Bitcoin Cash Sports Betting Deposits
When it comes to online sports betting with legal overseas operators, getting money into your account can sometimes be a headache. However, the most forward-thinking legal online sportsbooks have long offered reliable sports betting deposit methods that make the process quick and easy.
Bitcoin Cash sports betting deposits are one such highly regarded and reputable option. For those gamblers looking to wager on sporting events, there’s no faster way to get their accounts topped off than by using Bitcoin Cash (BCH). If you need money in your betting account ASAP, BCH is GTG!
Of course, if you don’t know how to buy Bitcoin Cash or have never used cryptocurrency before, you might be intimidated by the new concepts around digital money in general. But rest easy, because Bitcoin Cash is 100% legitimate currency, and it’s among the best banking methods going for getting your betting account ready for the big game. Our brief BCH guide has everything you need to know to start using Bitcoin Cash for all your sports betting needs.
What Is Bitcoin Cash?
Bitcoin Cash (BCH) is a cryptocurrency alternative to Bitcoin – aka an “altcoin” – that was actually created from a Bitcoin hard fork in 2017. Bitcoin Cash – like its Bitcoin parent protocol – uses a proof-of-work (PoW) algorithm to verify every new block of transactions, but because of its comparative flexibility to Bitcoin, it’s able to process transactions much faster.
Bitcoin Cash is the fifth most traded cryptocurrency as of 2020, with a Q3 2020 market cap of $4.1 billion. It is one of the most popular cryptocurrencies after Bitcoin itself, and it is regarded in the industry as a “stable coin.” Because of this status, many online retailers and service providers accept the token, including legal offshore sports betting sites.
Indeed, for online sports bettors, one of the best reasons to use BCH is its increased processing speed when transferring funds into and out of sportsbook accounts. All the top online sports betting sites accept Bitcoin Cash as a matter of course, just as they all accept Bitcoin sportsbook deposits.
As a general rule, if you wish to use your crypto to make transactions, then BCH is the way to go. If you wish to “hold” your crypto as an investment, then BTC is the way to go.
Is Bitcoin Cash Legal For Funding Online Sports Bet?
Yes, you can legally fund your online sports bets using Bitcoin Cash at all the most trusted online sportsbook operators. Just as these sites are legal for all USA bettors to use at age 18 and up, so too is it legal to use Bitcoin Cash to fund online sports betting. There are no US gambling laws against using BCH, and the cryptocurrency is totally decentralized and unregulated.
One of the best Bitcoin Cash benefits for online sports gambling is that the cryptocurrency is not tied to any bank or government entity. Thus, there is no way for USA banking regulations like the UIGEA to interrupt BCH transfers, allowing you to cut through any red tape when you want to get your sportsbook account topped off in a hurry.
Bitcoin Cash Sports Betting Benefits
Whenever new players sign up to bet on sports online, we always recommend using cryptocurrencies instead of typical banking methods like credit cards, debit cards, money orders, cashier’s checks, or bank wires.
This is because crypto – in this case, Bitcoin Cash – offers USA bettors a number of benefits over depositing and withdrawing via any other sports betting banking method:
- Legal for all US and international sports bettors aged 18+
- Guaranteed transactions – no red tape, no declined payments
- PayPal Bitcoin Cash support could soon allow outgoing transfers for easy first-time crypto betting transactions
- Transfers complete in just a few minutes – bet on your favorite players and teams immediately
- Quantum-hacking-resistant blockchain technology – the safest, most secure way to send money over the Internet
- Increased anonymity so your private information stays private
- Zero transfer fees for deposits or payouts
- Highest transfer limits
- Enhanced cryptocurrency bonuses – double your bankroll!
- Only same-day payout option for online sports betting
- Investment-grade crypto – BCH appreciates in value so your winning bets are worth even more
Bitcoin Cash Sportsbook Bonuses
Every trusted online sportsbook offers its members extra perks for depositing with Bitcoin Cash and other cryptocurrencies. This is a very compelling reason on its own to always fund your online betting with crypto like BCH.
Typically, when you sign up at an international sportsbook site, you will be offered a welcome bonus that matches a percentage of your deposit, letting you immediately grow your bankroll before ever placing a bet. But if you make a BCH deposit instead of a credit card, check, or other traditional deposit, you can often get twice the amount of bonus betting free-plays. Instead of a 50% deposit match up to $500, Bitcoin Cash might earn you a 100% deposit match of up to $1000!
The same is true for the sites that offer reload bonuses. Whenever you make a fresh deposit into your account, you can claim a bonus that tops off your wallet with another deposit match promo. If you use Bitcoin Cash, you’ll get that much more free cash for your trouble.
