Crypto gambling: using bitcoin to gamble | The Guardian Nigeria News – Nigeria and world news

The game has taken on whole new levels and embarked on what is now considered the next big thing, and it is none other than cryptocurrency. You have probably heard that the cryptocurrency market is continuously growing and is expected to soon reach double-digit compound annual growth rates by 2026. And you have also probably heard that applications of the Blockchain technology are constantly expanding, just justifying why this revolutionary and innovative decentralized system is so effective and efficient. When it comes to gaming, cryptocurrency and blockchain technology have so many applications that it’s safe to say we live in an age of crypto game.

Cryptocurrencies are not new to the world. Bitcoin, for example, was first introduced more than a decade ago, but it’s been in recent years that it has taken off, having first been heavily questioned, criticized and even rejected by the masses. Gambling with the use of cryptocurrencies has also taken off, as part of all the momentum of this new trend. Notably, crypto gambling now accounts for nearly 35% of all gambling revenue from online casinos and online bookmakers like Sports betwhile in the next few years it is expected to reach nearly half of the industry’s revenue.

There are several cryptocurrencies available to bettors, although Bitcoin remains the king of cryptos. But why is bitcoin good for online gambling and why should you use a cryptocurrency instead of the traditional fiat currencies available when betting? Well, let’s see some of the most important advantages, which will probably change the way you look at the whole issue of crypto gambling.

Security, confidentiality and anonymity
Gambling with bitcoins increases the security of your transactions and since it does not require any credentials or authentication from you, it also guarantees complete anonymity. The crypto game runs on a decentralized system based on blockchain technology, allowing transactions to be transparent, credible and secure, while being confidential because you do not have to provide sensitive private information. The fact that everything cryptocurrency transactions are immutable further adds to the benefits for bettors, especially as blockchain technology ensures that no transaction can be changed, altered or modified in any way and therefore remains intact and secure.

Speed ​​of transactions
Another very important advantage in gambling using bitcoins is the fact that all transactions are very fast compared to transactions made in fiat currencies. In fact, you can make deposits and withdrawals faster than you ever imagined before, which can be a game changer when it comes to online gambling. Imagine being able to make a payment instantly or receive your earnings quickly, no matter the amount or the time.

Very low transaction fees
As bettors, you are certainly frustrated with the transaction fees that are regularly charged when playing with traditional fiat currencies. With crypto gambling, however, you don’t have to worry about that. There are very low transaction fees – in some cases there are no fees – when playing with bitcoins and this means you can deposit and withdraw as many times as you want, regardless of the amount which will be subtracted by your account each time. You do it.

Crypto gambling using bitcoin is going to be the most popular and dominant form of gambling for the foreseeable future and if you are serious about gambling you should probably get into it at some point. The advantages of cryptocurrencies are not insignificant, while the benefits are easy to grasp. What is now an uptrend will eventually become mainstream and you better watch it!