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Where To Bet On Cryptocurrency

Graeme

Making a huge impact online, cryptocurrency has seen a boom in recent years, with a digital gold rush for the continually fluctuating currency. Crossing borders internationally, cryptocurrency is basically a form of currency beyond state control, offering anybody the chance to use it regardless of where they’re from. With it being early days still, especially with many new currencies coming and going, we’ll now provide a general break-down of what to expect when placing a bet on the market, and what you can look out for.

Most often the bets themselves will be bi-hourly, meaning that there’s regular bets to be made every few hours. One of the first decentralized digital currencies to come out was Bitcoin in 2009, and this remains one of the most popular. Since then a number of other currencies have seen growth online, including Doge Coin and Ethereum to name a few, with countless rising and falling. Secured through the use of Blockchain technology, it creates a timestamp and record list, or ‘blocks’, which then link through the use of cryptology.

All this means that it’s never been easier to get involved and invest at the ground level, bringing with it plenty of betting opportunities. What are the best ways to identify them though, and how can you successfully predict where the next market changes are coming from?

Where To Bet Cryptocurrency:

America:

For everyone in North America, they’ll want Bovada when betting on cryptocurrency financial markets.

Canada:

Similar to America, the Canadian counterpart Bodog runs in a similar manner, with the same easy to use layout.

Everywhere Else:

Unfortunately bets internationally in this market are few and far between, although you may have luck with BetOnline, as they continue expanding their financial market betting selection.

What is Cryptocurrency?

Stored in a computer database, a cryptocurrency is essentially digital assets, whereby the money is recorded online. Not using physical form, they typically transfer through a decentralized process, as the system largely opposes central banking in the traditional form. Kept as a publicly available set of financial databases for the most part, a blockchain will usually form and secure a distributed ledger.

Alongside Bitcoin, there’s over 6,000 altcoins available worldwide, with the number continuing to steadily grow. Here’s a general overall look at the cryptocurrencies as they currently stand, although this is subject to change as time goes on:

  • Bitcoin: Starting out in 2009, this remains the strongest market currently out there, still holding fast at the top of the cryptocurrency pack.
  • Ethereum: Generated online through the digital mining of Ether, it’s provided for anyone securing the blockchain, making it increasingly stable.
  • EOS/XRP/Other: Many of these are mostly one year investments, although only time will tell, as EOS does have a chance of growing larger.

Whilst the cryptocurrencies on offer tend to shift and evolve, the general principle behind them all largely remains the same. What should you look for when it comes to betting on the crypto markets themselves then, and how can you easily identify the winning signs?

Common Cryptocurrency Questions:

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What does betting on Cryptocurrency entail exactly?:

Most of the bets will focus on whether certain currencies will be either up or down, essentially creating a simulated stock-exchange of sorts. Based on a bi-hourly schedule, you’ve got a two hour time-frame for each bet usually, and this will see betting on where the market will be at set times. This will typically be using the Eastern Time standard, so you should make sure to schedule your bets around this. Once you manage this you should then best acquaint yourself with each of the currencies themselves that are offered.

What Cryptocurrency and Bitcoin based props are there?:

There’s plenty more specific props surrounding cryptocurrency provided, and what you get all depends upon when you login. Usually they look at which companies will be the first to adopt Bitcoin, including national and international airlines in America. Others look at sports players, and which leagues will pay their players in Bitcoin first, such as the NFL and the NBA. The timing of when you login is all important, as digital and business trends will mostly determine the results given.

How to Bet Cryptocurrency:

Bovada:

You want to first head to the ‘Sports’ tab at the top, followed by ‘All Sports (A-Z)’ below, and then choose ‘Entertainment’ from the drop-down. Using the ‘All Entertainment’ roll-down menu, you can select ‘Business Propositions’, and then ‘Cryptocurrency’ from the next choices. This brings up a variety of cryptocurrency market based bets rolling down the page, allowing you to choose whether certain cryptos will either go up or down, including props further down.
Bodog:

Similar to Bovada, head on over to ‘Sports’, then ‘All Sports (A-Z) and ‘Entertainment’, then open up the ‘All Entertainment’ roll-down to find ‘Cryptocurrencies’ under ‘Business Propositions’. This will then provide all the crypto listed down the page itself, allowing you to choose the ones you want.
BetOnline:

This is very much subject to availability, but start by heading to ‘Sports’, then open up ‘Other Sports’ down the left side, followed by ‘Financials’ underneath. This section will bring up all the financial market related bets, although it’s pretty much focused solely on the Dow Jones.

Cryptocurrency Betting Strategy:

Keeping an eye on the financial market can be a tricky thing when it comes to cryptocurrencies, as fortunes are made and lost in the blink of an eye. Keeping up-to-date with all the trends in the field will help you, including crypto-mining, and seeing in which currencies it’s currently taking off in. For instance, Bitcoin is mostly only profitable to those with professional hardware, but some of the smaller currencies may be seeing a sharp rise in this area.
The window of opportunity is always limited, and you need to be quick when utilizing any market information. Once you have a clearer understanding of which way the winds are prevailing though, you should be able to place a cryptocurrency bet with far more accuracy.

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