce more than 21 million units of this currency. This figure has been calculated to minimise the risk of inflation. If the amount of currency in circulation is low, inflation is also limited.
A classic bank account naturally stores the current account balance and all transactions carried out up to a certain point in time in the past. In the case of bitcoins, only those transactions are stored that are also publicly visible. Individual transactions work via a peer-to-peer network without a central point that forwards something (such as a bank).
How is the crypto currency created?
Bitcoins can be created by the so-called “mining” process. Basically everybody has the right to produce bitcoins himself. However, you need a number of prerequisites for this. First you need a Bitcoint client to register in the network. This is comparable to a betting account or a social media account. Furthermore you need a strong computer with a very good graphics card. In addition to the right hardware, you also need the right software. Through so-called “mining pool” providers, users join forces with their computers to generate the strongest possible performance.
Since the Bitcoin market has become very competitive, it is also becoming increasingly difficult to generate bitcoins with no optimized and professional PCs. The currently largest mining pool is BTC Guild. The combined computing power of the PC’s makes the process easier and faster. Users must work together to maintain the system or process transactions and are rewarded for doing so. At the end the produced blocks of bitcoins are divided among each other.
How else can I get Bitcoins?
Besides your own production you can buy Bitcoins for example in an exchange office with real money (for example in Vienna on Mariahilferstraße). It is also possible to exchange bitcoins or receive them as payment for goods or services.
How do I make a Bitcoin payment?
With an e-wallet application you can conduct Bitcoin transactions on your smartphone or tablet. All you need to do is enter the recipient address (number code) and the amount and click Send.
Advantages of Bitcoins:
- Freedom of payment: No delays in payment transactions; no predetermined limits
- Low fees: Users can add fees to the transactions to make them faster. However, these are very low
- Security: Bitcoin payments do not contain sensitive customer data. It is also impossible for merchants to charge fees because users have complete control over their system.
- Transparency: Every user within a block can view, verify or use the money supply. This makes it impossible to manipulate third parties
Disadvantages of Bitcoins:
Ongoing development: The Bitcoin network is not yet in the final phase. Some functions cannot yet be released.
scepticism of companies: Although the number of companies using bitcoins is constantly increasing, the total number is still relatively small. There was no start-up currency before the company was founded.
In recent years, Bitcoin has enjoyed impressive success as a crypto currency. Meanwhile, the currency has undoubtedly arrived in the middle of society and is also used here in numerous variants. On the one hand, the currency can be traded in the “classic” way, but on the other hand, the Bitcoin betting providers also attract. These have been able to present themselves better and better in recent years and have meanwhile become a highly interesting industry. So it is all the more exciting to take a look at the different portfolios of Bitcoin betting providers – and that is exactly what we have done.
The best betting providers with crypto as a payment option
Too many betting companies that offer you the possibility to deposit with Bitcoin do not yet exist. For many, the crypto currency is simply not yet established enough to be included in their payment portfolio. Nevertheless, in the last few years a few have been added and we have taken the trouble to select the best bookmakers with Bitcoin for you:
Sports Betting with Bitcoin: Safe and versatile sports betting
That it was only a matter of time before the first betting providers with Bitcoin were formed was in principle foreseeable a few years ago. After all, the Bitcoin offers numerous advantages for users, which can also be transferred to the sports betting market. Payments, for example, can always be described as 100% secure, since transactions with the bitcoin are absolutely forgery-proof. Sensitive or personal customer data is not required, so that criminals also have no possibility of obtaining this confidential information from the tipsters.
But that’s not all: All deposits and withdrawals for Bitcoin sports bets can be made within seconds. If a player pays an amount to one of the betting providers, it is available within a very short time and can be used. If a prize has been paid out with the sports bets, it is also quickly and easily put into one’s own pocket with the Bitcoin. In the meantime, however, Bitcoin betting providers have become so interesting because the other areas of the portfolios have changed significantly. The range of sports bets has increased significantly, while at the same time the bookies have also increased more than just one level in terms of customer support and service. All in all, there are several arguments in favour of taking a closer look at Bitcoin sports betting.
How does Bitcoin Sports Betting work?
In principle, sports bets can be placed quite “normally” with a Bitcoin betting provider. Of course, every bettor must open his own betting account with the bookmaker before the odds can be used. Directly after registration new customers have to pay a certain amount into their account, which serves as capital for betting. In most cases even extremely small amounts are sufficient, so that the “piggy bank” does not have to be looted for the deposits. Deposits are usually made at the bookmakers’ cash desks, where customers only need to choose the payment method and amount to deposit. Once this is done, the portfolio can be searched for the desired bet.
Bets can often be found with the help of different filters or search functions. This ensures that the tips can be placed within a few moments. To select a bet, simply click on the odds, which then automatically land on the betting slip. Once the desired bet has been determined, the bet can be placed. A little tip in passing: numerous betting providers supplement their offer with a mobile portfolio. This means that customers can place bets on the move when accessing the portfolio with their smartphone or tablet. There are no disadvantages or differences compared to regular bets on the home computer. But now enough of the many words – and off to the top five betting providers for Bitcoin sports betting.
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