Betting with bitcoins
I am so excited about the whole thing…
Bitcoin and blockchain technology will change everything in next few years. I was introduced to bitcons, when the price was $10, but I didn’t buy them. I was young and didn’t have the knowledge and I was also maybe to cautious. But years passed and bitcoin raised to $6000 in October 2017. Fortunately, I decided to buy them and started focusing on this kind of investment at the start of the year 2017, when it was still $1,000.
There is no bettor, who can make such a return on investment in one year with proper and safe strategy. And even if there is someone, who can make this, he would need a lot of luck. And luck can not be a factor on the long run.
Bitcoins will raise in next few years, I am so confident in this, that I started to bet with bitcoins. Not only, that bitcoins will raise, if I will make a profit with my sports betting skills, I will create them even more.
Bitcoin can raise up to $100,000 few years and I will be part of this big opportunity. It is the biggest opportunity I ever faced. It is not just my prediction, but from many other great minds:
“Bitcoin is exciting because it shows how cheap it can be. Bitcoin is better than currency in that you don’t have to be physically in the same place and, of course, for large transactions, currency can get pretty inconvenient.” – Bill Gates, co-founder of Microsoft, investor
“Bitcoin is a remarkable cryptographic achievement… The ability to create something which is not duplicable in the digital world has enormous value…Lot’s of people will build businesses on top of that.” – Eric Schmidt, Executive Chairman of Google
“In the long term Bitcoin moves above $500,000 within three years. Bets?” McAfee, founder of anti-virus software (McAfee tweeted on 17 July 2017)
Why crypto (bitcoin) betting?
Because I want to create more bitcoins (crypto) with my bitcoin sports betting and because I am very satisfied with bitcoin bookmakers. What they do, how they do and in which direction they are going.
No country restrictions, no problems with deposits and withdrawals, which are instant, bet anonymously, great bonuses, great odds,…
I don’t gamble. I don’t bet to make profit in one month. For me sports betting is long term investment and because of that I see this as a very good decision.
I will show you the quick steps into the world of bitcoin sports betting.
What is bitcoin?
The first thing you need to understand is, that bitcoin is a digital currency.
You can already pay a lot of things on the internet and also in some stores. People are getting more and more familiar with bitcoins and the currency will be more and more stable.
But of course, we can expect some ups and downs, even some big ups and downs. But if you look at this as long term investment and not focusing on this month profit, than I am confident that you will benefit from it.
Advantages to bet with cryptocurrencies?
PRIVACY – It is possible to send bitcoins without giving any personally identifying information.
FREEDOM – A lot of countries will restrict players, but if you bet with bitcoins everyone is accepted (depends on bookmakers rules) and I don’t know how can your country get information, that you bet.
FREE AND INSTANT PAYMENTS – Withdrawals and deposits are free and instant. This is great!
BETTER BONUSES – Bookmakers will offer better bonuses, because they support bitcoins.
CHEAPER – With all the fees, that you have to pay when using traditional payment methods and everything else, using cryptocurrencies is much cheaper.
THIS IS THE FUTURE – We are still using paper money and coins like in middle age. Digital currency will win on the long run. Things will change dramatically in very short time. Bitcoin is getting more and more valuable every year.
MAKE MORE MONEY – There are projections, that bitcoin will be worth around $100.000 in 2020. If this is only half true, then you can make a lot of money, just by holding bitcoins. If you bet you can make even more money.
Disadvantages?
The only problem with the bitcoin is that this is young currency and it is still not stable – it can go up and down pretty quick, but on the other side, bitcoins are growing up every year. I also believe, that in the future we will not use papers and coins like in the middle ages, but we will use digital currency. Technology is the future and so it is online betting and digital currency.
First step: Buy Bitcoins
You can buy bitcoins on different ways. In my country you can buy them even on gas stations. But let’s focus on how you can buy bitcoins online – here are some very good examples where to buy and on a different way to buy bitcoins:
Wirex is a new visa card, where you can instantly convert and spend your crypto like traditional money. With this you can upload money to the best bookmakers in the world (Pinnacle, Bovada,…) and later spend with Wirex card.
PAXFUL – Peer-to-peer bitcoin trading is becoming more popular all over the world two popular and good options to buy bitcoins. Very interesting thing for a lot of bettors about PAXFUL is that you can buy bitcoins with skrill too. ZERO fees when you only buy bitcoins, because the site will take fees from sellers only.
LOCALBITCOINS – is a Peer-to-peer (P2P) Bitcoin exchange platform. It is a service for buyers and sellers of cryptocurrencies, like Bitcoin, Etherum,… You can buy bitcoins with Paypal, Wire transfer, Westren Union, Webmoney, Cash by mail, Cash (in person).
COINBASE – Users can buy and sell Bitcoins through their bank account, credit card, Paypal, and other methods as well.
CHANGELLY– You can buy Bitcoins using your credit/debit card, Exchange Bitcoin into any other supported cryptocurrency. Exchange fees are only 0.5%.
Second step: You need a wallet
We all need wallets, this is where you will store your bitcoins before you trade them back to fiat money on Coinbase for example.
There are different types of wallets, but the most secure are hardware wallets. I didn’t pay such an attention to this in the past, but there were couple of hacking attacks and I want that my money is safe. Once the bitcoin will raise safety will be more and more important. I recommend:
LEDGER NANO S – Ledger Nano S is a Bitcoin, Ethereum and Altcoins hardware wallet, based on robust safety features for storing cryptographic assets and securing digital payments. It connects to any computer (USB) and embeds a secure OLED display to double-check and confirm each transaction with a single tap on its side buttons.
TREZOR.IO – is a device which allows you to make secure Bitcoin transactions, even when initiated on vulnerable computer. It is very easy to use. Full review is coming.
There is a big difference between bookmakers that accept bitcoins as a payment method and bookmakers, where your account balance is held in bitcoins.
One of the benefits betting with bitcoins is creating new bitcoins. If I start betting with 1 bitcoin and if I can make a profit with sports betting, which is our goal, then I will create more of them. So, I want that my account balance is held in bitcoins.
Example A (payment option = bitcoin, but account balance is held in fiat money US Dollars)
Starting bankroll on January 2017 = $1000
Bankroll on November 2017: $1400 (+40%)
TOTAL PROFIT: +$400
Example B (payment option = bitcoins and account balance is held in bitcoins):
January 2017: 1 BTC = $1000
November 2017: 1 BTC = $8000
Starting bankroll = 1 BTC
Bankroll on November 2017 = 1.4 BTC (+40%)
If I start betting with 1 bitcoin and if I make a profit of 0.4 bitcoins from January to November, then I made 0.4*$8000 = +$3200
My starting investment money was $1000 (1 BTC at that time). If I make +0.4 BTC of profit, then my bankroll in November was 1.4 BTC, but because bitcoin went up, my bankroll at that time is 1.4*$8000=$11.200
I made $10,200 of profit.
TOTAL PROFIT: +$10,200
Here is the list of betting/gambling sites, where your account balance is held with bitcoins:
NITROGENSPORTS
CLOUDBET
SPORTSBET
COINBET24
BETCOIN
BETBTC
mBIT
1XBIT
ONEHASH