It’s important to note that all online sports betting bonuses come with rollover requirements that must be met before you withdraw, but they’re always very favorable and easy to meet. Best of all, when you get an enhanced Bitcoin Cash gambling bonus, that rollover stays the same. Bottom line: If you want more bang for your buck, Bitcoin Cash is your best bet.
How To Buy Bitcoin Cash
In the early days of crypto, “mining” was a thing. However, due to increased system requirements these days, most Bitcoin Cash mining is a thing of the past on an individual level. Yes, it’s theoretically possible to be a Bitcoin Cash miner, but most bettors aren’t interested in the technicalities of BCH or any other crypto – They just want an easy way to buy Bitcoin Cash so they can deposit it at their favorite online sportsbooks and enjoy their hobby.
All that is to say that for betting with BCH, you don’t need to know how to mine Bitcoin Cash – it’s enough that you understand how to quickly buy BCH from existing cryptocurrency exchanges and use it to fund your sportsbook account.
If you already own another cryptocurrency like Bitcoin, Litecoin, or Stellar, you likely already know that you can simply trade those tokens for BCH tokens on any reputable exchange. But if you’re a first-time buyer, the following steps explain all you need to know to purchase Bitcoin Cash.
- Open an account with a cryptocurrency exchange that allows USD-to-BCH transfers. The most popular crypto buy-in exchange for US residents is Coinbase. However, there are other options available, as well, and PayPal could soon become the easiest and most straightforward option now that the P2P service supports cryptocurrencies (though PayPal crypto trading is TBA).
- At your crypto exchange, link your bank account or use a credit or debit card to purchase Bitcoin Cash. The current Bitcoin Cash price at the time you place your order will be the price you get, regardless of how the BCH value moves between the time you buy BCH and the time it’s actually delivered to your exchange wallet. This can take up to 10 days for first-time BCH buyers, so please plan accordingly. For first-time PayPal Bitcoin Cash buyers, the process should be much faster once the service allows for outgoing transfers.
- Once you have your Bitcoin Cash, you can keep it on the exchange where you bought it, or you can move it to another exchange of your liking. You can also put your crypto into a Bitcoin Cash wallet, taking it off the exchanges completely. The choice is yours!
How To Buy Bitcoin Cash With PayPal
In late 2020, PayPal shook the crypto world by announcing its support – finally! – for Bitcoin Cash and other cryptocurrency tokens. While many crypto buyers are perfectly happy to use the existing exchanges, PayPal Bitcoin Cash support means that hundreds of millions of users now have an easier, more straightforward option to get onboard the cryptocurrency gravy train. If you already use PayPal for everyday online purchases, you can now use PayPal to buy BCH quickly, safely, and easily.
That said, please note that at launch, PayPal is not allowing users to send their Bitcoin Cash as outgoing transfers. This is a temporary restriction as the service rolls out, but it means that – for sports betting – PayPal’s BCH exchange isn’t quite ready. Once these restrictions are lifted, this page will be updated accordingly.
When that happens, to purchase Bitcoin Cash with PayPal, just log into your PayPal account and find the cryptocurrency section. There, select Bitcoin Cash (BCH), and buy as much of the altcoin as you wish. Once it’s credited to your PayPal wallet, you can use the PayPal app to send BCH to your offshore legal betting site of choice. This streamlined process will be a real gamechanger for sports betting, and it will usher in a whole new generation of bettors, which benefits the entire community.
If PayPal later tries to restrict certain outgoing transfers and blocks the Bitcoin Cash receiving wallets of popular online betting sites, don’t worry. In that case, just move your BCH to an online crypto exchange or into a dedicated Bitcoin Cash wallet, from where you can make your sports betting deposits with no problems or delays.
How To Make Sportsbook Deposits Using Bitcoin Cash
Once you’ve acquired your BCH, you need to understand how to make Bitcoin Cash deposits at your online sportsbook of choice. Fortunately, the steps are super simple:
- Follow any link on this page to the legal sports betting site you wish to join, find the “Sign Up” or “Join” button, and click or tap it.
- Enter your real credentials, including your first and last name, your email address, and your phone number. It is important that you use verifiable information, because even though you’re depositing with BCH, you still have to prove your identity in order to claim any withdrawals. All the top sportsbooks guard your private data securely, and they never share it with or sell it to third parties.
- Choose a username and password for the site.
- Choose the Bitcoin Cash banking method from the selection of deposit options.
- Select an optional Bitcoin Cash bonus.
- Copy down the site’s Bitcoin Cash address.
