Crypto Betting FAQs

At CryptoApex, we understand that you may not be familiar with the concept of Crypto gambling. But you need to know about it, because as we’ll explain time and again, it might be the best way for you to conduct business when betting online.

Along those lines, we anticipated you might have some questions about all this. So, we’ll try to answer them. If you’ve got another question (and invariably you will) simply contact CryptoApex and we’ll do our best to help.

Q. Why would I want to use Crypto to open an account as opposed to other methods?
A. Generally, you can use credit cards at online casinos in order to open up an account. There are other methods as well. But the method that is most practical might be another one altogether.

When you make use of a credit card (MasterCard, Visa), the transaction is done with a certain amount of speed, and this may satisfy many players.

But there is nothing that compares to the speed of Crypto.

When going through the process of opening an account, or making a deposit in an account that already exists, you can get the job done using a credit card. But there is no escaping the drawbacks that could be associated with it.

For one, when you do a transaction using some kind of cryptocurrency, it is about as close as you can get to being instantaneous. When you have Bitcoin, Ethereum or some other version of Crypto, it is a “p2p” or person-to-person transaction. In this particular case it would be considered “party to party,” but whichever terminology you want to use, it is directly between you and the end recipient of your funds.

There is absolutely no intervention on the part of a third-party financial institution.

Think about it; when you use your credit card there is the involvement of a bank. The same holds true for checks, including e-checks. If you are in an area where e-wallets are permitted, you are still using a conduit that requires you to surrender personal and financial information.

And if you were to choose to fund your account through a service such as Western Union or MoneyGram, you are, in effect, using not one but two institutions that will have details of your transaction.

So obviously this impacts the amount of privacy you are going to be afforded on these transactions. Is confidentiality an important factor for you? If so, you wouldn’t be alone. A gaming transaction is something that can be rather sensitive; the fewer people know about it, the better. Is there really a downside to privacy?  We don’t think so.

Q. How much of a factor is speed in a Crypto transaction, and how do I benefit?
A. The idea of saving time on deposits is a legitimate factor to consider when you are talking about Crypto gambling. There is always less in the way of “friction” when other entities are involved. It cuts down on the frustration quotient as well. In this way, Crypto betting has really “moved the needle” as far as the progress of the online casino and sportsbook industry.

One aspect about using Crypto that is perhaps most helpful is that there is the very high probability that you are going to get paid much faster. We have found that is a very HUGE advantage to doing business this way. When you are on board with a crypto betting establishment, be it a casino or sportsbook, you are going to be paid within 24 hours in most cases when you are using a cryptocurrency. If you utilize other methods, such as a bank transfer, check, money order and so on, it could literally take weeks to complete your withdrawal.

That is why CryptoApex recommends a list of trusted Crypto Sportsbooks and trusted Crypto Casinos. At these locations, it is “easy in, easy out.” And what could be better than that?

Q. What is meant by the term “Altcoin Betting”?
A. What are “Altcoins”? Well, as the name would imply, these are alternative coins, established in the wake of the rise of Bitcoin (BTC), which was established for use in 2009. Of course, after BTC started to gain some traction in 2017, it was expected that others would follow. And they most certainly have; there are thousands of altcoins in existence, all trying to find their niche.

Some are more popular than others. But the important thing to remember, from the standpoint of Crypto gambling, is that, when there are altcoins available, that condition allows for considerably expanded choices, as well as the acknowledgment of those who hold those currencies.

And that becomes a real attraction for the best Crypto sportsbooks and casinos as far as the Crypto-savvy public is concerned.

Let’s use an example. BetOnline, which is one of the top Crypto betting destinations we list here at CryptoApex, accepts Bitcoin, of course, and Bitcoin Cash as well. But in addition to that, they have at least fifteen other currencies. These “Altcoins” include:

– Apecoin
– Avalanche
– Binance
– Cardano
– Chainlink
– Dogecoin
– Ethereum
– Litecoin
– Polygon
– Ripple
– Shiba Inu
– Solana
– Stellar
– Tether
– USD Coin

For Bitcoin customers who are all too familiar with the ups and downs of BTC, Altcoins might provide a certain degree of relief. They tend to experience less volatility, and that’s a good thing when you’re looking to make a deposit or withdrawal.

Q. Where are Crypto Sportsbooks and Crypto Casinos available?
A. You have to be aware of something that represents a distinct advantage for offshore gaming establishments as opposed to those so-called “licensed” operations. The licensed sportsbooks and casinos generally don’t offer odds or bonuses that are as attractive as those you have become accustomed to finding offshore.

And they also don’t offer Crypto as an option through which to open an account.

That’s not a small consideration.

So, if you’re going to use Crypto for deposits (and we whole-heartedly recommend that you do), we’d urge you to patronize those operations that are designated as CryprtoApex Top Sportsbooks and Casinos. That is primarily because of faster Crypto payouts, great customer service, great Crypto gambling games and other factors.

