Advantages of Betting With Bitcoin

Written by:
B.E.Delmer
Published on:
Jun/05/2022

When it comes to the act of placing a bet, there’s no difference between betting with dollars or BTC. You must still handicap sports games, find overlays, and decide which team will cover against the spread. 

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The act of betting doesn’t change no matter what currency you use. The advantage of betting with Bitcoin have to do with funding your NitroBetting account.   

Top Six Advantages of Betting With Bitcoin 

No transaction fees 

NitroBetting doesn’t charge transaction fees. When you deposit via a credit card or wire transfer, and when you withdrawl via wire transfer, you must pay fees. 

The reason there are no transaction fees is because Bitcoin is peer-to-peer. There is nobody to charge transaction fees because when you deposit into your Bitcoin sports betting account, you are sending your BTC directly to us.  

Bitcoin is fast 

Have you ever tried to deposit into your sports betting account as quickly as possible so you won’t miss the cut off to make a bet? If you’ve been in this situation and you missed making a bet, no doubt, you kicked yourself.  

Bitcoin must go through multiple confirmations before a transaction finalizes, but the confirmations process happens superfast. Most Bitcoin transactions take around 10 minutes to complete.  

Bitcoin transactions require no identification 

When you make Bitcoin transactions, you mustn’t prove who you are. BTC transactions don’t require you to prove who you are or the other party to prove who they are. 

You send your BTC transaction and that’s it. In traditional financial transactions, both parties must prove who they are before the transaction occurs.  

BTC transactions are irreversible 

Once a BTC transaction happens, it’s irreversible. No government entity, no bank, and no credit card company will reverse the transaction. 

In addition, your credit card company or bank won’t stand in the way of you funding your sports betting account.   

Bitcoin transactions are safer than fiat currency transactions 

Fiat currency is currency backed by a government. So the U.S. dollar is fiat currency. So is the Japanese yen and the euro.  

Fiat currency transactions aren’t as safe as Bitcoin transactions because a third-party, without fail, is always involved. Unless you use cash, a third-party must get involved.  

When you use your credit card, multiple third-parties are involved. When you deposit via wire transfer, again, multiple third-parties are involved.  

BTC transactions are peer-to-peer. That’s a huge advantage to you because you remain anonymous and nobody questions your transactions. 

It’s also safer. Why? It’s safer because the more hands involved, the more third-parties, the more chance a thief can steal your personal information. 

You can utilize Bitcoin and invest in Bitcoin 

mBTC, the unit NitroBetting uses, is a smaller version of a Bitcoin. BTC translates to mBTC and vice versa.  

Bitcoin is great as a utilization tool. You can use it to make bets. But BTC is also an investment. In fact, the United States Government charges you capital gains when you transfer your BTC to dollars, which means even the U.S. Government views Bitcoin as an investment.  

What does this mean? It means that while you are gambling with mBTC, you are also investing in Bitcoin because you automatically convert mBTC to BTC when you withdrawl from your sports betting account.   

- B. Delmer, Gambling911.com

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