Cryptocurrency in the gaming industry. What do I need to know?

Recently, blockchain technology has been actively developing and affecting all sorts of areas, such as online casinos. And we need to understand how it all works, and whether it makes sense to license bitcoin games.

It is worth starting with the fact that currently iGaming has about 50% of all transactions going through bitcoin. But what is the reason for this success?

The first thing to say is that cryptocurrencies such as Ether and Bitcoin make the market a lot easier to access. This is especially true for those individuals who live in territories where gambling is prohibited. This is the case in Asia, where banks often have suspicions and all sorts of questions, and this often also attracts regulatory authorities.

But on the other hand, there are also numerous players who simply need anonymity for a variety of reasons. And crypto at the moment ensures the anonymity of all transactions. And in doing so, processes are becoming much simpler and faster.

At the same time, blockchain technology can show that the games are completely secure and honest. So this adds a lot of interest on the part of the user.

Licence

It’s important to note that a licence in the gambling industry is an urgent necessity, which indicates that the casino’s activities are controlled by the appropriate authority. And with that, the player has the ability to use a wide variety of payment systems to choose from.

As far as cryptocurrency is concerned, all transactions are fast and hassle-free. This is due to the fact that there is no intermediary involved in the transaction. But in this case, too, a license is not a mandatory factor for accepting payments, but it is still better to have the appropriate documentation.

Besides, the existence of a licence is also an effective marketing ploy, and users are more likely to trust such a gambling establishment.

And many experts say that in the near future the cryptocurrency situation will be much better across the territory, so that it will be easier to conduct all transactions legally and without problems.