Over the last decade, we have seen an increasing acceptance of cryptocurrencies. Crypto has moved from that currency that was often tagged as fraudulent to a currency that major governments in the world are beginning to endorse by passing welcoming policies in favor of its adoption. Just as crypto has experienced a boom, the same way the betting industry has. There is said to be an overwhelming increase in the number of bettors globally, that different betting companies are sprouting up daily to fill the void.
With the growth recently experienced in the betting industry, more novel practices are being exploited to ensure the ease of betting on these platforms and one of them is crypto betting.
If you are still new to the term, crypto betting basically entails a form of betting where you use cryptocurrencies for placing bets instead of fiat as it has always been. Considering the fact that crypto has become increasingly popular in recent times, more betting platforms are adopting the use of cryptocurrencies for making payments and placing bets.
Why is Crypto Better Than Fiat?
Here are some of the areas where crypto reigns supreme over fiat:
Crypto essentially runs on the concept of decentralization. One of the perks of decentralization is that crypto users tend to have the rare privilege to perform transactions on a reliable network without revealing their identity. This is something that is practically impossible when doing banking transactions with fiat as your KYC details are required to open every bank account. This whole concept of anonymity is one that has seen a lot of enthusiasts trooping into using crypto as it feels as though it gives them freedom.
With decentralization, all transactions run on the blockchain are said to be not subjected under any form of control by any hierarchy. Because there is a very limited order of hierarchy followed with crypto transactions, transactions tend to be processed faster. This way, regardless of whatever country a person is based in, crypto users can send and receive money without bothering about long processing time. This is not the case with fiat transactions that could take as much as a week. This is because there are usually a lot of intermediaries between the sender and receiver. This further explains why withdrawals on most traditional betting platforms that use fiat take as much as five days to be processed.
Low transaction fees
A major issue with processing transactions with fiat is the high charges that are always incurred. The higher the volume of transaction, the higher the charges incurred. This is hardly the case with crypto as users can process a very large volume and be charged less than 1% of the amount, which is almost unnoticeable. This is one major advantage that piqued the interests of people to explore crypto for making payments.Getting Started With Crypto Betting
Now that you are well grounded on what crypto entails and its perks, let's help you with some tips to ease your settling in with crypto betting.
●Do your research
You can never go wrong with enough information. It is very important to read up on contents like this one where crypto betting is discussed to further expand your understanding of it. This is particularly important if you are new to the terrain.
●Buy your preferred crypto
Once you are well grounded after getting sufficient information about crypto, knowing which crypto to buy becomes an easy decision for you to make. Now, you know what crypto to buy, there is a fleet of crypto exchanges out there that you can explore to buy crypto with fiat.
●Find a platform to start your crypto betting journey
It is true that there are very few platforms that allow crypto betting today as it is relatively new. However, one of the very few that are pacesetters in that industry is 1xBit.
●Register and make a deposit
Once you register with that platform, the next leap to take is to make a deposit in crypto which you can use to place bets. For 1xBit, as a new user, you are set up to get as much as 7 BTC in bonuses on your 1-4th deposits. Amazing, right?
●Play and win
Now that you are all set up, explore the gaming options available on that betting platform and play for winnings. For 1xBit, they ensure there is a broad array of markets to bet on, from casino to sports.
More About 1xBit Benefits
As we have already noted earlier, 1xBit is one of the pacesetters when it comes to crypto betting. As a matter of fact, it is one of the very few betting platforms today that only provides cryptocurrencies as means of processing transactions on the platform.
Now let's look further into some of the perks of the platform:
Over 40 cryptocurrencies
As already noted above, 1xBit only focuses on using crypto as means of payment. To make transactions even easier for the users, the platform ensures there are over 40 cryptocurrencies to pick from. It is even more impressive to note that the platform has a habit of constantly updating the available cryptocurrencies to further broaden the options.
Because 1xBit only specializes in using crypto for processing transactions, payouts tend to be processed faster. This is in contrast with what is ideal with most traditional betting platforms where payouts could take as long as a week sometimes to be processed. This is one of the few perks that has attracted a fleet of users into the platform.
Since 1xBit only exploits crypto payment methods, as a user you don't have to be bothered about ridiculous fees whether for deposits or withdrawals. As you may already know this is not the reality with traditional betting platforms where huge transaction fees are charged depending on the volume.
On 1xBit, you are free to keep your identity hidden. The platform understands that not all users would want to reveal their identity to a betting platform and as such exploits a system that favors that. To further reinforce this fact, you are only required to fill in just two details while registering an account: email and password. With this coupled with end-to-end encryption, anonymity is guaranteed.
Welcome Bonus up to 7 BTC
1xBit understands that one thing that appeals to a wide population of bettors is freebies and as a new user the platform gets you started with such a mouthwatering offer. Once you have successfully registered an account with 1xBit, you become eligible to earn as much as 7 BTC on your 1-4th deposits. This bonus offer will particularly come in handy for you as a new user to place bets without necessarily breaking the banks.Conclusion
At this point, we want to believe you are well-grounded on what crypto betting entails and how to get started with it. Sign up with 1xBit today to enjoy crypto betting at its finest.
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