Note: The cited crypto prices and corresponding data in the following post are sure to be slightly out of date, but you’ll get the idea. Now go buy the dip!
The entire cryptocurrency market is crashing.
After spending much of the last month or so north of the $60,000 mark, Bitcoin has dipped to about $59,000, and it’s taking everything down with it.
Ethereum has slipped nearly 20% to $4100, and Solana – the PoS POS coin (we kid, we kid) that “stole” Cardano’s thunder – is down over 22% from its recent ATH.
Meanwhile, Cardano itself is “ADA” low of $1.81 and change.
If you’re a hodler, you might be panicking a bit. You shouldn’t be (you should be doubling down, instead), but panic is all too often the name of the game.
Of course, if you bet with crypto at legal online sportsbooks, now’s the perfect time to buy any of the most popularly accepted crypto coins, as they’re all dipping bigly on the big board over the last week.
Remember, when you use crypto to bet sports online, the key thing to keep in mind (besides winning your bets) is to buy a given coin at a low price compared to its recent valuations and then to transfer it into your betting account at a similarly low price.
After that, you should be sure to keep your coin credited in mBTC and then claim your payouts when the coin with which you wish to withdraw is – again – trending low.
It’s not always easy to get in at a good basement price, but right now, the prices are the best we’ve seen in a long time. For first-time online crypto gamblers, then, it’s time to jump in.
Below are the 11 major crypto coins accepted by the sites we recommend, along with their current prices. Week-over-week price changes are included in parentheses.
- Bitcoin (BTC) – $58,948.36 (-8.85%)
- Bitcoin Cash (BCH) – $570.24 (-15.26%)
- Ethereum (ETH) – $4141.29 (-11.02%)
- Litecoin (LTC) – $214.21 (-16.96%)
- Cardano (ADA) – $1.81 (-14.62%)
- Stellar (XLM) – $0.3338 (13.75%)
- Ripple (XRP) – $1.07 (-12.40%)
- Dogecoin (DOGE) – $0.2279 (-12.41%)
- Chainlink (LINK) – $27.80 (-19.79%)
- USD Coin (USDC) – $1.00 (N/A)
- Tether (USDT) – $1.00 (N/A)
From the above, the coin you choose should be that which has demonstrated the biggest recent drop.
Of course, it also needs to be one of the cryptos actually supported by your betting site (which you can learn more about using our online betting banking comparison tool).
All that said, there aren’t really any bad choices, as the drops have all been relatively comparable. Still, Litecoin is our overall pick here. After all, Litecoin sports betting is available at every site we recommend, and it’s got among the fastest transfer times and cheapest transfer fees.
Long-term, however, crypto betting isn’t just about betting with crypto, it’s also about betting on crypto. And any successful crypto gambler should work toward a truly diverse portfolio.
So our advice is to buy ‘em all, and then buy more on top of that. Put as much as you can into each of the top 20 cryptocurrencies (excepting stablecoins), and ride the tide.
The flood’s coming soon enough.