Making a payment with crypto – step by step
In the rapidly changing times of our world, it is now more than ever that people should become more familiar with cryptocurrency and making payment with cryptocurrencies in general. It can be a daunting prospect at first but in reality with more time you can begin to grasp the concept quite easily.
There are a number of different cryptocurrency payment methods that people can use to execute crypto sports betting. It’s all about what crypto you have managed to get your hands on whether that be Bitcoin, Litecoin or Ethereum. However, as far as making crypto sports betting payments it will largely depend and vary with regard to the crypto betting platform that you are using. Many wil;l offer a number of different crypto networks to complete your deposits and withdrawals and some will only offer a handful.
At Betastic.com CA we cover all of the available payment methods on these crypto betting sites so that you know exactly what site is offering you payment methods that match your preferences. When it comes to using a crypto betting platform you will need to find one that matches the crypto you have with the right crypto payment network.
Average time of crypto for deposits and payouts
Nobody likes waiting for ages while a crypto deposit or withdrawal clears on a crypto betting website. Most of the time when making a deposit on any crypto sports betting sites you will find that it is a lot quicker than making a withdrawal. This is not always the case but it’s a pretty good general rule of thumb. Crypto betting sites will vary a lot of the time in terms of the processing times for deposits. However, most of these crypto betting sites will have instant deposits for crypto methods.
This will generally vary for making withdrawals on any crypto sports betting sites. You can usually expect to wait anywhere between 3-10 business days. There are some payments and sports betting sites that may be instant for the withdrawals but they are few and far between. It’s better to work on the notion that most payments will take at least 3 business days.
Crypto payment method verification requirements
When it comes to crypto payment verification there are a couple of things to consider when going forward. It largely boils down to what cryptocurrency you are using and what crypto sports betting site you are playing on.
You can come across many different forms of crypto payment verification. You may need to submit a full copy of one of your identification forms to the crypto sports betting site, as well as proof of address. Furthermore, you may also need to have a code sent from your bank to verify your identity as well. It really depends on the crypto and on the crypto sports betting site.
In terms of security verification for a crypto payment method you may also encounter a two-step verification when executing your transaction. You may even have access to a biometric fingerprint scan to complete your deposit or withdrawal on a crypto sports betting site. Like we say, it really all depends on the crypto sports betting site and the crypto. However, for the most part you should find that identity verification is the most common theme throughout, as well as the two-step verification when making deposits and withdrawals.
The history of crypto payments
Where the concept of cryptocurrency is a relatively new idea, the concept of crypto sports betting sites is even newer. Cryptocurrency first made waves with its release in 2009 and since then has been introduced to heaps of different markets and services to be used as an authentic, decentralised payment method.
There are now thousands of different cryptocurrencies to be used as payment methods but not all of them are as successful as some of their competitors. For example, the rise in the value of Bitcoin in previous years has been staggering. Some other cryptos that have done very well (but not nearly as well as Bitcoin) are Ethereum, Litecoin and XRP Ripple. Crypto payments provide an anonymous, decentralised and secure way to make deposits and withdrawals on crypto sports betting sites. The best crypto sports betting sites should offer its users a number of different crypto networks to make deposits with.
Crypto payment method to other providers compared
So, what do crypto payment methods give you that normal payment methods don’t? Well, there are a couple of main points here that we will touch on as to why crypto might just be the better option for you to make your deposits and withdrawals with.
Firstly, there is no doubt that overall, crypto payment transactions happen a lot faster. No matter what crypto betting sites you use, you will generally find that your crypto payments are much more efficient and tend to be instant. Some standard fiat currency payment methods can take anywhere from hours to days to reflect in your website account.
Arguably the best reason to use crypto is anonymity. Cryptocurrency is decentralised which means it is not controlled by any major banks or governments. This allows people to make crypto payments on any crypto betting platform without having to reveal too many details about themselves.
All in all, there is a lot to like about crypto payment methods. This is not to say that your standard Visa or e-wallet payments are bad. However, crypto does outshine these methods in a number of categories should you have the luxury of owning cryptocurrency. Which is why so many people choose to use sports betting cryptocurrency.
