Cryptocurrency has become a part of the digital world. There’s no denying that it is rapidly growing. You could even compare it to a new Stock Market, or Foreign Exchange, but decentralized. That’s why a lot of people are investing in it. More importantly, new cryptocurrencies are emerging all the time. Which begs the question: Will 2022 be the year of cryptocurrency gambling?
Let’s take a look at some of the factors to come to a viable conclusion:
The Rise Of Crypto In The Gaming Industry
There’s been significant growth in implementing some type of cryptocurrency in the games. Some companies are working on providing games to enable the players to earn cryptocurrency as they play. Meanwhile, others have started implementing it as a payment system to buy a membership, packages, and many other benefits. Let’s take a look at some of these:
Fast And Secure Payments
Cryptocurrency doesn’t have any central authority, like a government or a company. As a result, the transfer of funds is faster than other payment methods. You can make quick payments without worrying about security leaks. After all, these payments are highly-secure. Thus, it reduces the potential of getting scammed, hacked, and so on.
No Added Costs
Almost every payment method has hidden fees, handling fees, transfer fees, and similar costs. These fees are evident on cards, online transfers, PayPal, wallets, and banks. So, you always lose a small sum of money when you use these gateways.
However, you won’t have to face any additional charges with cryptocurrency. As a result, you get the exact value for your money.
The Benefits Of Cryptocurrency In Gambling
In Gambling, you receive the same benefits as the ones given above, but there are a few extra benefits:
Anonymity (Safeguarding Information)
People that gamble love to keep their identity and information anonymous or secure. Cryptocurrency is highly encrypted with blockchain technology. The transfer of funds won’t necessarily transfer back to you. Thus, you have the freedom to enjoy gaming without any problem.
Bonus & Rewards
Many online bitcoin blackjack sites offer you enticing rewards and bonuses if you use crypto. You can also win in cryptocurrencies. The rewards come in various forms like free spins, extra cash, etc.
Workaround The Restrictions
There are countless restrictions on various payment methods, especially for online gambling. Some countries have banned the transfer of fiat currency and funds for gambling. As a result, players can’t expect to enjoy gambling in certain places. Cryptocurrency provides a way to work around it.
The Future Looks Bright
There’s been exponential growth in incorporating crypto payments in the iGaming industry. Several online casinos have decided to add Bitcoin as a payment method. Many others are working on expanding various other cryptocurrencies.
Therefore, we can expect big things in 2022 for cryptocurrency Gambling. There already have been some tournaments with as much as a prize pool of $1 million in BTC. We can only expect it to grow faster.
So, the future certainly looks bright for cryptocurrency gambling, especially in 2022.