Crypto currencies have been all over the news in recent years, as interest in the possibilities that they offer continues to grow. Give the increased profile of crypto currencies, it is little wonder that there has also been a huge rise in the popularity of crypto betting.
If you’re interested in betting with crypto then you’re in the right place! In this article we’ll tell you how easy it is to place bets using crypto. You’ll also get a few tips on how to put together a winning betting strategy, as well as how to find a good crypto betting site. Anyone looking for an answer to the question, ‘What is crypto betting?’ is in the right place!
So, let’s start with the basics before we go anywhere else. You may well be wondering how this whole crypto thing got started and when. Back in 2009, a group of people decided that they wanted to find a more efficient way of paying for things anonymously online. They came up with the concept of Bitcoin, which is still around today and filling plenty of headlines in the financial news pages.
Crypto works in a pretty complex way but all you really need to know is that cryptocurrencies are a form of decentralised, digital payment that is intended to provide competition to traditional currencies that are backed by the national banks of countries. Every crypto transaction is recorded in a digital ledger. This is stored on a network of computers. This is so that if there is a transaction that is only showing up on one copy of the ledger it can be marked for attention. This prevents the ledger from being hacked and altered by nefarious actors.
So, what is crypto betting? It is an easy enough concept to understand now that you know what crypto currencies are. You are simply betting online using crypto currency to fund your account rather than actual money and a payment method such as Visa or PayPal. This can make keeping an eye on your spending easier, and can also improve the security of your online betting transactions. Crypto NFL betting or similar is therefore pretty much the same as online betting using a debit card or ewallet – it’s just that the finding source for your account is slightly different.
There is a growing number of cryptocurrencies that can be used as a payment method at betting sites. Here are some of the many cryptocurrencies that can be used at crypto horse betting sites and crypto sports betting sites in general.
If you want to bet at crypto betting sites, you will need to have a crypto wallet. A crypto wallet is a simply a digital location where you can store your cryptocurrency. Choosing a crypto wallet has become a key part of owning and using crypto currency, so you need to make sure that you choose the right one.
It is therefore important to research crypto wallets carefully before you decide which one to choose. Handily, there is a great selection of advice articles online now to help you with this decision. Don’t rush into making a choice, however. Once you have found a crypto wallet option that suits you, you need to find a crypto betting site. We’ll give you some advice on that next.
Anyone looking for the best crypto betting sites should look out for the following features. If these are all present at a crypto betting site then it’s most likely a good option for you to select.
When you’re putting together a strategy for crypto betting, the same principles hold true as they do for any other kind of betting. Whatever currency you are using to place wagers on sport, the key to success is knowledge, knowledge and more knowledge, as we’ll explain here.
Whatever type of method you are using to fund your betting account, you need to narrow your betting focus down to two or three sports. This will allow you to better evaluate possibilities without spreading yourself too thinly. You should then follow all the news from these sports. It is also a good idea to narrow your focus further to specific competitions or leagues within those sports. This allows you to build up your knowledge to an expert level, making it simpler to spot good value when betting with crypto.
The most useful way of boosting your chances of success when wagering at a crypto betting site is to make sure your knowledge of your chosen sports is detailed and extensive. You need to follow specialist news websites and social media to pick up as many useful nuggets of knowledge as possible. News such as player injuries, transfer stories and coaches’ complaints are invaluable for bettors!
When you’re looking for tips to use at boxing betting sites that accept crypto or just crypto betting sites in general, social media is an important tool.
Just because you are crypto gambling it does not mean that maintaining a tight grip on your bankroll ceases to be important. In fact, given the newness of crypto, it is probably even more important that you keep a close eye on your stake size and cumulative losses. Never chase losses by placing even bigger, more reckless bets. Know when to walk away so you can come back refreshed another time and make better decisions to bring success.
When sports betting with crypto, you must always be in a calm frame of mind. Successful betting is all about making the right decisions about things like your stake size, likely outcomes and risk. If you are feeling stressed or in a bad mood, then it becomes difficult to make good decisions that will bring success. Don’t make crypto football betting any harder than it needs to be – it is supposed to be about fun after all!
As you can see, betting with crypto currencies is pretty much the same as betting with other types of payment method. You still need to find the right betting site and have excellent sporting knowledge to succeed. Just make sure you have also picked the right crypto currency for you and you have a good crypto wallet in place!