In recent years, cryptocurrencies have gained more and more strength throughout the financial and money market; after all, there are several advantages that these digital currencies can bring to you. Advantages range from decentralization to valuation according to supply and demand, functioning as a true investment asset.
They have been inserted in all known markets, so much so that they can now be used in supermarkets and various online shops. Of course, they could not be left out of the sports betting market where they were introduced and adopted by both players and platforms, being available at some of the top online bookmakers nowadays.
With the help of the expert Kate Richardson (profile here), let’s understand better how cryptocurrencies developed until their insertion into the sports betting market in this full article, let’s go.
The history of cryptocurrencies in bookmakers
Cryptocurrencies started their journey with Bitcoin. This currency that was developed by an author who has not yet been fully identified, written on the blockchain model, and completely decentralized was not taken seriously for several years until it had great valuations that made its investors quadruple your investment in a few months.
With the news of new millionaires with one type of digital currency, the market and people opened their eyes to what appeared to be a new type of investment that was not controlled by any government. Bitcoin has since fluctuated a few times, but in general, it has appreciated and remained valued for quite some time.
Other cryptocurrencies were created as a response to the success of Bitcoin and started a journey of insertion in any type of market, be it digital or physical. Currencies such as:
- Ethereum
- Dogecoin
- Litecoin
- Theta
Apart from that, it was also possible to find variations of some of these cryptocurrencies, especially from the Bitcoin, such as the Bitcoin Cash. One of the main characteristics of these digital currencies is their appreciation and devaluation which works very similarly to stock exchanges, which made them real assets.
It didn’t take long for cryptocurrencies to enter the betting scene as a payment method. In fact, several sports betting sites were born to work only with cryptocurrencies by understanding the potential of coins.
Bettors also realized that they could have cryptocurrencies to bet on, and win on two different fronts, both in the bet made and in the appreciation of the purchased cryptocurrency, which supported the sports betting platforms that developed their entire payment system to accept digital currencies.
Bookmakers are still in the process of transitioning until all are able to accept these cryptocurrencies as a payment method. But, apparently, cryptocurrencies are here to stay and will be increasingly inserted into the daily lives of bettors and, in a few years, of everyone around the world.
Advantages of betting with cryptos
Many bettors are still wondering if it is worth betting with cryptocurrency or not, as it is a method that some people are still not familiar with. However, there are a few benefits to it and you should take them into consideration before deciding if you are going to use cryptos or not for your sports betting.
Security
Different from other methods in which you have to insert personal information, such as credit cards or bank transfers, betting with crypto is simple, as you just need to inform the number of your wallet.
That way, the security of your data is higher and you can both deposit and withdraw without worrying.
Investment
Cryptos are not only used as a payment system but also as a type of investment, and it could be a really good option for those who are interested in betting as they could just mix both things.
Bonuses
Although basically all bookies offer promos and bonuses for their bettors, many of them are creating special ones made specifically for those who enjoy cryptocurrencies.
By depositing with a specific crypto, such as Bitcoin, for example, you will receive an amount of bonus money to use in your favorite sports. It is a great way of enjoying, even more, the platform and gaining more extra money.
Final words
Cryptocurrencies are here to stay, they are like an inevitable advance for the routine of the whole society, offering several better solutions than the traditional currency that countries control.
The security implemented in the movement of these cryptocurrencies added to the freedom of use without the control of federal governments is the new formula for success for this type of currency that only tends to grow, especially in the sports betting market.
So, what are you waiting for? If you enjoy cryptos and sports betting, it is time to put the both of them together and increase your winnings.