Bitcoin is perfect for the gaming industry
It is important for an operator to optimize their costs (no transaction fees), reduce the project launch time (there are no financial intermediaries), have guarantees that there will be no fraud on the part of gaming industry players (the Bitcoin system is irrevocable) and, of course, have access to an audience from all over the world (any owner of Bitcoin -wallet – potential player). For the player, the key factors are the ability to play, anonymity, account security and the speed of payment of winnings. All this is possible thanks to bitcoin. He would like to take this opportunity to add that at the conference in Budapest, CASEXE received two highest awards in the nominations “Best Product Quality” and “Value for Money” in the category “Best Online Casino Software”.
What is the secret to the success of cryptocurrency games?
First of all, cryptocurrencies like Ether and Bitcoin make it much easier for people to access the market in jurisdictions where gambling is prohibited. For example, in most Asian countries, any transactions involving gambling sites may raise suspicion from banks and, subsequently, from regulatory authorities.
Secondly, there are many online gamblers who simply do not want in-game transactions to appear on their bank statements, and cryptocurrency provides anonymity and makes it easier to deposit and withdraw funds.
And last, but not least, the use of cryptocurrency and blockchain technology allows users to see that games are safe and fair. Due to the fact that all cryptocurrency transactions are registered within the framework of blockchain technology, as well as through the use of smart contracts, the levels of trust in operators can be significantly increased, and there is less room for foul play.
Cryptocurrencies ideally combine all those qualities that are important for any business, these are the speed of payments, the absence of unnecessary intermediaries, the openness and accessibility of the system, security and equality of participants.
Today, the total share of specialized bitcoin casinos among all online casinos is about 15%. But the dynamics are definitely positive, and in the coming years, according to our forecasts, this percentage will only grow. The situation is exactly the same among our clients, who are increasingly contacting us with requests to connect cryptocurrencies to their projects.
As for what kind of cryptocurrencies they are, in 90% of cases it is, of course, bitcoin. At the moment, there is practically no demand for other cryptocurrencies among operators.
Are the Bitcoin casino games licensed?
However, when a bitcoin casino website, for example, works with bitcoins, all payment processing can be done using cryptocurrency without the involvement of third-party services. Top Bitcoin casino – enjoy the safe and secure experience.
It is important to understand that a gambling license is absolutely necessary for a gambling business to open a corporate account with a bank or other financial institution and officially work with electronic payment systems.
Deposits and withdrawals are almost instantaneous, and bitcoins move directly between players’ bitcoin wallets and the casino. Thus, there is no need to provide a gaming industry license to any financial institution. Therefore, it can be argued that when it comes to working with bitcoins, a gambling license is optional, or at least not a prerequisite for accepting payments.
On the other hand, many players perceive bitcoin casinos in the same way as any traditional casino. They want to be sure that they are investing their spare funds in a safe and secure online environment and that their rights are protected by an independent body. In this case, a valid gambling license from one of the licensing jurisdictions becomes an important marketing tool that promotes player loyalty and significantly enhances the casino’s reputation.