There are many cryptocurrencies that we use on almost a daily basis. We exchange them, save them up, buy them, and so on and so on. Everyone has their own way of using it. One of the most popular activities one can do with their digital coins apparently is entertainment, which can take many forms. In my first ever post for "A Diary of A Crypto" I want to explore, deconstruct and investigate the reasons why the crypto gambling market is so huge and relevant these days.
Cryptocurrency has been around the block for more than a whole decade, and it has made itself clear that it is here to stay as the scale of the industry has become humongous. It has yet to become the main medium to buy and sell goods and services, but most people have found a loophole around that situation. They utilize cryptocurrencies as a form of investment and internal transactions. Especially when it comes to purchasing and selling it. This is increasingly prevalent in iGaming, where digital coins are nearly the exclusive means of payment. A number of online casinos have been on the rise in recent years. Every day, more casinos are granted licenses.
Not even the pandemic has been an issue for this industry as a whole. While doing research for my first post for this blog I have found multiple online casinos that exclusively use cryptocurrencies as a means of payment. One of them is this hilarious named platform I have come across, It's called WinTomato. At a first glance, I was so confused about what the site was and what could it offer me, God knows I was bored out of my mind when I started using the site but that might be a story for a very different kind of blog post. The design of the site gave me major nostalgia for arcade games I used to play as a child. The chat on the site was booming and the interaction was riveting, to say the least. Clearly, I haven't come across a site that is owned by a huge corporation but does that automatically mean it's good? What does it say about the Igaming industry in general that they have opted to make fiat deposits a thing of the past. But what can I say, as a user of various cryptocurrencies I do find it more convenient when I find places where I can actually use my digital capital for my pleasure. Whether it is an online casino or a crafts goods service. Have any of you felt this way or is it just me?
Clearly, I'm not the only one that feels this way because if you didn't know it yet almost 50% of transactions made with Bitcoin are gambling-related. This is a very delicate ecosystem where online crypto casinos have a certain place and a function. Crypto gambling is a popular activity on the internet, You don't see many or really any land-based casinos offering you a non-fiat-based gaming experience. The term refers to the process of gambling via cryptocurrencies on the web. There are a handful of online casinos that try to have it all. They cater to both fiat and crypto-based users. Usually much like three-way relationships, one always gets less attention than the other. More and more casinos are going full crypto which is an interesting phenomenon to explore and investigate. As consumers are we slowly but surely getting to the point of legitimizing digital coins? Only time can tell but from what we can gather from its inception and development over the decade we can surely say that cryptocurrencies are here to stay.
