Bhavin Vasa
Sports journalist. Big cricket and football fan. Been writing sports news for many years and now developing my own sports and betting website with honest and professional reviews.
Cryptocurrency for Indian Players: Fast and Aonymous Betting Payments
The rise in popularity of Bitcoin in the second half of 2017 became the reason why Indian bookmakers started developing crypto betting sites. In 2024, Indian users can top up their accounts and withdraw their profits with BTC, ETH, BNB, XRP, ADA, SOL, DOT, DOGE, LTC, LINK, and many other coins.
On average, over 10 blockchain options are available on Indian sites. Come to know detailed information about the most notorious coins and discover what are the best Ethereum betting sites.
List of Betting Sites That Accept Cryptocurrency Deposits
Cryptocurrencies are a viable method to use for deposits and withdrawals in India. Discover the best Bitcoin betting sites in 2024 that also accept other currencies, such as Ethereum, Litecoin, Dogecoin, Tether, and much more.
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1
 4raBet
Welcome bonus 600% welcome bonus up to ₹60,000 |
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2
 Batery
Welcome bonus 200% with a limit of ₹25,000 |
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3
 Melbet
Welcome bonus 100% up to ₹20,000 |
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4
 Satbet
Welcome bonus 100% up to ₹10,000 |
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5
 BC.Game
Welcome bonus 1st deposit bonus 270% up to 20,000 BCD |
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6
 Paripesa
Welcome bonus 100% up to ₹8,000 on the first deposit |
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7
 Megapari
Welcome bonus 130% up to ₹39,000 with using a promo code |
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8
 Dafabet
Welcome bonus 160% up to ₹16,000 for new players |
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9
 Mostbet
Welcome bonus 125% up to ₹25,000 +250 FS on first deposit |
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10
 1xBet
Welcome bonus 100% up to ₹20,000 |
About Cryptocurrency
Cryptocurrency is a modern alternative to classic payment instruments, improving the anonymity and authenticity of transactions through blockchain technology. Have a look at the most popular sports betting cryptocurrency types and their key features.
| Cryptocurrency | Transaction Speed | Number of Crypto Coin Owners |
|---|---|---|
| Bitcoin (BTC) | 10 minutes | 200+ million |
| Ethereum (ETH) | 15 seconds | 200+ million |
| Binance Coin (BNB) | 1-2 minutes | 40+ million |
| XRP | 3-5 seconds | 5+ million |
| Cardano (ADA) | 20 seconds | 4+ million |
| Solana (SOL) | 2-3 seconds | 10+ million |
| Polkadot (DOT) | 6 seconds | 2+ million |
| Dogecoin (DOGE) | 1 minute | 4+ million |
| Litecoin (LTC) | 2.5 minutes | 10+ million |
| Chainlink (LINK) | 5-10 seconds | 1+ million |
Pros and Cons of Cryptocurrency
Bitcoin betting sites and other coins come with certain benefits and drawbacks that users must be familiar with. Figure out whether cryptocurrencies are a suitable method for deposits and withdrawals on betting sites for you.
Pros
- Deposits and withdrawals using cryptocurrencies are processed fast;
- Transaction fees with cryptocurrencies are typically lower than those charged by traditional financial institutions;
- Blockchain technology offers secure transactions, reducing the risk of fraud;
- Cryptocurrency transactions can be completed at any time of day.
Cons
- Cryptocurrencies can be highly volatile, leading to fluctuations in the value;
- Users may encounter technical issues with cryptocurrency wallets or exchanges, which can affect their ability to deposit or withdraw funds.
Is Cryptocurrency Legal as a Payment Method in India?
The regulatory environment for cryptocurrencies in India is uncertain and subject to change. The Reserve Bank of India (RBI) had previously imposed a banking ban on cryptocurrencies, but the Supreme Court lifted this ban in 2020. The Indian Revenue Service may require users to pay a 30% charge from their winnings in crypto betting apps.
The Most Popular Cryptocurrencies
For over 14 years of cryptocurrency existence, specialists have identified promising tokens by researching transfer periods, exchange rate stability, and processing fees. For crypto betting, the best ones are:
- Bitcoin;
- Ethereum;
- Litecoin;
- Dogecoin;
- Tether.
Bitcoin
Bitcoin is the world’s first widely adopted cryptocurrency. Bitcoin enables safe and seamless peer-to-peer transactions on the Internet. Coins were developed by Satoshi Nakamoto in 2008.
