The aim of this article is to prove that betting with Bitcoin is way better than doing so with any other currency. And it does that.
For the sake of people not knowing a lot about Bitcoin let’s make a quick recap. Bitcoin is a digital currency that is created, held and distributed through the internet. It’s completely decentralised which means there is no entity that could control it. It’s the free market at it’s best. Anyone in the world can buy and use it, there is limited supply so the value will most probably only go up, transaction fees are very small and the transfers are a lot quicker than in traditional banking and money transferring.
Why is it better to bet with Bitcoin?
#1 Freedom to play anywhere from anywhere
There are many restrictions set by classic bookmakers and one of them is the regional restriction demanding you to live in a specific country or use a specific currency. With Bitcoin you have one digital currency that you can use anywhere in the world. Everyone is accepted!
#2 Free & instant deposits and withdrawals
**Get started with Bitcoin at Coinbase.**
Bookmakers may take some time to process your deposit but the worst thing is the minimal withdrawal amount. It means that you won’t get your money unless you have raised enough to do it. And enough can be any number depending on the company’s policy. Using cryptocurrency gaming sites you can get your winnings instantly.
#3 It can be your only way of betting legally
Bitcoin betting is not considered gambling in many countries due to Bitcoin not being recognised as a real currency. If that’s not freedom we don’t know what is.
#4 It’s safer on many levels
Because most people treat Bitcoin as an investment tool, they don’t keep their life savings in it, stored on one account. People often do that with other currencies and give access to anyone that asks for it by providing credit card information. That can be dangerous. With Bitcoin you can easily have many addresses if you want to and stealing your money is a lot more difficult.
It’s also private, there is no personal information attached to the bitcoin address that can identify you in any way.
It’s getting more valuable every year
Bitcoin costs around $400. Half a year ago it was about $280. A year ago it was $211. See what we’re getting at? Bitcoin is a good investment and will probably pay off big for you in the foreseeable future.
#6 Bitcoin is the future and more and more companies believe so too
I believe Bitcoin’s importance as a payment system will continue to grow and this is the main reason to chose it instead of other crypto or non-crypto currencies. Bitcoin betting is just better if you don’t consider exchanging it back and forth after every bet – due to dynamic changes in exchange rates you could lose money despite of winning the bet – although in the long run you will always get more than you bought.
Eric Baker, Blockchain enthusiast exploring cryptocurrencies since 2011. Currently focusing on Bitcoin because of its chances for adoption. Professionally, a Brand Manager at OneHash.com.