According to the latest research, cricket is the most popular sport in India. This sport has a long history in the nation and many cricket fans tend to make bets on this sport on numerous betting sites. Recently, some online betting platforms started to accept payments with Bitcoins together with more traditional payment types.
Below we describe in more detail how betting on cricket using Bitcoins works.
How Bitcoin is used for online betting
There are two general types of currencies. One of them is traditional currencies, like the Dollar or Euro, and the other type is cryptocurrencies that exist only on the internet, do not have any physical presence, and can be transferred only electronically. Nowadays, Bitcoin is the most popular example of cryptocurrency. It is also decentralized, like other cryptocurrencies, as it is not controlled by any institution.
You can use Bitcoins like any other currency. In particular, you can buy goods and services online and even make deposits on betting sites, including cricket betting. In this case, it is highly recommended to choose carefully the site for Bitcoin betting and spend some time going through reviews such as Sportsbet.io review.
Why Bitcoin betting is so popular
Betting online with Bitcoins is quickly becoming one of the most popular payment methods at sports betting sites in India, and there are several reasons for this.
Quickness. With the help of Bitcoins and other cryptocurrencies, users can transfer funds almost instantly around the world. Such fast payments are available because Bitcoins are stored digitally and the Bitcoin network processes payments relatively fast. Therefore, the transfers with Bitcoins, including betting deposits, are almost instantaneous.
Cheap price. When you use Bitcoins for your online payments, including deposits and withdrawals, you can avoid transaction fees as well as foreign exchange fees. Bitcoin is widely accepted around the world. Hence, if you choose a foreign cricket betting site that accepts this cryptocurrency, you do not need to exchange it for other currencies. Moreover, in most cases, betting sites do not apply fees for transactions with Bitcoins or the fee amount is insignificant.
Safety. All transactions with Bitcoins are carried out in a peer-to-peer method and, therefore, third parties such as banks, do not monitor them. This is the main reason why Bitcoin transactions cannot be duplicated. Additionally, when you make financial transactions with Bitcoins, you do not need to indicate your personal information, including financial information that can be stolen by others. Finally, transactions with Bitcoins are very fast and secure, and you can be sure that you are placing your bets safely.
How to start betting with Bitcoins
If you want to start making bets on cricket using your Bitcoin wallet, you need to take the following steps.
- First, you need to choose a reliable betting site where you can make bets on cricket and which accepts Bitcoins.
- After that, you will need to create an account and choose Bitcoin as a payment method for deposits and withdrawals.
- Then, you should fund your betting account using your Bitcoin wallet.
After the completion of all previous steps, you can start making bets with Bitcoins.
Many betting sites in India and other countries accept various payment methods, including cryptocurrencies. If you want to transfer funds from your Bitcoin wallet to your betting account, you should carefully investigate the deposit section of the betting site and choose Bitcoin as your preferred deposit method. There may be also various promotions on the betting sites, including bonuses for deposits in Bitcoins, so we recommend paying attention to the relevant section on the betting site.