Cryptocurrency: A Quick Introduction
Even in today’s advanced technological age, not everyone understands crypto gambling. Most punters prefer using UPI e-wallets like PhonePe or Paytm because they think that cryptocurrency is complicated to use or buying crypto is difficult, expensive, or even illegal.
In fact, none of this is true. Using cryptocurrency is safe, legal, and extremely convenient. To use cryptocurrency, you must first buy some, and then send it to your intended destination.
Cryptocurrency transactions are safe, fast, and completely anonymous - making it an ideal solution for depositing money on a betting site!
However, if you’re new to the world of crypto, it can be a confusing concept to grasp. You might be unsure how to buy and play with crypto. But have no fear - that’s why we are here.
In this comprehensive guide, we will take you through the ins and outs of crypto gambling. By the end of this article, we are confident that you’ll know exactly how to use betting sites with cryptocurrency!
Best Crypto Betting Sites
|Website: www.betwinner.com||Founded: 2018|
|Owner: Marikit Holdings||Headquarters: Limassol, Cyprus|
Betwinner is one of the most recent betting sites to hit the Indian betting market. Betwinner separates themselves from the competition by offering convenient deposit methods for Indian players, combined with a great betting platform and awesome LIVE betting service that allows you to bet on several events at a time. Betwinner is a great choice for Indian players who enjoy live betting!Read full review
|Website: Rabona.com/hi||Founded: 2019|
|Owner: Araxio Development||Headquarters: Cyprus|
|Website: melbet.com||Founded: 2012|
|Owner: Bonnal Ltd||Headquarters: Cyprus|
Melbet is an international betting site that accepts players from every corner of the world, including India!
Indian players will find lots of great features on Melbet: from live cricket betting to teen patti, Melbet gives you access to some of India's favorite games.
They also accept convenient deposit methods such as UPI and Paytm, making it easy for Indian players to transfer money in and out of this betting site.
Melbet Rating: Highly Recommended ⭐Read full review
|Website: librabet.com||Founded: 2018|
|Owner: Araxio Development NV||Headquarters: Nicosia, Cyprus|
LibraBet is an online betting site based on the European island of Cyprus. They mainly excel when it comes to virtual sports and casino games, but LibraBet also has a phenomenal sportsbook. Read on to learn more about LibraBet in India!
Betting Site Rated: Recommended ⭐Read full review
Pros and cons of using cryptocurrency
In this section, we dive into the pros and cons of using crypto betting sites.
Once you are fully aware of how cryptocurrency works and its advantages and disadvantages, you can decide if you want to use it or not.
If you don’t like sharing your personal data online, cryptocurrency is the way to go.
Cryptocurrency gives gamblers a level of utmost privacy.
All transactions made don’t involve a central banking system, and there is no record of the transactions, giving you complete anonymity to make betting-related transactions, without putting your personal information at risk.
❤️ Faster transactions, anytime
You can access your cryptocurrency at any time. While banks may be subject to “banking hours”, crypto works whenever you want it to.
As such, you can deposit, buy, or transfer crypto 24/7.
Since, there is no “middle-man” you are not waiting for approvals from, like in the case of bank transfers, crypto transactions are processed much faster than any other deposit and payment method.
❌ Cryptocurrency is extremely volatile
The crypto market is highly volatile. This means that the price of a crypto unit changes rapidly due to market fluctuations.
High volatility works both ways - you can become a millionaire with crypto, or you can lose money as well.
❌ Difficult concept to understand
Understanding cryptocurrency can be difficult.
You'll feel a bit confused about using it until you properly understand how the blockchain works or how cryptocurrency transactions are recorded.
However, once you start understanding how crypto works, it's a walk in the park.
FAQS ABOUT BETTING SITES WITH CRYPTOCURRENCY
Cryptocurrency is still a fairly new method of payment on betting sites. So, a lot of people wonder about what it is and how it can be used on betting sites. To help you, we have answered the most common questions that we receive from our readers.
💱 What is cryptocurrency?
Basically, cryptocurrency is like any other currency – the only difference is that cryptocurrency exists only online. It is also not distributed by a centralized authority like the Reserve Bank of India making it highly decentralized. No one controls it.
It is created and transferred by the so-called “blockchain technology”, which is simply a ledger that records when and where a crypto transfer was made. Some of the popular cryptocurrencies are Bitcoin (BTC), Dogecoin (DOGE), and Ethereum (ETH).
