The Bitcoin is a currency and, at the same time, a payment method with which we can pay and/or receive money online in an anonymous manner, with low commissions and quickly. As expected, this revolutionary payment method, like many other cryptocurrencies has reached the world of Bitcoin sportsbook betting where they are developing very quickly.

In this article, we will only address the situation of Bitcoin, leaving aside other cryptocurrencies for now. Below are all the bookmakers that use Bitcoin as payment and withdrawal method:

Within the houses that use Bitcoin as a payment method, we distinguish two very different types:

1. Anonymous bookmakers:

In these houses, we are not required to incorporate any private information. In them, we register only with an email and a password, and deposit, Bitocoin Betting and withdraw only with cryptocurrencies. There are no other payment methods available. This is because cryptocurrencies are the only virtual currencies that allow us to operate without revealing our identity.

2. "Standard" bookmakers:

These are the houses of all life, the ones we already know. In them, we can register to facilitate our private data and verifying our identity. These houses have various means of payment, ranging from bank transfers to virtual wallets such as Skrill, Neteller or Paypal. However, to these more traditional options and seeing the rise of cryptocurrencies, they have decided to add Bitcoin. Next, we break down this type of houses and their relationship with Bitcoin.

What happens when depositing Bitcoin in standard betting houses?

The Bitcoin is one of the various deposit and withdrawal options in this type of Bitcoin Sportsbook. However, in our balance, it will never appear as the main currency since, in the standard houses, our balance can only appear in the currency that we have chosen at the time of registering which could be the Dollar or any other local currency.

Let's imagine that our main currency is the Dollar and that we decided to deposit Bitcoin in our account. These will automatically be converted into Dollars with which to bet. Conversely, when we want to withdraw the balance of our user account to the Bitcoin portfolio, the balance in Dollars will be converted to Bitcoin.

This way of proceeding benefits us and hurts us in equal parts, since, on the one hand, every time we change from one currency to another, we lose part of our money due to commissions, although these should not be very high. However, on the other hand, and thanks to this method, we cover ourselves against the high volatility of Bitcoin.

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