Q. Will I get treated any differently because I am doing my transactions in Crypto?
A. Believe us when we tell you – the Best Crypto Gambling Sites will treat you like a true V.I.P.

We get deeper into the concept of Crypto gambling bonuses in the “Best Crypto Gambling Sites 2022” review. For the here and now, suffice it to say that when you make deposits for Bitcoin betting or Altcoin betting, you tend to be treated more like a VIP; that is, a very important player.

That is because they sense that you are a customer who is more conscientious, consistent, and deposit at a higher level.

We’re not kidding; if you take a look at many of those entities that are included on the “Best Crypto Gambling Sites” on CryptoApex, you will notice that the limits imposed on Crypto deposits are considerably higher than other payment methods. And somewhere along the way, that’s going to mean something to you.

There are also actual VIP programs that are tied to customers who use Crypto to transact business. These programs reward loyalty and offer benefits that are often much better than you could get from any land-based casinos. So that is yet another advantage you’ll get by doing Crypto gambling.

Q. How will I know what the Best Crypto Betting Bonuses are?
A. If you are familiar at all with the way online casinos and sportsbooks operate, you know that it is not uncommon to receive a bonus for signing up – or making additional deposits, for that matter.

But many Crypto betting destinations have added a refinement to all of that; they have come up with various bonuses – some of which are extremely creative – that are dedicated to those who make deposits using Crypto.

This is one way in which we determine the best Crypto casinos and best Crypto sportsbooks at CryptoApex.

If you haven’t taken advantage of them, you really should. Most of them are pretty generous. They reward you for transacting through Crypto, which is an easier method through which to do business in the first place.

If you pick up a Crypto-related bonus at a Crypto betting establishment, you’re usually going to get at least 50%, and may even get more than 100%. As we have stated, they really want you to come on board with a Crypto deposit and will do what they can to welcome you in the right way.

On top of this, some of the best Crypto gambling sites will offer a “Bitcoin Boost” or something similar, where you will receive 10% over and above the value of the deposit you make, if you are using Bitcoin (this could be the same case with any given Altcoin as well). It’s something that is designated especially for those using cryptocurrencies. One of the best promotions of this kind can be found at BetOnline.

And you can read some details about all of these offers within our mini-reviews of the “Best Crypto Gambling Sites” right here at CryptoApex. Many hours have been spent painstakingly researching the information, to make it easier for you to enjoy Bitcoin betting and Altcoin betting at the safest possible locations.

Q. What are the risks of Crypto Betting?
A. There’s a whole lot of good involved with Crypto gambling. It is truly the best way to go. But in the pursuit of transparency, it is worth taking a moment to discuss the possible risks in dealing with cryptocurrencies.

When something draws quite a bit of attention, like Crypto, it is going to attract those who don’t have the best interests of consumers at heart. So there are going to be unscrupulous operators looking to take advantage of unsuspecting individuals.

This is precisely why CryptoApex (that’s us) offers a select list of “Best Crypto Gambling Sites,” which are those sites that are especially reputable and well-establishment, with a sterling reputation for dealing with customers.

Cyber attacks also happen from time to time, and they have affected some of the cryptocurrencies, namely Bitcoin. You can take measures to protect your Crypto holdings with secure wallets, both online and offline.

Volatility is also a factor, and may stay that way for some time. Market values for various currencies are going to fluctuate; that is the way of the Crypto world. And this could well matter to you in terms of the relative values of your Crypto holdings when you deposit and when you withdraw.

There is also the factor of government regulation, or lack of same. There is an upside to a regulatory structure, in that it does perform certain functions to guard against fraud. However, those benefits may be outweighed by that which comes by way of the blockchain technology. Why would one use any cryptocurrency? To exchange with others on a person-to-person (p2p) basis. Looking at it through that prism, government non-involvement may be a blessing rather than a curse.

Q. When I see the term “mBTC,” what does that mean?
A. Well, back in those relatively prehistoric times when Bitcoin was trading at $3, it was pretty easy to do a transaction, as something that was valued at $30 was ten Bitcoin (BTC). But $30, based on, say, a Bitcoin valuation of $30,000, would be 0.001 BTC. And that means, not only do most people not have the kind of large denominations that would accommodate a full Bitcoin, but hey, nobody wants to speak in terms of thousandths of a Bitcoin. It’s confusing.

So mBTC (which means “Milli Bitcoin”) eliminates that confusion by expressing Bitcoin values in terms of thousandths of a coin. And so 0.001 BTC would be “1 mBTC.”

There are some Crypto betting establishments that use this kind of terminology (such as NitroBetting, which is on our “Best Crypto Gambling Sites” list here at CryptoApex), and we would expect that as time evolves, we’ll see more and more of this.