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5 Reasons Why You Should Bet Using Bitcoin

by ReadyBetGo Editor

With the introduction of bitcoin, there have been numerous changes to different industries which are utilizing the currency’s positive properties. One such industry is gambling, which has seenReadyBetGo EditorThere are occasions when we here at ReadyBetGo want to bring you interesting facts about the gambling industry  When something catches our eye, we will publish it for your enjoyment. 
  an increase in the number of people who want to bet online using bitcoin.

Below are some reasons why you should consider wagering using bitcoin the next time you want to place a bet.

You Can Bet from Anywhere in the World

There are no limits on where you can bet from with bitcoin. Bitcoin is a borderless digital currency that anyone can use to make payments from anywhere in the world. All you need is an internet connection and a Bitcoin wallet.

Near-Instant Deposits & Withdrawals

The second advantage of using bitcoin is the speed at which you can deposit and make withdrawals. This is because you do not have to wait for a third-party authority like a bank to approve your transactions. Instead, you can use wallets to buy bitcoin, deposit the money in an online betting site that accepts cryptocurrencies and place your bet.

Lower Transaction Fees

The transaction costs of transferring money from bank accounts to online gambling platforms can make a platform attractive or unfriendly to different users. Bitcoin helps to solve this issue by ensuring that you are only charged the network or wallet fees. In this way, you can reduce the costs of betting on your favorite sport.

An Added Layer of Privacy

You need a host of personal and financial information when setting up your accounts on conventional betting platforms. This process, also known as KYC is standard for financial service providers under different regulatory bodies.

Betting with bitcoin at an online crypto casino, you may need only your email address and bitcoin to set up your account. Therefore, this offers more privacy for you. You also don't need to worry about being hacked or compromised, because the less information there is on various websites about you, the better.

Your Bankroll Could Increase in Value Over Time

The bitcoin market has increased significantly in value over time. So you could win some bitcoin right now, and if you store the bitcoin in your crypto wallet, it could have a higher value in the next few years.

In summary, consider betting using bitcoin because of its lower transaction fees, fast transaction time, its added privacy, and, most attractively, its potential to gain value over time. If you can be patient and strategic with it, you will enjoy it as a tool to make that extra money.

As with conventional betting, however, always be careful to protect your passwords and account information, double-check transaction details before sending or withdrawing funds, and be cautious of scammers. Bet responsibly, and enjoy the benefits bitcoin has to offer for betting.

This article was provided by Roselyne Wanjiru, one of Kenya’s leading blockchain consultants, a crypto economist, and a senior writer at Rise Up Media.

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