Even a decade ago, online gaming was pretty much different. You had to either pay by card or cheque, and many shied away because of the identity theft risks involved with it.
Today, Bitcoin is one of the most widely used payment methods to pay for online gaming, and for a good reason.
While one of the most volatile cryptocurrencies you will find today, it still has its charm and a wider acceptance than ever before. Did you know that there are Bitcoin ATM’s set around many States of the U.S. today?
The Rise of Bitcoin for Online Gaming
Even a few years back, Bitcoin had not caught on, and neither did the types of bitcoin currency make an impact on the existing gambling companies, that used conventional currency to fund their operations.
When Bitcoin did surface about half a decade ago, its first and immediate feeling was an awareness of its own existence. Like every new discovery or stock that comes from a new player, people were initially reluctant about investing in it.
The Turnaround is Good News
A change of heart has taken hold of casino companies which are now increasingly attaching themselves to newer payment methods like Bitcoin.
There are several gambling sites where you can earn bitcoins playing games. If you have a knack for gambling, you might consider this option too. Betchain is one such site, but like I said, proceed only when you know how to gamble. UK Casino games is a good choice too, and can help you make and win real money.
How Is it Affecting Online Gaming?
From the very beginning, online casino companies were reluctant to have anything to do with Bitcoin, perhaps because they didn’t know them well and feared that joining up would cause more harm than good.
Perhaps the initial reluctance on the part of casino gaming companies was they saw Bitcoin as being too cumbersome or just too complex to help them. There was the legality in question and the legal hurdles they had to deal with.
Today, they know they would be losing out if they do not have Bitcoin as one of their payment methods.
People are turning their focus away for the big media players and a host of other smaller players to get their essential information on gaming opportunities. These player forums offer the most accurate and updated information about the best games and gaming sites online. Gaming sites know that they need to keep up, and accepting bitcoins seem to be a good way.
The Top Benefits of Accepting Bitcoin
– It is an easy way to accept payments
– There are no delays
– Minimum possibility of fraud since Bitcoin is based on the Blockchain principle
– Users can load in the money instantly and convert it to the currency of their choice while playing
– Easy way to manage finances for the site
Casino companies have now relented their stubborn resistance and are making Bitcoins work for their benefit by capturing a wider audience – a trend that is expected to grow into the future.
Do you think you think online casino companies should accept Bitcoins? Let us know below.