Guide to bet in bitcoin and cryptocurrencies
Bitcoin appeared in 2008 and has gradually become a payment method that has conquered several online platforms. Although it was impossible to use it in certain sectors such as sports betting, it is now a reality. Several brokers offer this new technology in their transaction solution, and it must be said that it works.
Why bet in cryptocurrency?
You should know first of all that Bitcoin is not the only payment method newly suitable for betting sites. There are also other crypto currencies that are tolerated to secure sports betting. Indeed, such integration is easily understood because of the many advantages that crypto currencies present in this universe.
#1
Appropriate methods
| Currencies: Naira, EURO, USD |
| The essentials:
Visa, MasterCard, Neteller, Payeer, ecoPayz |
| Specific:
LigdiCash |
| Others:
Qiwi, Sticpay, Perfect Money |
| Cryptos:
30+ cryptocurrencies including Bitcoin, Monero, Dash, Ethereum... |
The right resources
| Currencies: NGN, dollar, EURO |
| The essentials:
Skrill, Bank cards |
| Specific:
Jeton, Airtm |
| Others:
Sticpay, Pay Do, Neteller |
| Cryptos:
+9 cryptocurrencies including Bitcoin, Dodecoin, Litecoin, Ethereum... |
All the classics
| Currencies: EURO, dollar |
| The essentials:
Visa, MasterCard, Skrill, Neteller, ecoPayz |
| Specific:
MuchBetter & OrbPay |
| Cryptos:
Transfers via CryptoPay |
Incredible transaction speed
Typically, bets are placed using conventional means including payment cards and bank transfers. Unfortunately, the latter do not allow instant validation of transactions. Whether it's a cash withdrawal or deposit, the bookmaker can take anywhere from 2 days to a week to confirm your transaction.
With bitcoin and other altcoins, processing time is reduced and transactions are executed at high speed. This is because cryptos are fluid assets that benefit from an impressive number of tokens in circulation. Moreover, with blockchain technology, it is easy to transfer bitcoins from point A to point B.
A convenient way to transact
The other advantage of betting with bitcoin is that it offers a great deal of convenience to bettors. There is no need to go to your gaming centre to settle your bets or claim your profits. By staying connected to the bookmaker's platform, you can place your bets and keep track of the odds. This way, you have more freedom to diversify your time and make bets on other sports.
Betting out of sight
The traditional betting system using banking methods notifies your banker of each transaction that debits your account. In addition, the platforms usually request certain data from your bank statements. So by making deposits for your bets, you cannot guarantee your privacy. Crypto assets, on the other hand, protect you from these observations by facilitating all transactions in complete anonymity.
This is possible because bitcoin is a decentralised currency, i.e. independent of financial bodies such as banks. In addition, anonymity is ensured by the wallets that serve as payment media. Wallets are unique and contain no personal information other than your email address.
On the other hand, it is important to remember that the interest of an anonymous bet is multiple:
- Prevents the bookmaker from restricting your profit opportunities;
- Prevents the bookmaker from using your details for commercial purposes;
- Protects against tax return worries.
You can now play your money on La Liga, the Premier League or the Bundesliga behind closed doors.
A low-cost means of transaction
By using digital currencies, punters are assured of lower transaction costs. While deposits used to be subject to costly commissions, cryptos do not share this operation. For the most part, they are free or low-cost, which is a real source of savings for the punter.
A secure means of transaction
Thanks to the blockchain that forms the peer-to-peer operating engine of crypto currencies, all transactions are protected. Indeed, it is a question of a technology which makes it possible to consult all the transactions, which annihilates the risks of fraud.
It is still advisable to be cautious when choosing your betting platforms.
Where to bet with bitcoin in Nigeria?
The Internet is full of several sites that offer sports betting services. The aim here is to select those that integrate digital currencies into their payment system. There is still a long list of sites to choose from, but there are just a few criteria that will help you identify the best ones.
#1
Appropriate methods
| Currencies: Naira, EURO, USD |
| The essentials:
Visa, MasterCard, Neteller, Payeer, ecoPayz |
| Specific:
LigdiCash |
| Others:
Qiwi, Sticpay, Perfect Money |
| Cryptos:
30+ cryptocurrencies including Bitcoin, Monero, Dash, Ethereum... |
The right resources
| Currencies: NGN, dollar, EURO |
| The essentials:
Skrill, Bank cards |
| Specific:
Jeton, Airtm |
| Others:
Sticpay, Pay Do, Neteller |
| Cryptos:
+9 cryptocurrencies including Bitcoin, Dodecoin, Litecoin, Ethereum... |
All the classics
| Currencies: EURO, dollar |
| The essentials:
Visa, MasterCard, Skrill, Neteller, ecoPayz |
| Specific:
MuchBetter & OrbPay |
| Cryptos:
Transfers via CryptoPay |
The bookmaker's approval
It must be said that bitcoin betting is very beneficial. To take advantage of this, you need to check that your bookmaker has the basic approvals to act as a betting site. These include licenses issued by the gambling regulatory bodies. This allows you to avoid the risk of scams.
The geographical competence of the bookmaker in Nigeria
Not all betting sites operate everywhere. Many have general charters or terms of use that specify their territorial jurisdiction. Before choosing a bookmaker, make sure that it is not only operational in your country, but also legal. This last aspect is essential to ensure your safety in the event of any problems.
If you find a site that meets all of these elements, simply create an account or download their mobile app. Link your e-wallet to your member area and enjoy unlimited bets.
Summary:
| The guide to bet | in Nigeria |
| with crypto currencies | is on this page on Kamabet |