Pros
- Instantaneous payments with low transaction costs;
- Specific technologies hide the identities of Bitcoin users from unknown parties and prevent illegal access;
- An enormous rise in Bitcoin’s value;
- Every Bitcoin transaction is visible on an openly distributed ledger, making unauthorized changes difficult.
Cons
- You can’t get your money back, once you send/deposit them;
- Transaction fees can become expensive during periods of network congestion.
Ethereum
Ethereum is the second-biggest cryptocurrency by market cap after Bitcoin. ETH is currently secured by the Ethereum blockchain using a technology called «Proof of Stake».
Pros
- Thanks to an active Ethereum community, users can solve their transaction problems swiftly;
- The Ethereum network is resistant to censorship and manipulation;
- All transactions executed on Ethereum are recorded on a public ledger, allowing users to track them anytime they want;
- Due to the decentralized Ethereum network, third parties do not have access to the transaction history.
Cons
- Ethereum’s growing popularity has led to higher transaction costs;
- Ethereum struggles with scalability, leading to slower transaction speeds.
Litecoin
Litecoin (LTC) is a cryptocurrency that shares main features with Bitcoin but runs a different mining algorithm. Litecoin was made by a former Google engineer named Charlie Lee in 2011. Litecoin has a faster transaction processing time than Bitcoin and a more extensive coin cap.
Pros
- Litecoin offers swifter transaction times compared to Bitcoin;
- The Litecoin network is more secure and less susceptible to manipulation;
- Using Litecoin provides more anonymity compared to traditional banking methods;
- LTC is open-sourced and decentralized.
Cons
- Litecoin cannot match the security and Store of Value properties of Bitcoin;
- Wealth centralization is higher than in Bitcoin.
Dogecoin
Dogecoin (DOGE) is an open-source peer-to-peer cryptocurrency made by software engineers Billy Markus and Jackson Palmer. DOGE was created as a joke with the Shiba Inu logo. This changed in 2021, as Dogecoin became one of the ten biggest currencies in the world.
Pros
- There is an unlimited amount of DOGE on the market at all times, with no maximum supply;
- Compared to Bitcoin, Dogecoin transactions have lower processing fees;
- Dogecoin has a shorter block generation time than many other cryptos, which means transactions are confirmed faster;
- Dogecoin has a strong and friendly community.
Cons
- Dogecoin is technically not as advanced as many other cryptocurrencies;
- The value of DOGE fluctuates significantly within a short period of time.
Tether
Tether (USDT) belongs to iFinex – a company situated in Hong Kong that also owns the crypto exchange BitFinex. Unlike other cryptocurrencies, USDT is a stable coin, fluctuating in value with the US dollar and backed by Tether’s dollar reserves.
Pros
- USDT is a reliable choice as it is pegged to the U.S. dollar;
- Tether is a popular coin accepted by almost every cryptocurrency wallet;
- Tether publishes regular reports on its reserves, providing full information about the backing;
- Transactions with Tether often come with minimal fees compared to traditional banking methods.
Cons
- Tether’s value is dependent on the stability of the US financial field;
- Users may face challenges or delays when redeeming Tether for fiat currency, particularly in large amounts.
How to Use Cryptocurrency on Betting Sites in India?
Betting with cryptocurrency does not differ much from depositing with standard fiat funds. What you have to do is:
- Pick a betting site that is cryptocurrency-friendly. Our compilation of the best sites in India is within your reach.
- Set up a cryptocurrency wallet in case you don’t have one.
- Buy cryptocurrency from an exchange and transfer it to your wallet.
- Top up your account for sports betting with crypto.
- Browse the betting markets and put up a stake in the chosen event.
How to Open a Cryptocurrency Wallet?
Making a wallet to hold cryptocurrencies is an effortless task. This is a detailed how-to:
- Decide whether you want a web, hardware, or software wallet. Software wallets like Binance, Trust, or Exodus are suggested for newbies.
- Visit the wallet’s website or download an iOS or Android app.
- Find the register button and provide the details that are needed in the form.
- Make sure the password you use to access your wallet is strong.
- Safely keep the backup phrase or recovery seed.
- Complete the identity verification at payment platforms like Binance, by providing your name, address, and government-issued ID.
- Receive cryptocurrency from an exchange or another wallet.
How to Deposit Using Cryptocurrency?
