Cryptocurrencies and betting platforms that operate exclusively with these altcoins having been gaining traction for years in the gambling industry. If you’re new to this form of betting, it’s time to explore why that is and look at one platform -called 1xBit- that is taking things to the next level, such that once you try it, you may never go back.
Top Reasons to Use Cryptocurrencies
Perhaps the number one reason people tend to gravitate towards Bitcoins and other altcoins is the anonymity factor. Maintaining ones’ privacy is something that a lot of high rollers want to maintain when entering online gambling spaces, for both comfort and security. In fact, many bettors had given up on sports gambling in online forums once they were forced to provide their banking and personal data.
With cryptocurrencies the only thing that is made public is your digital wallet address, otherwise all transactions and information is kept completely anonymous.
Speed is another reason gamblers love bitcoins. The old-fashioned bank transfer route that an online casino used to use to transfer winnings meant waiting up to several days to see the money deposited in one’s bank account. Now with altcoins, the speed of the deposit is dependent on the network load, which in many cases means transfers can be completed in a matter of seconds. Rarely might it take as long as one hour to get your money.
Freedom of what to do with your winnings is another key reason gamblers love cryptocurrencies. Because as long as you keep your winnings in that format, that anonymity means it is never tracked by a bank or the government or the tax man.
What is 1xBit
1xBit is one of the leading cryptocurrency gambling platforms in the world. It’s a sportsbook, a casino and much more. It is about as player-friendly as can be, aiming to be the fastest, easiest and most comfortable way for bettors to place their bets.
There are 52 supported languages on site and that global reach means they offer sports bettors the chance to wager on way more than the major sports. There are over 1000 sporting events you can bet on and more than 3000 different kinds of slots along with a slew of casino games.
Bettors can use 20 different kinds of cryptocurrencies from the most known ones like Bitcoin, Litecoin and Tron to lesser knowns like Ethereum and Monero.
You can even have multiple kinds of cryptocurrencies in your wallet.
Taking the anonymity ethos to the next level means you don’t need to verify your account or provide any personal data. They also do not charge any fees for withdraws or deposits. But you do have a chance to get rewarded mightily just for using the platform.
Some of those bonuses include a 100% first deposit bonus, a cashback bonus program that gives you bonus points and a VIP Cashback system that gives you up to 11% cashback the more bets you place.
It really is a brave new world for anyone ready to make the leap.