With cryptocurrency and Bitcoin specifically rising in popularity, it was only a matter of time before clones or copycats emerged. In film, TV and media in general, a spin-off is any work of narrative derived from an already existing one, focusing more in-depth on details and aspects of that work. In the same spirit, Bitcoin Cash (BCH), not to be confused with Bitcoin, spawned from the original; BCH is also a digital currency for direct, peer-to-peer transactions, tweaked specifically for everyday use. It basically is a faster and cheaper version of BTC. For these reasons, BCH gambling makes for a fantastic option. Given that it is a relatively rare option to find as payment, you need to consider which Bitcoin Cash gambling sites you play on carefully. Let’s wade into the reasons why and how to safely and efficiently approach Bitcoin Cash gambling.
Trusted Bitcoin Cash Sportsbooks for 2022
We are aware that looking for a good BCH Sportsbook can be a tiresome task, and also, there are not that many such bookies around. This is why we made a list to include the most trustworthy options, based on the lots of available bets in most markets, favorable odds, decent bonus wagering and their reliability. A good level of trust is vital because this is a very new coin, less than five years old.
Bitcoin vs. Bitcoin Cash Gambling
It is vital to understand that these two are two entirely different coins. Bitcoin Cash was the result of a heated conflict among members within the original BTC community who believe that Bitcoin’s blockchain is too rigid and can not handle large numbers of transactions. To put into perspective, VISA can handle approximately 45,000 transactions per minute, whereas Bitcoin can handle only seven. This inability to handle the workload caused by a large number of transactions has been a source of criticism over the years for the king of crypto.
Imagine you need to urgently place a Live bet on your favorite bookmaker and have to wait for forty-five minutes to an hour for your deposit to go through. It’s terrible, we know. Therefore, we can argue that BTC is swaying away from its original goal to be an everyday digital currency. This issue of figuring out how to make the blockchain suitable for mass usage is called scalability. Enter Bitcoin Cash, which has tweaked the Bitcoin Core code to achieve faster and cheaper transactions. Let’s see how they both fare against each other.
BTC and BCH Similarities
As far as similarities go, both cryptos share the same history. Whatever transaction has transpired before the split is there for both coins. This should not come as a surprise, considering that Bitcoin Cash is a hard fork of Bitcoin. In plain English, this is a split in the code which spawns a second currency, totally separate from the original. Another thing they have in common is they are both decentralized, meaning there is no central entity controlling them, which is very good for your deposits and withdrawals. There can never be any bank red tape preventing your deposit from going through when using a Bitcoin Cash sportsbook. Finally, both BTC and Bitcoin Cash have a blockchain; this is an infallible, digital ledger managed by computers all over the world.
BTC and BCH differences
There are, of course, differences between Bitcoin and Bitcoin Cash. The main difference and primary cause of dispute that led to Bitcoin Cash’s creation is the size of the block on the blockchain. BCH has a larger block size, effectively allowing it to process more transactions at any given time. Plus, there are fewer fees associated with each transaction. The difference is roughly three times cheaper than Bitcoin’s. Another difference is that Bitcoin Cash is less known than Bitcoin at the moment. In a way, this makes sense since it was only created a couple of years ago, whereas Bitcoin has been around for more than a decade.
Reasons for Bitcoin Cash gambling
There are a lot of reasons that Bitcoin Cash gambling feels like a good choice. A fact which is also evident even from its name, which indicated Bitcoin Cash aims for daily transactions of all sizes. See below.
✔ Increased privacy
Never before was it possible to gamble without ever using your name or providing personal details? With Bitcoin Cash, you protect your privacy, provided you do not link your private information to the address of your digital wallet.
✔ Faster transactions
You can enjoy transactions at speeds that in conventional bookies are unheard of. It takes less than three minutes to top up your account and this goes a long way, both in mobile play and live betting especially.
✔ Very low fees
Along with the increased speed in the transactions, you enjoy very low fees. That is particularly true if you compare Bitcoin Cash sports betting with the likes of Bitcoin and Ethereum. The cost is negligible, plus bookies often absorb it, meaning you get to deposit and withdraw your gain for free.
✔ Secure Transactions
There is hardly anything more secure than a blockchain. Even though public, the impervious nature of this decentralized online ledger keeps your transactions transparent but indisputable and hack-proof by anyone. There is no way that any bookie will dispute your deposit. Additionally, you can always track it on-chain.
✔ Under the radar betting
Through the enhanced privacy, the decentralized nature of crypto and the fact that Bitcoin Cash gambling sites usually can not be limited by regional regulations, you can finally practice under-the-radar betting. This way, you keep any prying eyes away from your betting activity and most certainly separate from your bank account.
✔ Excellent upside potential
There is little doubt that out of all cryptocurrencies, Bitcoin is the one that is far more likely to stand the test of time. If you think you have missed the train to invest in Bitcoin -by the way, you haven’t- then what better way to invest in a coin that keeps Bitcoin’s legacy but also improves on its flaws. The upside potential on Bitcoin Cash is huge, provided it gets the appropriate adoption.