⚖️ Is cryptocurrency legal in India?
Although it is not the legal tender, like the Indian Rupee which makes it the national currency, crypto is legal in India. People can buy and sell cryptocurrency to their heart’s desire.
💰 Where do I buy cryptocurrency?
Cryptocurrency is generally bought and sold on online platforms, known as cryptocurrency exchanges or wallets. There are many crypto platforms available for Indian players, but we recommend:
💴 Can I buy cryptocurrency with Indian Ruppees?
Yes – you most definitely can buy cryptocurrency with INR on platforms like Bitbns and Binance.
You can also buy cryptocurrency in INR on BC.Game – using the Banxa option for payment.
🔒Is it safe to use cryptocurrency?
Yes, cryptocurrency is known for being a very safe and reliable way to hold and transfer money between different parties.
🏧 How do I deposit money on a crypto betting site?
Depositing crypto on a betting site is actually very simple.
All you need to do is:
Sign up on a betting site that accepts crypto.
Go to the deposit page on the corresponding betting site and select the cryptocurrency deposit option.
Paste the deposit link into your crypto wallet and specify the amount you wish to deposit.
Then the amount will be deducted from your crypto wallet and will be instantly available in your betting account. Simple right?
💵 Is it expensive to buy crypto?
The cost of buying crypto depends on price of the crypto unit and how much or how little you buy. For example, Bitcoin is quite expensive compared to cryptos like Dogecoin, Litecoin, and Ripple.
There are some transaction fees to cover but this is usually around 1%.
😢 What is the biggest downside to using cryptocurrency?
The biggest downside to using cryptocurrency is the rapidly-changing market. This means that their value can go up and down in a matter of minutes! So, you should be aware that the value of the cryptocurrency you buy can fluctuate day by day.
Betting sites that accept cryptocurrency
Before we get into how to buy, deposit, and gamble with cryptocurrency, we need to look at the betting sites in India that accept cryptocurrency.
Cryptocurrency is growing in popularity in India. As such, there are quite a few betting sites that include crypto as a payment method.
Let’s look at six of the most popular/best/largest crypto betting sites in India.
Cryptobetting sites reviewed in 30 seconds
In this section, we give you a summarized analysis of the above crypto betting sites. In each of these “mini-review”, you will find a comprehensive overview of the site, the crypto betting options, bonuses, and what could be improved.
This analysis will help you make the most informed decision about which crypto-betting site is right for you!
Parimatch in 30 seconds
Bonus Up To ₹30,000
150% Deposit Bonus
Parimatch is a light-hearted, fun betting site with a sportsbook that covers all major sports and local Indian tournaments. The website is also available in Hindi, Bengali, Marathi, and Telugu.
What we love about Parimatch:
💛 Large selection of deposit methods, including cryptocurrency
💛 Amazing first time bonus - 150% bonus upto INR 30,000
💛 Excellent mobile app
💛 Good cricket betting experience
What can be improved about Parimatch
❌ Customer support can be improved
❌ Account verification is time consuming
1xBet in 30 seconds
100% Up To ₹26,000
Exclusive Bonus Code: MYBVIP
Established in 2007, 1xBet is a well-established name in the community of sports betting and online gambling that offers a good welcome bonus and a big variety of neat features and functions that can help boost the gambling experience.
What we love about 1x Bet:
✔️ Accepts 10+ cryptocurrencies and other Indian payment methods like UPI, Skrill and PhonePe
✔️ Low minimum deposit: INR100
✔️ Large array of betting promotions
✔️ More than 100 sports to choose from
What could be improved about 1xBet:
❌ Website can be overwhelming and difficult to navigate
❌ Withdrawals are slow and take between 48-72 hours
Betwinner in 30 seconds
Bonus Up To ₹8,000
100% Deposit Bonus
Betwinner differentiates itself from its competitors by providing a great live betting experience and convenient deposit options.
What we love about Betwinner:
💙 Provides great odds and a wide variety of markets
💙 Good selection of sports
💙 Big selection of convenient deposit methods - like Skrill, Neteller, AstroPay, and Cryptocurrency among others.
What can be improved about Betwinner
❌Customer support can be improved
❌ The website cluttered and difficult to navigate
22Bet in 30 seconds
Bonus Up To ₹10,000
100% Deposit Bonus
22Bet is among the most popular betting sites in India - and for good reason - they offer one of the largest selections of sports available.