- From your Bitcoin Cash exchange account, BCH wallet, or PayPal Bitcoin Cash wallet (when supported), plug the above address into the “Send” option’s recipient field.
- Enter the BCH amount you wish to transfer to your online bookmaker, and submit the form.
In just a few minutes, your Bitcoin Cash transfer will go through, and your betting account will be credited with the amount sent. Most sites will convert this to the Bitcoin Cash USD equivalent, though some operators will also allow you to convert it to mBTC (or milliBitcoin).
Once your account is funded, simply browse the betting boards, click or tap on any line or lines you like, and place single wagers or parlays at your convenience.
Where To Buy Bitcoin Cash
There are several options for where to buy Bitcoin Cash, and we mentioned two of them – PayPal and Coinbase – above. Assuming you are trying to purchase BCH with USD via credit, debit, or bank transfers (ECH), there are several crypto exchanges to consider in total:
- PayPal (coming soon)
Not all of these USA crypto exchanges will allow you to directly purchase BCH with USD. However, they all allow you to buy Bitcoin with American dollars, which you can then exchange for BCH. That said, PayPal now lets users trade US dollars for Bitcoin Cash easily and quickly, which means it is likely to become the number-one BCH buying option going forward (pending the launch of their BCH trading platform for external recipients).
If you wish to forego the major exchange process to quickly acquire BCH, you can purchase Bitcoin from LocalBitcoins.com via the Zelle-to-BTC process, and then trade that BTC for BCH. With so many options, you’re sure to find one that best suits your needs.
Note: Some sites also employ a service called QB Direct by QuickBit, though this is limited to Litecoin transactions for the time being.
Best Bitcoin Cash Wallets For Sports Betting
If you plan to use BCH to fund your legal online sportsbook account, you will need a Bitcoin Cash wallet. Fortunately, there are several wallets that support Bitcoin Cash, and there are four different categories, each with their own strengths and weaknesses.
That said, because sports betting lines can change so frequently and often shift from one moment to the next, it’s very important that your BCH wallet is quick and easy to use for instant online transactions. Otherwise, you may not get money into your account to wager on a favorable line before it turns into an unfavorable one.
Bitcoin Cash Online Wallets – Ferrari
- PayPal (coming soon)
- Online Exchange Wallets
Bitcoin Cash Software Wallets – BMW
- Atomic Wallet
- Guarda Wallet
- Electron Cash
Bitcoin Cash Hardware Wallets - Honda
- Ledger Nano X
- Ledger Nano S
- Trezor One
The fastest wallets to use for sending Bitcoin Cash to your legal online sportsbook are web-based online wallets. These allow you to send and receive BCH faster than any other solution. Many of them are also mobile-friendly, so they pair nicely with all the best sites’ mobile sports betting suites.
Software wallets for Bitcoin Cash are a bit more secure, but they’re not quite as quick on the draw (or withdrawal!) as online BCH wallets. Still, in terms of overall security vs. performance, we typically like the BCH software wallet route best.
Hardware wallets allow for Bitcoin Cash cold storage, letting you keep your tokens safely off the Internet altogether. If you hold your BCH this way, you will have to go through extra steps to send Bitcoin Cash to your sportsbook every time you make a deposit, but these are the most secure options.
Paper wallets are for long-term cold storage and should only be used for ultra-secure Bitcoin Cash investment, not BCH trading. We do not recommend using BCH paper wallets in general due to the heightened risk of loss: If you lose that piece of paper, you lose your money!
Note: Please only download Bitcoin Cash software wallets from their official, verified developer sites. Additionally, you should only purchase a BCH hardware wallet from the manufacturer directly rather than going through any third-party vendor like Amazon or eBay.
Get Same-Day Sports Betting Payouts With Bitcoin Cash
Putting all the other great reasons to use Bitcoin Cash sports betting solutions aside, the primary reason we advocate funding your sportsbook account with BCH is that the cryptocurrency allows for same-day payouts. No other deposit method besides crypto will let you receive your sports betting payouts on the same day you request them, as more traditional banking methods take between two and five days to process and show up stateside.
In addition to same-day payouts, of course, BCH deposits and withdrawals have high limits and no added fees, which means you get to keep more of your winnings than you otherwise might should you elect to use withdrawal methods like courier checks, bank wires, or money orders.
A Bitcoin Cash payout generally takes between 15-30 minutes, though many sites “hedge their bets” by claiming that the process takes 12-24 hours. In our experience, it almost never takes nearly that long, which means that you can use your sports betting winnings for things like paying bills, buying groceries, or funding projects that can’t wait.
So if you can’t wait to get betting, use Bitcoin Cash and start gambling today!