Most Used Digital Currencies in Online Sports Betting
Most Used Digital Currencies in Online Sports Betting
The online gambling space is getting disrupted because of the emergence of digital currencies. Now, new terms like bitcoin sports betting and crypto sports betting are permeating the dictionaries of gamblers. The sports betting industry has always been concerned about offering diverse payment options for bettors.
Over time, bookmakers have added various payment methods like e-wallets, credit cards, debit cards, and cryptocurrency. That’s why sports punters are striving to find the best bitcoin sports betting platforms. This article will reveal the most used cryptocurrencies on sports betting platforms.
Highly Utilized Cryptocurrencies for Sports Betting Platforms
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Bitcoin
In the cryptocurrency world, Bitcoin is king. This cryptocurrency is so dominant that even those who have never delved into the crypto space have heard about Bitcoin at least once. Bitcoin was the first cryptocurrency to be created in 2007 and remains the premier blockchain application.
For one, some punters enjoy using Bitcoin because of the speculation surrounding the coin’s value. Bitcoin is also easy to purchase or sell and offers sports bettors the chance for anonymity.
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Bitcoin Cash
Bitcoin Cash is highly similar to Bitcoin, except that it has eight times more storage than Bitcoin’s 1MB infrastructure. Sometimes, when using Bitcoin’s network for transactions, processing could take several hours or days to complete.
However, transactions are completed faster with Bitcoin cash even when the network is highly congested. Also, you won’t get hit with high transfer charges during periods of high traffic on Bitcoin Cash’s network.
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Ethereum
Ethereum is heralded as one of the best cryptos for a sports punter to hold since it allows bettors to try other options. Ethereum’s blockchain allows for the establishment of decentralized sports betting apps. This way, even if you want to explore other options, holding ether will benefit you.
For a long time, Ethereum has been in second place to Bitcoin. However, with the migration of the network to Proof-of-Stake (PoS) and the crypto space’s heavy reliance on Ethereum’s blockchain, it might even surpass Bitcoin. This is a great option for sports punters who like to speculate on ventures apart from sporting events.
Conclusion
The introduction of digital currency into the sports betting sector has normalized the use of terms like bitcoin sports betting. Cryptocurrency is one of the latest additions bookmakers have made to their platforms. The most used cryptocurrencies on sports betting platforms include Bitcoin, Bitcoin Cash, and Ethereum.
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Whistler Blowers, Insiders
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