What we love about 22bet
✔️ Multiple payment methods - 30+ cryptocurrencies accepted together with UPI, Bank transfer, PhonePe.
✔️ Two factor authentication
✔️ 1000+ casino games available and 50+ sports to choose from
✔️ Low minimum deposit of INR175
What could be improved about 22bet
❌ Low odds compared to industry standard
❌ Welcome bonus reserved for sports bettors
❌ Outdated and slow website
BC.Game in 30 seconds
First Deposit Bonus up to 180%
Although a new player in the market, BC.Game is one of India’s trendiest, new-age, 100% crypto-only betting sites.
What we love about BC.Game
💚 90+ cryptocurrencies accepted.
💚 Possible to buy crypto on the site.
💚 Massive casino offerings with 2000+ games.
💚 Energetic online forum where punters can interact with each other.
What could be improved about BC. Game
❌ Few Indian payment methods - only PhonePe is accepted to deposit.
❌ Minimum deposits start from ₹850.
Stake in 30 seconds
200% Welcome Bonus
Similar to BC. Game, Stake.com is a betting site that accepts only cryptocurrencies. The betting site hosts a decent sportsbook and a well-stocked casino.
What we love about Stake.com
✔️ Two-factor authentication to keep your account safe.
✔️ 130+ cryptocurrencies accepted
✔️ Multilingual bookmaker - the site is available in Hindi
✔️ Possibility to buy crypto on the site with Google Pay/Apple Pay/credit cards
What could be improved about Stake.com
❌ Deposits are in USD
❌ No Indian payment methods
Factors to consider when choosing a crypto betting site
Now that you’ve glanced through the review about the best crypto gambling sites, you’re wondering “what do I choose? They all have their pros and cons”, which make it confusing to make the choice.
To help you, we have decided to share with you some tips on how to choose the best crypto-betting site for you.
Some of the factors to consider are:
💰 Variety of Cryptocurrencies accepted
When choosing a crypto betting site, it is necessary that you think about:
The more cryptos the site accepts, the better - because you have more choice on what cryptos to bet with. All sites accept Bitcoin (BTC) and Ethereum (ETH), but if you purchase Litecoin or less popular coin, the bookmaker might not accept it. Hence, it is important to check the variety of cryptos accepted.
How many cryptocurrencies does that site accept?
Does it have your preferred crypto coin?
💳 Possibility to buy crypto on the site
The possibility to purchase crypto from the bookmaker is very important.
It would be an inconvenience if you couldn't buy crypto directly from the site, and had to use a wallet to transfer.
Bookmakers, like BC.Game, allow you to buy crypto currency on the site. This is easy and hassle-free when starting your crypto-betting journey.
💵 Minimum deposit value
Most cryptocurrency gambling sites have high minimum deposits and the values are usually displayed in USD.
Using INR for deposits is not very common.
💵 Payment/Deposit options
This is an important factor. It is necessary that you find out if the site has other payment/deposit options than cryptocurrency.
Think about whether the site accepts Indian payments like UPI, PhonePe or Paytm, which would make it easier and more convenient to buy and deposit cryptocurrency.
💻 Beginner-friendly site
Especially if you are a beginner, using cryptocurrency can be confusing. As such, it is very important to have a user-friendly site.
If the website is too complicated, it can be difficult to navigate. Hence, it is important that you scroll and navigate through the site before signing up to see how easy it is to navigate.
How to buy cryptocurrency in India
Perfect! Now that you've opened an account on a crypto betting site, it's time to buy some cryptocurrency!
Just like other currencies, cryptocurrency can be bought and sold - the only difference is that they exist completely online. Some of the popular cryptocurrencies are Ethereum, Litecoin, and Bitcoin.
To get started on betting with cryptocurrencies, it is essential that you first buy crypto.
So how do you start buying crypto in India? It’s a fairly simple process, and we are going to tell you exactly how to do that in this tutorial.
The first step is open to a cryptocurrency wallet. We recommend you open an account on Binance.
⭐️ If you already have a crypto wallet, you can skip this step and move to the section “how to deposit cryptocurrency below”
Opening a Binance Account
The first thing you need to do is open up a cryptocurrency wallet. A cryptocurrency wallet functions like a bank account - you can send and receive different currencies and store them for later use. You can also see the value of your different cryptocurrencies at all times.
Opening a Binance account takes around 20 minutes (including the verification time). It’s simple and easy.
