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The gaming industry is one of the most advanced and successful in the world. One of the main reasons for this comes from the impressive way games can adapt to the times, making the most of almost every technological evolution as it emerges.
One fairly recent but highly popular form of tech that has had an immensely positive impact on the gaming world is cryptocurrency. In the United States, it is estimated that around 28% of adults own at least one form of these digital assets, and many more have suggested an intention to do so in the future. But what is it about cryptocurrency that makes the gamer’s life so much better? In this article, we’ll examine some of the most obvious benefits of using cryptocurrency when gaming.
Faster and Cheaper Transaction Speeds
Gaming certainly isn’t a free hobby. Over and over again, gamers find themselves needing to make purchases to acquire new games, wager within online casinos, or access in-game assets in online titles. Though using crypto might not be able to lower the cost of gaming, it can certainly make the process of buying game-related products infinitely easier.
When gaming, we want everything to run smoothly so we can stay invested in our game and not lose focus, and waiting ages for payments to process, assets to arrive, or winnings to reach our bank can be highly frustrating. This is especially the case within the world of online casino gaming, where players are often left waiting hours or even days for their winnings to reach their bank account, which in turn can lead to stress and anxiety. Therefore, platforms on 99bitcoins’ list of the casinos with instant withdrawal and other highly-regarded crypto gambling platforms are made for gamblers who value fast transaction speeds.
The reasons why crypto allows for fast and cheap transaction speeds stem from its nature as a decentralized asset. Transactions made with cryptocurrency don’t have to pass through any third-party institutions, such as banks, in order to be processed. Instead, these transactions can be made on a peer-to-peer basis and without hidden costs for the user.
Increased Security
Digital threats are on the rise, and this is something all online gamers need to be aware of when engaging with the gaming world. Luckily, just as malicious online actors have evolved, so too has the technology at our disposal to protect ourselves from them. Every online gamer should make use of effective anti-virus software and some of the best VPNs for gaming, but they can also greatly increase their security through cryptocurrency.
Cryptocurrency can be used to purchase online games, in-game assets, and even video games from digital stores and some in-person retailers. There are even several crypto platforms out there that enable gamers to purchase gaming-related accessories using cryptocurrency, so it is quite easy to ensure that every gaming-related purchase is made with these assets.
Crypto is known to be a much more secure payment method when compared to more traditional modes. This is because when a transaction is made using cryptocurrency, it is encrypted before passing through a large digital ledger known as the blockchain. This encryption makes it incredibly difficult for hackers to track transactions back to a source. Crypto users can also make use of advanced crypto wallets with multi-factor authentication to keep their assets safe.
The Ability to Make Money While Gaming
When cryptocurrency began to gain substantial popularity in the gaming world, a new genre of gaming emerged, known as crypto play-to-earn games. As the name would suggest, these are online games that actually pay their players in cryptocurrency for the time they spend on the game and the missions they complete.
There are multiple crypto play-to-earn games out there, in a variety of different genres, so every player is bound to find one that speaks to them. It is almost every gamer’s dream to be paid for their gaming time, but crypto play-to-earn games can make that a reality for every gamer, which is one of the biggest benefits of crypto in the gaming world.
Access to a Vibrant Community
Gaming is often misunderstood as an isolating hobby by those who don’t play, but the reality is that the gaming world thrives on community. Online gaming enables players from all over the world to come together with common interests, and gamers who are friends in real life regularly play together. Community sits at the heart of gaming, and it is something that nearly every gamer values.
Another thing that thrives on is community and cryptocurrency. As we will explore in the next point, crypto is often a volatile asset, meaning its value can rise or fall in value over time. One thing that ensures the success of a particular asset is the community that is built up around it. Additionally, through its transparency, crypto fosters a community where every individual feels heard, appreciated, and like they belong.
The Chance to Grow Wealth Over Time
Finally, one element of cryptocurrency that makes it an extremely valuable asset for gamers is its volatility. As mentioned above, volatility refers to the fact that crypto coins can either rise or fall in value over time, depending on several different factors. The best way to see the advantages of this for the crypto investor is by examining the history of the most popular cryptocurrency in the world, Bitcoin. At the time of writing, Bitcoin has a value of over $110,000; however, when it first emerged in 2009, this value did not even reach a single dollar. The popularity of the asset over a long period of time has caused the value of Bitcoin to rise exponentially.
This is an incentive for every kind of gamer to use cryptocurrency, but it is especially desirable for those in the online gambling scene. This is because the volatility of crypto itself enables gamblers to make an additional wager on whether their winnings might grow in value and increase their wealth over time.