Yes, you can. Several betting sites accept bitcoin as a deposit method. On crypto-only bookmakers, you can even use the cryptocurrency within your bankroll and place your bets in BTC amounts
Yes, the price of BTC fluctuates. So, when using crypto-only bookmakers, regardless of whether your bitcoin is in your wallet or in your bookmaker account, you are exposed to the changes in value and, consequently, your credit. On the other hand, if you are using a hybrid bookie, most of them convert your deposit in USD as soon as you make it to protect you from volatility.
It all comes down to whether betting is illegal in the country you are accessing from.
In a sense, yes. All new financial assets are volatile and you can not yet know what will happen to them. This is because the market basically has yet to decide its value, which will lead to a less volatile price in the years to come.
Use your bitcoin wallet to send funds to the address generated in the bookmaker. Do the same process in reverse to withdraw your bitcoin from the sportsbook’s wallet to your personal one
Nowadays, it is true that there are fewer differences between odds on fiat bookies and crypto betting sites
Choose between a hot wallet (accessible online only, less security, more flexibility and speed) and a cold wallet (accessible offline, maximum security, less flexibility and speed). It all comes down to convenience versus safety.
mBTC or millibitcoin is a unit to measure Bitcoin. It is equivalent to 0.001 Bitcoin.
Used to measure even smaller amounts of Bitcoin than mBTC, Satoshi (sat) takes its name from bitcoin's creator Satoshi Nakamoto (alias), a satoshi smallest amount within bitcoin representing 0.00000001 BTC.
No. If you send your Bitcoin to the incorrect address, you lose it forever. There is no way to reverse a bitcoin transaction, so be extremely careful and always double-check your sending address.