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23:03 18.03.2021
2021-03-18
ikrom Ergashev (Neironix)
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The Benefits of Crypto in Online Entertainment

Crypto and blockchain technology are being utilised across industries and is no longer just a plaything for savvy tech types. The adoption of this relatively new tech provides a string of convenience, security, and affordability benefits to those industries rolling out the red carpet. The gaming industry is one area where crypto can benefit the most. And it's already unraveling today.

Where Can You Find Crypto in Gaming?

Cryptocurrency can be found in most gaming genres, as game developers for video consoles and mobile apps have made a limited number of games that enable crypto microtransactions (more on this later). Furthermore, there is the reason why blockchain is always tagged to cryptocurrencies, as the creation of blockchain-based games does help promote the use of virtual cash.

One specific genre of gaming that has decided to embrace bitcoin and other altcoins early is online casino gambling. Players of some of the best online operators are enabling their members to deposit with their chosen altcoin and convert their winnings back into that currency when they withdraw any winnings. Moreover, some online blockchain casinos allow players to gamble crypto directly to try and increase their Bitcoin stash, sometimes by playing Bitcoin Dice, a gambling game thought up because of crypto and blockchain technology that makes it impossible for the casino to scam players.

But not all of the best casinos have adopted volatile currency already. David Winter from PartyCasino stated, 'while it is still too early to implement an unregulated currency, it is in consideration as a future payment method for us'. If this virtual market was to become more regulated, you would expect to see a significant uptake in crypto adoption.

How Does Using Cryptocurrency Benefit Microtransactions?

Online gamers no longer just purchase their video game or mobile game and have complete access to everything the developers made. It is now common for gamers to buy in-game extras for consumes, weapons, or secret levels. Most of the time, these extras are not a considerable expense, but when you make frequent in-game purchases, VISA drives up the fee by taking a cut each time. Microtransactions suddenly don't feel so micro.

Crypto could wipe out all of these third-party fees for in-game microtransactions to keep them more affordable for gamers. But that's not all. By paying with cryptocurrency, the gamer no longer has to enter sensitive information, including banking details, into the website, app or console. Instead, they enter their crypto details to pay for their in-game purchases with heightened security. The whole process of using crypto payments typically makes the payment process quicker and effortless as well.

Crypto, online currency trading and blockchain technology are being utilised across industries and is no longer just a plaything for savvy tech types. The adoption of this relatively new tech provides a string of convenience, security, and affordability benefits to those industries rolling out the red carpet. The gaming industry is one area where crypto can benefit the most. And it's already unraveling today.

How Cryptocurrencies Benefit Online Casinos

Anyone making bitcoin or any other altcoin their default currency is guaranteed to realize several benefits and advantages. These players no longer have to enter and trust casinos with their sensitive information when depositing funds. The whole process of making a deposit is quicker, and it will make it cheaper for casinos to accept payments. This is why some gaming operators give back when members make crypto deposits, such as free bets or free spins on online slot games.

The article does not contain investment recommendations, or recommendations to use the service described in this article. All the opinions expressed express exclusively the personal opinions of the author and the respondents. Any activity related to investing and trading in the markets carries risks. Make your own decisions responsibly and independently. Neironix is not responsible for the safety of your investment and does not make any recommendations

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