Reasons against Bitcoin Cash gambling
Whereas Bitcoin Cash has unique benefits, we should also examine the reasons against Bitcoin Cash gambling. While there are not many, you should not dismiss them. Instead, factor them in carefully in your decision. Let’s see below.
❌ Not widely accepted
Despite BCH’s outstanding traits, Bitcoin Cash bookmakers are hard to find nowadays. Of course, this may change. But for the time being, you will need to look hard to find bookies that accept it. Therefore your options are limited and you need to be extra careful not to fall victim to any scams—kind reminder to check our list with the most trusted BCH gambling sites.
❌ Possible Regulation
As with every emerging market, we are still early. Meaning, regulation has not decided yet what to make of cryptocurrencies. Even though it is impossible to regulate crypto fully, it is not improbable that regulators will try and find a way to make things more challenging in the future, such as controlling digital wallets.
❌ Very new coin/Price is volatile
Bitcoin Cash is a coin that has recently been introduced to the market. Therefore, this makes its price very volatile. So even though you may find yourself with insane gains one day, you may lose most of your money in one of these violent price swings. Cryptocurrencies are, after all, infamous for their volatility, especially the new ones.
❌ BCH is less decentralized
Bitcoin Cash has received some criticism. Due to its technical differences with Bitcoin, namely the block size, BCH is possible to become less decentralized. That is because a larger block size requires more energy. Meaning, only miners with powerful & expensive machines can afford to mine BCH. Fewer miners mean that fewer people control the network. These fewer people may potentially decide to jeopardize its status. More scarily, they may even choose to shut the network down and kill Bitcoin Cash.
❌ Possible security issues
As for security, without getting too technical, it has to do with the amount of information required to secure a transaction; For the sake of speed and low fees, BCH sacrifices the amount of data necessary to confirm a transaction. Thus, transactions may not be thoroughly checked before finalized, which opens a small window for exploits.
❌ Irreversible Transactions
One of the true hard facts for every cryptocurrency is that you can not cancel or revert a transaction. Once you submit a transaction, it is irreversible. You need to double and triple-check the address you are sending your coins. Failing to do so will result in a total loss of your funds. There is no way to retrieve misplaced funds in crypto and no customer support to assist you on matters like this.
❌ Withdrawal Limitations
Bitcoin Cash may support breakneck speeds. But it does not mean that your bookie will, especially when it comes to your withdrawals. You should always read the withdrawal policies before making a deposit. There are cases in which Bitcoin Cash Sportsbooks process withdrawals manually, so you will need to wait a couple of days. Also important to note that it is almost certain you can only withdraw in the cryptocurrency you have deposited.
❌ Crypto is for advanced users
There is a learning curve in crypto which is rather steep. You need to learn to do things as deposits, withdrawals, transactions in a new way and be very mindful of certain security pitfalls. Even though it is not a science, you need to familiarize yourself to get the hang of it.
Is Bitcoin Cash sports betting safe?
Yes, Bitcoin Cash sports betting can be safe, provided you follow some ground rules. Make a habit to always play with trusted bookmakers. They must have a license, offer good bonuses, utilize responsive customer service at least in chat & email. A great variety in markets and bets offered is also vital. Then, there are thoughts about law and taxes.
☝ Legislation around Bitcoin Cash gambling
Regarding gambling, it is a bit vague but depends on age & gambling laws in your region. Also, keep in mind that legislation is ok as long as you play at a trusted bookie, but in general, if the bookie is accessible to your country, it’s probably OK to use it.
☝ Do I pay taxes using a Bitcoin Cash Sportsbook?
This subject, too, is uncertain given the decentralized aspect of cryptocurrencies, including Bitcoin Cash. It is very difficult to apply taxes to crypto, given they do not actually belong to any country or entity. For the time being, you are safe if you approach it as any potential taxation coming from gambling winnings. When in doubt, always consult a professional.
How to Go About BCH Gambling
We understand that it may seem challenging and you may be struggling with where to start in BCH gambling at first. That is why we have prepared some essential information and practical steps which will help you understand the basics of BCH gambling in no time. Remember, it is not rocket science and this process is more straightforward than you think. You just need to follow some basic steps correctly each time.
Bitcoin Cash is a clone, more precisely a hard fork of Bitcoin, founded in 2017. BCH stemmed from some founding members from the heart of the Bitcoin community, who believe Bitcoin can no longer be the everyday digital currency. That is why they split up and created their own version, Bitcoin Cash. Through some technical tweaks, BCH achieves a faster speed than BTC, along with lower fees. Bitcoin Cash has received some criticism for the possible security issues larger blocks entail and the less data needed to confirm a transaction.
