How To Use Bitcoin At Betting Sites?

bitcoin betting sitesPopularity of Cryptocurrency needs no introduction and over the last couple of years they have made news due to their astronomical valuations. Bitcoin is without doubt the most widely recognized Cryptocurrency with both the terms often used interchangeably. Betting sites in India have been quick to respond to this popularity. While no betting site in India accepted deposits in this digital currency few years back we are seeing major sites embrace them. With real-time money transfers and low fee it is soon becoming one of the preferred payment options in India.

Do Betting Sites In India Accept Bitcoin?

Bitcoin has been one of the latest additions to payment and withdrawal options among betting sites in India. At the moment few betting sites accept this as a payment option but the growing value of Bitcoin and surge in currency mining has encouraged more betting sites to add this to their payment options. In the coming years, we expect more betting sites to have this as a payment and withdrawal option.

Which Betting Sites Accept Bitcoin?

Cryptocurrency and Bitcoins are new phenomena in India and there are still debates around the legality of this digital currency. Hence only a few bookmakers allow their bettors to use it as a transaction medium. Here is the list of major betting sites accepting Bitcoin at the moment –

With Bitcoins hitting an all-time high and the craze for mining we expect to see more bookmakers add Bitcoin as a deposit and withdrawal medium on their betting platforms.

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How to Deposit At Betting Site Using Bitcoin?

To deposit funds using Bitcoin you will first need to have a valid Bitcoin wallet. There are two different types of wallet you can register – Software Wallet and Web Wallet. Once you have registered your wallet the process of transferring funds from your Bitcoin wallet is easy and here are few steps you need to follow –

Steps for depositing money at betting sites using Bitcoin

  1. Start by logging into your account on the bookmaker’s site or mobile app and navigate to the deposit page
  2. Choose Bitcoin from the deposit option available
  3. Enter the amount you wish to deposit in Bitcoin or the minimum amount on your bookmaker’s platform
  4. A transaction ID along with QR Code is generated and you need to past the ID in your wallet or scan the code using your smartphone
  5. Authenticate the transaction though the standard protocols in your wallet and money would be transferred into your bookmakers’ account in real-time.

How to Withdraw From a Betting Site Using Bitcoin?

Withdrawing your winning amount into your Bitcoin wallet is as easy as depositing it. Simply visit the withdrawal page in your bookmaker’s site or app and choose your Bitcoin to process the withdrawal. Next you will need to choose the amount you wish to transfer to your Bitcoin wallet and fill in your unique transaction ID number along with your Bitcoin wallet client details and your Bitcoin address. Click ‘Confirm’ on and the winning amount should reflect in your Bitcoin wallet within 48 hours.

Is Bitcoin Safe Payment Method for Betting Sites?

Bitcoin is one of the most secured payment methods in existence. It doesn’t have the standard run-of-the-mill encryption system. It has a specialized encryption system called blockchain. As the name suggests this encryption system involves several blocks (volunteers) to encrypt transactions and this prevents breach in the system. If you follow the standard safety protocols Bitcoins is the safest money transfer platforms in the world.

What Are The Advantages Of Bitcoin For Depositing At Betting Sites?

Bitcoin has earned huge popularity and loyalty over the last couple of years and has several things working for it. The fact that one doesn’t need to have a bank account to transact in this digital currency makes it stand out. Here are some advantages for bettors using Bitcoin on betting sites in India –

  • Fast and convenient payments
  • Real-time transfers
  • High security and privacy policy
  • Anonymous transfers

Summary

To conclude, Bitcoin is among the latest payment options to hit the betting scene in India. It would face tough competition from the established card payment systems and digital wallets. With the valuations soaring at an unbelievable rate this might present it a huge advantage on the betting platforms and we expect to see more betting sites add this as a deposit and withdrawal instrument in the near future.

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