The use of digital money such as cryptocurrency to conduct online transactions is increasingly becoming popular. Industries are evolving with the times by accepting this innovative payment method and the online betting market is not left out. 1xbet is one of such betting site that has adopted the use of tokens. In this article, we’ll consider what the usage of cryptocurrency in 1xbet entails.
Cryptocurrencies accepted by 1xbet
1xbet is one of the top sites to gamble with crypto. This is due to the numerous virtual currencies they accept, some of which include:
Bitcoin
Bitcoin is a decentralized digital currency that can be sent and received globally. The usage of Bitcoin on 1xbet offers the following advantages:
- Faster transaction processes
- Privacy and control over personal financial information
- Reduced transaction fees
When depositing with Bitcoin, no charge is imposed. However, you have to make a minimum deposit of one Euro.
To add money to your 1xbet account using Bitcoin, just follow these steps:
- Log into your account or create one if you don’t have
- Look for the deposit section in your account
- Select Bitcoin as the payment method
- Enter the amount you want to deposit
- Copy the unique address or scan the QR code you’re provided with
- Initiate a transfer to that address on your Bitcoin wallet
- Start betting
To cash out:
- Access the withdrawal section
- Choose Bitcoin as your withdrawal method
- Specify the desired amount of withdrawal
- Enter your Bitcoin wallet address
- Verify your identity
- Confirm withdrawal request
- Wait for processing
- Check your wallet to confirm receipt of funds.
Tether
Tether (USDT), a type of cryptocurrency, is the most widely known and used stablecoin. Its coins hold stable at approximately $1 (USD) each. Unlike Bitcoin, you can hold and transfer it without worrying about significant price fluctuations. Hence, it’s perfect for gamblers who want to enjoy the advantages of crypto but at the cost of traditional currency. Depositing and withdrawing from 1xbet using USDT gives you the security of the Blockchain without the potential for price shifts.
To deposit and withdraw funds using tether, just follow the steps outlined for Bitcoin use. But instead of choosing Bitcoin as the payment method, select Tether and you’re good to go.
Terms of use of cryptocurrency in 1xbet
- Withdrawal requests for funds deposited through electronic payment methods such as cryptocurrency can be declined for specific reasons.
- You must place bets with deposited funds before you can take out money. This is to ensure users don’t just simply deposit and retrieve funds without engaging in betting activities.
- The amount you can remove will be determined based on the total value of bets placed using deposited funds.
- Adding money with cryptocurrency then now cashing out with another payment method and vice versa is not recommended.
- You can only get funds using the same payment details you used to deposit.
- If for some reason 1xbet cannot proceed with the crypto transaction, they may offer you an alternative option of bank transfer.
- Deposits and withdrawal using someone else’s e-wallet can be considered fraudulent. This can lead to blocking without prior notification and denial of withdrawal request.
Advantages Of Using Cryptocurrencies For Betting
Here are the major upsides of using cryptocurrency to gamble.
Accessibility
Cryptocurrencies are not bound by borders or exchange rates and are therefore used by people from around the world. It offers a way for individuals living in regions where traditional banking and payment methods may be limited or restricted to participate in online betting activities. Additionally, tokens operate on decentralized networks that are available 24/7. Hence you can bet at any time without being constrained by banking hours or holidays.
Lower fees
Cryptocurrency transactions involve reduced fees compared to traditional financial systems, especially for international transfers. This is because it eliminates the need for intermediaries like banks and payment processors. Currency conversion fees are also avoided. Hence, it is a cost-effective method when betting online. Additionally, it enables microtransactions, allowing users to make very small bets and payments.
Anonymity
Cryptocurrency transactions do not require you to provide personal information. The proceedings are recorded on a Blockchain using alphanumeric addresses. You can therefore conduct transactions without revealing your identity. This lowers the risk of identity theft or fraud associated with betting activities. Being anonymous can be appealing to users who value their privacy and want to keep their betting activities confidential. Digi-money also provides a level of protection for users who may wish to avoid being subject to financial surveillance or government oversight. This is because the operations do not go through traditional financial institutions that may report to authorities.
Conclusion
Now that you know what using cryptocurrencies in 1xbet entails, what’s stopping you from taking advantage of it? Join the bandwagon of enlightened people today. Just ensure to follow the terms and conditions. Happy betting!
