The concept of decentralization with Blockchain inducted techniques was proposed in 2008. However, it began to draw mass attention only the following year when the first virtual currency, Bitcoin made an entrance. Despite numerous apprehensions surrounding it’s utility, value, and security, the coin continued to sell unscathed, giving inspiration for more coins of its kind with time.
As per crypto market capitalization aggregators, there exist over 5,000 cryptocurrencies across more than 20,000 different types of markets today. Bitcoin (BTC) being the first and most known digital asset, all the rest are typically referred to as “altcoins.”
Although different by name and value, each alternative cryptocurrency is founded on the same blockchain framework where it stands free of any institutional authority. The increasing number of altcoins is indicative of the expanding utility of these coins all around.
Cryptocurrency, especially Bitcoin, has assumed roles analogous with traditional currency to a great extent. This includes its debut in the online betting arena, in view of the growing interest of bookies in bitcoin and its increasing acceptance.
The use of Bitcoins for online betting is much easier and safer than one would expect of it. The online betting Bitcoin websites run totally on a blockchain, offering ultimate encryption of personal and transactional details. The security reserved on these sites is extreme given that the operations and decisions made on the servers run on a blockchain, unlike traditional bookmaker servers where all financial agreements are confirmed by humans. This makes every user who holds a copy of the blockchain, a host for the website as well(1).
A Bitcoin bookmaker deposit functions just as any other online transaction modes but with the exception of attaching any personal details of the owner of the wallet to it. Once you are logged into your online betting Bitcoin website, you go for the deposit option and follow the instructions and opt for “Bitcoin” as your mode of payment. Once the process completes, the funds get transferred to your betting account immediately.
The speed of transactions offered by Bitcoin Bookmaker websites is another remarkable advantage over traditional procedures. There also exist Bitcoin betting sites that are open for payments in fiat currency, congregating the best of both platforms.
There are multiple factors when it comes to picking the best Bitcoin Bookmakers. Most Bookmakers do not levy fees on booking deposits made. However, the withdrawal of the same may incur some charges. The best Bitcoin bookmakers do not charge its users for any financial activities on their platforms. The only bitcoin fees that a user would have to pay for online betting bitcoin deposits are for currency conversions and a nominal transaction fee at the time of betting(2).
Though suspicions are high around the ground concept of bitcoin, there are numerous factors that determine their efficiency. Bitcoin bookmakers, besides charging low fees, facilitate quick withdrawals, maintenance of privacy and pave way for making additional money through selling bitcoins for added value on certain exchange websites.
Nonetheless, one has to deal with the consequences of betting through an implausible bookie, as it is impossible to prove fraudulent when dealing in bitcoins. Further maintaining a bitcoin e-wallet alongside an exchange website may go Greek for certain bettors. It demands help and quality research for better comprehension and drawing of benefits.
Stakehunters is a community dedicated to overcoming the roadblocks present in the Bitcoin betting sphere. A platform built for relaying free tips, odds, the best tipsters and advice to its uses across the globe, Stakehunters is on its way to upgrade the general confidence on online betting with Bitcoin bookmakers. Stakehunters is a go-to for every bettor given its deliberately laid out services ranging from tips, sports previews, betting news and guides to top bookmaker ratings, all at one place.
The platform enables one to write one’s own predictions and post tips for free as well as with charges. When posting tips for free, the tipsters allow the other users to open access to their active tips, while the same can be explored on subscription to the services of a paid tipster. Stakehunters is an ultimate guide for people to get introduced and set into the world of betting with ease.
The platform is resourced with a proactive team that is open to user queries 24*7. Here, one can learn from the team, sell one’s own picks, buy from the best tipsters and explore effortlessly from the platform without recurring ads and interferences. The betting guide on the platform features a number of sports that deal with crypto betting, providing information, tips, and advice for users to make informed choices. Since many bookmakers still don’t accept bitcoin payments, users have fewer choices in picking a trusted sportsbook. Stakehunters attempts to resolve these ambiguities and make bitcoin-based betting a smoother road.
The idea of online betting with cryptocurrency is still at its nascent stage and seeks a great level of propagation. However, the pace at which blockchain and bitcoin adoption has been developing leaves very less for imagination about the future that this trend holds in the contemporary world.
Source: Coinfo mania