Check out our guide on the best cryptocurrency between Bitcoin and Ethereum for sports betting at Housebets.com.
Sports betting is arguably the most popular aspect of online gambling, but it has only gotten more popular and better thanks to the rise of crypto-powered casinos like Housebets. Before the advent of cryptocurrency, players transacted using traditional currencies (Fiat).
However, the launch of crypto has changed the overall outlook of online sports betting due to the advantages that crypto betting has over fiat money. Unlike fiat transactions, crypto gambling offers anonymity and privacy, meaning you do not need to provide any credit card details or personal details for all transactions.
In addition, the speed of crypto transactions is faster than that of fiat transactions, which is why players prefer sports betting on crypto-powered platforms like Housebets.
However, while crypto gambling is popular amongst people who bet on sports, it is also important to know which of the numerous cryptocurrencies available is best for sports betting.
There are a lot of cryptocurrencies to choose from, but the two most popular are Bitcoin and Ethereum. Bitcoin is the first and biggest cryptocurrency, while Ethereum is the second-largest cryptocurrency by market capitalisation.
In this piece, we will take a look at which one is best for sports betting.
Bitcoin, which is the first cryptocurrency, remains the most popular cryptocurrency and can be found at every crypto-powered casino platform, including Housebets.
Because of its popularity and large user base, Bitcoin is the number one cryptocurrency at every online casino. Aside from its popularity, Bitcoin transactions are also fast and secure, which explains why it will always remain popular.
Availability: One of the advantages Bitcoin has over other cryptocurrencies is availability due to its popularity. Bitcoin is like the universal currency of cryptocurrencies because it is available on every platform.
It was the first cryptocurrency launched and remains the biggest since its launch. It is also found at every crypto-powered casino, including Housebets.
Lower Fees: Unlike Ethereum, Bitcoin’s gas fees are low. It generally has lower transaction fees, particularly for regular on-chain transfers.
Exclusive Bonuses: Many crypto-specific sportsbooks offer higher-value, exclusive bonuses and promotions tailored for Bitcoin users.
Just like Bitcoin, Ethereum is also one of the cryptocurrencies that is accepted at almost all the crypto-powered casinos in the world.
Ethereum is a top pick amongst players because, with layer-2 solutions like Arbitrum and Optimism, gas fees are now more manageable, and transactions are faster. It also has a large liquidity pool for the high rollers.
Strong Security: Although all cryptocurrencies offer security, Ethereum offers an extra layer of security. Ethereum uses a proof-of-stake (Pos) consensus mechanism. Instead of competing to solve problems, people who want to validate transactions must lock up some of their Ethereum (ETH) as a security deposit.
Privacy: Like any other cryptocurrency, Ethereum also offers privacy to the player. However, it has better privacy overall. Ethereum addresses are longer and more complex, consisting of 40 characters in hexadecimal format (letters and numbers), while Bitcoin addresses are shorter and alphanumeric.
Additionally, Ethereum addresses include extra features like encoded data, public keys, and checksums, which contribute to enhanced security and privacy.
Speed
Although Ethereum is not among the coins with the fastest transaction speed, its transaction speed is still faster than Bitcoin's. Ethereum transactions typically confirm within 13 seconds to 5 minutes, depending on network congestion. For Bitcoin, you may need to wait up to 90 minutes or longer, which is far from ideal if you’re looking to place an in-play bet quickly.
It all depends on what you are looking for. For availability, Bitcoin is the best. However, Ethereum is also available on almost all platforms, including Housebets.
Both coins offer security and privacy, but Ethereum offers an extra layer of both. However, in terms of value, Bitcoin is the best, so you might go for the number one cryptocurrency.
Which other cryptocurrency does Housebets accept?
Yes, you can bet on any sport at Housebets, using any cryptocurrency of your choice. All you need to do is fund your account by depositing any of your preferred cryptocurrency into your account.
If you are depositing cryptocurrency, all you need to do is follow these simple steps.
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Placing bets and playing your favourite casino games at Housebets is easy once you know how the payment options work and how you can set up your wallet for crypto transactions.
The use of cryptocurrency as a form of transaction in online gambling has never been more popular.
