Bitcoin has established a solid rep in the crypto market; that’s goes without question. Which is why the speedy adaption of various industries, businesses and online activities didn’t come as a surprise to many. However, what raises eyebrows, despite having made widely acceptable, is the growing market of Bitcoin betting today.
Bitcoin betting is a popular activity among crypto enthusiasts, yet somehow a lot of misconceptions still get thrown around about the crypto. Negative stigma is still attached to this growing online trend. In this post, we will shed light on common myths associates to bitcoin betting.
Common Myths About Betting With Bitcoin
Bitcoin betting is too expensive
While most people would marvel at the massive price of acquiring a single Bitcoin, gamblers tend to worry about this high value just because. Anyone would be unwilling to put that kind of money on the line, but that’s the reason why betting sites have made it flexible for bettors to afford long-term experience. In Bitcoin-based sites like Nitrogen Sports, you can bet as low as 0.0001 BTC so as not to give away your money in one blow. So no, Bitcoin betting is not at all expensive.
Transactions are lengthy
The beauty of Bitcoin isn’t highlighted by the soaring numbers in online trades and exchanges. Yes, it’s a worthy investment because of the skyrocketing value, but what sets the beat for Bitcoin betting is the efficiency it brings. Since everything is done digitally within a decentralized platform, Bitcoin transactions take less time to finish than regular payment schemes. Deposits and withdrawals to betting sites are done within minutes. Bitcoin payments aren’t called lightning-fast for nothing.
The system is too complex
Unless you’re eyeing on getting hands-on with mining, Bitcoin betting is one of the easiest activities to understand if you’re interested to take part in it. Betting sites have made way easier for bettors to engage just by keeping their wallets in place. If you already have coins in your Bitcoin wallet, all you have to do is to create your own sportsbook account and fund your stash, then let the site run you through the speedy process of placing a bet.
Bitcoin is a dying currency
The emergence of various coins has resulted in a lot of gamblers questioning whether or not Bitcoin is still a worthy currency. Here’s our answer - even if Bitcoin will eventually wear off the Internet, the blockchain technology will still be alive because of the self-sustaining maths and cryptography behind it. The system is so solid that it will live on even when the 21 million coins run out. And besides, major hacks like Mt. Gox have happened, yet Bitcoin is still here. And with various governments and businesses opening up to its use, Bitcoin will still be around for quite some time.
Pushing yourself deeper into the world of Bitcoin isn’t a hard experience when your mindset is clear from these time-wasting misconceptions. Contrary to some claims, Bitcoin betting is a highly acceptable and worthwhile activity that brings in a lot of possibilities for any user.
Nitrogen Sports is one of the first sportsbooks that offer a multi-channel platform in online gambling. Bettors get the opportunity to place their bets on sports, esports and play casino and poker all in one place. But at the forefront of this well-rounded wagering experience is the use of the biggest cryptocurrency in the world, that is bitcoin.
This is the newest addition to the growing landscape of online betting and if you want to learn more, the sportsbook offers an all-encompassing instructional content over at Nitrogen Sports Blog where latest news, updates, matchups, betting lines and bitcoin betting guides are published for free.