Get started with Bitcoin betting
Before, you can only bet on online sportsbooks using fiat money. Tedious and inconvenient, this means you’ll have to link your bank account and go through the troubling process of confirming your identity and complying with bank requirements.
Fortunately, you don’t have to go through these long-winded procedures anymore! With the rise of Bitcoin and other cryptocurrencies, transferring funds from your wallet to a sportsbook is as quick and easy as 1, 2, 3. Aside from fast transactions, they also protect your identity and shield your transaction history.
Find out everything you need to know about betting using Bitcoin and how you can maximise its purpose here at Sportsbet.jp!
What is Bitcoin?
Bitcoin is a digital currency developed in 2009 to create a monetary system where people can transfer money on a peer-to-peer basis. Traditional intermediaries such as banks are no longer necessary to send and receive money. To ensure the security and legitimacy of every transaction, they are processed using cryptography and recorded on a public ledger called the blockchain.
The data uploaded on a blockchain cannot be altered so once it’s transmitted, there’s no changing the amount of Bitcoin you’ve sent or where you’ve sent it. This immutable nature protects the cryptocurrency market from hackers, making it impossible for Bitcoin to be stolen through the blockchain.
Another factor that makes Bitcoin attractive in this modern world is its focus on privacy. Today, banks collect private information from all their clients to make sure that their transactions are legitimate. However, all these data are stored in a central server that can be vulnerable to cyber-attacks.
Not only does this put the funds of the clientele at risk but it also puts them in a vulnerable position with sensitive information such as phone numbers, email addresses and physical addresses exposed to unlawful parties.
Why use Bitcoin?
Bitcoin was created in 2009 by an anonymous person or group under the pseudonym Satoshi Nakamoto as a digital currency used to transact online. However, because of its high volatility, Bitcoin isn’t usually used as a medium of exchange. Instead, people use it as a store of value and invest in it for the long-term.
But that’s not the only way you can put your money to good use. Online casinos and Bitcoin sportsbooks now also accept cryptocurrencies such as Bitcoin, Ethereum and Litecoin to accommodate crypto enthusiasts and allow them to make faster, easier and seamless transactions.
When you use Bitcoin for digital transactions, you’re using it the way it was intended, allowing you to experience its advantages firsthand.
Why bet using Bitcoin?
There are a lot of reasons why Bitcoin is ideal for sports betting. From fast withdrawals to minimal fees and bonuses, plenty of advantages are in store for you by betting with Bitcoin here at Sportsbet.jp.
Below are some of the reasons you should consider when making the shift from fiat to crypto:
Fast deposits and withdrawals
Deposits and withdrawals are instant with Bitcoin. When depositing through the wire or bank transfer, it can take a few moments before you can start playing. With Bitcoin, you don’t have to wait longer than 10 minutes maximum so you can start playing as soon as you receive your money.
The moment your winnings are accounted for in your balance, you can withdraw them immediately and transfer your money into your preferred account. When using card or bank transfers, it can take up to 5 business days before your funds are credited to your account.
Unlike usual banking services, conducting Bitcoin transactions do not require any private information. If you use your credit or debit card in depositing funds into your sports betting account, the transaction will be recorded and will appear on your statement of account. This may not appear attractive to banks and can affect your credit score.
With Bitcoin, you won’t have to worry about any of these issues because no personal information is ever recorded. There’s no statement account that will reveal your deposits and withdrawals. You’ll finally be able to enjoy financial privacy and use your hard-earned money in any way you want when you use Bitcoin.
Traditional banking services incur large fees when you’re moving a huge amount of money. The larger the transaction, the larger the fee. So if you want to cut unnecessary fees, Bitcoin is your best bet. The fees for Bitcoin transactions do not change no matter the size of the transaction.
Here at Sportsbet.jp, deposits and withdrawals with Bitcoin only have a minimal fee. Not only do you save a lot of money by using crypto in sports betting, but you also cut back on time and trouble.
Frequent bonuses and promotions are available exclusively for players with Bitcoin or other cryptocurrencies. Enjoy these when you bet on your favourite sports and teams using cryptocurrency! With prizes that can go as high as 1,500mBTC, there’s plenty of reason to switch to crypto for a faster and better sports betting experience.
Where can you buy Bitcoin?
Gone are the days when you had to be a tech genius before you could purchase Bitcoin. Thanks to crypto becoming more mainstream, there are now a handful of ways for you to buy Bitcoin. Today, you can purchase Bitcoin using fiat money on broker sites, exchange platforms, peer-to-peer marketplaces and finance apps.
The easiest way to buy Bitcoin is through finance apps such as Cash App and PayPal. American users can now buy Bitcoin straight from their mobile phones without the hassle of learning all about the intricacies of Bitcoin.
PayPal lets you buy Bitcoin, Ethereum and Ripple only in a matter of minutes. It sends the funds straight to your PayPal account so you don’t have to transfer it anywhere else if you don’t want to. This way, you can easily access your funds and send it to your online sportsbook account.