Sports betting crypto sites automatically convert a particular coin into Indian rupees without charging fees for it. Refilling the betting balance can’t be simpler:
- Sign in to the website or crypto betting app.
- Go to the banking section and have a look at available cryptocurrency options.
- Select a desired token.
- Receive a unique wallet address for the transaction.
- Open your cryptocurrency wallet and send the desired amount to the indicated address.
How to Withdraw Using Cryptocurrency?
Most crypto betting platforms allow Indian users to withdraw their winnings free of commissions. Using blockchain-based methods, bettors can cash out their profits in the following way:
- Log into your account on cryptocurrency betting sites.
- Visit the Payment section.
- Click on one of the cryptocurrencies to choose it as a withdrawal instrument.
- Input the wallet address in the needed field, and then indicate the desired cash-out amount.
- Confirm receipt of the coins. The transaction processing period varies from 1 minute to 24 hours.
Cryptocurrency Commissions
Commissions on betting sites with crypto are erratic and mostly reliant on shifts in the currency market. Check out the table to see the estimated commissions for the top ten cryptocurrencies in India.
| Cryptocurrency | Symbol | Typical Transaction Fee (INR) |
|---|---|---|
| Bitcoin | BTC | ₹82 – ₹410 |
| Ethereum | ETH | ₹82 – ₹820 |
| Binance Coin | BNB | ₹8,20 |
| XRP | XRP | ₹0,0164 |
| Cardano | ADA | ₹16,40 |
| Solana | SOL | ₹0.0205 |
| Polkadot | DOT | ₹8,20 – ₹24,60 |
| Dogecoin | DOGE | ₹8,20 – ₹41 |
| Litecoin | LTC | ₹0.82 – ₹8,20 |
| Chainlink | LINK | ₹82 – ₹246 |
Security and Safety of Cryptocurrency
Cryptocurrency is secured by cryptography. This encryption makes it impossible to double-spend or counterfeit. In addition to requiring a username & verification code, cryptocurrency wallets also use blockchain technology which stores data in blocks that are linked together in a chain. Other security measures implied by crypto sports betting sites include:
- Two-Factor Authentication (2FA);
- SSL Encryption;
- Cold Storage for Funds;
- DDoS Protection;
- IP Whitelisting;
- Anti-Phishing Measures.
The Most Popular Cryptocurrency Wallets
Indian bettors who want to spend their time on the best crypto sports betting sites in India need to think about riskless wallets where they can store their coins. The TOP 3 reliable variants are:
- Binance Wallet;
- Trust Wallet;
- Exodus Wallet.
Binance Wallet
Binance is a popular wallet with more than 350 tradable cryptocurrency options and low fees. This wallet belongs to the Changpeng Zhao company and is based in China.
Security measures of Binance are strong. Tools include two-factor authentication via the Google Authenticator application or SMS messages, address whitelisting, device management, and the ability to restrict device access.
Trust Wallet
Trust Wallet is another project from Binance, where Indians can purchase, sell, store, swap, and manage their cryptocurrencies. This service was created in 2017 by Viktor Radchenko, mainly for administering Ethereum and ERC20 tokens.
Now, Trust Wallet accepts 10M+ crypto assets across 100+ blockchains. The mobile app has been downloaded more than 100 million times.
Exodus Wallet
Exodus Wallet is an excellent choice for Indian users who want a central location to manage their cryptocurrencies across various blockchains. Over 50 blockchains and thousands of tokens are supported. Exodus Wallet has an Android & iOS application, as well as a desktop client. There is also a browser extension available on Chrome and Brave browsers.
Sports Betting with Cryptocurrency
Betting with cryptocurrencies in India is not something new, as a lot of bookmakers accept stakes in coins. Compared to traditional banking methods, cryptocurrencies have lower transaction fees and warrant complete anonymity. The best disciplines on top crypto betting sites are:
- Cricket;
- Football;
- Kabaddi.
Cricket
Cricket is a bat-and-ball game played between two teams of eleven players. Indians can put up their stakes on various aspects including the match winner, top run-scorer, or the number of wickets taken. There are a lot of crypto cricket betting sites in India that allow their users to make their bets on the following tournaments:
- Indian Premier League (IPL);
- ICC Cricket World Cup;
- ICC T20 World Cup;
- Border-Gavaskar Trophy;
- Asia Cup;
- Ranji Trophy;
- Syed Mushtaq Ali Trophy;
- Vijay Hazare Trophy;
- Indian ODI Series;
- Indian T20 Series.
