Top Cryptocurrencies Used By Gamblers For Esports Betting
Esports betting has seen a rise in popularity in the past few years. The gambling industry has always been known for embracing new technology to enhance player convenience to bring
Crypto esports betting is a billion-dollar industry with a lot of potential to grow. It is a new phenomenon that has a lot of gamers excited. With a plethora of gambling platforms tackling crypto betting, it’s expected to become a major online gaming activity. In this digital age, with the incessant need for anonymity, security, and fast withdrawals, crypto betting provides just that.
Some of the most popular betting websites have started using cryptocurrencies, which is a convenient way of making secure transactions. One of the best things about crypto esports betting is that bets can be made anonymously which is great for many people. Another major benefit is the speed of the withdrawals –transactions are speedy which means you can start betting immediately.
Many bookmakers have already adopted digital currency for faster and more secure transactions. In addition, users can partake in betting anonymously without the threat of fraud. The transactions are fast and withdrawals are easy. On BTC365, you can do crypto betting with ease. It’s safe and convenient.
Esports gambling offers games like League of Legends, Dota 2, and CS: GO for betting. It is a new but growing industry of gambling where gamers of all ages can bet on their favorite players, teams, and games. In order to get a better understanding of the trend, read on for a brief explanation of the most popular cryptocurrencies gamblers use for Esports betting.
Bitcoin (BTC): Bitcoin is the most popular cryptocurrency used for esports betting, often because it’s so well-known and there are many sites dedicated to Bitcoin betting. It was founded in 2009 by Satoshi Nakamoto, an unidentified person or group, and has expanded rapidly since then.
It was created to provide instant payments using peer-to-peer electronic technologies. Bitcoin transactions are digitally signed messages that are broadcast to the whole Bitcoin network for verification, similar to how email works. The public may see information about transactions on the ‘blockchain,’ which is a digital ledger.
Bitcoin’s blockchain has a significant impact on the esports betting sector because it provides a secure, verifiable digital ledger of transactions that cannot be tampered with. This allows for complete transparency and anonymity in the online betting industry.
Read more: Bitcoin Gambling Trends for 2022
Litecoin (LTC): Litecoin is also a peer-to-peer cryptocurrency that uses blockchain technology. It was designed using Bitcoin to process a block every 2.5 minutes rather than the 10 minutes required by Bitcoin. As a result, Litecoin can confirm transactions significantly more quickly than Bitcoin. It can confirm and execute transactions more quickly and in a much larger volume.
In terms of gambling, the two currencies are indistinguishable. If you can find a site that accepts LTC as a payment method, you can use it to deposit and withdraw funds from that site. When it comes to adopting Litecoin, there are many benefits, like security, quick transactions speed, and lower costs.
Ethereum (ETH): Ethereum is a decentralized, open-source blockchain that allows users to create smart contracts. The platform’s native cryptocurrency is Ether. Ether is the second most valuable cryptocurrency after Bitcoin in terms of market capitalization.
In the online betting and casino industry, it differs from its main competitor, Bitcoin. It is powered by its token, Ether. It also allows for extremely secure alternative contracts and apps, giving Ethereum a much broader range of applications. It even has its programming language, which adds to the adaptability of the coin.
The biggest benefit of betting with Ethereum is that it allows you to participate in Esports without having to disclose personal information or evidence of identity to the bookmaker. It’s a safe way to bet online, thanks to a lot of encryption that keeps accounts and transactions private from online frauds.
Tether (USDT): Tether (commonly abbreviated as USDT) is a cryptocurrency that runs on the Ethereumblockchain and is backed by tokens issued by Tether Limited, which is controlled by Bitfinex’s owners. Tether is known as a stablecoin since it was created to always be worth $1.00, with $1.00 in reserves for each tether released.
Tether’s reserve mechanism is treated as real money on a 1:1 ratio. This means that the market value of all Tether currencies is always held in real money in a reserve system. This sets it apart from other virtual cryptocurrencies.
The biggest advantage of betting with Tether from an online betting aspect is that it is the most stable crypto asset on the market, meaning its value does not drop when other coins suffer significant losses. On the other hand, when you bet with Tether, your money is encrypted and safe from hackers.
Why bet on Esports with cryptocurrency?
Here are some reasons why…
Crypto EsportsBettings offers you unparalleled security and anonymity.
Our personal information is frequently at risk in today’s digital world. Cyber-attacks are a serious problem, and we should be taking precautions to ensure that our networks are secure. One method to achieve this is to stake our digital assets for betting using cryptocurrency. Blockchain networks’ cryptography will not only help you maintain your anonymity but will also keep your information secured. The information is stored on a digital ledger that is public and transparent.
Crypto offers faster payouts with fewer limitations.
All cryptocurrency transactions are documented on the open-ledger blockchain, which is a digital record of all the transactions, making sure there are no duplications. This means you can deposit funds to your account or withdraw your payout instantly. Transactions take just a few seconds, which is a lot quicker than traditional banking services that can take days to process. To start your transaction, all you have to do is click the deposit or withdrawal button. There are no banks involved. Thus, there are fewer limitations. On BTC365, you can enjoy blazing-fast deposits and withdrawals at zero withdrawal charges. Hence, it’s easier to take out your winning amount any time you want.
With digital currency on the rise, it’s evident that cryptocurrency is becoming more of an accepted form of payment for gambling platforms and bettors alike. If you’re interested in cryptocurrency and esports betting, we’re the perfect fit for you. We offer esports betting with the above-mentioned cryptocurrencies on BTC365. Our platform is internationally licensed by E-Gambling Montenegro. Every month, we cover over 35,000 matches and give all players the opportunity to double their betting limits and win 365 days a year. You may take advantage of our lightning-fast deposits and withdrawals with no fees, and withdraw your winnings whenever you want!