Bitcoin having a good month, up 12%
The price of one bitcoin (BTC) is worth $277 at the close of the business day, March 5.
Sportsbook Review has covered the fluctuation of the anonymous cryptocurrency extensively in recent months, as interest has peaked among sports bettors looking for a convenient and easy method of funding their online sportsbook accounts.
Bitcoin's greatest gift may also be its curse, as the anonymity provided with the transactions and ease of use is cancelled out by the unstable value of the currency, at least for bettors and really the industry as a whole.
Many SBR readers have taken the approach of depositing only one for day and as instantly as possible withdrawing to protect their profits. You might be able to save 5% or more in deposit and withdrawal fees, but the potential of losing more than that of your bet winnings or simply off your deposit is a problem that must be considered.
Still, online sportsbooks such as 5Dimes, Bookmaker, and Heritage have catered to the wishes of their customers and began supporting bitcoin transactions recently. More sportsbooks may follow suit, provided bitcoin value stabilizes in the near future.
The below chart is powered by CoinDesk and shows the shifts from the last month: