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How to Use Cryptocurrency Sports Betting

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The advent of cryptocurrencies revolutionized virtually every industry, including online gambling. Although the cryptos were initially volatile and a reserve for high-risk takers and speculators, they have stabilized and are now trusted for everyday business transactions. For instance, unofficial statistics reveal that about 60% of bitcoin transactions are related to betting. However, what are the advantages and disadvantages of crypto sports betting? How do you bet with crypto? How do you choose the right cryptocurrency bookmaker? Here is everything you need to know about it and the best crypto sport betting bookmakers

Advantages of Bitcoin and Cryptocurrency Sports Betting

  • The anonymity of the user during wallet transfers and account creation among some bookmakers which shelters one from government bans on betting in some countries and some taxes
  • Higher betting limits due to the instability of bitcoin and other cryptocurrencies
  • Fast and easy deposits and withdrawals because it is decentralized cash with no intermediaries
  • Lower fees that are almost negligible as compared to other deposit and withdrawal options
  • Makes it possible for a user to exchange their crypto that may be or will be banned in their country
  • Accessibility of the bookmakers globally by surpassing local gambling laws
  • More significant offers with some sites offering as much as 5 Bitcoins

Disadvantages of Bitcoin and Cryptocurrency Sports Betting

  • Fluctuations in cryptocurrency value mean that the returns depend on not only bet results but also the crypto exchange rate
  • Reliability of the crypto sports betting bookmakers that are relatively new is less than the traditional bookmakers
  • Most bookmakers don’t accept bitcoin, and therefore a user has fewer options to choose from

However, the crypto sports betting industry is rapidly evolving as cryptos become more and more stable, which will reduce the price fluctuations. Nevertheless, if a user is observant enough, they can even make more money from the fluctuations. As more and more bookmakers start accepting crypto, the options will increase, and reliability will become better too.

How to Bet with Cryptocurrency

Even though people think of crypto sports betting as a complicated process, it is as easy as betting with cash. You only have to follow the following three steps:

  1. Find a betting site that accepts cryptocurrency and set up your account
  2. Create an e-wallet for your cryptocurrency on sites like Coinbase and buy crypto
  3. Link your e-wallet to your bookmaker account and transfer cryptocurrency to it which allows you to place bets the usual way

How to Choose the Right Crypto Sports Bookmaker

A quick search will reveal quite a vast number of bookmakers who accept cryptocurrency. However, one may end up having issues with deposits or withdrawals if not careful. The worst scenario is losing the cryptocurrency or being conned. Here are some factors to consider before settling for a bookmaker:

  1. Security

The first is the security of the money. How secure is the site? A company that takes the security of its users’ money will be obvious. Check out their reviews on sites like smartbettingguide.com to establish how secure they are for you. Establish its legitimacy before you think about betting with them.

  1. Banking Options

A site that accepts the kind of cryptocurrency you have is the best choice when it comes to this factor. Bitcoin is the most common cryptocurrency option. However, there is Etherium and many other cryptocurrencies that you can use. Some sites have PayPal, MasterCard, and other bank transfer options.

  1. Bet Markets

Ensure a bookmaker has the bet market you enjoy betting in, or else you may end up betting on sports about which you have no idea—the more varied the markets, the better the bookmaker. The best bookmakers have a vast number of bet markets to allow their users to bet all year round without having to wait for a particular season to begin.

  1. Offers

Finally, the kind of offers available is a good determinant of what to go for when choosing a crypto bookmaker. There are welcome bonuses, deposit bonuses, and many other offers to enjoy when you opt for the right site.

Top 5 Bitcoin Crypto Sports Betting Bookmakers

Nitrogen Sports

One of the perfectly designed betting sites that accept crypto is Nitrogen Sports that offers users convenience and ease of use. Here’s is a quick summary of their pros and cons:

Pros

  • Anonymous account for your ultimate privacy while gambling
  • Wide range of betting markets with up to 25 disciplines
  • A user-friendly mobile version
  • Has the NFL “survivor pool” event
  • High odds

Cons

  • Only accepts Bitcoin

Stake

A neat user interface and variety in markets and cryptocurrency options make Stake.com one of the most popular options available today.

Pros

  • Anonymous needing only a username, password, and an email address
  • Seven cryptocurrencies: BTC, BCH, ETH, LTC, DOGE, TRX and XRP
  • Many bet markets with over 20 disciplines
  • Social betting with an active public chat and ability to make a bet public
  • Perfect mobile version
  • High bets

Cons

  • No welcome bonus
  • Unavailable for punters in the US, Australia, and the Czech Republic

1XBET

You probably have heard about the site that has become increasingly popular over the recent past. It offers many banking options, including cryptocurrency.

Pros

  • Very high odds
  • Many bonuses and promotions
  • Variety of bet markets is huge
  • Many deposit and withdrawal options

Cons

  • Outdated interface

22BET

Another bookmaker that has been rapidly growing internationally is 22BET. Its variety when it comes to betting is the reason behind its popularity.

Pros

  • Wide range of betting markets
  • Has an impressive live betting section
  • High odds
  • The deposits and withdrawals are quick
  • Rapidly growing

Cons

  • It is not as easy to use as some bookmakers

SportsBet

The final bookmaker in the list is SportsBet, which is well known for its excellence from a legal standpoint. Here is a summary of its pros and cons:

Pros

  • Great user experience
  • Wide range of bet markets including eSports betting and water polo
  • Accepts many currencies including BTC, ETH, LTC, SOC, USD, CAD, EUR, INR
  • Variety of payment options

Cons

  • Players from Australia, the US and Estonia cannot use it

Conclusion

Cryptocurrency sports’ betting has changed online gambling by offering enormous advantages for both the punter and the bookmaker. It is an easy way to bet and allows you to enjoy anonymity, higher bet limits, quick deposit, and withdrawals, and lower fees besides other benefits. Nitrogen Sports, Stake.com, 1XBET, 22BET, and SportsBet, are some of the best bitcoin and other crypto sports betting bookmakers.

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Ethereum Price Outlook as the DXY Index Crash Continues

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Cryptocurrency prices remained in an upbeat tone on Thursday as the US dollar index continued its bearish move. Bitcoin, the biggest cryptocurrency in the world, rose to $23,165, the highest level in months. Similarly, Ethereum has risen by more than 4% in the past 24 hours while BNB Coin and XRP surged to $307 and $0.41, respectively. 

US dollar index retreats

Cryptocurrencies have an inverse relationship with the US dollar index. For example, the DXY, which looks at the performance of the greenback vs other currencies, soared to a 20-year high of $115 in 2022. As that happened, cryptocurrencies like Bitcoin plunged during the year.

The foundation of this relationship is the Federal Reserve. In most periods, the US dollar index tends to rise when the Fed is extremely hawkish and vice versa. And it was extremely hawkish in 2022 as it hiked interest rates by more than 400 basis points. 

Therefore, while the Fed has remained hawkish recently, the US dollar has dropped because of what the data is saying. Data published recently showed that America’s inflation is easing. The closely watched consumer price index dropped to 6.5% in December while core inflation fell to 5.7%. 

At the same time, other parts of the economy are showing that the American economy is indeed recoiling. Retail sales dropped sharply in December while many…

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STG Price Soars as Stargate Finance’s Token Forms Double-Top

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Electroneum ETN

STG price surged to a high of $0.7566 this week as interest in DeFi tokens jumped. Stargate Finance’s native token has risen by over 85% from the lowest point in 2022. So, what is Stargate and why is the token soaring?

What is Stargate Finance?

DeFi has emerged as one of the most important areas in the blockchain industry. In fact, with the metaverse and NFTs struggling, it is the only bastion of hope for the sector. While the amount of assets held in DeFi has dropped recently, it is still worth about $70 billion. And DEX protocols like dYdX and Uniswap are handling hundreds of millions of dollars every day.

Stargate Finance is a little-known platform in the DeFi industry. It exists in numerous blockchains like Ethereum, Avalanche, BNB Chain, Arbitrum, and Optimism. Like most cross-chain blockchains, Ethereum is the most dominant player in Stargate, where it has a TVL of more than $102 million.

Stargate Finance is a DeFi protocol that makes it possible for users to stake, farm, and transfer tokens across multiple chains. It describes itself as a fully composable liquidity transport protocol that lives at the heart of the omnichain. 

As such, you can swap tokens on a 1:1 basis and add liquidity to Stargate’s Omnichain protocol and earn stablecoin rewards. Also, liquidity providers can farm their LP tokens in exchange for STG…

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Cronos Price Forms Bearish Divergence as Cryptos Rebounds

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Cronos price has been in a strong recovery in the past few weeks as cryptocurrencies rebound. CRO rose to a high of $0.066, the highest point since December 10. It has soared by more than 18% from the lowest point in 2022. So, what next for the token?

What is Cronos?

Cronos is a blockchain project that was developed by Crypto.com, one of the biggest crypto exchanges in the world. It was previously known as Crypto.com Chain until it rebranded in November 2021. 

Cronos is a smart contract platform that aims to be a better alternative to Ethereum and other networks like Solana and Avalanche. It is also an Ethereum Virtual Machine (EVM), meaning that apps developed in its ecosystem are compatible with Ethereum. 

Cronos has been used to build all types of dApps, including Decentralised Finance (DeFi), Non-Fungible Tokens (NFT), and the metaverse. Some of the most notable DeFi apps in its ecosystem are Tectonic, VVS Finance, Ferro, and MM Finance among others.

The metaverse platforms in the ecosystem are Metaverse Pixels, Cronos Ragdolls, Pampered Pandas, and Crowboys. It has also been used to build NFT collections like Cronos Chimp Club, Crosmonauts, Crocus NFT, and Agora among others.

CRO price crashed in 2022 as other cryptocurrencies plunged. This decline happened as the Fed increased interest rates. The bank hiked interest…

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