Bitcoin and online games may seem like a strange combination but the technology is opening up new avenues on how people sit back and relax after a long day.
Bitcoin is poised for adoption in every industry, including gaming. Here are its contributions to the gaming front.
Decentralized eSports Betting is Now Possible
Traditional sports betting avenues present a hurdle where some are unable to participate due to the presence of a governing or controlling body. With Bitcoin, the hurdle is eliminated and players can enjoy a decentralized aspect of online betting.
With Blockchain technology comes the freedom of being able to set up shop without worrying about regional restrictions. In a way, online gaming will be more accessible to everyone regardless of where they live.
Faster Payment Processing, Worldwide
It’s no secret that Bitcoin and other cryptocurrencies can be sent across the globe and are preferable to fiat currency because they’re more agile.
Now, apply this to online games such as casinos and it benefits both companies and players alike.
Faster payment processing means players can join in on the fun sooner, while game companies get their funds and revenue in a timely manner. Adopting Blockchain and Bitcoin as a method of payment isn’t that difficult, either- they just need a cryptocurrency wallet and post the private key so users can make a Bitcoin deposit.
This is an advantage for Bitcoin investors who have funds on their bitcoin billionaire account- they can just do a straight transfer and purchase in-game items and tokens right away.
Greater Safety and Security
Bitcoin and other cryptocurrencies are backed via Blockchain technology, a decentralized mechanism that’s ultimately safe and secure.
Other than an errant payment to the wrong wallet key, any and all Bitcoin transactions are secure and do not require the verification of a central governing authority. Not only is the payment faster but also the security and immutability of the transfer.
Online games should consider setting up Bitcoin as a mode of payment since it will benefit them as well. It’s impossible to hack and can be stored offline via a hardware wallet. It’s also highly valued and makes for an interesting side investment as well.
Accessibility for All
The inclusion of Bitcoin only helps game companies and the industry as a whole.
The internet and smartphones have already made things more accessible in terms of variety, and with Bitcoin it serves as a complement to existing monetization systems.
Making it easier for people to play is a great solution to bolster the population. Bitcoin presents a hassle-free way for those who intend to combine a free to play game with in-game purchases and the option to unlock premium content with real money.
Bitcoin is already an established digital asset, and NFTs, or non fungible tokens are the next big thing when it comes to the gaming industry. It’s exciting to think that these serve as the gateway to something more- in the future, we’ll see more and more applications of digital assets as time goes by.