Will more online casinos embrace cryptocurrency in 2020？
When it comes to cryptocurrency, we cannot but mention the pioneer in this field – Bitcoin. Compared with the system established by the government’s legal currency, it has the characteristics of a peer-to-peer electronic cash system, which can operate as a more reliable currency network. In the past few years, more and more people have used cryptocurrency as a starting point for online payments due to the promotion of stock market analysts and the soaring price of Bitcoin. And this trend can be confirmed in the continuous development of the online gambling industry. In particular, another major feature of the online gambling industry is that the industry is extremely competitive. Every year, even every month, amazing new platforms are launched, and major brands are forced to constantly pursue innovation to consolidate their leading position. As a result, the online gambling industry is quickly embracing cryptocurrency, and it will not be surprising.
Since cryptocurrency provides a secure transaction method, online casinos have added it as a payment method, which can achieve the purpose of expanding services and increasing trust for brands. For this reason, cryptocurrency gambling websites are becoming increasingly popular. Undoubtedly, there are more online casino platforms now, starting to add a wider range of cryptocurrency transaction methods, especially the projects other than Bitcoin (such as: Ethereum, Ripple, etc.) become more popular. As early as 2013, it was discovered that online gambling transactions within a month accounted for more than 50% of all bitcoin transactions. Although there are more ways to use cryptocurrency, the online casino area is still a popular option for people to use cryptocurrency.
The price is only one of the highlights of Bitcoin. It does attract people’s attention due to volatility, but it quickly proved that its value is not only that. For example, distributed currency provides users with a private transaction system. The need for privacy in payment also allows encrypted users to see systems like Monero in addition to speed-oriented bitcoin to achieve stronger anonymity. This is even more attractive to those who do not want to show online gambling transactions on bank slips. Of course, the specifications of cryptocurrency provide users with a faster and cheaper transaction method in terms of deposits and withdrawals. Online casinos benefit from promoting increasingly popular transaction methods. Cryptocurrency brings additional security, transparency and real-time transaction speeds, which can be transformed into lower operating costs, which is also a huge benefit for operators.
Both users and platform operators are becoming more familiar with cryptocurrency and the benefits as payment methods. Online casinos that already have cryptocurrency payment options, use it as a selling point to attract a growing crypto audience. In the future, we can expect to see more online casinos using cryptocurrency, thereby creating a win-win situation for players and operators. More cryptocurrency transactions can also be seen in online casinos, prompting it to be closer to being effectively standardized in the digital industry.
