Best Monero Bookmakers 2021
Monero is a decentralized cryptocurrency and an e-wallet that allows you to quickly and effectively fund your online account on the best sports betting sites in addition to many other functions. The payment system has been operating since 2014. Given it has its own native currency (XMR), the Monero service allows you to open an account, more precisely a wallet, where you can store it. There are some countries in which Monero is banned or its use restricted. For instance, Japan openly took action on limiting its use. But, in practice, there are no geographical restrictions in this regard.
Seven Steps to Deposit and Withdraw
To create a new Monero e-wallet, you need to complete the steps on the list that follows: download the wallet from the AppStore or Google Play, sign up with your email (mobile phone number, Google, or Facebook account), and set a strong password and PIN code. Then go to the exchange and purchase XMR. Users can top up their Monero account this way:
- Login to your wallet
- Click the “Deposit” button
- Select Monero from the “Deposit to” dropdown menu
- Click the “Show address” button
- Open your own Monero wallet and find a “Send” button
- Copy and paste your deposit address to your Monero wallet
- Confirm the transaction within your Monero wallet to see your deposited funds in your wallet.
The process for withdrawal of XMR also consists of the same steps with the difference that on the fifth step you choose “Withdrawal” instead of “Send”. The main advantage of Monero is that it is one of the few cryptocurrencies that is truly untraceable.
Depositing Procedure on Monero Bookies Is Considered Complicated
The procedure of depositing on the Monero sportsbooks is more complicated than with other cryptocurrencies or any other payment methods: You will first have to register for an account in one of your favorite Monero betting sites. Then, deposit your fiat money, buy some XMR, and transfer it to your digital wallet. Pick the Monero betting site of your preference and sign up for an account (you only need an email address for this). Go to deposits and select XMR. Copy the unique address generated there. Always triple-check the address you are depositing crypto at a Monero sportsbook. Go back to your personal wallet, paste the above address, and confirm. To withdraw money at bookmakers – sign in, go to withdrawals, use the same process as deposits but in reverse, and send your gains back to your wallet.
Monero betting manages to provide fully private transactions, which are untraceable and unhackable. It is impossible for a third party to identify or trace any XMR transactions.
Due to their decentralized nature, they are not restricted to one country. That means you can use Monero and place a bet from anywhere.
Yes, they are, but it is important that you find trusted bookmakers that accept Monero (XMR).