Cryptocurrency Has Shifting from a Novelty to a Gamechanger in the iGaming SpacePublished October 2, 2021 by Lee R
Cryptocurrency is providing greater autonomy to players and operators alike.
No longer a trend, the cryptocurrency integration process has begun across global iGaming sites and operators.
Cryptocurrency attracts both crypto-enthusiasts and more gambling enthusiasts because of the advantages it provides to users, at both the player and operator level.
The safety of use of cryptocurrency reduces the risk of losing funds or having them trapped in clunky payment or transfer systems, which provides a huge benefit for those who use cryptocurrency to gamble with through cryptography protection.
As a virtual currency, cryptocurrency replaces actual money which would otherwise be put up at gambling sites and require sensitive identity information to be released.
Simplicity and Seamlessness
As a new form of payment, the simplification of transactions with cryptocurrency is revolutionizing the betting space as well as the casino space through vertical such as slots where speed of transaction most rapidly enhances the iGaming experience.
Adaptibility of Use
Cryptocurrency is natively used with digital wallets as a form of payment, but can be also used with e-wallets including PayPal, ecoPayz and Skrill.
Decentralisation for Safety
The decentralisation of digital currencies on blockchain technology insures the highest level of security in transaction, while maintaining transparency of all crypto transactions across public ledgers that show the full history of the movement of the money.
Transparency makes it much easier for operators to ensure that funds used in their casinos have not been laundered—through advanced software that checks the historical movements of funds that arrive to wallet of operators or players, which can be confirmed by individual examination at any time on the same public ledgers.
Cryptocurrencies further support seamless transactions among players and online casinos autonomously, because blockchain-based wallet-to-wallet transactions of cryptocurrency do not rely on outside payment systems or technology so that transactions are able to complete without relying on external factors at all—no unforeseen holds, no added users fees, etc.
Cryptocurrencies ultimately support a fairer from of play for both operators and players. Operators benefit from lower costs, while players benefit from increased anonymity, security, and enhanced play. Look for positive data to be released soon illustrating the benefits of cryptocurrency to iGaming as initial statistics are gathered and data comes in.