We recommend verifying your account when you sign up itself.
Now let’s discuss how to open a Binance account.
✔️ Provides both basic and advanced exchange interfaces for crypto trading.
✔️ Supports the INR fiat currency and 345+ cryptocurrencies
✔️ Low standard withdrawal fees of 0.15%-0.1%
✔️ Excellent 24/7 customer support
How to open a Binance account
Navigate to binance.com and click on the “Register” button
Choose your preferred sign-up method. You can sign up with email/phone or with your Gmail or Apple accounts.
When you sign up with email/phone, enter your email address and password, agree to the terms and conditions and click “create personal account”
Enter the 6-digit verification code sent to your registered email address
Once you enter your home page, click on “Verify your account”
Click on “Start now”
Enter your name and date of birth, address and click “continue”
Upload a government-issued ID and click “continue”
Conduct a “Liveness Check” using your current device or mobile phone and click continue and your account will be verified.
After the verification, your Binance account is open and you can start trading with cryptocurrency! ⭐️
Binance verification takes 10-15 minutes.
How to buy cryptocurrency?
After verification, you will find yourself on the Binance dashboard. From here, you can purchase your first cryptocurrency.
We recommend purchasing Bitcoin (BTC) or Ethereum (ETH) as these are the most widely accepted cryptos.
To buy crypto:
Go to your dashboard and click “Buy Crypto”
Change the currency to INR, enter the amount you want to spend in INR, your preferred cryptocurrency and click “Buy”
Choose the payment method and click “confirm”
Choose the vendor from which you want to buy the currency, enter the details and click “Buy” and complete the payment.
How to deposit cryptocurrency in India
Now that you have some crypto, it's time to deposit this into your betting account, so you can start placing bets. To do this, you must select a betting site that accepts cryptocurrency. Although it is a fairly new invention, many betting sites accept cryptocurrency.
One of the best betting sites that use cryptocurrency is BC.Game. On BC.Game, you can deposit in Bitcoin, Ethereum, and other 90+ currencies.
We believe BC.Game is a trendy and highly innovative betting site that is easy for beginner punters to manage. They also provide great welcome bonuses and a well-stocked casino. The best part - you can try out crypto gambling on India’s 100% crypto-only betting site!
Depositing crypto on a betting site
We will now show you the step-by-step process on how to deposit cryptocurrency on a betting site.
We are using BC.Game, as an example, but feel free to try it out with any other betting site.
Follow these steps to deposit money on BC.Game
Log in or create a BC.Game account and click “wallet”
Choose the coin you want to add funds to. We are choosing ETH for this example.
Copy the deposit address.
Open your crypto wallet/exchange and select the same coin, and process the payment.
Start betting with cryptocurrency
Now that you have a betting account that is loaded with cryptocurrency, you’re ready to start betting. How exciting!
You can bet on cricket, football, horse racing, or even play casino games, with cryptocurrency - just like with any other currency.
As we mentioned, a lot of Indian betting sites are starting to accept cryptocurrency. So, you have an endless choice of options to choose from.
How to withdraw cryptocurrency in India
Now you’ve betted with crypto and made some good wins, and want to withdraw the money? But don’t know how - don’t worry, we have got you covered.
Like depositing, withdrawing is simple and fairly straightforward. For this example, let’s look at BC.Game again.
Follow these steps to withdraw money on BC.Game:
Go to your crypto wallet to which you want to send your withdrawal amount.
Select your preferred coin.
Copy the wallet address
Open your BC.Game wallet and select the same coin that you chose in step 2.
Paste the wallet address which you copied in step 3 and enter the amount that you wish to withdraw.
A pop-up window will appear, asking for your withdrawal password/2FA code.
Fill in the required information and click “confirm”
Deposit with crypto
100% Up To ₹26,000
Exclusive Bonus Code: MYBVIP
When should you use cryptocurrency?
Cryptocurrency will be great if you:
✔️ Prefer anonymous transactions
✔️ Enjoy low/zero transaction fees
✔️ Don't mind a high deposit amount
✔️ Like faster, more secure transactions that are available anytime
So, if you've checked all of the above boxes, why not start depositing and using cryptocurrency with 1xBet - another great bookmaker that accepts crypto.
❤️ 1xBet is an amazing bookmaker for cryptocurrency enthusiasts as it provides a well-stocked sportsbook, accepts 30+ cryptocurrencies, and has a large array of betting promotions.