Bitcoin is a digital currency that enables instant payments anywhere in the world. It uses peer-to-peer technology to operate; money is issued and transactions are managed collectively by the network, meaning there is no central authority. You can find a good introduction to bitcoin on our blog.
Low Fees - One of the key advantages of bitcoin (or bitcoin cash - also supported by Cloudbet) is that transferring it is very inexpensive by comparison to FIAT transfers. You pay fees which incentivise the Miners to maintain the blockchain, but they compare favourably with the payment methods offered by traditional sportsbooks.
Not only is it cheap to transfer bitcoin, it is also relatively fast compared to many of the standard payment methods offered by traditional bookmakers. In general a transaction will take around twenty minutes, depending on how busy the Bitcoin network is, but the beauty of the system is that you have full access to your withdrawal transaction - by simply exploring the Bitcoin blockchain - providing complete transparency. Imagine asking a regular bookmaker to allow you to have open access to their payment system to view the status of a withdrawal.
Betting with Bitcoin Cash is exactly the same as with Bitcoin - same unbeatable odds and high limits - and it applies across Sportsbook, Casino and Live Casino.
Learn more about Bitcoin Cash and what it can offer for gamblers on our blog.