Many of the best esports betting sites now offer crypto betting for their customers and what a week it has been for converts of online currencies.
While Bitcoin peaked a few months back at a record price, it has struggled to climb back up to those levels in recent times. However, a different cryptocurrency Ethereum has experienced a huge surge in interest, peaking at a new record price of $3,400.
It is an incredible surge for the second-biggest form of cryptocurrency as by the turn of the year, it had not broken $500 in value and lagged some way behind Bitcoin.
That massive increase in value means that creator Vitalik Buterin’s personal wealth has risen to over a billion dollars, making Ethereum’s parent company more valuable than the likes of Bank of America or Disney.
Since January, Bitcoin’s price has doubled, in the same time, Ethereum’s value has increased almost seven times as much.
So if you are interested in any form of crypto esports betting, are you better off using Ethereum as your choice of crypto or should you keep betting with bitcoin?
Previous altcoin rally started when #BTC closed weekly below 50% for the 1st time in history (Dec 18, 2017).$BTC has just closed below 50% again (see chart). This is bullish for $ETH and alts. #ETH reacted by jumping +12% & reaching $3.3k today. pic.twitter.com/monpuevTfg
— Weiss Crypto (@WeissCrypto) May 3, 2021
Ethereum Vs Bitcoin For Esports Betting
So when it comes down to a choice of Ethereum or Bitcoin for esports betting, which one offers you the best choice?
In essence, you are looking at two different factors here when you consider this. The first is the potential future value of any cryptocurrency investment you make, either in Bitcoin or Ethereum and the second is how widespread it is that esports betting sites will accept either of the currencies.
To answer this question, we’ll address the second issue first. The good news on this front is that many of the top esports betting sites, especially those that are specialist in esports betting and cryptocurrency betting, will accept bets made in both Bitcoin and Ethereum.
Not only that, but sites will also accept many other forms of crypto too, such as Dogecoin or Litecoin to name but two.
So, a good search of the best crypto-friendly esports betting sites will likely turn up an excellent choice for any prospective esports punter wanting to use their cryptocurrency to bet with.
However, the answer as to which out of Bitcoin or Ethereum offers the best investment over the longer term, in terms of future value of your cryptocurrency, is more difficult to ascertain.
On a positive note, both currencies have rocketed in value over the last few months and there is no sign that prices for cryptocurrency are likely to drop massively in the near future. However, that does not mean that they won’t fall. The volatility of cryptocurrency markets is such that nothing can be sure in terms of the future value of your investment.
It is also hard to say whether either has reached their ceiling in terms of value. It seems more likely that Bitcoin has, as its value still dwarves that of Ethereum, but they said that Bitcoin had maxed out its value last year and it has doubled in value in 2021 alone.
However, you cannot ignore how well Ethereum has performed and when looking at the future value of your investment, Ethereum does seem the better choice now. However, in the world of cryptocurrency, just as in the world of esports betting, nothing is ever certain.