Why are Cryptocurrencies Important for the iGaming Industry?

One of the things that are slowly becoming popular in every country around the world is digital currencies. People from all over the world buy things, such as Bitcoin, Ripple, Coti, Ethereum, and many other cryptocurrencies due to their high price. 

What’s interesting is that the majority of people don’t use those currencies for online payments. Instead, they look at them as an investment, which is one of the reasons why some of them have increased their value by more than 100 times.

Besides being a popular option for investors, some digital currencies also play an important role in the iGaming industry. Today, some of the leading online casinos and bookmakers have at least a few digital currencies in their portfolios. Those things allow bettors to make instant and secure transactions. 

Let’s check a few reasons why cryptocurrencies are essential for the iGaming industry and why we will keep using them in the future.

Cryptocurrencies allow casino software providers to develop new games

If you are interested in online casinos, you probably know that hardly any operator has its own casino games. Almost every betting platform that’s available on the website of Betenemy uses the services of third-party casino software companies, who have a lot of experience in developing casino games. That’s why it shouldn’t come as a surprise that some brands have more than 4000 slots, hundreds of games with live dealers, and many other surprises.

Since cryptocurrencies and Bitcoin, in particular, are becoming more popular by the day, some of the best software suppliers have developed special casino games that people can play using cryptocurrency. Licensed Bitcoin casinos, such as those found at www.luckyblock.com, are available to be played from anywhere and anytime using cryptocurrency. Most of the crypto-based games are similar to regular casino games but some crypto slots have additional rewards, special mini-prizes, life-changing jackpots, and so on.

It should be noted that the majority of online casinos don’t have any special cryptocurrency games yet. However, this will change at some point in the future because digital currencies will continue to grow in popularity.

Betting operators create special cryptocurrency promotions

Besides the fact that casino players will have access to exclusive games, they might also avail themselves of special cryptocurrency promotions. Unless you choose a crypto-currency gambling operator, every brand that has this payment option in its portfolio also allows its clients to use other deposit and withdrawal options.

So, to “motivate” its users to make a deposit using things like Bitcoin and Ethereum, some brands create special crypto bonuses. Of course, the majority of them are deposit bonuses, which will give you a certain amount following your successful transaction. However, there are some places where clients can find crypto cashback, free spins, and even ACCA boosts.

One of the most important things you need to know about those types of bonuses is that their minimum requirement will change daily. As you know, every cryptocurrency’s value varies every day, which is why online casinos and bookmakers try to adjust their minimum requirements so that they can correspond with the currency’s price.

Cryptocurrency allows bettors to make safe transactions

One of the reasons why some people are yet to open an account on an online betting platform is because of the fear of being hacked. Even though some online casinos and bookies do everything in their power to safeguard their customers, there is always the possibility that someone will reveal your personal and banking information.

In order to allow their users to make safe transactions, gambling websites use different encryption tools. In some cases, they even partner with third-party software companies in order to use their security features.

All those things are great, but to feel as safe as possible, you should probably use cryptocurrency as a payment option. As you know, those things allow you to pay for different services and tangible items without the need to use your banking information. This means that it is challenging for hackers to “break” the crypto code.

To sum up, cryptocurrencies are a great payment option for those who want to make safe transactions. Just make sure that the bookie/casino doesn’t have any extra fees because some operators will require you to pay a small amount of money if you use these payment methods.