Bitedge.com's Top Tips for Using Cryptocurrencies in Online Gambling
News Publisher Sep 18, 2024 11:20
Here are several simple and effective tips for using cryptocurrencies on today’s most trusted iGaming sites with sports betting and casino games.
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Crypto gambling on legally permitted websites is now more popular than ever as people turn to blockchain technology and cryptocurrencies like Bitcoin as a preferred payment method and shift away from fiat currencies and traditional online payment methods, which are less secure.
If you are new to crypto gambling and want to know how to get started, you’ve come to the right place. Here are several simple and effective tips from the official Bitedge.com iGaming review site experts on how to use
Do you have to be an expert to use crypto?
No. To start using cryptocurrency for gambling reasons, you don’t necessarily have to be an expert on the subject. Blockchain technology, tokens, digital wallets, private keys, and coins may sound confusing to begin with, but it doesn’t take long to learn.
In other words, it would help if you get to grips with the basics before you start using cryptocurrency to pay for goods, services, items, products or content.
Using cryptocurrency on licensed and regulated sports betting and casino websites is relatively straightforward. It is just as easy as using Visa, PayPal, Mastercard or Apple Pay to pay for things in fiat currency, such as US/Canadian dollars, Euros or GB Pound Sterling, except you use a crypto wallet and cryptocurrency.
How to start using cryptocurrency
First of all, you need to open a crypto wallet so that you can invest in cryptocurrency. The main types of wallets are Mobile Crypto Wallets, Hardware Wallets, NFT Wallets, Bitcoin Wallets, Blockchain Wallets, Web3 Wallets, Ethereum Wallets, and Defi Wallets.
The experts on Bitedge recommend several trusted crypto trading platforms where you can buy various crypto coins, such as Bitcoin, DogeCoin, Ethereum, Cardano, Tron, Ripple, Tether, and Litecoin. Examples of trusted crypto exchanges include the following:
● Binance
● Coinbase
● Bitfinex
● KuCoin
● Trader Joe
● Kraken
● Crypto.com
● Gemini
● Bittrex
● Stormgain
Hardware crypto wallets are more secure than digital crypto wallets, but digital ones allow you to store your cryptocurrency online via one of these trading platforms. Hard wallets are physical devices that can store crypto.
As soon as you have purchased crypto, you can immediately send it to your chosen crypto wallet simply by entering your wallet address details into the required field and your preferred amount.
You can buy, hold, and sell crypto, and it can also now be used as a payment method at the digital checkout on hundreds of thousands of websites.
For example, many online sports betting and casino websites also accept cryptocurrency as a viable payment method, meaning you can top up your account using your preferred cryptocurrency, withdraw your winnings, and receive those winnings in the form of cryptocurrency.
Top tips for using cryptocurrency on today’s safest and most secure iGaming sites
When using cryptocurrency on today’s safest and most secure iGaming sites, the experts on the official Bitdge.com crypto gambling and review site recommend the following simple and effective tips:
● Always gamble responsibly, even when depositing, playing/betting, and withdrawing in your preferred cryptocurrency
● Set a reasonable spending budget before you deposit
● Use as many safer gambling tools as possible when joining a crypt-accepting online casino or sports betting site. Some operators, for example, allow you to set session time reminders, deposit limits, and win/loss limits, to name a few safer gambling controls
● Only sign up to fully licensed and regulated crypto-accepting iGaming sites like those recommended by the experts on Bitedge.com
● Never gamble with cryptocurrency while tired or intoxicated
● Use stable crypto coins to avoid/reduce volatility
● Remember that using cryptocurrency on legally permitted sites is more secure (higher end-to-end SSL cryptographic encryption). You have higher deposit/withdrawal limits. Crypto offers complete anonymity, and deposits/withdrawals are typically much faster than traditional payment methods
● Always double-check the payment information and the amount is correct before completing the transaction
If you can remember some of these useful tips when you next play on your chosen crypto-accepting iGaming site, you shouldn’t encounter any issues.
Final thoughts
Gambling with cryptocurrency on trusted sites brings many other benefits, not just enhanced security/anonymity, higher deposit/withdrawal limits, and faster transaction processing times.
On most sites that accept cryptocurrency as a viable payment method, you don’t even have to complete the intrusive KYC (Know Your Customer) ID/account verification process. In other words, you don’t have to send in scanned colour copies of your bank/mortgage statements, energy/mobile phone bills, passport or driver’s license.
Therefore, when betting on crypto-accepting iGaming sites, any payments you process on that site cannot be monitored or tracked by any centralized financial institutions or government agencies due to the very decentralized nature of blockchain technology, which is used to facilitate crypto transactions.
On today’s best crypto casinos and crypto sports betting sites, you can look forward to a generous new player welcome bonus when you sign up and plenty of other attractive ongoing promotional offers, bonuses, and free bets as an existing member. The best thing about these bonuses is that they often come with low to medium wagering requirements attached.
Many of the computer-generated games on these sites have provably fair technology (so you can independently verify the true randomness/fairness of the outcomes yourself). They also typically have high/above-average return to player (RTP%) payout rates, and they are supplied by market-leading software providers.
You can count on friendly and professionally trained, 24-hour player support, and you can deposit, play, and withdraw on these sites in any web browser and from any modern PC or mobile device, provided you are of legal age in your country, which is 18 (in most countries), 19 (in a few Canadian provinces) or 21 (in most states in the US).
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