Full list of top Cryptocurrencies by market capitalization can be found on CoinMarketCap. This allows for faster payouts.Įxamples of popular cryptocurrencies are Bitcoin, Ethereum, Litecoin and Bitcoin Cash, but there are many more altcoins designed for various purposes. Cryptocurrency is transferred directly between individual parties without the bank functioning as a middle man to process the transfer. This typically takes a few days to complete. Traditional payment methods such as bank transfers require the bookmaker’s bank and the bettor’s bank to approve and process the payment. Successful bettors can receive their winnings near-immediately upon the conclusion of the matches. As a result of this speed and ease, cryptocurrency is gaining popularity with sports bettors.

These traits allow a direct exchange of cryptocurrencies between two parties using private or public keys with minimal processing fees. No one else knows how much cryptocurrency any buyer owns. While transactions are open to view, the status of traders’ wallets is known only to their owners and people with whom they choose to share it. Transaction progress can be viewed at any time, and its open distribution over the blockchain network means that merchants cannot try to mislead buyers as the transaction information is visible on the network. Cryptocurrency exchanges are transparent as a result of blockchain technology.

This means that access and control over cryptocurrency funds lie with the owner: no one can block their wallet or take their funds. Cryptocurrency has fast distribution because it is not controlled by a central authority.Cryptocurrencies utilize blockchain technology to progress towards three key traits: distribution, transparency, and anonymity. What is Cryptocurrency and why is it used in Esports Betting?Ĭryptocurrency is a digital currency developed using cryptographic functions to enable financial transactions over the Internet. The integration of cryptocurrency into esports betting provides new avenues for fans to enjoy their sport of choice. Fittingly, it is constantly pushing towards the newest developing technologies. Esports is at the spearhead for the advancement of sports in the digital age.

Thunderpick esports betting