While Bitcoin’s price can be shaky, its value in the real world is tremendous. From merchants and schools to sports and video games, every forward-thinking sector wants a piece of the digital currency.
It's not just the big corporations interested in crypto. Regular people, more so video gamers, have found great value in using Bitcoin over fiat currencies. Here are the reasons why.
Cheaper for Microtransactions
Video gamers who spend five hours a day on video games spend at least $84 on their favorite titles. But they don’t spend this money all at once. They buy in-game items for cheap, usually cents or a couple of dollars.
Unfortunately, many e-wallets, banks, and credit cards have fees that drive the costs of making small payments immensely expensive. With Bitcoin, however, micropayments don’t have to be pricey.
Bitcoin’s miner’s fees tend to be much lower than the charges of many traditional payment options. The real savings, though, come in using altcoins for the same reasons. Some coins cost almost nothing for small and large transactions, leading to significant savings in the long run.
Safer for Bitcoin Online Casinos
Online gamers who participate in sports betting and casino gaming understand the challenges of depositing from certain regions. Some banks outrightly deny payments to casinos, while others charge higher fees for these payments.
Bitcoin is an excellent alternative, and players love it. Not only can you deposit to popular casinos, but you pay lower fees. What's more, you're not limited by geographical lines. If you live in Brazil and want to use a British gaming website, bitcoin is the solution.
In case you’re wondering what the best bitcoin online casinos are, find a complete list at roulettesites.org. Some of these operators have bonuses as plentiful as £500. Crucially, they support crypto for both deposits and withdrawals.
Better for Anonymity
There are fewer things gamers love more than online privacy. They use VPNs to hide their IP addresses, adblockers to keep off advertisers and now Bitcoin to safeguard their financial data.
Of course, there are better coins for privacy and anonymity than Bitcoin, and they are what the most private gamers use for gaming payments. Altcoins such as Monero and ZCash hide your digital footprint so much that not even governments can trace you.
Bitcoin is Necessary for Blockchain Games
Blockchain games are gaining popularity, and deservedly so. First off, these games are adequately designed to provide gripping, re-playable entertainment. But more importantly, they are helping eliminate traditional payment providers.
So, how are they doing it? Blockchain-based games allow gamers to exchange in-game items—the primary moneymaker for most developers. Of course, developers can make some things extremely challenging to get unless you pay.
However, they don’t have the powers of controlling in-game items like developers who deal with fiat currencies do. The result is that games are no longer unnecessarily complicated, and in-game items aren't as tedious to find as they used to be.
Play Video Games, Earn Bitcoins
Pay to play Bitcoin games are gaining traction. Titles such as Satoshi's Secret, Virtual Football Pro, and Nord's War pay you small fractions of BTC to complete missions. The specific amount of cash you earn is equivalent to cents per gaming session.
But over time, a Bitcoin game can earn you enough money to buy groceries for a month. And if you select casino games, there’s a chance you could win thousands or millions of dollars. It’s happened before, including to mobile gamers.
Bitcoin can be Profitable
Bitcoin is more than a payment method. It is a tradeable asset that can increase or lose value. When it’s bullish, the price of 1BTC can increase by up to $1000 in a month. Unfortunately, it can also depreciate.
Video gamers buying BTC for its investment value already know the risks. They might use it to sell in-game items, merchandise, or their gaming accessories. Then they can exchange it with a stable coin—i.e., a digital currency whose value is tethered to a FIAT currency.
Tokenizing in-game Items
For a long time, in-game items such as weapons, skins, and cars have always been owned by developers. Sure, players can gain these items temporarily, but developers have the full rights they can use.
Not anymore, at least not in this age of bitcoin. These days, it’s fully possible to own skins and sell or trade them at your discretion. That has led to a niche industry through which gamers can tokenize popular in-game items.
Because crypto tokens can also appreciate and depreciate, an in-game AK-47 could rise in value naturally. The cost can be elevated by increased demand, although the vice versa is also true. Unfortunately, the tokenization industry is small, so it hasn't gained enough traction to see in-game tokens gaining significant value.
Blockchain Leads to Fair Multiplayer Gaming
The blockchain is Bitcoin's foundation, but it has a lot more benefits than people imagine. For example, it's now helping developers create games that don't rely on centralized systems in matchmaking.
Conventionally, matchmaking is a centralized affair. However, it's often difficult to match players who are truly equal in skills. As a result, the gaming experience becomes awful for lots of people.
With the blockchain in use, matchmaking doesn't have to rely on a few people's decisions. Instead, it uses a system that's decentralized and as such fairer. Unfortunately, this idea is far from becoming a reality.
The last crypto startup that attempted to decentralize MMO, Huntercoin, went viral for a while before losing popularity. It hasn't given up, though, and has been rebranding and making partnerships to actualize their dream. If successful, no one will ever have to complain about mismatch in multiplayer gaming again.
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