Moreover, some say that BCH can achieve such low-cost fees because it does not nearly have the adoption BTC does, therefore its network has not been tested appropriately to see if funds will remain so low. Nonetheless, gambling/betting sites, primarily casinos, added Bitcoin Cash as an option very soon after its creation in 2017. Despite the young of its age, Bitcoin Cash is a top 10 coin, and it should become more common as a deposit/withdrawal option in Bitcoin Cash gambling sites.
You could already own some BCH
The way forked code works in crypto is that if you hold any amount of the coin which gets forked at a particular point in time, you automatically receive the equivalent amount in the new coin. With Bitcoin Cash in particular, that point in time was during the summer of 2017. So, if you were holding any amount of BTC in your personal wallet at that time, then you could already own some BCH too. Then, there is the fork that BCH itself underwent in November 2018.
Bitcoin Cash and the Bitcoin SV fork
Basically, what happened is that again, there was some disagreement within the Bitcoin Cash community. Backed by formidable supporters, led by the infamous investor and gambling sites owner, billionaire Calvin Ayre, a new fork was performed, this time on the Bitcoin Cash code. That resulted in Bitcoin SV, short for Satoshi Vision, whose supporters claim it is closer to the Bitcoin founder’s vision of BTC. You should not confuse Bitcoin SV with either BCH or BTC. They are two entirely different coins. So far, Bitcoin SV has received lukewarm support from the community and is certainly not available in any Bitcoin Cash gambling sites.
How to Buy BCH and Deposit at betting sites
The safest and most reliable way to acquire some Bitcoin Cash is from reputable exchanges such as Kraken, Binance and Coinbase. That way, liquidity will never be an issue, which is essential. Otherwise, you could end up with coins you can not sell. Then, simply follow the following simple steps:
- 1 Open an account. You may not need KYC if you trade up to a certain amount
- 2 Deposit your (euro, pounds, dollars)
- 3 Buy some Bitcoin Cash, then transfer it to your digital wallet.
- 4 Pick the Bitcoin Cash Sportsbook you like and sign up for an account; in most cases, you only need an email address to register.
- 5 In the deposit section, select BCH. Copy the unique address generated there. Always carefully check the address you are depositing crypto.
- 6 Go back to your personal wallet and paste the above address. Confirm the transaction.
- 7 That’s it. Within minutes, you have funded your account and you can now start betting.
How to Withdraw from BCH betting sites
The process for withdrawing is pretty simple and similar to the deposit. Keep in mind that it is highly you will need to go through some KYC verification at this point. In any case, just follow the steps below:
Go to withdrawals.
Using the same process as deposits but in reverse, send your gains back to your wallet.
You can now either store your BCH or go to a trusted exchange and trade it for anything, whether crypto or fiat.
What other games can you play with BCH gambling
As usual, casinos are the pioneers in adopting new payment methods. It could not be different in the case of BCH, which is a very new coin. The reason for this adoption is that, despite the young age, Bitcoin Cash has the positive characteristics we described earlier. The increased speed of transactions and the negligible fees, especially compared to Bitcoin and Ethereum, are very appealing indeed. When searching for a crypto casino, it is best to weed out the scams by checking out which ones have been around for a while and have a good reputation and active support via email and chat. Great bonuses and provably fair games make for a robust combination. Some of the most common gaming options you will find are Live Dealers, Slots, Jackpots, Video BlackJack so much more.
Is BCH gambling worth it after all
Bitcoin Cash has spawned off a conflict within the original Bitcoin community. But this does not change the fact it is a formidable option for gambling. Its fast processing speed on deposits and withdrawals, along with the very cheap fees for every transaction, make BCH an invaluable addition to your crypto options for betting. Despite some shortcomings as a new coin and accusations of being a cheap Bitcoin clone, I strongly recommend Bitcoin Cash as a payment option. It is a top 10 coin, follows the legacy of Bitcoin and the people behind it are part of the original community of BTC. Bitcoin Cash Gambling sites are only getting bigger and there is no better time to start betting along with them.
If you believe that BCH has the same potential as BTC, then yes, it is an excellent investment. If you think it is just a BTC clone and nothing more, then no, it is not a great investment.
In theory, Bitcoin Cash is faster and cheaper than BTC. However, the BCH network has not been tested at a workload nearly as heavy as Bitcoin is. Meaning, we do not know how its speed and fees will transform if so.
Bitcoin Cash may very well have a future, provided it gets a certain portion of the adoption Bitcoin is currently enjoying. With better speed and less fees, this is not unlikely to happen.
Yes, Bitcoin Cash is faster than BTC. It was designed to be faster too. Nowadays, if you opt for a transaction with the exact same fees on each of them, the BCH transaction will go through in minutes, whereas the BTC transaction may be stuck for days, weeks even.
Look no further than our list in this article. Our team has made sure to include only the trusted options but also the best overall performance; from great odds offered, robust customer support in chat and email to up to 400,000 bets in 1500+ markets.