Blockchain technology has significantly developed since the creation of Bitcoin in 2009. A decade later, Bitcoin use has been adopted in many industries, including the gaming industry, where it’s pretty famous.
The online gaming financial market has seen positive disruption due to the increased efficiency of blockchain technology. That said, you can deposit Bitcoin in all the top online casinos and sportsbooks.
Experts believe that the gaming industry is among the first to adopt the real use of Bitcoin, revamping the sector and making games quite immersive. Herein, we discuss the growing use of Bitcoin in gaming.
Playing Online Casino Games with Bitcoin
One thing that most people check before joining a casino is whether it has secure and reliable payment options. Players who love Bitcoin will be looking to find if the casino of their interest has this crypto.
Most casinos seem to be aware that players love Bitcoin and as such, have added it to their list of payment methods. A huge percentage consider it for their deposits and withdrawal needs. Compared to other payment companies, Bitcoin supports same-day withdrawals.
When it comes to choosing a crypto casino, look at the welcome bonus. Consider the available games. Does the casino offer your favorite slots? Also, is the casino reputable?
That being said, Crypto- or Bitcoin casinos are excellent for these reasons:
- Variety of games from established software developers
- Licensed and regulated by reputable authorities
- World-class customer service
- Very secure
- Fast payouts
Bitcoin gaming is the next stop, and with many online casinos already using it, you can also hop into the wave. You will love the thrill that comes with enjoying secure gaming and fast payouts in a highly friendly environment.
Bitcoin is a Liquid Gold
The major use for Bitcoin and other top cryptos within the gaming industry, in a word, liquidity. Its application in this industry is a no-brainer since most players are familiar with tokenization.
Some games in the past featured various applications of traditional currency, so it wasn’t hard for gamers to get accustomed to Bitcoin. Games have since evolved, thanks to the internet. Currently, in-game features can be purchased using fiat currency.
The transaction, in most cases, occurs outside a game and, unfortunately, to the chagrin of its developers. Bitcoin can develop various norms that promote fairness to creators and casinos. It can make in-game purchases possible, thus benefiting developers and casino operators alike.
The move can be useful in free-to-play games such as Fortnite, where the majority of revenue comes from in-game purchases. So, as the gaming industry shifts its focus to in-game assets, Bitcoin will potentially solve various challenges, such as eliminating any fraudulent items.
Growth of Bitcoin Video Games
Millions of people play video games, and a huge percentage say that the games help them connect with others. Studies show that the widespread use of cryptos in gaming attracts more people.
Considering the development of play-to-earn (P2E) games, the use of Bitcoin, among other cryptocurrencies, is inevitable. Players are becoming more interested to see crypto integrated into popular video games.
What makes these games popular is that users can access digital assets like Bitcoin by accomplishing certain tasks. In addition, players love the idea of Bitcoin being included in popular games like Candy Crush Saga, Minecraft, Call of Duty, and Overwatch 2.
A large percentage of players claim that if popular gamers are awarded crypto assets, they can engage them more often than in other games. This illustrates that in-game currency incentives are alluring, and nothing will possibly disrupt them.
The Benefits of Bitcoin in the Gaming Industry
The gaming sector is adopting Bitcoin in a number of ways. For example, a good number of casinos and betting websites accept it as payment. Other sites reward their customers with Bitcoin for various in-game accomplishments.
You will also find games built on Blockchain technology. Generally, there are many ways Bitcoin can be used in the industry. And we are just beginning to witness its potential. Below are some factors that make Bitcoin beneficial in the iGaming arena.
Instant transactions: Bitcoin makes gaming easier by eliminating intermediaries. This results in faster deposits and withdrawals, making gaming more efficient and enjoyable.
Ability to play anywhere and anytime: Bitcoin offers a fast, convenient, and secure way to play games or place sports bets across borders. You will never worry about security threats or exchange rate challenges. Plus, you can enjoy gaming without having to provide your personal details or verify your email. Also, you can make payments and receive your winnings without limitations, regardless of your location.
Safe and Secure: Ensuring your safety is crucial when conducting transactions at online casinos. Using Bitcoin promotes your security since it controls unauthorized trade of digital currencies. Also, websites that accept Bitcoin have robust, secure socket layer and firewalls to enhance your safety.
Enhanced gamer experience: Cryptocurrencies like Bitcoin have the power to enhance your experience by providing a more interactive gaming adventure. For instance, delivering a seamless deposit and payout process definitely improves the player experience.
No hidden transaction fees: Bitcoin transactions don’t have hidden fees for deposits and cash-outs. The charges for transferring money are also very small that you will barely notice. Besides, you will not wait for the money to move. And there is no waiting for your money to move.
Increased revenue: Bitcoin, as discussed earlier, helps gaming companies to increase revenue by providing new ways to monetize their gaming products and in-game items.
Future of Bitcoin in Gaming
Bitcoin has gained massive popularity in the iGaming industry, with leading casinos and bookmakers entering the crypto space. Its use in the industry has been so successful, giving brands more reasons to incorporate it as one of the payment methods.
Besides, Bitcoin facilitates fast withdrawals, making it a preferred cash-out method for many players. Considering players appreciate fast payouts, it goes without saying that this crypto will continue to attract more attention.
Other cryptocurrencies like Ethereum and Litecoin are also becoming popular in the industry. So, as more players accept Bitcoin and alternative cryptocurrencies, gaming companies get an opportunity to reach crypto players worldwide.
Bitcoin allows you to make instant deposits and withdrawals, making it a perfect payment method.