Prospects for the Use of Cryptocurrencies in the Field of Online Entertainment

Cryptocurrencies have enormous potential in the field of online entertainment. They can make the services offered by companies more affordable, provide safer payments, and even change the way we play online. The popular Playngo provider was one of several providers to adapt its products for crypto gambling. Now you can play games with BTC and other coins, enjoying provably fair gaming with RNG results you can instantly check. It’s only one of the many examples of how cryptocurrency changes online entertainment. Below, we offer you our vision of the future of crypto usage in the sphere.

Blockchain-Based Payments Will Become More Widespread

The cryptocurrency market constantly evolves with new coins regularly introduced. The most reliable of them become widespread means of payment accepted by the entertainment sphere companies. Both brands and users tend to become more favorable to crypto payments, which means the number of corresponding transactions and their average sum will only grow in the future.

An essential thing for using crypto coins in the online entertainment sphere is the trustworthiness of blockchain-based payments and the reliability of particular coins. It’ll be possible when cryptocurrencies are fully recognized and regulated by state authorities.

Low-Denomination Coins Will Prevail

Using BTC costing a few tens of dollars to pay $10 for a service is not very convenient even if it is mBTC. This is where coins with lower denominations rival the first cryptocurrency. People often prefer to use DOGE, LTC, or USDC for regular payments. It also motivates companies to accept more coin types.

You’ll Be Able to Play With Cryptos on Most Gambling Sites

Crypto gambling is a promising trend in the online gaming entertainment industry. It allows you to use your coins as an internal currency of your casino account and places bets using cryptocurrencies. This requires special optimization of the gaming software. The biggest providers have already started doing this to make their products available for crypto gambling.

Using cryptocurrency in games will also make online gaming entertainment safer due to the provably fair mechanism. It works in the following way:

  • the random outcome of the future round receives a unique hash seed;
  • you play the round and get a certain result;
  • use the hash seed with special software to check the results’ randomness.

Provably fair gambling is already spreading throughout casinos. The participating websites have a digital seal of the Crypto Gambling Foundation on the main page. The number of casinos offering provably fair games with cryptocurrencies will only increase in the future. 

Stay Connected

Read On