Crypto gaming or a hoax?

Crypto gaming or a hoax?

Analytics   /   Jun 28th, 2019   /   0 COMMENTS   /  A+ | a-
Back in 2018, we showed how mobile devices remain the most robust contributors to the growth of iGaming, as over 60% of the market uses them. The gaming operators were busy exploring various ways for the development of a good mobile user experience to exploit this trend. Well now we can all agree this well understood, anyone ignoring "Device" (Mobile/Tablet) users is ignoring the improvement of the overall accessibility and mobility of their gambling products.

As long as technology continues to change and evolve, the gaming industry will keep taking advantage of its possibilities and drive a more appealing product to their worldwide customers. Part of this change comes in the format of the ever famous cryptocurrency. Once, just a few offerings existed. Now there is a head spinning amount of virtual currency to consider.

When blockchain technology came into play it offered a chance for people to exchange transactions without the need for the authorities to regulate. After all, the fact the ledger is distributed means it is already policing the transaction. It checks that the ledger (record) of your transaction is in sequence to the other record sets and in turn makes your transaction. Therefore removing the "middle man", however that sounds, means that a refund is not a quick call to the card provider...

Why would gaming companies use virtual currency? Several reasons really. The obvious answer is that a gaming company will take any form of payment, they really don't seem to ask too many questions when you pay them, only when you cash out... But there is a subtle reason they are happy to take the crypto. As a virtual currency, you can aquire or build a stock of currency. It is not obvious, but crypto currency fluctuates, so this reserve is a pretty volatile stock but as we keep seeing, the rise and fall means at some point, the asset will be worth more than its aquisition price. In some cases this has been a great investment, in others a roller coaster of ups and downs.

Should you take crypto currency? Well, it is a personal choice, making a decision is something you need to weigh up, our advice is never keep more than a marginal stock of virtual currency on your accounts. The volatile nature means if you set a 5% margin of risk you should be able to make profit when the price rises, however plan for total failure. Nobody advertises the drops in these markets, they exploit the peaks and the media is all over the currency when it is doing well.


 
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