How Cryptocurrency Affects the Gambling Industry

Nowadays, many companies use e-currency and blockchain technology. This is not surprising because in recent years cyber-currencies have made the whole world crazy.

More individuals and companies use them to make payments today. The gambling industry is not an exception.

Leaders of the Industry

Over the past few years, casinos have joined the world leaders who have realized the advantage of the technology. Additionally, the existing online pokies began to accept crypto along with fiat money, which undoubtedly proves that this money has a future in gambling.

Today, blockchain is considered the best solution for the gaming industry, and there are some reasons for this:
1) thousands of transactions that are conducted between operators and players a daily;
2) the money transfers that before could take a day began to be much faster;
3) payments are made without unnecessary fees to intermediaries, which benefits both operators and players.

Therefore, it is reasonable to say that e-money is the path to a revolution in the industry.

Complete Anonymity

Anonymity is another indisputable advantage of the blockchain. Financial institutions are known to have access to user transactions. If this info contains numerous transactions with gaming sites, it may cause problems for users from the countries of the restricted areas. On the contrary, such institutions do not use third-party services, due to which payments are conducted directly between the operator and the player, therefore banks are isolated from the chance to track the gaming activities of their customers.

Global Scale

Online gambling is focused on the global market, which is another argument in favour of using e-currency. When exchanging currencies, banks charge a fee. As a result, both operators and players are subject to possible changes in the exchange rate. With digital money, there is no need to exchange currencies.

Crypto services are perhaps the fastest ones. This is due to the nature of the e-cash. Distributed registry technology not only protects information through encryption but also eliminates the need to contact financial institutions.

So, players who use crypto-money online can receive many privileges. For example, when using alternative payment methods, players are not required to provide their ID, bank account info, address, etc. In fact, all that is needed is a username and details of the electronic wallet.

Where to Find a Reliable Cyber-currency Casino?

It is believed that one of the most modern countries offering Bitcoin casinos is Malta. Nowadays, the Maltese government is in the process of legalizing the use of crypto-money on gambling platforms. According to the Maltese authorities, e-currencies have a huge potential that cannot be ignored. In the nearest future, the state intends to become the world’s leading user of digital currency and blockchain technology.

What is your attitude to the Bitcoin casinos? Do you trust this payment method? Share your ideas with us in comments.