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The Difference Between Cryptocurrencies and Regular Payment Options in Online Betting

By January 28, 2022 No Comments

While it is true that some of the most advanced online betting platforms may offer no deposit bonuses, almost every casino and sportsbook require their clients to deposit in order to put the betting sections to the test. As a result, most online betting enthusiasts always check the deposit and withdrawal section.

Nowadays, iGaming operators are a lot more complex than they were a couple of years ago. Some of them offer standard payment alternatives in every country, whereas others try to provide specific solutions for each jurisdiction. In both cases, online bookmakers and casinos usually feature a wide array of options that include everything from a debit/credit card to digital currencies. 

Although there are many similarities between digital and regular payment alternatives, there are also loads of differences. So, here are some of the things that you should be prepared for before you start betting.

The price of some digital currencies might go up

The first thing that you have to remember about most cryptocurrencies is that their price changes, depending on different things. If you visit Efirbet, you can check these top 13 BTC/ETH bookmakers where you can deposit and withdraw with crypto and read more about some of the best iGaming operators, where you can find loads of alternatives. All of them are easy to use, but what makes them special is that their price might go up after making a deposit. In other words, the amount of money you’ve deposited might increase without doing anything. This means you will have more funds to play with, which is always a plus.

While it is true that using regular currencies might also provide you with this opportunity, usually, this isn’t the case. Of course, some people don’t like the fact that each crypto’s price changes daily because they don’t feel safe using them. That’s the main reason why some of the best betting sites offer several types of payment gateways.

In some cases, the only way to access specific betting products is by making a crypto payment

Despite the advantages of some cryptocurrencies, online bettors prefer using the standard options they’re used to. This probably doesn’t come as a surprise because most punters prefer to stick with the things they know. Needless to say, some of the most advanced cryptocurrency betting platforms available at Efirbet are not happy about it. That’s why they’ve started offering special betting sections or casino games, where people have to make crypto deposits to put them to the test.

Even though some iGaming brands offer an abundance of digital currencies, the option that usually has special privileges is Bitcoin. Besides being the most popular online payment alternative among crypto fans, this is one of the few options that people trust. Some betting brands take full advantage of it and offer things like BTC betting sections and unique slots.

There are situations where people using digital currencies don’t need to verify their identity

One of the things that online bettors have to keep in mind is that the bookmaker/casino will require them to verify their identity. This process is known as KYC, and it requires people to send copies of certain documents, such as their ID cards.

Even though some crypto-betting sites have this condition, others won’t require iGaming fans to do that because they want to allow them to play anonymously. Needless to say, this is not possible on any betting site that only offers regular payment solutions.