Most popular payment methods
At Betastic.com CA we make sure to thoroughly test out each and every payment method that we cover. Our reviews and comparisons are available on our site precisely to allay any fears that our readers might have about the safety of these payment methods. We test them out to make sure the method is safe and secure but also that it is efficient and of a higher quality than average.
We do this by making sure that there are sufficient security protocols in place with these crypto payments. Things like two-step authentication or biometric fingerprints are something we look out for in particular. All in all, we try to cover all the bases to make sure that you know whether these crypto payment methods are safe to use.
Crypto Payment FAQ
Q1: Do all crypto sports betting sites offer crypto payment methods?
As the popularity of crypto payment methods continues to rise, so too does the availability of these methods on sports betting sites in Canada. These days you will find more and more crypto payment methods on these platforms. However, not every online bookmaker will offer its users the option to use these methods for cryptocurrency betting. As such, you should always check out our reviews of these operators to make sure that they offer crypto payments first.
Q2: Are crypto sports betting sites safe to use?
Before you jump into using sports betting cryptocurrency you will want to know that whatever crypto sports betting site you are interested in is safe to use first. That is where we come in. Our reviews cover all the security and licensing aspects of these online bookmakers to make sure they are operating above board and with sufficient security protocols in place.
Q3: Can I claim any crypto sports betting bonuses?
In this age of online bookmakers there are constant battles to attract new users to one site over another. These bookmakers will generally do so by offering lucrative welcome bonuses to new users on the site. But, do these sports betting sites offer specific crypto bonuses? There are many crypto sports betting sites that will offer new users a crypto based welcome bonus and even run standard promotions that are centered around crypto rewards as well. While you won’t find this on every site, there are plenty of opportunities out there for you to cash in on a crypto bonus.
Q4: Are crypto payment methods better than your normal methods?
There are a number of reasons why you might prefer a crypto payment method over a more common payment method. As we mentioned before, the main pulls of a crypto payment method is the anonymity and the speed at which transactions are completed. It really depends on what you prefer in the end but there are certainly strong reasons why you might choose crypto payment methods over a method like an e-wallet or debit/credit card.
Q5: Are crypto payment methods legal in Canada?
Whatever crypto betting website you are using in Canada you won’t need to worry about any legality issues. Sports betting with crypto is completely legal in Canada. You may not always find a sports betting site that offers crypto as an option for your payment methods but should you do so you can rest easy in the knowledge that it is perfectly legal in Canada.
That brings us to the end of our crypto payment methods review. Crypto can certainly seem like a daunting thing at first but once you get to grips with the finer details you will find that it is actually very straightforward. Crypto payment can provide users with more anonymity and efficiency when making their deposits and withdrawals.
Overall, crypto payments are an exciting addition to the world of sports betting as they bring a new dimension to your betting experience. You can always check back with us on the Betastic.com CA website to read more about crypto payments or use our comparison tool to find the sites that offer you the best range of crypto payment methods.
Crypto Payment FAQ
❓What sites offer crypto payment options in Canada?
At Betastic.com CA we want to make sure that you know exactly what sites are offering you the option to use crypto payments. There are so many sites available but we make sure to narrow down the search with our comparison tool to show you what sites allow you to participate in sports betting with crypto.
⭐Are crypto payment methods safe to use?
There is nothing more important than the safety and security of our readers on any sports betting site. That is why we make sure to give you the rundown on the security levels you are likely to find when using crypto payment methods. We want our readers to be able to get to their crypto sports betting as quickly and safely as possible.
💻How do I start using crypto payment methods?
Cryptocurrency betting can be a daunting concept at first but we are here to simplify things for you by explaining how you can get cracking with your crypt payments on sports betting sites. In our betting guides, we give you detailed steps on how to create your account and how best to go about using crypto payment methods.
✍How do I verify my crypto transactions?
There are a few different things to consider when it comes to verifying your crypto payments. Our review of the best crypto sports betting sites in Canada makes sure to cover how you should verify your crypto transactions and what else you might need to keep in mind when doing so.
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