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Kalshi Lets Users Deposit Bitcoin for Crypto Predictions
In a move aimed at further enhancing the user experience, Kalshi has announced that it is now possible to deposit Bitcoin (BTC) on the platform. This development comes as a significant milestone for the prediction market platform in America, which already accepted deposits via USDC stablecoin.
The decision to incorporate Bitcoin deposits is expected to attract more users from the growing Web3 and crypto community, who will no longer have to go through intermediaries or experience conversion delays when using the service. With Zero Hash handling the conversion process of BTC to USD automatically, this move aims to make Kalshi a more user-friendly and intuitive platform.
Kalshi’s decision to accept Bitcoin deposits is also noteworthy in light of recent market trends. Experts believe that institutions will start providing Bitcoin-based services as regulations become increasingly favorable. Furthermore, Fidelity reported a surge in institutional Bitcoin purchases due to inflation concerns, changes in accounting standards, and corporate reserve strategies.
The cryptocurrency market has seen significant volatility over the past 24 hours, with BTC increasing by approximately 5.2% to trade at around $81,747 per unit. The daily trading volume reached an impressive $70.80 billion, while the market capitalization now stands at a staggering $1.6 trillion.
Kalshi’s decision to accept Bitcoin deposits is seen as a strategic move to capture a larger share of the digital asset market, which prioritizes simplicity, speed, and digital accessibility. As such, this platform has positioned itself as a go-to destination for those seeking seamless cryptocurrency trading experiences.
The article is provided for informational purposes only and does not constitute investment advice. Readers are encouraged to conduct their own research and consult with financial advisors before making any investment decisions.
Source: https://www.crypto-news-flash.com/kalshi-lets-users-deposit-bitcoin-for-crypto-predictions/?utm_source=rss&utm_medium=rss&utm_campaign=kalshi-lets-users-deposit-bitcoin-for-crypto-predictions
