Cryptocurrencies are on everyone’s lips and Bitcoin, Ethereum and Co. are also gaining importance for sports betting and online gambling. Depositing and withdrawing with Bitcoin naturally has its advantages and disadvantages, which should always be weighed against each other. Even though Bitcoin is independent of national and international banks, its price fluctuates greatly on a daily basis. Also, depending on the assessed transaction fee, it may take some time for the amounts to reach their destination, i.e. the sportsbook account or your own Bitcoin wallet. You can find out what the advantages and disadvantages of depositing and withdrawing with the digital currency Bitcoin are here. In addition, we will show you a selection of the best Bitcoin betting providers for your home country, if the provider is available in your country.
If you make deposits to your sports betting account with the cryptocurrency Bitcoin, you ideally determine your own fees. Online bookmakers that offer Bitcoin sports betting usually do not charge any fees themselves. Many Bitcoin sports betting operators also grant an attractive bonus on deposits made with Bitcoins, which is in no way inferior to that for a real money payment.
In some cases, Bitcoin betting providers even offer an incredibly high welcome bonus that puts any other payment method in the shade. The bonus for Bitcoin betting on some portals reaches up to 7 BTC, in comparison, conventional online betting providers double the first deposit of new customers with a 100% welcome bonus up to €100.
Those who use bitcoin as a payment option are not subject to any individual regulations from private payment providers and can also receive and send payments completely anonymously. As long as the market remains as it is, there is no hiding the advantages of the payment method.
Crypto betting providers that accept deposits in the form of Bitcoin provide their customers with an individual transaction ID (Bitcoin address), to which the virtual money is sent. Once in the betting provider’s account, the digital currency is either booked in the form of bitcoins or converted into an equivalent currency, e.g. euros or US dollars, before it can be wagered on specific events. This procedure has the advantage of not having to deal with confusing decimal point amounts. After all, hardly anyone is likely to wager an entire Bitcoin as part of a bet when 1 BTC is equivalent to a five-digit euro amount.
Bitcoins are stored in so-called hardware or software wallets. A Bitcoin wallet can be created by any betting customer with just a few clicks. The creation of a wallet is not associated with any further costs for the customer. Those who are already familiar with cryptocurrencies and attach great importance to security, use a so-called hardware wallet (Ledger), on which the Bitcoins are stored on the physically encrypted. A Bitcoin wallet based on software has the advantage that you can access the virtual money at any time with a Bitcoin app mobile. Through the app, you can send and receive Bitcoins, repurchase or exchange corresponding cryptocurrency. Deposits to Bitcoin sports betting providers can thus be made via the app without any problems.
Sending and receiving Bitcoins is mostly free of charge at betting providers, although a minimum fee always has to be added for each Bitcoin transaction. However, the transaction speed with which the virtual money can be posted in one’s wallet varies greatly. The reason for this is the so-called preset transaction fees, which vary daily. In the blockchain, the large Bitcoin network, the transactions that are most attractive for the miners are always prioritized.
It is therefore advisable to set an individual fee based on the current activity in the blockchain. Any costs incurred for deposits and withdrawals at Bitcoin sports betting providers are bitcoin-specific due to the currency, so to speak, and have nothing to do with online betting per se.
Further costs may be incurred if the personal betting account at the Bitcoin betting provider is not based on the corresponding cryptocurrency, but the user account is managed in Euros or USD. The deposit with the selected cryptocurrency will then be exchanged into Euros or USD by the Bitcoin sports betting operator. Some Bitcoin betting operators cover the cryptocurrency to FIAT currency exchange fee, but some bookmakers do not.
If you want to make deposits at a Bitcoin bookmaker in the form of Bitcoins or another cryptocurrency, you first need your own wallet, which already has a certain amount of virtual money stored in it. Then, sign up with a Bitcoin betting provider of your choice that accepts sports betting with Bitcoin to initiate a deposit using the digital payment method. How to open an e-wallet for Bitcoin betting and how to make a deposit for sports betting with it afterwards.
You can open a Bitcoin wallet quickly and easily with a variety of providers on the Internet. If you haven’t had too much to do with cryptocurrency so far, you should start with a software-based wallet first before switching to using a Bitcoin ledger later on if necessary. Before you can make deposits via Bitcoin, it is important to first store Bitcoins in your own wallet. Corresponding options to buy Bitcoin for euros or exchange them for other common currencies are offered by almost all crypto wallets.
Betting providers that accept deposits in the form of Bitcoins offer customers a specific transaction ID tailored to their own member account. From one’s own wallet, any amount can be sent to the transaction ID of the corresponding betting account. The transaction ID is similar to an individual account number, which is unique and unmistakable. Before making your deposit, check whether the bookmaker grants a sports betting bonus and what the conditions for it are. If the rules and conditions for the bonus are fair, you should take advantage of it in any case.
With the confirmation of your payment, the sports betting bonus can be activated. Some bookmakers require a bonus code, which you must specify accordingly when making the payment. If the digital credit has been successfully deposited with the bookmaker, you will have full access to the entire betting offer from your betting account. You have the option to bet on anything at the sportsbook, whether you prefer pre-match betting or live betting.
