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The Benefits of Using Cryptocurrency for Deposits and Withdrawals in Betting Sites

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By , Updated On December 30, 2024

Benefits of Using Cryptocurrency for Deposits and Withdrawals – Crypto betting sites have become a trend. Since these payment methods allow anonymity, security, fast transactions, low fees, and global accessibility – all things that bettors love – it’s normal that more and more brands are featuring Bitcoin and the like as payment methods. This article covers all the benefits you can enjoy when you use cryptocurrencies to deposit and withdraw at online bookmakers.

Advantages of Using Cryptocurrency for Deposits and Withdrawals on Betting Sites

No Geo-restrictions

Some payment methods may be available in some places and unavailable in others. A perfect example of this is PayPal, which isn’t readily available in India. Cryptocurrencies, however, are decentralized and can be used to transact from anywhere, as long as the state laws do not prohibit their usage.

Lower Transaction Fees

Cryptocurrency transactions come with little or no fees, unlike traditional financial payment methods that can be costly due to the presence of intermediaries. Also, with crypto coins, you don’t have to worry about currency conversion, exchange rates and cross-border fees. Ultimately, you’ll save on transaction charges and be able to keep more of your profits.

Fast Transactions

With no middlemen or third-party agents in between gambling transactions with cryptocurrencies go directly from one point to the other between your wallet and the bookmakers. This speed is more advantageous for withdrawals since payout processes usually take several days via fiat banking methods. With cryptos, you can receive your withdrawals as quickly as the blockchain network traffic permits. This is usually within a few minutes.

Anonymous/private Transactions

When you use cryptocurrencies to fund your bets, no one needs to know who you are. Gambling transactions can reflect poorly on your credit score, or maybe you simply don’t want anyone tracing your gambling spend. Paying with BTC or Doge enables utmost privacy as it doesn’t require you to reveal your identity or bank account details.

Supports Bonus Claiming

Crypto sportsbooks usually allow you to claim bonuses via these methods. And that is not the case with all fiat methods. 1xBet offers one of the biggest betting bonuses out there. You can claim a deposit bonus of up to ₹66000. All you need to do is deposit at least ₹200 and use the promo code at Sportytrader to activate the offer. At 1xBet, you can use cryptocurrencies like BTC, ETH, LTC, and TRON.

Good for Deposits and Withdrawals

Cryptocurrencies support two-way transactions. The reason this has a benefit is that some sportsbooks require you to use the same method used in depositing to withdraw as well (for fraud prevention purposes). If you use a method like a debit card that doesn’t accept withdrawals from the sportsbook, you’ll need to confirm with the bookmaker about using a different withdrawal method. In the meantime, your payouts will be delayed.

Crypto gambling is not just a random trend. BTC and other altcoins are, in fact, the best ways to fund your gambling because of their inherent benefits. The best part is that they’re just as secure as top fiat payment methods you already know and love.