The number of online gaming platforms that accept cryptocurrency as a payment method is steadily increasing, making such a payment system a great alternative to more traditional deposit methods.
To be able to deposit for online gambling and make purchases using bitcoins, you must first have a digital wallet. There are many digital currency sites that can help you with this.
Cryptocurrency - an alternative method
Some institutions are abandoning digital currency so as not to violate the laws of the country in which they operate. Over the past year, the digital services market has boomed. Many services have popped up, claiming they are ready to process crypto-payments. What does that tell you?
In the past, the adoption of cryptocurrencies as a means of payment was introduced more for ideological reasons. It was companies that believed in the future of cryptocurrencies. Today, the situation has changed. Companies entering the market are not looking to promote cryptocurrencies, they just see it as an opportunity for profit.
These are often platforms that want a provider in their environment so they do not have to resort to third-party solutions. Their desire is driven by the growing lock-in of established payment systems. Many restrictions have emerged regarding Visa and Mastercard payments; alternative methods like different wallets have their own nuances as well.
Cryptocurrency in betting and gambling
This type of payment turned out to be the most demanded service for gaming and betting platforms. In this area the need for a convenient method of payment using cryptocurrencies is greater than in other areas. Almost all game, casino, sports betting providers work with users' internal balances. They do not sell anything, so they do not work with accounts.
Is the growth of the cryptoprocessing market related to the difficulties that online casinos have encountered in accepting payments through Visa and Mastercard payment systems? In all likelihood, yes. Cryptocurrency was originally launched to protest any restrictions on freedoms.
Cryptocurrency is a kind of payment method that nobody influences. If somewhere something is blocked, like in the UK, you can't use credit cards to fund balances on gaming platforms, and somewhere it's completely banned, cryptocurrencies help solve the problem of payment freedom.
In addition to bitcoins, ETH, BCH, LTC, USDT are popular. BCH or LTC also have a market share of around 3%. But bitcoin remains the most popular coin. BTC accounts for more than 80% transactions made through Coinspaid cryptoprocessing.com.