General Information
Tether or rather USDT as it is popularly known is but one of the thousand cryptocurrencies currently in use across the globe. Like its Siblings, it’s purely digital, yet, with a slight difference, i.e., its value is not subject to the same kind of massive fluctuations that most, if not all cryptos, except for other stablecoins like it often undergo.
The common understanding here is that, unlike others, it is pegged to the USD Dollar and fully backed by Tether’s reserves that make sure it always maintains a 1:1 ratio. This means, 1 USDT will always be convertible for $1. Thus, using it for betting at the best online bookmakers is more like using the US dollar, less for the numerous advantages that come with it.
Why bet with USDT
There are definitely more than enough reasons why a punter might pick out Tether as its main funding method at an online betting platform. The truth is, cryptos generally are very promising currencies that somehow have been able to address quite a number of problems people often encounter with fiat money.
A good example is their decentralized nature and the ability to resist one of the most dreaded financial parasites known as inflation. Well, that’s not for all cryptos anyway, for a few have proven to be more inflationary than even the fiats. However, such are often linked to dubious projects which turn to violet and undermined, in one way or the other, very premise/principles that forms the basic foundation of cryptos in general. Yet, such tendencies and their implications are quite far from USDT, given its strong commitment to the blockchain technology and its unique proof of stake (POS) principle which makes it even more reliable than most.
And that’s just one part, for your USDT will always be available 24/7. Moreso, you will never need anyone’s approval to empty or replenish your USDT Wallet. This automatically makes you the sole authority over your money.
Furthermore, crypto transaction fees are quite moderate, and there are lots of additional investment opportunities offered by different crypto exchanges/firms, some with more than 20% APR you can further invest your betting proceeds in, provided you do your research well.
Last but not the least, using tether for betting means you have actually chosen one of the most flexible cryptos, highly noted for its cost speedy and cost-efficient transfers.
CONCLUSION
If you want to register for a betting account using Bitfinex as your cryptocurrency exchange and start placing your bets in USDT, simply signup and purchase Tether at any crypto exchange. Next, open an account at the best betting platform. Chose USDT as your funding method. Copy your Betting account wallet address. Head back to where your crypto wallet is located, i.e., Exchange and transfer USDT to the address. It will automatically appear in your betting account and boom! You’re a crypto bettor! Do same, to withdraw your crypto and enjoy the freedom of being your own bank.