The Best Betting Sites that Accept Cryptocurrency
Almost every best bookmaker in India understands the ease and convenience of cryptocurrency payments, so they are actively adding them as payment methods. Check out the list of the best betting sites in India that accept crypto:
What is Crypto Meaning?
Crypto, or cryptocurrency, is a special form of payment, the exchange of which does not need to involve monetary authorities, banks, or governmental organizations. Cryptocurrencies are created using cryptographic methods, the use of which allows users to buy, sell or exchange them securely and anonymously.
Cryptocurrencies can be exchanged for goods and services, making them a full-fledged payment instrument in 2021. Bookmakers understand the growing popularity of cryptocurrencies and are actively introducing payment methods that accept cryptocurrencies to websites and applications. Thus, you can use them for your deposits and withdrawals if you prefer this type of cash. Your cryptocurrency payment will be evaluated as a full-fledged transfer of fiat funds and you will be able to use them for your real money bets.
Advantages and Disadvantages of Payment Method
|Cryptocurrencies have the most complex system of digital information, providing maximum security||It can be difficult for you to get used to cryptocurrency transactions in the early stages (creating an account, buying cryptocurrency).|
|Crypto Payments are anonymous at all levels and are not controlled by Indian government agencies||Cryptocurrency wallets rarely have a customer care number where you can get answers to your questions|
|Cryptocurrency transactions are made instantly worldwide|
|To create a cryptocurrency wallet there is no need to pass KYC verification|
|Most of the best betting sites and apps in India accept cryptocurrency payments|
Is It Legal to Buy and Use Cryptocurrency?
Yes, buying and using cryptocurrencies for your payments to bookmaker sites is perfectly legal. At the same time, due to the peculiarities of transactions with cryptocurrencies, they remain completely anonymous, private, and unavailable for full control, which has a positive effect on the safety of users. From time to time the Indian government discusses the issues of cryptocurrencies and their prohibition, but at the moment no serious measures in this area have been taken and you can use crypto for your transactions.
The Best Betting Apps that Accept Cryptocurrency
If you prefer to bet in apps and use cryptocurrencies for your payments, check out our list of the best betting apps in India that accept crypto. Choose the best one for you and start winning:
What Kinds of Cryptocurrencies Exist?
At the moment, there are a huge number of cryptocurrencies and tokens in the world, which participate in the circulation of goods and services. Bookmakers are actively introducing crypto payments as a way of deposits and withdrawals to improve user convenience. We will tell you about the most popular and most used cryptocurrencies on betting sites.
Bitcoin is the most popular cryptocurrency in the world with the largest capitalization. It was created in 2009 and since then it has grown in value significantly. It is completely decentralized, allowing fast and secure payments around the world without the attention of outsiders.
The second largest and most popular cryptocurrency in the world comes from Russia. Ethereum uses a complex cryptographic scheme, which makes it a secure means of payment. Ethereum is also easy to handle, which is very important in betting.
Tether is a blockchain-based cryptocurrency that relies on an equivalent dollar amount. Thus, Tether is a so-called Stablecoin, which tracks fiat currencies. It is a great choice for those who want to use cryptocurrencies without the risk of losing their own money on the machinations of the crypto market.
Like Tether, USD Coin is a StableCoin that is pegged to the U.S. dollar and runs on Ethereum, Solana, Stellar and other systems. The creator claims that each Coin is pegged to the U.S. dollar and you can exchange your fiat money for it using a smart contract.
Solana is also a decentralized cryptocurrency that is based on blockchain. Now it is an actively gaining popularity cryptocurrency, which has many tokens under it and creates new projects.
How to Buy Cryptocurrency?
You need to have cryptocurrency in your cryptocurrency wallet in order to use it for your deposits on betting sites. There are plenty of opportunities to buy this type of currency in India, as they are absolutely not banned here.
At the moment, there are two main ways to purchase cryptocurrencies:
- You can buy cryptocurrency online. Today, there are many platforms where users can buy, sell or exchange cryptocurrency. You can simply find such a service online, create your e-wallet and purchase cryptocurrency using your bank account or debit/credit card. Once you confirm the transaction, you will receive the cryptocurrency and can use it for your deposits on betting sites.
