Advantages of Crypto for Online Poker Players
Blockchain and cryptocurrency are currently rising worldwide and hitting the headlines, too.
CNBC.com reports that Elon Musk invested heavily in Bitcoin in February, seeing it experience a sharp jump in value. That alone helped raise further worldwide awareness of the potential of Bitcoin and blockchain. When a public figure such as Musk puts his name and reputation on something, it impacts it.
The effect was instantaneous, with bitcoin soaring to around $40,000 in the spring. The prediction was that by the end of 2021, that could have risen to as much as $300,000; deep into November, it sat at a somewhat more modest $47,000. It may be an uncertain investment, but the recent rise creates more interest in blockchain and crypto.
Another current boom market is online gaming, and while the two may feel removed from each other, they are both positively affected in early 2021. While the world ground to a halt last year, with many industries suffering closures, job losses, and financial hardship, some could thrive. One was online gaming, especially in the US, where some states have begun to accept such endeavors and legalized providers and sportsbooks. While restricted to their homes, people turned to mobile devices for entertainment and thus drove the online gaming sector forward.
The two can work together to benefit players, mainly because Bitcoin is becoming a popular way for players to fund playing online. As Poker.org explains, there are methods to play for free online, Poker.org explains, but many challenge themselves by playing for real money. Since the Black Friday online poker crash and the questions raised around the industry’s safety, much focus has been on protecting players against rogue providers. Bitcoin plays nicely into that drive for a better and safer online experience. Blockchain is powered by encryption, which makes it difficult for any data to be altered, which means players using it as a payment method can feel more secure than under usual conditions with less risk of Cyber Crime. Also, blockchain ensures your funds are safe without a central provider being responsible. Keep your key safe, and your funds are secure.
That protection applies to anyone who uses blockchain to pay for goods or services, but what other advantages does an online poker player get? One huge positive is lower fees for both providers and the players. One benefit of crypto, according to Frontierin.org, is that you do not need a middleman, a conduit if you like, to make payments. That results in far lower fees being paid out. Perhaps that is the provider’s benefit, allowing them to offer better Rakeback and lower-cost games. The player can deposit and withdraw safely and without financial penalty.
Finally, poker is a game of chance in which those playing serious games seek financial compensation for their efforts. ByAlayer adds a potential reward to the pot. by paying in Bitcoin and winning in BitcoinLet we say that you win a figure in Bitcoin and transfer it to your wallet: the market’s volatility could make it worth 50% more in a month, or if analysts are to be believed, maybe even 100% more. That is a tremendous additional benefit for a poker player who is naturally comfortable taking risks for possible gains.
Blockchain and crypto are here to stay; they are penetrating common culture and offering benefits to people from all walks of life and several industries. It just so happens that two growth industries can complement each other perfectly as we boldly enter the post-pandemic era.
