betting with altcoins

Most of you know that you are able to bet on esports with bitcoin. There are several sites that accept bitcoin as a payment method. Actually, a lot of them are listed here as trusted bookmakers at Esportslobby. The top three being:

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Besides bitcoin, we have a lot of other cryptocurrency options today. Bitcoin Cash, Ethereum and DASH just to mention three of them. Ethereum betting or any other altcoin betting is not possible today. And it is kind of a good thing. These coins are very volatile, Ethereum for instance started the year of at 7 dollars and have now reached around 300 dollar. This can go either way. And you do not really want to be thinking of the value of your currency when you are betting.

But, with the cryptocurrency on the upraising you might want to bet on a coin or two? If you know what you are doing, then sure – if not, then avoid betting with cryptocurrency whenever it is available.

What should you think about?

Betting with bitcoin is still possible, and bookmakers will in the future make it possible to bet with altcoins. As the regulations around cryptocurrency is still involving you need to follow these. As an example, cryptocurrency in Sweden is defined as a security and is only taxable when you realize your profit (i.e. sell the currency).

If I would have to take a guess, the next altcoin possible to bet with is Ethereum. Ethereum betting is probably just around the corner – for a short period of time, it was possible to bet with the coin but not anymore.

Anyways, just a short introduction to altcoin betting. I will make sure you get the update as soon as other betting methods are available besides bitcoin – but it will probably not be anytime soon.