Is Cryptocurrency The Future Of Gambling?

Cryptocurrency has come quite a far way since its inception, creation and distribution in the past while. Going from near obscurity to full-blown popularity, Cryptocurrency does indeed hold an allure unquestionable.

When it comes to the future of gambling and whether cryptocurrency has a role to play therein is, by all means, an open-ended discussion, which truth be told points towards a future of cloud gaming.

Crypto and cloud gaming seem to go hand-in-hand and may well be the online gaming world’s solution to online gaming for the game player’s future tomorrows.

Although Bitcoin as a means of payment can be attributed as the first known and workable form of cryptocurrency, when one looks at the status of cryptocurrency these days, the amount of various cryptos is quite astounding. All in all, game players nowadays are offered a wider range of payment and withdrawal options, where the cryptocurrency options are just as wide and varied as just about any other form of currency.

Perhaps a couple reasons why cryptocurrency is continually growing in popularity and being utilized by more and more online game players can be attributed to the fact that when using crypto, players can expect to enjoy the following perks:

  1. Near instant transactions: The longest a player may need to wait for a withdrawal or depositing transactions to complete via crypto’s is a reported 20 minutes. Not too long a wait, if you asked me.
  2. Transparency of transactions: Thanks to the use of blockchain technology, there is a level of transparency that was unseen and unheard of previously.
  3. Provably Fair accolade: Many cryptos also offer the provably fair accolade to players, as well as KYC (Know Your Customer) accreditation, AML (Anti Money Laundering) and Responsible Gaming.

Cryptocurrency is essentially following on from the pathway as laid down by its forefather, namely Bitcoin.

According to the Bitcoin creator (or perhaps it would be more to the point if we called it: creators), Satoshi Nakamoto described the Bitcoin system as a “decentralized digital cash system with no server or central authority.”

Given that Bitcoin was not the first attempt at creating and providing a workable Digital Cash system means that the thought-process surrounding the whole cryptocurrency movement has long time now been whirling around the minds of many an engineer and digital master. What Bitcoin can indeed claim is that is is the first successful attempt at a Digital Cash system. Thereafter, the advent of digital cash or cryptocurrency (as it is so called) was quite inevitable (perhaps even necessary).

By utilizing blockchain technology, what the cryptocurrency model has done is remove these and the need for a central server. With the individual servers holding full accounts of all actions performed on the blockchain system, the level of accountability and transparency is paramount.

Crypto is known to offer the following benefits to all users:

  • Low transactional fees
  • Fast (if not sometimes instant) transactions
  • Zero charge backs
  • Blockchain technology
  • Transparency
  • Security
  • Anonymity

Seeing as though cryptocurrency is on the cusp of innovation and riding the technological advancements within the online gaming industry, one can clearly see that indeed the future of gaming and cryptocurrency are closely interlinked.

Although the traditional and conventional methods of transacting at any given top casino online site, Party Casino being a prime example, remains a staple option and is ever still on offer to all players, one needs to realise that seeing as though crypto is on the cusp of tech-advancements, it will soon need to be made available to players more and more.

Right now, an increasing amount of casino online gaming sites, mobile gaming app developers and online gambling operators are looking to incorporating the cryptocurrency options within their list of products and services on offer.

As one looks towards what the future of online gambling holds, it really only makes sense to keep flowing with the status quo of gaming as it is presented today and prepare for all online gambling of the future to incorporate cryptocurrency operations as well as variable options along the way.

The post Is Cryptocurrency The Future Of Gambling? appeared first on Bitcoin Garden.

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