Name Price24H (%)
Bitcoin (BTC)
$10,906.68
-1.25%
Ethereum (ETH)
$370.69
-3.51%
XRP (XRP)
$0.245473
-2.19%
Litecoin (LTC)
$46.92
-3.09%
Sports Betting Among Top Uses for Cryptocurrency in 2020
NEWS

Sports Betting Among Top Uses for Cryptocurrency in 2020

(United States).- Things are happening fast and it’s hard to believe that we already have a full month under our belts in 2020.

Since last year, BTC has made a bullish climb –as much as 40% over the last six weeks. Cryptocurrencies are more popular than ever. The fairly complex ideas behind cryptos and blockchain are no longer esoteric meditations. Bitcoin, Litecoin, Etherium, and xRipple are now household names.

But for what are the reasons to trade in these digital currencies?

INVESTMENT SAFE-HAVEN

Right now, BTC has seen a massive value increase due to the current economic uncertainty across the globe. We have the dollar declining and interest rates low – even negative in some cases– due to the Federal Reserve’s recent cuts. Britain has pulled itself out of the European Union causing significant question marks surrounding their economy and how it will affect the Euro. And we have the latest epidemic outbreak: the Wuhan coronavirus that has scared investors around the world into investing in gold, and Bitcoin.

With so much uncertainty in central bank-backed currencies like the Dollar, Sterling, and Euro investors are putting their money in commodities such as gold and using cryptocurrencies as a safe-haven for their money. This is a significant factor as to why we are seeing Bitcoin move towards a bull market at the moment.

FUNDING FOR SPORTS BETTING

United States is finally changing and people in many states can now legally bet on sports and games of chance online.

The are several sites that accept cryptos, but many sportsbooks offer significant bonuses for utilizing BTC, LTC, Etherium, and a few other popular coins. But the biggest benefit is the speed of transfers. When funding large amounts or withdrawing large amounts through the banks, it takes a while. Often when you go to withdraw your winnings, it could take a couple of days, up to a week. But when you use cryptos, your wallet is funded fast. The average BTC transfer time is just 12 minutes. xRipple is lightning quick and you can move money in a matter of seconds.

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