Why Gamers Are Using Bitcoin to Keep Their Data Safe
Cryptocurrencies have gone from being a trend to the mainstream. Now, everyone wants a piece of the digital pie. Without the fear of contradiction, it’s safe to say the new age of digital gamers, mostly Millennials and Gen Z, are among the most forward-thinking groups.
Online casinos recognize that fact and are always ready to adopt new technologies and innovations for their audience. Therefore, it is not surprising that many casino sites offer Bitcoin and other cryptocurrencies as means of payment and playing casino games.
For the gamers, the safety of their banking details and personal data are the top concerns when choosing a casino site, and the biggest reason cryptocurrencies like Bitcoin have boomed in popularity.
Certain countries have especially embraced the benefits that Bitcoin and other cryptocurrencies can offer. Bitcoin casinos in New Zealand, for example, have exploded in popularity in the past year and the same trend is happening around the world.
Let’s dive into the benefits of paying and playing at online casinos with Bitcoin and learn why it beats the traditional methods hands down.
Safe and Secure Payments
Cryptocurrency transactions are protected by some of the most sophisticated encryption technologies in the world such as private keys and smart contracts. In a regular online casino using standard payment methods, personal data and financial records are stored in a centralized server, though this sensitive information susceptible to hacking and fraud.
Thanks to decentralized blockchain technology, cryptocurrencies are exceptionally difficult to hack. In addition, cryptocurrency account details are not stored at the casino sites themselves at any time. Therefore, gamers play with confidence knowing there is little to zero security risk.
Personal Data Stays Protected
Online players give the same importance to the safety of their personal data as much as their money. Most traditional payment methods, including credit cards, debit cards, and bank transfers, do not give online gamers the chance to be discrete. It is way too easy to trace an individual’s gambling or gaming history.
Thanks to cryptocurrency, it is almost impossible to link a transaction on a crypto casino site to an individual and their bank statement. When transacting with cryptocurrency, only an address is generated. With that, players are protected from unlawful regulations.
Safely Try Out New Casinos
Many gamers don’t completely trust all casinos, and it’s not hard to blame them, considering the lousy reputation and publicity a few rotten eggs have given the industry.
However, blockchain technology ensures that their money and data will stay safe, so players have the confidence to try out new platforms.
Players can independently vet and evaluate the outcome of a game or events during the game, without having to worry about whether they’ll be susceptible to fraud. Win or lose, their money will be safe and sound.
Before the emergence of cryptocurrency, gamers residing in countries with gambling restrictions did not have it easy. In many countries, the laws on gaming and gambling are difficult to decipher and understand.
For example, Australia and New Zealand are close geographically but their laws on online casinos are drastically different. NZ has taken a hands off approach to real money casinos online and thus there is a great deal of online gambling with fiat currency. Australia, on the other hand, has havily regulated its online gambling market and their citizens have very few gaming choices and payment methods available to them as a result. If Bitcoin gaming were to become a thing, no longer would gamers be restricted to their physical location to reap all the benefits of online gaming.
With cryptocurrencies, however, gamers don’t have to worry about all of that regardless of where they reside. It’s made everyone an internet citizen. It is even easier and faster to make a deposit or withdraw casino winnings from anywhere in the world. Easier and Faster In-Game Purchases
In-game purchases have become staples of gameplay, especially in video games. These days, gamers can buy game items securely and with no interruption in their gameplay using cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and others.
These microtransactions often have no or very minimal transaction fees. Game developers and casinos also see an opportunity to make games more exciting while making more profit by incorporating crypto wallets for easy and instant transactions during games.
The adoption of cryptocurrency in the gaming world and beyond is still in its infancy, but the list of businesses that accept Bitcoin and other cryptocurrency payment methods grows exponentially by the day. With that being said, the technology is giving gamers ways to protect their sensitive personal data better than the traditional methods ever could.