Bitedge has proven itself to be an important actor in online betting, and with the focus on improving the experience of its users, the site contains a lot of valuable information, recommendations, and safety tips.
The team is constantly engaged with its community of crypto bettors through active accounts on Twitter and Facebook, and also publishes videos on YouTube.
Bitedge.com thus stands out for being very useful in providing betting strategies and recommendations, as thousands of users have benefited from such tips, as well as safety advice.
1. Always Pay Attention to Reputation and Licences
Confirming the authenticity of a betting site is something that must be done if one is to engage in betting in the first place.
Betting sites licensed by the UK Gambling Commission or the Malta Gaming Authority are more likely to practise fair play and serve their customers well than the sites which have not been authorised or licensed.
Bitedge’s team also encourages bettors to read reviews and ask other bettors for their experience on the site.
2. Consider How Many Cryptocurrencies Are Accepted
One of the most significant aspects in selecting a platform on which to engage in crypto betting is the number of cryptocurrencies the site supports. Cryptocurrency platforms that allow the use of Bitcoin, Ethereum, Litecoin, and other altcoins are more attractive since it means more people with unique preferences will be interested in using them.
The platforms offering multiple cryptocurrencies also have higher technological capabilities, which means that their services are better organised.
3. Be Mindful of Price Volatility
Fluctuation in the prices of cryptocurrencies is another essential factor to think of when it comes to betting.
Cryptocurrencies have high volatility, which means that it is possible that their value can significantly drop or significantly increase in a rather short time. This may lead to higher potential winnings, should the value increase, but the same subjects you to potential loss, should the value decrease.
To avoid such risks, Bitedge advises crypto users to monitor market trends and economic factors that may cause fluctuations on crypto prices.
4. Double-Check All Entered Information
Proper checks should be practised during the entry of all wallet addresses and transaction information.
Unlike similar banking operations, crypto operations are irreversible once they have been processed on the blockchain.
It is for this reason that Bitedge recommends bettors to double-check all details and transaction information before confirming it.
Main Advantages of Crypto Betting
As soon as these vital pieces of advice are adopted, one can quickly see that crypto betting has numerous advantages over traditional betting. The two below, however, are the main ones:
- Anonymity: Crypto betting is entirely safe because the identity and the completed transactions are anonymous. This saves users from being victims of potential online fraud or data theft.
- High levels of safety: Peer-to-peer transactions also enhance security by removing the intermediaries that might jeopardise the transaction process.