It has not been a long time since most of the world heard of cryptocurrency. This is the new era in the digital as well as the financial industry, which is completely different from traditional currency. Crypto has been used for a decade but the most popular became during the pandemic.
Because strict regulations limited movements, people started to create their daily lives in the digital world. This is how classic money transactions are significantly changed into digital currency transactions. From the beginning till today, there are dozens of cryptocurrencies available. Each of them has specific features which are most commonly connected to fluctuations and their frequency. The most well-known digital currency is Bitcoin but some of you also use Bitcoin Cash, Litecoin, Ethereum, Dogecoin, and many others.
From 2020, cryptocurrencies started enormous growth with prices as well as availability. Even though 2022 was very hard for the digital world as well as crypto investors, popularity has not reduced. The area of using crypto is so extremely increased, that in some industries classical money transactions are no longer popular. Many experts still think that crypto will substitute paper money. But the reality showed that the prediction was approved only in some sectors.
This is exactly how in some industries, using digital gaming became more popular, and old money is no longer widely used. In this article, we will cover the contrasting trends in money transfers, iGaming, and online trading.
Money Transfers With Crypto – Would You Expect This?
More than 320 million people are using cryptocurrencies, which is the highest in Asian and European countries. This is 4% of the world’s population and only includes 2 years of massive use. The leading countries where crypto is more popular are the USA, India, Pakistan, Nigeria, and Vietnam. The average age of users is pretty low.
Crypto can be changed to anything. Because the system is decentralized, you are avoiding regulations from the local government. This means you can simply make crypto transactions under more stable conditions. Because there are no limits on location and the government is not your regulator, making money transactions became more popular, especially with USDT. This comfortable condition as a cheap cross-border possibility has become the reason why people still prefer crypto for financial transfers.
Additionally, it is faster and more flexible. Requirements and conditions are united and fully transparent. To conclude, freedom is the central reason why digital currency is dominant in money transfers.
Why Is It Attractive To Enjoy iGaming With Digital Currency?
The digital currency became one of the main reasons why iGaming is very popular today. Playing online games with different fiat currencies is quite a complex process. Especially for those who live in non-EU or non-US countries. Also, it is uncomfortable for those who have a national currency that is not widely used.
Another reason why cryptocurrencies are better to use instead of real money is because of privacy. Access to the games is easier because you don’t have to exchange currencies and also can make transactions anonymously, with the highest quality of privacy.
For example, if we look at biitcoincasinoreviews.com, it is clear that most of the trustworthy online casinos provide crypto playing. For example, the top 3 casinos such as Stake, JustBit, and PlanetaXbet, all provide amazing gaming opportunities for crypto players. They have massive welcome packages with free spins and BTC prizes, and also, provide an amazing VIP club. Each casino includes more than 1 000 casino games and you can activate these bonuses only with cryptocurrency. So as you can see, crypto playing not only provides a more comfortable gaming experience but gives you more diverse opportunities.
Online Trading With Crypto – What Are The Advantages?
Online trading became more popular because of crypto. As we said, transactions and their simplicity are the key factors in why cryptocurrencies are so widely used. Similar to iGaming, online trading is more comfortable with cryptos. You can trade with low commissions and fast transactions. Also, you can get high privacy. You can make anonymous transactions.
If you used to wait 3 working days for transactions or withdrawals, with crypto, you can make the same operations instantly or wait a maximum of 24 hours. Safety is another reason why online trading is dominated by crypto. Information is more transparent, which automatically raises the safety level. You are not required to fill out boring forms with tons of mandatory information. With digital currencies, you can only insert very general information and even make a high-privacy trading experience.
Another great reason is that this is the way to be protected from inflation, which always was and will be the main enemy of the financial sector. It depends on dozens of reasons and significantly damages investors. Cryptocurrency is the best solution for those who want to be more stable and also experience online trading with a diversified system.
