In Kenya, finding a sports betting site that accepts Bitcoin and that you can trust is not easy, considering the fact that the cryptocurrency has not yet taken off in the same way as other markets. This is the main reason why we have put together this guide to bitcoin sportsbooks for players who are interested in using the virtual currency to place their bets. If you are curious as to why so many people are using Bitcoin to gamble, well, there are a number of reasons. First of all, bitcoin is recognized as the best way to gamble online without having to give your personal banking information to the gambling site. In other words, bitcoin allows you to access online sports betting in Kenya while keeping your private information just that - private. And that is a good thing. Because from what I hear, it seems like every online site is just dying to get their hands on your personal banking information.
Top 5 Bitcoin Sportsbooks Kenya
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Bonus
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Claim Now
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200% Bonus
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100% Match
Up to 100€ |
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100% Match
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100% up to €50
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100% Match
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R25 Sign Up Bonus
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100% Match
Up to R3000 |
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What is Bitcoin?
When you start looking for a betting site that accepts bitcoin, the first thing you need to understand is what bitcoin is. Generally speaking, it is similar to a currency like the Rand. However, it is intangible and in no way connected to any government or tribe. It runs on a complex peer-to-peer exchange that is recorded on the bitcoin blockchain. It is an easily revolutionized concept. Also known as a cryptocurrency, bitcoin is encrypted by fancy computer algorithms that ensure all transactions are private. No one knows what you are doing except you and the website you are betting on.
How does Bitcoin work?
Today you need to understand bitcoin. Before you can participate in the virtual currency betting sites, you need to open an account. Here is a step-by-step guide to creating your online wallet for easy deposits at these sites.
- Go to any reputable bitcoin exchange to set up a wallet for your bitcoins. This will be the digital account that allows you to keep track of where your bitcoins are going.
- Funding your wallet with coins is a must. Players have a few options when it comes to acquiring Bitcoins, two of which are mining and getting them from a peer. The most common way, however, is to purchase them from any number of legal bitcoin exchanges.
- Once you have money in your account, register with a sportsbook that uses bitcoin. Look for online betting platforms that not only accept bitcoin, but also offer a hefty bonus.
- Complete the registration process by filling out the required fields. Then go to the Cashier section.
- Transfer Bitcoins to your betting account and ensure the transaction is complete by confirming the transfer.
- The money is sent immediately and you can start betting immediately.
Select a Safe Storage Option
When betting with bitcoin, the most important thing to do is to look for a safe, secure place to park your cryptocurrency. Bitcoin users need to understand that they alone are responsible for their funds, with absolutely no protection from any type of entity like a bank that you might use to keep your money in an account. This makes it essential to find a reliable online sportsbook where you can safely store and use your bitcoins while placing bets.
Betting with bitcoin is becoming increasingly popular, and a number of sportsbooks have begun accepting this digital currency. These crypto betting sites offer secure storage solutions for your currency, and some also offer direct insurance as an added layer of protection. If you prefer to hold your bitcoin less directly, you can also transfer it to your own hot or cold wallet.
What are the benefits of using Bitcoin?
Bitcoin functions as a decentralized digital currency, meaning it's not under any central authority or government control. This offers several advantages, including resistance to censorship and confiscation, and the ability to transact without banking intermediaries.
Unlike traditional financial systems, bitcoin allows for a high degree of anonymity. Users can transact without revealing their identity, which makes it appealing to privacy advocates who are concerned about the kinds of financial surveillance and tracking that we know take place.
In addition, bitcoin transactions are fast and inexpensive. They are fast and economical because they do not require intermediaries. As a result, bitcoin has become popular with merchants and consumers. Some businesses even offer discounts for using bitcoin as payment.
However, the value of bitcoin can be unstable and capricious due to things like market demand, cryptocurrency regulation, and international events. So you should really study the vehicle and understand its risks well before you get into bitcoin.
In conclusion, bitcoin's decentralized nature, anonymity, and low transaction costs make it a tempting substitute for traditional financial systems. However, when it comes to investing, one should keep in mind that bitcoin is extraordinarily volatile and, for a variety of reasons (some of which are obvious), it is not a risk-free investment.
Why Gamble at Betting Site that Accept Bitcoin
For those players who are still undecided, we have compiled a list of the pros and cons of using bitcoin for online gambling. This list primarily highlights the advantages of betting with the cryptocurrency over the more traditional methods of currency, such as the good old South African rand. They are as follows:
- For anonymous sports betting, bitcoin is a useful medium.
- Every gambling site in the world accepts bitcoin. You can place your bets and wagers using this cryptocurrency.
- Exclusive bitcoin bonuses, including reload bonuses, are available to bitcoin players.
- Due to the nature of bitcoin, there are no service fees. Any fees that may apply are imposed by the sportsbooks and are entirely at their discretion. So when you use bitcoin to gamble online, you're largely free of fees.
Is it legal to place a bet using Bitcoin?
In fact, in some cases you can. While the virtual currency has not yet achieved the status of legal tender, there are no laws that specifically prevent American citizens from using it to place bets. Just be sure to use your Bitcoin at sportsbooks that exist outside the jurisdiction of the American legal system.
How do I buy cryptocurrency to crypto gambling site?
Getting started is easy; all you need is an account and a digital wallet. This platform makes it easier and safer than ever to trade the cryptocurrency of your choice. Join the revolution and start betting on Bitcoin now!
Drawbacks of Using Bitcoin Sports Betting Sites
We should explore some of the disadvantages of bitcoin betting. These are not enough to dissuade users from doing so, but they should be considered before signing up.
- As mentioned above, there aren't as many sportsbooks that accept Bitcoin compared to those that accept credit and debit cards.
- The value of Bitcoin is known to fluctuate quite a bit, and you need to take this into consideration before signing up.
- Once made, Bitcoin deposits cannot be reversed by players. When using Bitcoin to make a deposit, you must be thorough and ensure that you provide the correct information. It is important that you do this as any omissions or errors in your deposit process could result in you not having funds available to play with.
Other Deposit Payment Options in Kenya
- SiD Instant EFT Betting Sites