The cryptocurrencies world was shattered in early 2022 after a series of announcements. Sadly, not all of them were positive, which reflected on most cryptocurrencies’ prices as they lost almost half of their value in a matter of days. This had a massive effect on people who use crypto as investments, but it also impacts others, such as those who bet online.
Even though online betting and cryptocurrencies might seem like two completely different things, they have a lot in common. If you are familiar with Nostrabet, you can check these crypto bookmakers accepting BTC, ETH, and other digital currencies within seconds and pick one of the most appropriate betting websites. Since all of them accept crypto payments, even the slightest change in their price affects them. Some of them only offer digital currencies, but others realize their volatility, so they provide alternative payment solutions.
Even though most of the crypto-betting platforms are doing well, this may not be the case in the future. Nowadays, almost all European countries have decided to provide “green” energy sources in order to fight climate change. The initiative is good, but it seems like some things were not planned because the price of electricity in most countries has skyrocketed. This may not directly impact digital currencies yet, but it will inevitably affect the mining process.
Can some of the popular digital currencies survive in the current situation?
The answer to this question is yes, the most popular cryptocurrencies will most likely survive the high electricity bills. However, this will affect their price, impacting the online betting industry. Most iGaming websites that focus on these options wanted to provide them because they are easy to use and offer their clients the option to make anonymous payments. Furthermore, their price grew over time, which allowed people to make more money if they predicted their bets successfully.
Bitcoin, which is the world’s leading digital currency, is really important for the industry. However, it is the oldest cryptocurrency, which means that it uses old technology that costs too much electricity. This was not a problem in Europe all those years ago, but now, countries decided to make drastic changes.
Following the numerous price corrections and the fact that mining cryptocurrencies are becoming more and more expensive, some of the crypto betting bookmakers offered by Nostrabet may be forced to update their payment section and add new deposit and withdrawal solutions.
Final thoughts
No one knows what will happen in the future, which is one of the reasons why cryptocurrencies are so exciting. The fact that these payment solutions play a massive role in online betting shouldn’t be surprising because they offer a lot of benefits. Unfortunately, they are not as stable as some of you might think, which means that even rumors have an effect on their price. Needless to say, this reflects on the iGaming industry, especially the websites that use those options.
There will be plenty of new digital currencies, and most of them will have to be “green” to survive. Hopefully, some of them will be available among online bookies.
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