In the 21st century, we’re seeing all kinds of innovations and technological advances that would’ve been hard to imagine in former times. One of these advances concerns how we do banking. Gone are the days when everything you needed to do with a bank had to happen in the bank building. Today, most aspects of banking or financial transactions take place electronically.
Even betting which you could only do in the past by visiting a casino or some other physical location has also gone digital or virtual, so to speak. For bettors, online betting is now the thing. But then, crypto betting has also come in with the introduction of crypto currencies as payment options. If you visit top sportsbook sites like CryptoBetting.com, you would be able to bet on your favourite team or sport using cryptocurrency.
Cryptocurrencies
Of course, these days, you can use your regular bank account to make purchases and pay for services online. You can do the same when you engage in online gaming or one form of betting or the other at your favourite betting sites or platforms. However, there’s always concerns about security risks.
Using crypto currencies as your payment option, you are assured of better security and privacy at crypto betting sites compared to regular online betting sites and platforms. State-of-the-art encryption is used to prevent criminals from accessing your crypto wallet details – but even if they could get your wallet details, your actual bank details would still not be available to them.
Ethereum
Ethereum is a digital currency that can be used to pay directly from one online account into another. Like all digital currencies, Ethereum can be used to make payments securely online. In fact, the security of Ethereum transactions is the main thing that makes it stand out among other digital currencies.
Transactions using Ethereum take the form of smart contracts. The parties to the contract specify the details of the service which is being provided, the goods which are being purchased, and the details of the service provider and purchaser. Thereafter, the payment goes through automatically as soon as the specified service has been provided.
When you play at online casinos using Ethereum, you deposit and withdraw units called Ether (or ETH for short). Deposits and withdrawals using ETH aren’t only more secure than regular transactions: they’re also faster.
Drawback
One of the drawbacks of cryptocurrencies like Ethereum is that not all vendors accept them. There are a lot of unregulated ETH and other crypto currency gambling or sports betting sites out there. So, it’s very important to first do your research to find legitimate and trusted crypto betting sites before signing up with them. Read reviews by other users to help you identify which crypto betting sites are the most suited for your needs.
Final Word
With Crypto betting sites, you’ll not only enjoy the benefits of using cryptocurrencies which includes privacy, better security and fast transactions, but you’ll also find great bonuses, promotions and welcome offers, with a wide variety of game selection.