The same goes for Cash App. Once you have an account, you can go ahead and buy Bitcoin using your connected bank account or money deposited in your Cash App wallet. Seamless and hassle-free, this lets you buy Bitcoin wherever you want! And the best thing is, you can send it wherever you want right on the app as well. You don’t have to use any other third-party account just to send your funds to where you want. Everything you need for easy transfers is in your app.
You can also purchase coins whenever you want on crypto broker sites. To purchase, you need to have an account and provide identification first. Coinbase and Coinmama are some of the most popular sites available today where you can buy a large number of coins for a minimal fee.
Your coins will be stored in the exchange’s own wallet so you won’t have direct access to it. If you want to take the extra step to ensure the security of your coins, you need to own a hardware wallet where you can keep your coins off the net and away from hackers.
More ideal for traders, exchange sites offer more services compared to broker sites. However, it’s more complex and overwhelming for those who only want to buy Bitcoin and are unfamiliar with trading. Broker sites such as Coinbase usually offer trading platforms where users can place market orders to buy or trade cryptocurrencies.
To buy Bitcoin here, you need to place a buy order and set how much you want in exchange for your fiat on the trading platform. The site will automatically match you with a sell order so you don’t have to manually search for one. Additionally, buying crypto using exchange sites also costs less.
If you want to directly transact with people who are selling their coins, head over to peer-to-peer marketplaces where you’re in full control of the transaction. Paxful and LocalBitcoins are some notable examples of marketplaces for crypto hunters.
To buy crypto in a P2P marketplace, you need to post a buy order and wait for a seller to reach out to you, or you can look for a seller yourself and transact with them directly. Once you’ve both laid down the conditions for the transaction, you can complete the trade on your own terms. If you’re going to buy in a P2P marketplace, you need to have a wallet where the seller can send your purchased coins.
How to deposit using Bitcoin
Now that you have purchased Bitcoin, how do you deposit it to your Sportsbet.jp account? There are two main methods to make a deposit: through the QR code or by the wallet address.
When you head over to the deposit tab, you can find a QR code or a unique address where you can send the funds. If you’re using the QR code, scan this using your wallet’s mobile app and enter the amount you want to deposit. If you’re using the address, copy the unique wallet address and paste it to your wallet app before including the amount to be deposited.
Once the transaction is complete, you’ll be notified through a deposit confirmation notification. Afterwards, you’ll see the funds reflected on your wallet and you’ll be able to place bets!
Others cryptocurrencies you can use in Sportsbet.jp
You can also use other cryptocurrencies aside from Bitcoin in Sportsbet.jp. With five other cryptocurrencies to choose from, you can put your crypto portfolio to use and possibly gain profit from it!
Considered as the second-largest cryptocurrency by market capitalization, Ether is the native coin used in the Ethereum platform as a medium of exchange just like Bitcoin. You can purchase Ether on most of the biggest broker and crypto exchange sites like Binance and OKEx. With Ethereum, you can place your bets on football, soccer and basketball games whenever you want. However, do note that Ethereum requires a different wallet from Bitcoin.
The minimum deposit for ETH is 0.01 while the minimum withdrawal amount is 0.02 ETH.
Litecoin acts as the silver to Bitcoin’s gold. ‘Lighter’ than its gold counterpart, Litecoin transactions has a faster block generation rate than Bitcoin’s. This makes Litecoin a more ideal coin for daily transactions. Since Litecoin transactions are confirmed faster, it’s less prone to price fluctuation. It’s perfect for online purchases, gambling and sports betting. Choose your preferred sports or team and place your bets using LTC here at Sportsbet.jp.
When depositing Litecoin into your account, the minimum amount is 0.1 LTC and the minimum withdrawal amount is 0.2 LTC.
Tether is a stablecoin pegged to the value of the US dollar. Compared to Bitcoin, its price does not fluctuate and remains stable at US$1 because it’s backed by dollar reserves to maintain its steady price. It’s the perfect compromise between fiat and cryptocurrency. If you’re sceptical about Bitcoin’s volatility, then you can purchase Tether and use it to place your bets here.
If you’re depositing Tether into your Sportsbet.jp account, the minimum amount starts at 10 USDT while the minimum amount for withdrawals is 20 USDT.
Created specifically for the entertainment industry, Tron or TRX is a coin that’s been gaining traction since its release in 2017. It’s the coin used in the Tron decentralized operating system where developers and online creators can host their content. Just like Ethereum, Tron is a native coin that can be used as a medium of exchange when transacting online. Here at Sportsbet.jp, you can use it to place bets on your favourite esports teams such as Team Liquid and Astralis.
The minimum deposit amount for TRX is 100 while the minimum withdrawal amount is 200 TRX.
Begin your sports betting experience today
Plenty of winning possibilities are waiting for you here at Sportsbet.jp! Put your Bitcoin and other cryptocurrencies to good use when you deposit them to your account.