How to Start Using Bitcoin for Online Betting — Step-By-Step Guide

 

Kraken Cryptocurrency and Bitcoin Platform

In today’s digital era, the prospect of cryptocurrencies trading represents one of the main innovations that can bring a broad spectrum of financial benefits. Moreover, there are also many cryptocurrencies in today’s market with each one providing a different set of advantages. The most well known and most secure is Bitcoin. And with the rise of the cryptocurrencies, there is also an increased demand for cryptocurrency exchanges that provide cryptocurrency trading. However, many people, sports bettors and Bitcoin investors are not sure which cryptocurrency exchange trading platforms should they rely on. After all, there are many of them on the market. Some are promising a lot, and others less. Nevertheless, to pick the right cryptocurrency exchange, it is imperative to have the proper information on hand. That is why the Brokerstorm team of experts have provided this guide about the highly reputable Kraken cryptocurrency exchange and why you should sign up on this credible revolutionary cryptocurrency exchange platform.

Kraken Cryptocurrency Exchange Platform – Background Information

Investing your money in cryptocurrency is the trend in today’s digital era. Moreover, some platforms offer a broad spectrum of benefits.
However, in the case of Kraken, it is not only about the benefits, but for the reputation as well. Kraken is a cryptocurrency exchange based in the United States and was founded in 2011.

Why You Should Use Bitcoin for Online Betting

First and foremost, you should look at what exactly the betting website offers to the users.
For instance, the betting markets is one of the main elements of every betting website. It should include certain betting options from popular sports like football, soccer, basketball, horse racing, and ice hockey and other less popular options.
Combined with that a proper betting website that accepts bitcoin should also have a broad spectrum of features, including in-play betting, live streaming, early cashout, and many more.

Furthermore, a good website in which you should place your bitcoin deposits needs to be mobile-friendly and to have exceptional customer support. This is especially important since it will provide players who have questions about the use of a bitcoin on the betting and it will provide professional and responsive customer support.

There are still many people who have a hard time understanding why anyone would start to use a virtual currency such as Bitcoin for betting deposits and withdrawals?

1. No rate fluctuactions
The main advantage is that you are never going to be dependent by a Government in regards to how you can spend your Bitcoins nor will you suffer from interest rate fluctuations which have a serious potential to result with currency deflation and losing money in the long term.
2. Anonymity
Using Bitcoin, you can experience a higher level of anonymity than any other online betting payment method. Keep in mind, using credit cards and bank transfers will leave traces of your personal information on the betting site.
3. No Fees
When bitcoin is used for betting deposits and withdrawal, users eliminate the banks and their fees. Therefore, every bettor that uses a betting site that accepts bitcoin is saving money namely on transaction fees, bank charges, currency conversion and so on.
4. No Limits/ No restrictions
In the same time, if you use bitcoin for your online betting, bitcoin can be accepted almost everywhere in the world and your account can stay secure and there are no limits on how much money you can deposit or withdraw. Simply said, there are no limits on how much money you receive. For example, if you place a winning bet on some online site that accepts bitcoin, then, in theory, you can withdraw all the money that you won without any restrictions.

All in all, Bitcoin works for betting in a similar (if not the same) way as for everything else. When you create a digital wallet and buy your first batch of bitcoins, you can use them on any betting website that accepts Bitcoin as a form of payment. This means that you can use bitcoins for both deposits and withdrawals.This, in turn, means that if you use bitcoin on a betting site, you can maximize your profits since you eliminate all the fees and you promptly get your winnings.

Cryptocurrency Beginner Friendly

Kraken represents a cryptocurrency exchange platform that can offer a broad spectrum of advantages for the users that are new in the Bitcoin and crypto investing world. Moreover, Kraken gives you the benefit of the power to chart your financial course.

In the same time, Kraken exchange also includes an ever-growing number of cryptocurrency pairs for you to invest. Combined with that, Kraken offers a set of tools and features for you to leverage as you grow your portfolio.

A notable asset among those tools is the Kraken’s Crypto Guides, which includes an in-depth look at some of the top projects in the space so you can do an informed investment.

The crypto deposits on Kraken can be in any of the coins that they support. They allow unlimited crypto deposits. That applies even for traders that have not gone through the specific KYC verification, it’s only withdrawals which are limited.

Kraken supports USD, EUR, CAD, and GBP and they offer a wide variety of options for those currencies to be deposited.

Benefits of using Bitcoin wallet

As mentioned in the introduction, the Kraken Cryptocurrencies exchange platform can offer a broad spectrum of benefits for the average investor. Moreover, these advantages can have a galvanizing effect on the overall cryptocurrency experience.
1. Safety
The first notable aspect is closely related to the fact that the platform is secured. After all, when we talk about money, the prospect of security and safety is paramount. In that context, Kraken tends to rely on the use of the so-called 2 Factor authentication. Therefore, cases of fraud and compromised accounts are non-existent.
2. High level of transparency
Another advantage compared to other cryptocurrency exchange platform is that Kraken has the unique ability to support a large number of users seeking exposure. Also, Kraken supports users that are with small starting capital or are careful with their cryptocurrencies investments. Combined with that, Kraken offers a high level of transparency since all users are open to Bitcoin trade and cash it is swiftly credited to all users.
3. Beginner-Friendly
Since it is a beginner-friendly, you can start with symbolic amounts and you can do your operations with a wide variety of cryptocurrencies and fiat currencies.

Create a Kraken Account – A Simple and Swift Process

The process of creating an account with Kraken is simple and easy. It is quite similar to the process of making an account at any online site. Yet, Kraken has included numerous security features to protect you and your funds, personal information and your account in general. Another layer of protection is the inclusion of the master key. In case someone gains access to your account login details from your computer, you are still because they will need to have your other device, such as a smartphone. On a simple note, the whole process does not take more than 10 minutes.

Overall Review

Based on real reviews from real customers and traders on Kraken, this cryptocurrency exchange platform provides an exception cryptocurrency exchange experience for all of their clients. As for their customer service, Kraken has incorporated always-on live chat and extensive Help Center resolve issues efficiently around the clock.
Besides the fact that this exchange platform is beginner-friendly, it is also very good for the advanced traders. Kraken offers an additional exclusive real-time, hyper-personalized support through their reliableKraken Account Management program.
Traders at Kraken reported a high level of transparency which is still uncommon for the crypto industry. No matter what happens, traders have peace in mind as Krakencan withstand a total withdrawal of the cryptocurrency value traded on their platform.
Certain traders can even run their audit whenever you want on your account as well.

The Bottom Line

On a final note, we can conclude that Kraken represents one of the best and most reliable Bitcoin and Cryptocurrency Exchange platforms. It has an excellent rank. And it is among the top five leading cryptocurrency exchanges in the world. Also, due to its high standards and exemplary regulatory compliance,Kraken is considered as one of the best options for professional traders and institutional investors. On top of that, it is safe to say that Kraken offers more advanced features like margin and futures. And this factor makes Kraken even more appealing to many new andsophisticated traders. Overall Kraken is a good platform for every trader or organizations in the world that follow all the regulations and do their trades daily.

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