The rapidly changing and evolving online betting world has now been thrown another game changer: cryptocurrencies. Bettors may bet on their favorite sports, including wrestling, in a safe, anonymous, and efficient way. There are so many cryptocurrencies in the world, and all come with different features and advantages, so it might become overwhelming to choose one for wrestling bets. This article tries to bring to the front the leading cryptocurrency to consider in 2024 for bets on wrestling matches and a few alternative options with their salient features.

Ethereum (ETH)

Ethereum (ETH) is one of the very best when it comes to cryptocurrencies for wrestling betting. It provides a series of features and benefits that the bettor and the sportsbook will find very attractive. And with it came the magnificent technology—the ‘smart contracts’—and really speedy transaction-making. Each bet at Ethereum betting sites is amazing and secure. Let’s give a highlight to some of the main benefits that come with using Ethereum to bet on wrestling:

  • ETH Smart Contract Technology: This is, in fact, an Ethereum blockchain-derived platform for scripting smart contracts. These are self-executing contracts in which the terms from both interacting parties are directly programmed onto a computer. Decentralized applications (DApps), such as sports betting platforms, hence, have a mechanism by which they can eliminate or reduce transparency and intermediaries in their system.
  • High Transaction Speeds: Ethereum has very high transaction speeds, where transactions are facilitated from as low as seconds to minutes. This allows the depositing process of the money to be bet by the players within no time, hence avoiding undue delays or what is commonly referred to as ‘lagging’ of the games.
  • Ethereum Scalability: Ethereum has seen sustained attempts to enhance scalability and the enormous volume of transactions that accompany them. One of the attempts along this line is Ethereum 2.0, which seeks to accommodate more transactions per second and is projected to address another major issue: gas fees. This will go a long way to support the large volumes of transactions that come with sports betting.
  • Wide Adoption: It is apparently clear that Ethereum has a wide adoption in different industries, even to the extent that it penetrates the farthest reaches of online gambling and sports betting. 
  • Bookmakers Security: The technology of the Ethereum blockchain is much enhanced security with an unchangeable system, basically free from fraud or tempering. This guarantees bettors some surety in placing bets, knowing that their resources and account information will be safe.

Bitcoin (BTC)

Online sportsbooks and bookmakers accept cryptocurrencies—the highest accepted type of cryptocurrency at those platforms is Bitcoin, the first type of cryptocurrency to ever exist. This is the one form of digital currency most people turn to in terms of wrestling due to its high level of decentralization, security, and anonymity. But Bitcoin transactions are quite slow and comparably even more expensive than Ethereum. In addition, the problem of scalability has caused congestion on the Bitcoin network during peak times of demand.

Dogecoin (DOGE)

Dogecoin, known for its amusing nature, has become popular in wrestling betting due to its cheap and fast transactions. Originating from an internet meme of a Shiba Inu, Dogecoin has a playful community that enhances its appeal. This camaraderie sets it apart in the cryptocurrency world, attracting various users. However, despite its speed and low costs, Dogecoin has limitations in wrestling betting. Unlike Ethereum, which offers advanced features and smart contract capabilities, Dogecoin lacks infrastructure for complex betting.

Litecoin (LTC)

Litecoin, nicknamed the “digital silver” to Bitcoin’s “gold,” offers quicker transactions and lower costs in sports betting. This makes it a viable option for wrestling betting, particularly for those looking to minimize transaction costs and ensure timely processing of their bets. With its strong security features and widespread acceptance among online sportsbooks, Litecoin has established itself as a reliable choice for bettors seeking a secure and efficient betting experience.

However, similar to Bitcoin, Litecoin faces scalability challenges that can impact its performance during periods of high activity. As wrestling events draw in large volumes of bettors, the Litecoin network may experience congestion, resulting in delays and higher transaction fees. While Litecoin’s scalability issues are not as pronounced as Bitcoin’s, they remain a consideration for bettors looking for a seamless and uninterrupted betting experience. 

In conclusion, Ethereum stands out as the best cryptocurrency for betting on wrestling events in 2024, thanks to its advanced features, scalability, and widespread adoption within the online gambling industry. However, Bitcoin, Dogecoin, and Litecoin also offer unique advantages and may appeal to bettors based on their specific preferences and priorities. Ultimately, the best cryptocurrency for sports betting will depend on factors such as transaction speed, fees, security, and the availability of betting platforms that support each cryptocurrency.