Use Cryptocurrency to place Bets online
Cryptocurrency transactions on the internet have skyrocketed in the last few years and now punters can use their cryptocurrencies like Bitcoin, Dogecoin, Ethereum, Litecoin, and Tether to deposit money at online betting sites. Crypto Currency Sportsbooks have become very popular because of the anonymity and security they provide the players along with fast deposits and withdrawals. Cryptocurrency Betting sites are also offering crypto welcome bonuses, bonus codes, and promotions!
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What is Cryptocurrency?
Cryptocurrency is a virtual or digital currency that is created using encrypted algorithms. Cryptocurrency is a purely digital financial transaction that is not affiliated with any bank. Unlike physical money, crypto only exists digitally and is saved in a digital wallet. However, like paper money, cryptocurrency too can be used to purchase goods and services online or make deposits at online betting sites.
Deposit using Crypto on Betting Site
If you are thinking of using Crypto to put in a deposit at the betting site and do not know how to, then we are here to help. We will guide you through the process of buying the crypto to depositing it at your favorite sportsbook in a seamless manner. The first step you need to take is to buy the cryptocurrency of your choice if you don’t already own some.
Where to buy Cryptocurrency in India?
Cryptocurrency can be purchased through a broker or crypto exchanges in India. A Crypto broker is an intermediary or the middleman between the buyer and seller of crypto. A Crypto exchange is an online platform that allows buyers and sellers to trade cryptocurrencies.
Buy crypto through a cryptocurrency exchange
- First you need to set up an account at one of the cryptocurrency exchanges in India
- The sign-up process requires verification of your details and until that is completed, you will be unable to buy crypto.
- Once you upload your credentials such as a passport copy or driving license, the exchange will verify your account
- After verification, you will need to deposit money into your account using either Net Banking or a credit card.
- Once the money is in your account, you are ready to start buying the cryptocurrency of your choice.
- The cryptocurrency is then saved in your digital wallet at the currency exchange.
Buy Cryptocurrency through a broker
- Cryptocurrency can be purchased through a broker online or offline.
- First, you will still need to set up your account for a digital wallet to store the currency.
- Then you can transfer the funds to your broker, and they will transfer the crypto into your account
| WHEN BUYING CRYPTOCURRENCY FOR ONLINE BETTING, IT IS IMPORTANT TO BUY ONLY THOSE THAT ARE ACCEPTABLE AT THE BETTING SITES. THE BEST CRYPTOCURRENCIES FOR DEPOSITING AT ONLINE BETTING SITES ARE BITCOIN, LITECOIN, DOGECOIN AND ETHEREUM |
Depositing Cryptocurrency on Betting sites
Now that you have bought your cryptocurrency, it’s time to deposit it in your betting account.
- Choose a betting site that accepts cryptocurrency and create your account. You can find the best sports betting sites Below.
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- To create an account at an online betting site, you need to fill in your details and mobile number or email to verify your account.
- After your account at the sportsbook is set up, you can go to the payment menu and select “deposit”.
- Choose the cryptocurrency that you want to use and enter the amount.
- The betting site will then give you a link that is to be copied.
- Copy the link and paste it into your digital cryptocurrency wallet.
- Confirm the amount and the money will be deposited instantly in your online betting account.
- You can now place your first bet on the sportsbook!
How to Withdraw Cryptocurrency from Betting Sites
Withdrawing crypto from your sportsbook account is quite easy and convenient too as most betting sites don’t impose a limit on the amount of crypto you can withdraw at one time.
- First, select the “Withdraw” button.
- Choose the currency you need to withdraw to
- Then, open your digital wallet and copy the address.
- Paste the same address in the withdrawal address section provided by the betting site.
- Enter the withdrawal amount and confirm the transaction.
The cryptocurrency will be transferred back into your digital wallet.
Cryptocurrency Welcome Bonuses
An online sportsbook that allows deposits using cryptocurrency even offers huge welcome bonuses. Most of them offer up to a 100% bonus on the first deposit of cryptocurrency and they accept as many as 30 different crypto coins.
Claim your 100% Welcome bonus at these sites
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FAQs
Yes, Cryptocurrency is legal in India as there are no laws at present that have banned it.
Yes, Cryptocurrency can be purchased in India through a cryptocurrency exchange or a broker.
Yes, Online sportsbooks accept as many as 30 different types of cryptocurrencies and even have exclusive welcome bonuses when you deposit with crypto.