The world of iGaming is constantly shifting left and right. For the better, of course. Online casinos are evolving swiftly, adding new features that make the whole experience a lot better. One of the aces in the sleeve aren’t just the games. Players value safe and fast deposits and withdrawals too, and they’re delighted that online casinos today accept a variety of payment methods.
The newest kid on that block are cryptocurrencies. Bitcoin and the bunch have been making the rounds for a while, and it’s all positive this time around. Unlike the bubble that burst a few years ago, Bitcoin is now breaking price records no one believed it could even touch. Other cryptos follow suit, so it makes sense for them to be in the headlines.
Every licensed online casino is thinking about adding cryptocurrencies on the list. Many have done so, already reaping the rewards. We’re expecting all online casinos to follow suit, although it’ll take a while before cryptos are widely adopted.
Why Choose Cryptocurrencies?
For those unaware, cryptos are a digital and decentralized medium of exchange. Bitcoin, the world’s leading crypto, is a highly volatile medium that has jumped over the price of traditional assets such as gold. Bitcoin is often considered the future of finance since it presents fantastic investment opportunities and offers features that traditional currencies don’t.
Why do players choose crypto at online casinos? Well, first and foremost, the deposits and withdrawals are lightning-fast. We’re not talking about transactions in minutes, but in seconds. Connect your crypto wallet to the casino and you can deposit in seconds and withdraw fast too. The fees are low too, but the most exciting part of it all is the blockchain.
The technology that allows cryptocurrencies to exist, the blockchain will reshape the world as we know it. It’s touted as the future of many industries including iGaming. It’s safe and easy to implement and use, and offers numerous technological possibilities that can reshape various industries.
In iGaming, the blockchain can improve security and offer instant transactions with almost no fees at all. It’s not just about Bitcoin. Other cryptos make use of the blockchain too, and stuff such as smart contracts and other features can make online casinos better in the future.
Of course, it won’t happen overnight, but for what it’s worth, the blockchain may end up the industry’s messiah.
Is a Crypto iGaming Revolution to Follow?
There are still many licensed gaming sites that are opposed to the idea of cryptos. Many have already added at least Bitcoin on the list of payment methods. Everything is bound to change pretty soon, but for that to happen, the global regulatory framework needs to change.
Cryptocurrencies are not legal in all countries around the world. Only a handful have legalized them so far, so some jurisdictions simply won’t allow you to play with Bitcoin or other cryptos. As the legal landscape for cryptos around the world changes, we see the iGaming industry undergoing a revolution and many new casino sites joining the fray.
Which is for the best, of course. It’s a win-win situation for both casinos on the web and players too.
None of the information on this website is investment or financial advice. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website.