There’s hope that cryptocurrencies could see another boom in value this year and it’s been revealed recently that over 60% of bitcoin transactions have a connection with the gambling sector, including esports crypto betting. As the use of blockchain and cryptocurrencies broadens, so too will cryptocurrency use in betting and gaming. The next twelve months is likely to see the use of cryptocurrencies in esports betting grow.
Benefits of Crypto in Esports Betting
Bitcoin’s use for betting may be due to its potential anonymity and well as it being a currency which does not have borders. The idea behind bitcoin was to bring a digital currency to society that could be spent and sent quickly, anywhere in the word, without the need to be exchanged into a local currency and without exorbitant transfer fees.
There are relatively less fees when transferring fiat currency to bitcoin, compared to exchanging types of fiat currency. Cryptocurrency balances can be easily and instantly added to esports betting or crypto betting sites.
Transactions on crypto betting sites are instant with the use of blockchain underlying cryptocurrency transactions, making transactions transparent and immutably recorded. Cryptocurrencies have the potential to be a more secure means of exchange, because of blockchain’s secure distributed ledger technology.
Should we expect a boom soon?
The use of cryptocurrencies