Bitcoin Betting Sites in India

How Does Bitcoin Work?

We know you’re curious about how a cricket betting app Bitcoin works in India. But to know that, you need to know how Bitcoin works in the first place. Remember blockchain? Think of it as a network of independent nodes all over the world.

A blockchain also works as a distributed ledger for all the transactions that take place involving a token. Both the blockchain and the token for Bitcoin is Bitcoin, often stylized as BTC. The Bitcoin blockchain is fairly straightforward. You can only record transactions and mine the tokens.

By “mining”, we’re referring to solving complicated mathematical problems using processing power. The result of solving a “block” or a particular problem is the generation of Bitcoin. The creators of the network capped the total number of Bitcoins to 21 million before it was even functional. Right now, there are over 18 million Bitcoins in circulation.

The thing with blocks is that they keep getting more complex as more tokens are mined. It means the first block and the 21 millionth block will not be the same. Added complexity means more processing power is needed.

As the blockchain uses a “proof of work” consensus method, we’ve seen massive mining firms all over the world. It's simply because the BTC is rewarded to whichever node solves the block first.

If we go by feasibility, you can’t mine any more Bitcoin so the best bet is to buy it with fiat currency. We’ll get to that in a moment.

As for the “distributed ledger” characteristic, every transaction you perform with Bitcoin is listed on the ledger. And it’s public. It means no single person is capable of changing the transaction or intercepting it. Multiple nodes work together to validate it on the blockchain.

Thanks to these features of blockchain technology, cryptocurrencies are currently the safest form of online payment.

Bitcoin Betting Sites in India

Coming to the point of our guide today, how do you bet with Bitcoin? Which betting sites accept Bitcoin? Well, we’ve already shared a list of the best Bitcoin deposit betting site in the beginning. You can pick any of them as they’re all vetted by our experts for reliability.

When you go for betting by Bitcoin, you’re getting multiple benefits over a regular online payment method. The most important one in our opinion is anonymity. Sharing your bank details or credit card numbers with an online betting site can be scary. But when you use Bitcoin betting apps, all you provide is the public address for your crypto wallet.

Another benefit is instant withdrawals. Deposits are largely instant in online betting sites regardless of what payment method you use. But fiat currency withdrawals almost always come with 24 to 48 hours of pending time. Going for betting by Bitcoin, you bring the time down to a few minutes!

At the time of writing this guide, the number of cricket betting app Bitcoin enabled, is very limited. Thankfully, crypto awareness is spreading like wildfire all over the world, including India. We can hope to see more betting site Bitcoin in no time!

How to Get Bitcoin for Betting?

If you’re not familiar with the crypto industry, it’s completely normal to be intimidated by the thought of getting Bitcoin. Where do you find it? No banks surely deal in those, right?

The simple answer is a crypto exchange. These are platforms that deal with cryptocurrencies all over the world. You can use traditional banking channels to buy and sell crypto according to the current market price.

Follow the steps below to get your hands on some BTC tokens before you can bet on sports with Bitcoin.

1. Choose a crypto wallet first. The internet is literally saturated with wallet options. But as a newcomer, you may stick to Coinbase, Metamask, or Trezor. These are the most reputed ones and offer excellent security for your digital assets.
2. Choose a crypto exchange that you can use from India. All the big players like Binance and Coinbase have huge operations in the country and allow you to use INR. The registration process is similar to registering for any other online platform. You provide your information including the email address and get started.
3. The first thing you need to do after your exchange account is ready is connect the crypto wallet. The option should be on the home interface. Once the wallet is connected, you can visit the marketplace and buy the token you need.
4. In this case, we’re buying Bitcoin. It’s safe to assume that Bitcoin is the first token listed across all exchanges. You should also see the current price in INR. Just buy however much you plan to spend on cricket Bitcoin betting. You can even do wallet to wallet transfer skrill to bitcoin if you don’t wish to buy BTC.
5. The great thing is that you don’t have to buy whole BTC tokens anymore as the price has skyrocketed. You can buy as little as 0.00000001 BTC, known as 1 Satoshi.
6. Once the transaction completes, the BTC should show up in your crypto wallet right away.

How to Deposit Bitcoin in Betting Account?

After you get the necessary Bitcoin tokens in your wallet, it’s time to deposit them in your cricket Bitcoin site account. While the process follows the same approach, the path is a little different from other payment methods.

Follow the steps below to get the BTC tokens from your crypto wallet to your betting account.

1. Log in to your sportsbook account. If you’re yet to register in one, do that first. Just choose any of the Bitcoin gambling sites we’ve listed.
2. Visit the banking page. It can also be labeled as a cashier or deposit page.
3. Choose Bitcoin from the list.
4. Enter the amount of BTC you want to deposit and click next.
5. Now, for the actual Bitcoin deposit betting site will give you a wallet address. Or, it can automatically trigger the interface from your crypto wallet. It varies from operator to operator.
6. Send the BTC to the sportsbook’s wallet. The transaction shouldn’t take any more than a few minutes.