- You can buy cryptocurrency from other people. If you haven’t found the right cryptocurrency buying service for you, you can buy it from other people. However, you still need to create a cryptocurrency wallet.
New users in the cryptocurrency world are recommended to use the first method because good cryptocurrency exchange sites have a reputation and reviews, which you can study to make sure that they are reliable.
How to Make Deposit Using Cryptocurrency?
The process of deposit with cryptocurrencies is almost no different from the process of replenishing a gaming account with fiat money. We prepared easy instructions for you, so you will not make any mistakes and you can bet for real money.
So, a user from India needs:
- Create and deposit a cryptocurrency wallet. Choose a cryptocurrency wallet suitable for you and create it, then purchase the cryptocurrency.
- Visit the bookmaker’s platform. Choose a site or app from our list of the best betting companies that use cryptocurrency and log in.
- Login to your account. Use your username and password to log in to your personal account.
- Click Deposit. In your personal cabinet, go to the deposit menu.
- Select the cryptocurrency. From the list of available payment systems select a cryptocurrency, with which you want to deposit your game account.
- Confirm the transaction. Decide on the amount of the transaction and click on the confirmation button. You will see a link on the screen, which is the address of the cryptocurrency wallet. Refill it with the amount of your deposit. After that, the money will instantly come to your gaming account and will be available for use.
Safe and Secure Betting with Cryptocurrencies
Cryptocurrency payments have such huge popularity first of all for the highest level of security and anonymity. No one can trace and view the monetary transactions, and they are sent instantly around the world. The main factors that make cryptocurrency such a secure means of payment are:
- Complete anonymity of transactions, as there is no need for KYC verification to create a wallet;
- The most sophisticated encryption system, secured by blockchain-based technologies;
- The system of keys and passwords that you create to access your account guarantees its safety;
- Cryptocurrency wallets do not disclose your information to anyone, including betting sites, because you are sending an anonymous payment;
- Not regulated in any way by monetary or governmental organizations and yet not banned in India.
All this makes cryptocurrencies a great way to make safe, secure, fast, and anonymous payments. A sophisticated cryptographic mesh protects internal codes from any tampering, keeping your cryptocurrencies safe.
Alternatives Payment Methods for Cricket Betting
Cryptocurrency deposits and withdrawals are not suitable for everyone. Some users find it very difficult to understand the world of cryptocurrencies and transactions and understand all the intricacies, despite the fact that it is a very reliable payment method. However, betting sites use many methods of transactions in fiat money, among which we can highlight:
All of them are popular and legal in India and are actively implemented on the vast majority of betting sites in India. You can choose the one that suits you and use it in your betting.
We answered the most frequently asked questions of Indians about cryptocurrency payments on betting sites. Explore them to learn more about this kind of transaction method. Also, feel free to ask your questions on this page!
How to Create a Crypto Wallet for My Transactions on Betting Sites?
It’s very simple. To do this, you need to choose a wallet that suits you online, then go through a quick registration process, set your passwords and start using it. Cryptocurrency wallets exist in the form of applications for Android and iOS mobile devices, which simplifies this process even more. When creating a wallet, you also do not need to go through KYC verification.
How quickly will my Cryptocurrency Payment Reach my Gaming Account Balance?
Instantly, because this is one of the main advantages of cryptocurrency payments. Once you confirm your cryptocurrency transaction, the money will instantly appear in your game account. When you withdraw cryptocurrencies from betting sites, you will receive the crypto immediately after the bookmaker approves your withdrawal request.
Are there any Limits and Restrictions when using Cryptocurrencies on Betting Sites?
Cryptocurrency wallets themselves usually do not have any limits on transaction amounts and they encourage freedom of payment. That said, you may encounter limits set by bookmakers. They are unique for each of them.
Can I Top Up My Cryptocurrency Wallet With Rupees?
Of course, there are many services on the Internet for buying cryptocurrencies with real money in India. You can explore this or that service and buy the cryptocurrency you need in a few simple clicks, because all exchange services are very easy to use.
Mehdi Mckinney, sports journalist, cricket analyst and sports forecaster. Professional bettor.