Betting on Overwatch with Bitcoin and other cryptocurrencies is becoming more and more popular. If you’re not aware of the latest in technology, blockchain (a form of software coding whereby a “chain” is created to prevent duplication and traceability) has been used to create numerous types of intangible crypto currencies, most popular being Bitcoin.
The rise in Bitcoin as a means of payment has led to many betting agencies opening their transactions to accepting and paying out in Bitcoin.
Why bet with Bitcoin?
- No or low transaction fee. Typically when betting with Bitcoin the transaction fee is much lower than other payment methods. The transaction fee could range between zero to 2%. The reason being that the nature of crypto currencies themselves do not require a third party administrator.
- Privacy and Security. The risk is lower than other forms of payment of your personal information being illegally obtained and used for fraudulent purposes. With credit cards and other payment methods your name, address, date of birth and other details need to be provided, and if this is not kept secure your personal information could be hacked. Bitcoin does not have this risk because no personal information is required for the transaction itself.
- Anonymous – Because the transaction itself does not need your personal information, you can remain anonymous.
Which betting agencies accept Bitcoin?
It’s now quite common for betting agencies to accept Bitcoin. The reputable and trustworthy agencies not only accept Bitcoin but other cryptocurrencies such as Bitcoin Cash, Litecoin, Eurtheum, Ripple and many others.
Rather than listing out all the betting agencies that accept Bitcoin, when looking for an agency that accepts bets for Overwatch simply look at their payment methods.
Is there a minimum deposit with Bitcoin?
Most betting agencies will require you to bet with a minimum amount of Bitcoin. Roughly the minimum deposit can vary between 1 – 1.5m Bitcoins (0.001 to 0.0015). The reason for putting a minimum is that it becomes meaningless when betting with very tiny amounts.
Is there anything I should look out for with betting with Bitcoin?
Yes, please be wary about the ability to withdraw in Bitcoin, if that is what you wish or whether to withdraw in another form of payment or currency. Not all betting agencies will pay out in the form that you deposited in.
How do I purchase bitcoin?
It can be a little complicated but there’s a step by step guide here that shows you the process. It mentions buying bitcoin for playing at an online casino but the process is exactly the same for betting online.