Crypto Betting: Best Betting Sites that Accept Crypto
You’ve probably heard the term “cryptocurrency,” but what exactly is it, and how does it relate to crypto betting? In this guide, we’ll break down how crypto betting sites work, especially for online cricket betting fans needing to know the basics of how to get started using digital currencies like Bitcoin.
Crypto betting offers a fast, secure, and private way to place bets online, setting it apart from traditional payment methods. We'll cover the pros and cons, explain how crypto cricket betting works, and highlight the best crypto betting sites that accept cryptocurrency in India.
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150% up to $170 on first depositWhat is Crypto?
Crypto is simply a type of digital money, but unlike rupees or dollars, crypto is actually not regulated by any authority or government.
Using blockchain technology, cryptocurrencies are run on a decentralised network to keep it free from any governing body.
It’s fair to say that Bitcoin is the most popular type of cryptocurrency, as this was created in 2009 (it’s creator is known as Satoshi Nakamoto but this is just a pseudonym) and really set the stage for the emergence of other cryptocurrencies.
Ripple, Litecoin, and Ethereum are just a few examples of cryptocurrencies, but cricket betting with Bitcoin is likely to be the simplest.
Crypto and crypto betting in India is becoming as well known as anywhere else in the world, as many gamblers prefer this to credit cards, e-wallets, and bank transfers to be more anonymous and still be able to place bets on cricket.
Safety & Security
As crypto is decentralised, no one is able to control or freeze assets in your accounts. Plus, blockchain technology means that the transaction cannot be changed once finalised, and your identity is much safer due to no personal data being included.
Still, be wary of losing your private key (a code that gives access to your account), phishing scams, and the fact that transactions can’t be stopped or altered if you change your mind.
Withdrawal & Deposit Fees
Crypto and cricket betting works well for players due to the low fees for transactions. These charges for deposits and withdrawals are far lower than that of banks, e-wallets, or credit cards, for instance.
It’s unusual to see any betting site ask for a fee for a cryptocurrency deposit, but don’t be surprised if there is a small fee to withdraw winnings, as this is common for most sites.
Furthermore, be aware that each site will have its own minimum and maximum amounts determined for deposits and withdrawals.
Speed
The quickness of cryptocurrency is yet another attraction for bettors globally, as the deposit or withdrawal can be finalised in minutes. Great when you want to make last minute bets in line with the latest cricket match prediction and cricket odds.
Waiting days for transactions to be completed using crypto is unheard of, so players who value time will be a big fan of this digital payment type.
Anonymity
There are many players who don’t like to give out their name, address, and bank account information to betting websites.
For these people who want to retain their privacy, Bitcoin betting sites are the perfect option, as crypto betting is highly anonymous and doesn’t reveal your identity.
Pros and Cons of Using Crypto at Betting Sites
Like any payment type, there are pros and cons for using crypto. Before you decide to make a crypto cricket bet online here's a look at some advantages and disadvantages:
- Transactions are incredibly fast and fees are low (or none)
- Complete anonymity and privacy
- High-level security due to blockchain technology
- Crypto wallet can be accessed anywhere
- Unpredictability of price, which means the winnings value can be worth less at one point
- Hard to understand for complete betting beginners
- Losing your private key, password, or saved device can mean losing access to your account
How to Deposit and Withdraw
See our above toplist for the best crypto cricket betting sites, but here’s advice for depositing and withdrawing funds.
Tip: Be sure to look for sign-up bonuses for betting websites.
How to Deposit
- Decide which crypto you’d like to use, as despite Bitcoin being the most popular, it isn’t the only choice you’ve got
- Set up a cryptocurrency wallet, such as an app or software on your laptop or phone
- On your preferred cricket betting site, select your chosen cryptocurrency (such as Bitcoin) and they will send you a unique address code for a wallet, which you must copy/paste into your wallet
- Open up your own crypto wallet and send how much you’d like to the betting site
- After the funds have been confirmed, you’ll be able to see the money in the account of the betting website
How to Withdraw
- Visit the withdrawal section of the betting platform
- Choose cryptocurrency and enter the address of your crypto wallet
- After choosing how much you’d like to withdraw, confirm the amount and expect the winnings to be in your cryptocurrency wallet in an hour or two (there may be a small fee attached from the betting site)
Summary
It’s more common than ever to find betting sites that accept crypto and it’s a great idea for Indian punters who want a payment method that’s different from the norm.
The fees are either low or non-existent, the transactions are incredibly fast, and it’s far more anonymous and private than other options like bank transfers or credit cards.
Those new to online betting might find it all a bit confusing and the value of cryptocurrency can fluctuate, but crypto is nevertheless a payment method on the rise for use on cricket betting sites.
FAQs
It’s currently fine to use cryptocurrency as a way to fund online cricket betting and most sites do support a range of crypto.
Crypto cricket betting sites usually take Bitcoin as the favoured option, but Ethereum and Litecoin are also options to consider.
Crypto is considered very safe thanks to blockchain technology, and you will be anonymous when using it.
Cryptocurrency transactions are typically completed in a few minutes, but waiting an hour or two isn’t uncommon for withdrawals depending on the network.
Take a look at our list of betting sites that accept crypto at the top of this page; we regularly update our toplists to give you the best crypto cricket betting experience out there!