A beginner’s guide to the best meme coins for sports betting
As more sports punters started to look for a convenient way to place bets, online sports betting rose to success. Thanks to the convenience of online sports betting, punters can now support their favourite teams and players without leaving the comfort of their homes.
With hundreds of online bookmakers offering their services to cater to all types of punters, engaging in sports betting is easier and more convenient than ever before. How to bet using a meme coin? All you have to do is choose the best online crypto bookmaker, sign up, and connect your crypto wallet to your betting account.
What punters love the most about online sports betting is the wide range of payment options to choose from. With payment options such as crypto, depositing and withdrawing are made safer and faster. Due to the success of crypto, online bookmakers such as Sportsbet betting site offers a wide selection of crypto betting options such as Sportsbet Bitcoin and meme coins.
Aside from the usual coins, meme coins became one of the go-to options for sports betting. Meme coins became popular since they are not only accessible but also easy to use when betting on sports.
If you are new to meme coins, here’s a guide on what meme coins are:
What are meme coins and how do they work?
Meme coins are digital currencies that draw inspiration from online jokes and memes. For instance, the Doge meme that was based on a Shiba Inu viral photo served as the inspiration for Dogecoin. These coins often aren’t meant to be taken seriously, but as they grew more successful and more people started investing in them, their value started to grow.
How do meme coins work? Meme coins operate the same as other digital coins. The only difference is that they are less technical since they are based on memes. Just like popular coins such as Bitcoin (BTC), meme coins can also be bought, sold, and traded.
Can you use meme coins for sports betting?
Since meme coins are a type of crypto, meme coins such as Dogecoin (DOGE) can be used to place bets on your favourite sports teams and players. Various punters love to use meme coins for sports betting because they are hassle-free to use. After choosing a safe and secure crypto wallet, deposit your Dogecoin and link it to your sportsbook account to start betting.
For the best sports betting experience using meme coins, it’s crucial to find the best online bookmaker that offers the sports betting options you need.
4 popular meme coins for sports betting
As meme coins became more popular worldwide, more types of meme coins were introduced to the public. Now, there are hundreds of meme coins to choose from that you can use for online sports betting. Some of the most popular meme coins include:
Dogecoin (DOGE)
Dogecoin (DOGE) is known to be one of the first meme coins ever created and is also the most successful thanks to Elon Musks’ recognition of the coin. DOGE was made by developers Billy Markus and Jackson Palmer in 2013 and first started as a prank. The developer’s main goal was to reach a wider audience through the coin and not to create a valuable digital asset.
DOGE was inspired by the Shiba Inu meme and immediately became popular and recognized by people worldwide. Since DOGE became a success, it first served as a diversion from all the crypto problems in the market during the time it was released.
As DOGE’s value surged by 300% after 72 hours of its inception, the value of other digital coins also rose. With this, DOGE was no longer seen as just a meme coin but also one of the most valuable digital assets today.
Shiba Inu (SHIB)
Another popular meme coin is Shiba Inu (SHIB). This coin is an Ethereum network-based ERC-20 coin that uses smart contracts which are crucial to the development of decentralised finance (DeFi) products. With this, Shiba Inu can use smart contracts to auction non-fungible tokens (NFTs) and also establish an independent NFT market.
What users love the most about SHIB is that it has its own decentralised exchange (DEX) platform known as ShibaSwap. Thanks to this, the coin does not have to rely on other outside organisations to function. At first, SHIB was not made to have any value and was only made for fun. However, just like DOGE, the coin grew to success and became one of the most valuable meme coins you should consider investing in.
Vita Inu (VINU)
Vita Inu (VINU) is meant to be the first fast and cost-free dog-themed coin in the market. Its ecosystem was first established in 2021 by Elemont that promises to complete more transactions per second (TPS) and improve smart contract performance.
The meme coin’s team aims to create a crypto universe within the VINU environment. Including custom NFTs, partnerships with crypto payments, and mini-games. Due to this, VINU expanded to grow more and is expected to become one of the most invested meme coins.
MonaCoin (MONA)
MonaCoin (MONA) was first established in 2013 and was officially released a year later. It is one of the oldest meme coin projects inspired by an ASCII cat-shaped Japanese character. What sets MONA from other meme coins is that MONA is a popular and successful form of currency in Japan.
Due to its success, the Japanese yen can be used at smart ATMs to purchase MonaCoin. As more investors started taking an interest in the coin, MONA soon became widely accepted in both offline and online retailers in Japan. The Japanese Financial Service Agency has also accepted MonaCoin which enhances the token’s legitimacy. Thanks to its reputation, MONA also became one of the most preferred meme coins when it comes to sports betting.
Benefits of using meme coins for sports betting
Meme coins are not only popular due to being fun but also because of the benefits it offers. Just like other digital coins, using meme coins for sports betting entails not only safer but also faster transactions.
Some of the top benefits of using meme coins for sports betting include:
Security
One of the benefits of using meme coins when it comes to sports betting is the utmost security that it offers. Meme coins are decentralised and run through peer-to-peer exchanges. Thanks to this feature, there are fewer crypto scams and frauds. Additionally, one of the top crypto predictions in 2023 is pushing for a more private and secure space in the industry. So whether you use meme coins in sports betting or other transactions, your assets are exposed to less risks.
Meme coins are not only accessible but also offer secure transactions that are not easy to be meddled with since it runs on blockchain technology. By using meme coins for sports betting, punters can place wagers with confidence knowing their funds are secure.
Higher betting and withdrawal limits
The betting and withdrawal limits vary depending on the sportsbook, but most allow punters to place large bets and make larger withdrawals when they bet using meme coins. Of course, sports betting still entails being wise with your bets and setting a budget. If you have the money to spend and you don’t want to be restricted by betting limits, meme coins are often the best way to do so.
Faster transactions
Sports betting with meme coins also allows you to place bets and withdraw funds faster than other forms of currency. Most online bookmakers are often fast when it comes to completing transactions, unlike those made with fiat currency which might take business days to finish. Meme coins and other coins allow you to experience faster and hassle-transactions.
Accessible
One of the major benefits of using meme coins for sports betting is that they are highly accessible and easy to use. Most renowned online sportsbooks offer various types of crypto such as DOGE and SHIB as one of their payment methods. With this, it’s easy to support your favourite teams and players using meme coins. Who knows? You might take home a huge amount of payout.
Frequently asked questions about meme coins
If you’re new to using meme coins for sports betting, it’s crucial that you learn more about how they function and which coin is the best for you. To help you know more about meme coins, here are the answers to some of the frequently asked questions:
- Where to buy meme coins?
You can buy meme coins through crypto exchange platforms and other online markets. Some of the most popular meme coins even have their own websites where you can purchase them.
- Are meme coins volatile?
Since meme coins are a type of cryptocurrency, they are also volatile.
If you are planning to use meme coins for online sports betting, it’s crucial to only choose a licensed and regulated platform such as the Sportsbet betting site. On renowned sportsbooks like Sportsbet, you not only get access to a variety of payment methods such as Sportsbet Bitcoin but also a wide range of sports betting options to choose from.
