Payment methods for sports betting have evolved from cash at physical agencies to e-wallets and credit cards at online bookmakers and, more recently, to cryptocurrencies on the most modern betting platforms such as 1xBet. This payment system offers many advantages to users, as transaction fees are lower than those charged by e-wallets, payments are faster, and they can even generate profits regardless of the bets.
Here, you will understand how cryptocurrencies entered the world of sports betting and why so many bettors prefer bookmakers that offer this functionality. This way, you can find another way to earn even more money with your sports bets and maximize your wagers.
Why bookmakers like 1xBet are offering cryptocurrency payments
Amidst the enormous competitiveness of the sports betting industry, with hundreds of bookmakers vying for customers with great promotions, apps, and other attractions, the payment systems offered are still among the main factors in customer choice. After all, a platform that intrinsically involves financial transactions must have means that are convenient for users.
As a result, betting platforms that have cryptocurrencies on their list of accepted payment systems can differentiate themselves and attract a more modern audience that is already accustomed to this financial innovation. Those who are familiar with cryptocurrencies understand why they offer several advantages over some traditional payment methods:
| Advantage | Reasons |
| Instant payments | Decentralized and blockchain-based processing networks allow for instant transactions, which may not occur when payments involve traditional banks and institutions. |
| Privacy | Users’ personal data is not recorded in cryptocurrency payments, as blockchain encryption is extremely advanced. |
| Extra profit potential | Cryptocurrencies undergo radical and constant changes in their prices. Therefore, bettors who hold crypto assets with bookmakers can profit not only from cryptocurrencies but also from an increase in their value. |
| Exclusive promotions | As a way to encourage users to use cryptocurrencies for deposits, many bookmakers offer exclusive promotions for this method, which usually come in the form of an additional percentage added to the deposited amount. |
| Security | Cryptocurrency payments also have high security, precisely because of the advanced encryption of the data involved in the transactions. |
How to choose which cryptocurrency to use for payments at bookmakers
At bookmakers that are accustomed to providing convenience to their customers, such is the case with 1xBet, which even offers a mobile app that can be installed via 1xbet giriş apk, you can find an extensive list of accepted cryptocurrencies. The list includes all the world’s major crypto assets, such as:
- Bitcoin
- Bitcoin Cash
- USD Coin
- Tether
- Ripple
- Litecoin
- Dogecoin
- Ethereum
For those who are already familiar with the subject, there is probably already a preferred cryptocurrency that is used in transactions. However, beginners who want to take advantage of this payment system at bookmakers must choose which cryptocurrency to invest in for betting.
The first step is to analyze market movements. Initially, don’t rely solely on your perception, but rather on websites and social media pages specializing in the subject, which provide forecasts of cryptocurrencies that may rise in value soon. Over time, you will gain a greater understanding of the world of cryptocurrencies and be able to make your own predictions.
It is also worth understanding the difference between stablecoins and traditional cryptocurrencies. This can filter your choice:
- Traditional cryptocurrencies – Their value depends on factors parallel to the traditional financial market, so changes in prices can be more unpredictable, but also much greater.
- Stablecoins – The value of stablecoins is directly linked to the value of traditional currencies. Therefore, they are more predictable. The main example is Tether (USDT), whose value is always equal to the value of the US dollar.
So, stablecoins can be a great idea for those just starting in the world of cryptocurrencies. This is because they move similarly to the traditional financial market while offering the advantages of cryptocurrencies, such as privacy, security, and instant transactions.
Bookmakers also already accept payments directly from cryptocurrency brokers
Cryptocurrency payments are made by sending the cryptos to encrypted and private addresses, provided by both you and the bookmakers. These transactions take place through cryptocurrency wallets.
However, there are also cryptocurrency brokers, which work similarly to e-wallets, allowing the purchase and sale of different crypto assets on the same platform. The most popular in the world today is Binance, which was a pioneer in this area and therefore already has a more complete payment system that can be accepted normally by betting sites.
A recent development among bookmakers is that some of them are now accepting payments directly through these platforms. This simplifies the process and makes it similar to that used for payments from other popular e-wallets. When you select a broker as your deposit method, you will be directed to the platform’s website to complete the transaction. For withdrawals, simply enter your account details.
