The iGaming and cryptocurrency markets have experienced huge amounts of growth in recent years, with both seemingly having had direct impacts on each other in regard to the way that they have been able to surge exponentially.
Of course, there are a variety of different options across both industries that can be used by anyone who is interested in both, with a plethora of casinos available to use with many of the various different forms of crypto that have since been created.
Naturally, many will perhaps know more about the likes of Bitcoin, Ethereum, and Dogecoin because of the status and the reputation that they have within the world and the marketplace, however many other alternatives now exist that are possible to use for an array of different things, including iGaming activities.
As mentioned, wagering with virtual currency has continued to escalate and boom even further in recent history, although there are perhaps factors that can highlight why this is the case. Given the emergence and number of online casino Bitcoin options made available, punters are now able to play their favorite games and participate in an enhanced gambling experience that can be argued to be better than ever before.
Why have they become popular with players?
There are a number of different reasons that can highlight why a number of crypto-friendly online casinos have started to emerge in the marketplace and become more prevalent, with it easy to point to the various benefits that continue to be made on offer when using virtual currency.
Indeed, one of the biggest that many will instantly believe is perhaps one of the best benefits is that anyone anywhere in the world can use a Bitcoin casino. This is because there are hardly any jurisdictions of countries around the world that do not allow gamers to participate in crypto gambling. Players are free to do as they please when they wish to wager with virtual currency and do not need to fear that they are breaking any rules or laws that may be broken if they were to use fiat currency.
This is possible due to the decentralized nature that crypto has, as it is separate from conventional currency and does not require financial institutions or governmental bodies to regulate. Therefore, it can bypass all of the processing stages and be used as freely as the user wishes.
In addition, others will point to the advantage that these online casinos will provide a level of fairness and reliability that can not be enjoyed when using traditional platforms. Players are able to enjoy transactions that can be traced via the use of blockchain technology, whilst also being able to enjoy a level of anonymity, as well as additional security of sensitive data.
The use of blockchain technology means each transaction is safe as it is transparent and encrypted, thus making it harder for hackers to try and steal as they would need to try and break the codes that have been created and jumbled.
Is paying with crypto easier?
One of the biggest benefits of using crypto for wagering purposes is the fact that it is an incredibly simplified payment process and allows punters to be able to play their favorite games in an instant.
Each transaction, as mentioned, is protected via the use of blockchain technology thus making things more secure than when using conventional currency, whilst it also speeds up the process. In fact, transactions made via the use of cryptocurrency are instantaneous, thus allowing players to start gaming as soon as possible or, for those that withdraw any funds, being able to enjoy them as soon as possible.
To summarize, it is rather clear to see why the use of cryptocurrency has helped the iGaming industry to enjoy the rate of growth that it has and why both appear to have had a direct influence on each other in the past. Indeed, we can expect to continue to see this influence have a significant impact in the future, too.