Growth of Bitcoin Casinos in 2021
2020 was one of bitcoin’s best years. However, 2021 seems to be taking that spot away from it in an accelerated manner.
This is not only due to the large increase in its price, which went from $3,600 to $11,000 at the beginning of this year. In addition, many users are starting to use Bitcoins in their daily transactions.
Of course, in a global economy where the cost of capital assets is constantly rising, and gold reserves are always increasing in value, Bitcoin simply has great opportunities for further growth.
One of the keys to their growth lies in the number of services and businesses that accept cryptocurrencies as a payment method. Especially if we consider how easy they are to use.
In fact, much of the expectations related to Bitcoin in 2021 go hand in hand with PayPal. This company has decided to take the next step and started adding cryptocurrencies to its long list of accepted currencies.
As a consequence, many users decided to join the use of this incredible payment method.
The influence of Bitcoin in online gambling
The online casino world was also affected (in a very positive way) by the growing popularity of cryptocurrencies.
Today, millions of players prefer to place bets through various platforms under the security and anonymity provided by cryptocurrencies such as Bitcoins, for example.
This is leading more and more online casinos to accept not only Bitcoin but also the rest of the cryptocurrencies as their main payment methods.
Today, there are around six million Bitcoin users. Although they do not yet compare with other providers such as Visa or PayPal itself, predictions for 2021 lead us to believe that they will increase exponentially.
If you want to keep up with the latest cryptocurrency news, prices, exchanges, tools, and tips, then we recommend using coinmarketcap.com, a platform designed to monitor the cryptocurrency market.
Why are Crypto Casinos becoming so popular?
Cryptocurrencies have injected flexibility into the global market. They are decentralized and very efficient. This attracted millions of users in recent years. And of course, for online casinos, this was an excellent opportunity to grow.
As early as 2017, the first results of cryptocurrencies in the market could be seen. Crypto Kitties, a video game created to implement blockchain technology in real-world markets, created the foundations that would later build the crypto gaming and crypto betting markets.
From this moment on, the possibilities of cryptocurrency games, and crypto betting became endless. So, the industry could only do one thing: grow.
Accelerated growth and a massive potential audience were what drove online casino operators to create casinos whose main purpose was to meet the needs of this new emerging market.
One of the biggest companies to adapt to this new need was direx nv casinos, which is currently an industry titan that owns around 30 online casino brands, almost all of which accept cryptocurrencies and have crypto games. Casinos with this company name are really associated with the SoftSwiss casino platform.
So, to answer the question “why are crypto casinos becoming so popular?” we must consider the following factors.
- Access to new markets: Bitcoins are used on a daily basis to purchase all kinds of goods and services. This allows operators (such as online casinos) to enter new markets. An excellent example is the Asian markets such as Singapore, Thailand, and Japan, which have evolved hand in hand with the growth of cryptocurrencies.
- Speed of transactions: Traditional methods are often cumbersome and slow to use. A transfer can take 3 to 8 business days to be effective at best. Bitcoin transfers only take up to 30 minutes to complete.
- The anonymity of transactions: The security of your data is what characterizes cryptocurrencies. You only need your wallet address to make transfers.
- High security: Bitcoin uses the latest in cybersecurity technology. To date, there are no known methods to hack its wallets worldwide.
Crypto Casino trends that you should look for in 2021.
There are four trends that, if implemented, will mark a new momentum for crypto casinos, cryptocurrencies, and even crypto games. For that reason, you should take them into account to fully understand their influence on this growing market.
Importance of mobile gaming:
Smartphones were introduced into society in the late 2000s. The world changed at that time. To the point where we find it hard to imagine life without them.
Billions of people make use of these technologies, even in the most remote areas. This automatically makes everyone a potential customer of blockchain technologies.
And of course, in turn, crypto casinos become accessible to all corners of this world at a very fast pace.
This is because many players prefer to use their phones or tablets to access online casino games, rather than their computers.
Therefore, all casino operators worldwide are looking to develop technologies that fit this reality. In other words, crypto games must be mobile-friendly.
If in the past a company did not exist if it did not have a website; today it does not exist if that same website cannot be viewed from a mobile device.
Rise of cryptocurrencies on online gambling platforms:
The revolution caused by cryptocurrencies in the world of online gambling is undeniable. It changed the method of payment and even the games themselves. That is why in 2021 even more cryptocurrencies will be introduced to the already wide range of options.
Beyond the payment methods, many online casinos already incorporate offers, bonuses, promotions, and even tournaments whose central axis is the use of these cryptocurrencies.
These features are intended to attract a larger number of players who, despite using these technologies, have opted for another of the many options that go beyond Bitcoin.
Other widely used cryptocurrencies are Ethereum, DogeCoin, Dash, Litecoin, and Ripple. They are based on the same decentralized and secure principle as Bitcoin but have different technical characteristics.
Finally, the influence of cryptocurrencies has motivated many online casinos to offer their virtual currency, thus creating financial ecosystems that are more versatile and adaptable to consumers’ needs.
To the moon?
All statistics related to cryptocurrencies and crypto casinos indicate that their growth has been, and will be, constant.
Therefore, it is logical to assume that, over the course of the year, more users will join these platforms.
For players, as this transition occurs it is only natural that it will become standardized, making crypto casinos the standard.
Likewise, the incorporation of virtual reality and augmented reality in current technologies gives game developers and online casinos greater possibilities to attract a larger number of customers by adding these technologies to already existing games.
Changes in regulations and legislations
Cryptocurrencies used to operate under grey areas of legislation in many countries around the world. This is mainly due to their decentralization feature. An example of this is the stringent laws in the United States, which usually tended to confuse both operators and players.
Of course, this changed somewhat with the arrival of crypto casinos, as they had found an alternative to offer this kind of services in some states without breaking any of their laws.
The online gambling industry, hand in hand with cryptocurrencies can only continue to grow indefinitely. So, it is only a matter of time before the regulatory bodies of those countries that still prohibit or limit these services realize the potential that is being wasted and decide to change the way they currently run things.
Although we do not know for sure how this accelerated growth will affect legislation and regulation in many of these countries, we can say that, at some point, we will see interesting changes in the industry.
Conclusion
Online casinos are a mainstay of the gambling industry. One might even say that they have caught up and surpassed their real-world peers, especially considering the events of 2020.
The addition of blockchain technologies and cryptocurrencies only served as a catapult for a market that was already seeing accelerated growth.
We do not doubt that crypto casinos are the future, and 2021 will surely be one of the best years for their growth.
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