We always hear how Bitcoin is great for the financial industry, how it can remove the middleman and help you save money while you spend money. How it can provide fast transactions at any time to any place, even when you wish to send money to someone on the other side of the world.
Then follow us on Google News!
While all of that is true, it is important to remember that Bitcoin’s impact does not end there. The coin has already changed countless other industries, but one of the first ones that have accepted it with open arms — and therefore one that was changed the most — is the online gaming industry.
Bitcoin’s impact on online gaming
The first thing to note here is that digital currencies have found their use in online gaming thanks to microtransactions. However, it goes far beyond simply purchasing an in-game item from another player. Bitcoin’s biggest impact, without a doubt, concerns online gambling, sports betting, and similar activities.
Bitcoin brings security and anonymity
Bitcoin casino has become one of the new most popular places for an online gambler to visit, and for numerous reasons. Bitcoin brought increased security — to the financial industry, as well as online games. This is important because security is crucial for anyone who enjoys online gambling. It is the only way they can be sure that they won’t be scammed and robbed for their hard-earned money.
Bitcoin games also became extremely popular because they allow players to remain anonymous. Anonymity is something that was always important on the internet, and it was always one of the most important aspects to gamblers, as well. A lot of people enjoy their online anonymity, while others may depend on it, as their countries’ online laws may not allow gambling.
Bitcoin transactions come with low fees
Before Bitcoin, everything you ever won had to go through countless intermediaries, bank transfers, credit cards and their issuers, and all of them want a piece of your funds. Even PayPal has enormous fees, and sending the money from one of these services to another peels off layer by layer of your money.
Eventually, what you’re left with is significantly reduced amount, which is not exactly fair to the player.
With Bitcoin, you have to pay a single fee, and you are the one who chooses how large it is going to be. The more you pay, the faster your funds get transferred, but you can move huge amounts for as little as a few cents. That is a lot better than paying 5% of your money, which is what most traditional services charge.
Bitcoin is becoming widely accepted
Finally, while Bitcoin was next to useless for years after its creation, times change, and this is far from being the case right now. Sure, BTC has yet to be widely accepted and massively adopted. However, there are hundreds or even thousands of merchants that accept it online right now.
Bitcoin credit cards also allow you to spend it however you like, although the huge fees are included as well, so keep that in mind. More and more use cases emerge for digital currencies all the time. And, if nothing else, you can always simply convert it to USD and use the cash however you see fit.
There is a lot that you can do with Bitcoin these days, which is why its impact on online gaming and gambling cannot be overlooked. It brought possibilities, security, anonymity, and it lets you keep your money for yourself. Keep all those possibilities in mind next time you play Plinko online, and you will be more motivated to win and use it than ever before.
Read more at https://globalcoinreport.com/how-bitcoin-has-changed-online-gaming/
Globalcoinreport.com/ is author of this content, TheBitcoinNews.com is is not responsible for the content of external sites.
TheBitcoinNews.com is here for you 24/7 to keep you informed on everything crypto. Like what we do? Tip us some BAT
Send Tip now!