Bitcoin payouts basically work like any other payment methods. Betting providers that offer Bitcoins as a payout method offer customers the option of storing the transaction ID generated in their own wallet in the bettor’s member account. From here, the amounts can then be quickly and securely posted back to their own wallet. Should you have an active Bitcoin sports betting bonus, the rollover or turnover requirements must first be met before the winnings can be paid out.
Bitcoin is a global virtual currency that is available everywhere across borders. The technology inspires people all over the world and its use has become a real trend. The anonymity of the payment method is just one of the advantages of BTC and Altcoins. Even in Germany, Austria and Switzerland, deposits and withdrawals can be made in the form of cryptocurrencies for participation in sports betting. Even in China, there is currently a turnaround: Although cryptocurrencies were banned for quite a while, the latter are now prospectively allowed in the Middle Kingdom.
Many modern betting providers are expanding their portfolio by now accepting BTC and altcoins as a method for deposits and withdrawals. Other bookmakers, on the other hand, have dedicated themselves exclusively to betting with cryptocurrencies and do not accept conventional currencies. If no conventional payment methods such as credit card, MuchBetter or Paypal are accepted, sports bettors should have a very special look at the seriousness and reliability of the respective provider.
Accordingly, the best Bitcoin betting provider should combine several options for deposits and withdrawals. You can find a comparison of the best crypto betting providers on the esportsbonus.net website. You will also find some of the bookmakers listed there on our homepage in the top 10 best betting providers for Germany.
It is also worth taking a close look at betting providers that offer the option of depositing and withdrawing with cryptocurrencies. It can be decisive, for example, which limits apply and which requirements the sports betting customers have to bring along in order to be able to make transactions with cryptocurrencies. The availability of an internal currency conversion as well as the option that classic currencies are also available if required can also be the basis for deciding for or against a betting provider with a bitcoin option.
Those who decide to deposit with Bitcoins usually receive the regular new customer bonus, which promises, for example, a doubling of the first deposit amount. A general bonus reserved exclusively for crypto depositors is often available at those sportsbook providers that currently want to introduce and promote this deposit option.
At esportsbonus.net, we present you with the best betting bonus offers from licensed bookmakers from your country, so you can quickly get an overview of which welcome bonus awaits you as a new customer. You will also find a detailed test with rating for each online betting operator. Interested Bitcoin sports betting fans should also quickly find a suitable provider here, where the betting offer can be enjoyed with a fair betting bonus to start with.
Real testimonials for transactions with Bitcoin – the opinions of users.
Cryptocurrencies are new territory for many users as a payment method. Therefore, it is exciting to take a look at opinions from real users who have already had experiences with the payment method. This way, curious and interested parties can get an overview of potential advantages and disadvantages of this payment method in advance.
Bitcoins and other cryptocurrencies did not play a role in the offers of sports betting providers for a long time. In the meantime, however, more and more modern providers offer their customers the additional option of being able to deposit and withdraw with cryptocurrencies as well. Some providers have even specialized exclusively in betting with Bitcoins and other cryptocurrencies.
Those who want to deposit and withdraw with cryptocurrencies actually transfer the currency anonymously in most cases. Most software wallet providers also do not collect any personal data during registration. However, users who want to make sports bets on a crypto basis should note that when buying and selling Bitcoins on the renowned and reputable sites, reference account details and other personal data must always be provided. However, the sportsbook itself does not receive any data from its crypto bettors.
A distinction is usually made between hardware and software wallets. On the Internet, there are many different providers where sports betting fans who want to deposit with cryptocurrencies can create a software wallet quickly, easily, free of charge and anonymously. Alternatively, a hardware wallet can be used, which can be stored directly on one’s own computer in encrypted form. Those who choose the latter option for themselves should have already gained experience in the field of cryptocurrencies.
Bitcoin transactions are considered to be secure. The blockchain network controls itself. Amounts are posted only after objective and independent “confirmations” or acknowledgements. Transactions work amazingly well and with unrestricted reliability. What is important for fast transactions is the optimal setting of the transaction fee. If you believe the experts, no private Bitcoins have yet been lost during deposits or withdrawals in the sports betting sector.
The most important questions about sports betting with Bitcoins, which newcomers and those switching to Bitcoin ask again and again, can be found answered here quickly and clearly:
Sports betting providers usually do not charge fees for deposits and withdrawals with Bitcoins. However, the BTC deposit and withdrawal limits, which can vary from provider to provider, must of course be observed. If applicable, the betting provider sets an individual transaction fee, which users could understand as a fee. However, this fee is not a fee that the sports betting provider itself charges, but a small amount that always accrues when Bitcoins change hands quickly and reliably.
Users need a software or hardware wallet to store, send and receive cryptocurrencies. This type of wallet can be roughly compared to the classic e-wallets that store real physical currencies. For storing, sending and receiving Bitcoins, there are different providers that offer the possibility to create a wallet for free.
Yes also withdrawals in the form of Bitcoins are possible with most providers that offer sports betting based on cryptocurrencies. For this purpose, the individual transaction ID, which you can find in your software wallet or generate there, must be deposited and stored in the payout area of the sports betting provider. This way, the bookmaker can transfer the selected amounts in the form of cryptocurrencies to your personal wallet.
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