As soon as cryptocurrencies came to be, they entered different arenas. Some countries use them to circumvent sanctions, and some use them to rescue their economy and reduce inflation. These cryptocurrencies have found their way in the field of agriculture, food, medication, and healthcare.
Another field which today cryptocurrencies have entered is the entertainment and gaming industry.
From time to time, companies publish unexpected news. Before, online dating sites were only used for meeting beautiful girls, but today these platforms make billions of dollars for shareholders and advertisement agencies. A similar discovery was made in the gambling industry.
Casinos Equipped with Cryptocurrencies
Before the advent of cryptocurrencies and crypto casinos, gambling casinos were all there was; they were considered as a place full of enthusiasm, a place to spend some expensive leisure time, and a place for immoral entertainment, but it was not a way to earn acceptable and real income and profit.
The advent of Bitcoins has turned into a new incentive for developers, investors, and managers in order to develop a new level of casinos. This opportunity had some positive impacts for consumers as well. A number of people developed a legal platform for generating real money in online casinos.
The Profit that Players Earn from Crypto Casinos
Crypto casinos can provide a wide variety of payment options for players that are considered to be their in-game strategy. Also, players can use the experience that these brands have accumulated over the years by paying a different currency. These changes also increase the demand for crypto casinos that accept all kinds of currencies.
To Which Cryptocurrencies Do Casinos Have Access?
The most popular cryptocurrencies in these casinos are as follows: Bitcoin, Dash, Monero, Ethereum, Litecoin, Bitcoin Cash, Dogecoin, and Thether.
What Are the Features of Crypto Casinos?
First of all, crypto casinos are like before, only with the difference that they are more modern, more secure, and more exciting.
The second thing is that today getting things done is easier with cryptocurrencies. The high speed of trades, privacy, avoiding fraud, and being completely anonymous are among the advantages of using cryptocurrencies.
Moreover, lastly, crypto casinos are secure and legal. Even if casinos are illegal in some countries, this does not apply to casinos that work with cryptocurrencies; because regulators do not control this area and this is one of the implications of the fact that cryptocurrencies are decentralized.
Free circulation of cryptocurrencies opened up a new way to develop gambling. Casinos grew quickly and quietly and established healthy competition and qualitative growth. After necessary analyses and initial tests, casinos all across the world kept on employing cryptocurrencies in their platforms.
Cryptocurrencies and the Gaming Industry
The gaming industry is one of the largest fields in which billions of dollars is moved and profits game makers and investors of this field. From the other hand, gamers are paying a lot of money for their favorite games. As technology advances, all fields are undergoing changes, and the gaming field is no exception. Maybe in the past, payment only included paying for the console and the game itself, but today after buying the game you want, the process of payment flows does not end for the game. There are even companies that enter their games into the market very cheap or even free and as soon as these games are installed the process of payment begins. There are options and items put in place in games that in order to access them you need to pay a preset amount.
Gamers Like to Use Cryptocurrencies
According to a study by the exchange WAX, which studies more than 1000 gamers in the United States, 75 percent of gamers wished they were able to trade virtual commodities in exchange for cryptocurrencies that can be bought and sold in other platforms. About half of the people that participated in this study own cryptocurrencies. However, 87 percent of them have not yet used cryptocurrencies in the gaming industry, but 80 percent of them announced that they intend to use cryptocurrencies to conduct in-game trades.
Problems and Challenges of Using Cryptocurrencies for In-game Trades
While integrating cryptocurrencies in videos games would possibly give a good feeling to gamers, but it’s not transparent and easy for game developers.
First, investing in cryptocurrencies will lead to price turbulence and sometimes its drop. This might have a negative impact on developers. A foreign token may create uncertainty about the future of income for gamers which have mainly focused on making money via in-game purchases.
A possible solution for this challenge is using a game-specific coin with a stable price compared to other currencies.
Second, game developers want people to spend money in their own games and don’t want gamers to take this money out of this system. If there is such as cryptocurrency, rather than investing on it again, it will be frequently pulled out. Therefore, developing a cryptocurrency is not necessarily the demand of game developers.
Mining Bitcoin via Games
Perhaps mining Bitcoin via games is something interesting. It should be said that this is now possible. Anyone can sit behind his computer and mine cryptocurrencies while enjoying his games.
One of these games is Roller-Coin. Roller-coin is an online game to mine Bitcoin, in which gamers compete with other players in order to mine real Bitcoin. Though mining Bitcoin this way takes a bit long, but unlike Blockchain and complex processing algorithms, they allow gamers to test their abilities, complete missions, do tasks, and earn real Bitcoin.
All of these were instances of advances that happened in cryptocurrencies in current time. No one really knows how far will these cryptocurrencies advance. Maybe there comes a day when we no longer see physical money, and all trades are done with cryptocurrencies.