Finding a Bitcoin sports betting site you can trust in South Africa is not that easy, seeing as how cryptocurrency has not yet exploded like it has in other markets. This is primarily why we created this Bitcoin gambling sites guide for players looking to use the virtual currency for sports wagering. If you are wondering why so many gamblers pick Bitcoin to gamble online, we’ve got the answers. There’re tons of benefits to BTC betting, such as having anonymous banking transaction and instant deposits and withdrawals. As the most recognised alternative to credit and debit card payments online, players can use their bitcoin to gamble on sports anywhere in the world. We’ve featured a list of Bitcoin sportsbooks that we’ve thoroughly vetted and trust to cater to all your sports betting needs.
Top 5 Bitcoin Sportsbooks South Africa
What is Bitcoin?
Before you go looking for a betting site that accept Bitcoin, you have to understand what is a Bitcoin. Basically, it is a currency just like the Rand but it is not tangible and has no association with any government or state. It is self-governed through a peer-to-peer exchange system that is recorded on the Bitcoin blockchain. Also described as a cryptocurrency, it is encoded by complex computer algorithms that assist in keeping all transactions anonymous.
How does Bitcoin work?
Now that you have a better understanding of what Bitcoin is, you have to create an account before you sign up to any cryptocurrency gambling sites. Here’s a detailed step-by-step rendition of how to create your virtual wallet to perform online deposits:
- Head over to any reputable Bitcoin exchange operators in South Africa to create a Bitcoin wallet. This will be the digital account that allows you to track your spending.
- You will have to fund your wallet with coins. There are several ways that players can own Bitcoins, you can mine it, obtain it from a peer or purchase it from any legal Bitcoin exchange agencies.
- Once you have funds in your account, sign up to a bitcoin sports betting. Search the web for betting sites that accept bitcoin with a generous bonus.
- Complete the registration process by filling in the fields and navigate to the cashier section.
- Deposit Bitcoin into your betting account and confirm the transfer to complete the transaction.
- Funds will be transferred immediately and you can start betting instantly.
Why Gamble at Betting Site that Accept Bitcoin
For players that are still on the fence, we’ve included a list of advantages of using Bitcoin to gamble online. This list features a list of benefits compared to using the Rand to bet on sports games:
- You can use Bitcoin for anonymous sports betting.
- Instant withdrawals and deposits.
- You can use your Bitcoin to bet at any gambling site in the world.
- There’s a string of exclusive Bitcoin bonuses such as reload bonuses for Bitcoin gamblers.
- Bitcoin in itself charges no fees for the services. The only fees that punters may pay are at the discretion of the sportsbook.
Drawbacks of Using Bitcoin Sports Betting Sites
We would be remiss not to explore some of the disadvantages of betting with bitcoin. These shortcomings are not enough to discourage players not to use it, but certainly something to consider before you sign up.
- As already mentioned before, in comparison to credit and debit card betting sites, BTC sportsbook options are quite limited.
- The Bitcoin value is known to fluctuate a lot and you have to consider that before you sign up.
- Players cannot reverse Bitcoin deposits once they have been made. You have to be thorough and include the correct information when making deposits using bitcoin.
Other Deposit Payment Options in SA