Football
Football is a team sport played between two groups of eleven players. The main task is to score more goals than the opposing team. On crypto sports betting sites, various betting markets are available, including the match winner, over/under goals, correct score, half-time/full-time, and others. As for the most popular competitions in India, these are:
- English Premier League (EPL);
- UEFA Champions League;
- FIFA World Cup;
- UEFA Europa League;
- La Liga;
- Serie A;
- Bundesliga;
- Indian Super League (ISL);
- Copa Libertadores;
- Copa America.
Kabaddi
Kabaddi is a contact team sport played between two teams of 7 players, originating in ancient India. The teams play on opposite sides of a field or court, with their main target being crossing into each other’s side and tagging as many players as possible. For sports betting with cryptocurrency, Indians choose the following tournaments:
- Pro Kabaddi League (PKL);
- Kabaddi World Cup;
- Asian Kabaddi Championship;
- National Kabaddi Championship;
- Super Kabaddi League (SKL);
- All India Kabaddi Championship;
- Federation Cup Kabaddi;
- Senior National Kabaddi Championship;
- Junior National Kabaddi Championship;
- Women’s Kabaddi Challenge.
eSports Betting with Cryptocurrency
eSports represents the competitive side of video gaming. Indians watch how their favorite players compete in a wide array of gaming genres, from first-person shooters to multiplayer online battle arena (MOBA). Betting sites that accept crypto always offer their users the following eSports disciplines to place their stakes on:
- DOTA 2;
- CS:GO;
- League of Legends.
DOTA 2
DOTA 2 is an RTS-styled MOBA-type competitive team game with RPG elements. Two teams of five members (Radiant and Dire) compete against each other and try to destroy the base of their rivals. DOTA 2 currently features 124 heroes, making it a popular choice for cryptocurrency eSports betting. Have a look at the most famous tournaments in India:
- The International;
- Dota Pro Circuit (DPC) Majors;
- ESL One;
- Dream League;
- ONE eSports Dota 2 World Pro Invitational;
- OGA Dota PIT;
- EPICENTER;
- MDL (Mars Dota 2 League);
- Beyond the Summit (BTS) Series;
- We Play Dota 2 Tournaments.
CS:GO
Counter Strike is a multiplayer tactical first-person shooter developed by Valve and Hidden Path Entertainment in 2012. There are a total of 34 weapons players can use to fight against their opponents to win in rounds. The most notorious eSports betting cryptocurrency CS:GO tournaments in India are:
- ESL Pro League;
- Intel Extreme Masters (IEM);
- BLAST Premier;
- PGL Major;
- DreamHack Masters;
- StarLadder & i-League StarSeries;
- EPICENTER;
- ELEAGUE;
- Flashpoint;
- FACEIT Major.
League of Legends
League of Legends is another Multiplayer Online Battle Arena video game released by Riot Games in 2009. Players work with their team of five members to break the enemy Nexus before the rivals break theirs. There are 168 champions to select from. The following tournaments are popular for eSports crypto betting in India:
- League of Legends World Championship (Worlds);
- Mid-Season Invitational (MSI);
- League of Legends Pro League (LPL);
- League of Legends Champions Korea (LCK);
- League of Legends European Championship (LEC);
- League of Legends Championship Series (LCS);
- League of Legends Master Series (LMS);
- Campeonato Brasileiro de League of Legends (CBLOL);
- Pacific Championship Series (PCS);
- Turkish Championship League (TCL).
Conclusion About Cryptocurrency as a Payment Method on Indian Betting Sites
Cryptocurrencies are a convenient system for payments, allowing bettors to maintain their anonymity, high transaction speed, and low fees. When deciding to place stakes on online crypto cricket betting sites using coins, avoid purchasing cryptocurrencies from unreliable exchangers because of the high risk of fraud.
Frequently Asked Questions
Do Indian Crypto Betting Sites Offer Bonuses?
Yes. Ethereum betting sites and other bookmakers always offer their users a sign-up present, along with perks for loyal players, including reload bonuses and cashback.
Are Personal Information Required for Crypto Betting in India?
There is no need to share individual data with betting sites crypto. Players can send coins to their accounts by simply entering the indicated address in the recipient field and entering the deposit amount.
How to Choose a Website for Safe Cryptocurrency Betting in India?
Ensure that the site holds a license from a reliable control body and is regularly tested by independent audit institutions.
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