eSports Crypto gambling has exploded with the rise of cryptocurrencies. The community of eSports has decided to invest with crypto, Betting world works in the same way as with the use of traditional forms of payment. Nowadays, many bookmakers accept this cryptocurrency as a deposit option.
In this article, we will study the current eSports market of betting with cryptocurrencies. It is easy to guess that the offer of this type of bookmakers will not be found on official platforms or licensed in regulated markets, maybe it is basically because, as a rule, cryptocurrencies and taxes are in different leagues at the moment.
- The most important thing about cryptocurrency eSports Betting:
- Cryptocurrency is an alternative and anonymous payment method
- Cryptocurrencies are subject to price fluctuations.
- Cryptocurrencies are decentralized, not operated by a bank/state.
- Avoid anonymous offers with anonymous bets.
- Betting with crypto introduces additional risk factor into the bets.
But are online cryptocurrency platforms safe?
Some crypto eSports betting sites have balances in cryptocurrency, while others convert this currency into traditional currency when players make a deposit. There are many advantages of using eSports crypto coins while betting compared to normal coins, such as the euro, when you bet online. Further, we have a betting guide with cryptocurrency to know the advantages and what the best cryptocurrency betting houses can offer.
Cryptocurrency bets is nowadays the hottest topics in the eSports betting industry. Cryptocurrency is huge and there are tons of pros as compared to its cons. Let’s list why you should use a betting house that accepts cryptocurrencies, either for the deposit option or for the possibility of playing directly with cryptocurrencies instead of changing the deposit to a government currency.
Close Commissions to Zero
Buying and selling cryptocurrency is cheap nowadays. The commission for the miners has drastically decreased with the arrival of new currencies. Therefore, you should buy any cryptocurrency other than Bitcoin which has a low commission rate. Also, make sure to check out if that particular currency is available for deposit/withdrawal on the bookmaker.
Faster and safer deposits with cryptocurrency
As the majority of the cryptocurrencies have a centralized system, therefore the transactions are super-fast. There are miners all around the world that process your cryptocurrency within minutes. The speed of the transaction varies with the amount you are transferring from one Bitcoin wallet to another. Depositing the money with cryptocurrency is reliable too as the whole system is reliable and you are basically dealing with the person/company yourself with no third parties involved in the process.
Faster and safer withdrawals with cryptocurrency
Similar to what has been explained in the upper section, the withdrawal of the money via cryptocurrency is fast and secured. The withdrawals might get delayed sometimes from the miners that take more or less time to process the request than from the chosen payment system. But rest assured, it is one of the fastest withdrawal methods available on the eSports bookmakers. If you do not have cryptocurrencies you can buy them directly.
The betting houses of cryptocurrencies allow bettors to make a deposit using a normal currency and they are the ones who update the balance in cryptocurrencies directly.
Price fluctuations: cryptocurrency & Co may lose value overnight
In cryptocurrency eSport Betting, you must be aware that these are not traditional currencies. Behind these currencies is neither a bank nor a state. These currencies are subject to massive price fluctuations. These price fluctuations can be an advantage and a disadvantage for you as a betting fan.
If you have generated a betting profit and after that the price increases, this increases your profit significantly. If you have generated a betting profit and shortly before paying the cryptocurrency rate drops by 50%, your balance is only half the value. In order to be able to act meaningfully here, it would, therefore, be important to be able to make statements about the price developments of the cryptocurrencies. Your willingness to take risks decides whether you want to bet on the cryptocurrency horse.
Classic currencies are subject to only minimal price fluctuations. Basically, you can ignore them while betting. Quite different with cryptocurrencies. These are subject to significant price fluctuations and can also easily lose value by 50% from one day to the next so there is a fair share of risk in the eSports market.
Your personal balance is worth half the price in one fell swoop. Therefore, we believe that you should focus exclusively on offers with cryptocurrency if you are one of the risk-taking gamblers.
Cryptocurrency in the eSports market provides an additional risk factor. However, cryptocurrency eSports betting has freed themselves from the dubious chains of the government. If you restrict yourself to reputable bookmakers, as we recommend in this guide, you can easily bet with cryptocurrencies.
Whether you want to add this additional risk factor in your betting activities, you just have to weigh yourself. It is all up to your understanding whether you want to play with cryptocurrency bets or bet with classic real money. Whatever you do, just keep in mind that the crypto market in eSports in blooming and it is the best time to invest in it.