As online casinos continue to skyrocket in growth, so do the innovative banking methods people use to gamble. If we’ve learned anything about cryptocurrencies, it’s that they are here to stay.
So, what can we expect from decentralized forms of payment this year? It seems that 2022 may emphasize some interesting crypto trends, especially concerning online casinos.
Cryptocurrency Trends You’ll See More of This Year
The past few years have seen wild swings of ups and downs in all areas of life, including crypto. As the market continues to adjust to its bumpy yet continued growth, we expect to see familiar trajectories and new cryptocurrency trends emerging.
More Price Volatility
It’s no surprise that crypto stands to remain volatile in 2022. You can see it when you look at Bitcoin. It was at an all-time high in April of 2021, then plummeted by $30,000 in July, only to spike back to $70k and drop again shortly after.
We anticipate seeing more of that across the crypto market as it experiences growing pains, and it’s certainly something to consider when investing and gambling with altcoins.
Decentralized Finance is Growing
Some say that decentralized finance (DeFi) is Bitcoin’s bank-like counterpart with more potential. However, DeFi is not without its challenges.
Fintech company, DeFiato aims to address the issues of scalability, credit scoring, and technological hurdles, making DeFi more approachable to average users. Look for more talk of these avant-garde banks in the media throughout the year.
Development in the metaverse space is set to boom through 2022. Cryptocurrencies are an essential piece of the puzzle, and there are bound to be roadblocks in any new frontier. Still, top developers are working hard to bring this into everyday life.
Once underway, metaverses will allow real money gambling, NFT trading, and a whole new way to play and interact with others.
More Access to Crypto ATMs
Currently, there are around 36,067 crypto ATMs worldwide. In 2021, Walmart announced a partnership with Coinme and Coinstar to install over 200 Bitcoin ATMs in their US locations.
We expect to see many more crypto teller machines into 2022 and beyond, potentially with various coin options that make numerous altcoins easily accessible to more people.
Watch Out for More Regulation
Crypto has continuously operated in somewhat of a lawless gray area, but that may soon change. President Biden signed an executive order devoting resources to ensuring the responsible progression of digital assets.
For now, the main focus is pinning down usage for terrorism and money laundering. As for long-term implications, this year may be the jumping-off point for more regulation.
Adoption of These Trends by Online Casinos
Online casinos accept cryptocurrencies and have done so for quite some time. Many gamblers prefer the quick, secure, painless transaction process compared to credit cards which can take days to pay out winnings.
Bitcoin and Ethereum are still the most popular forms of crypto. However, some online casinos are moving to expand their banking methods to include altcoins. Popular gambling sites like Wild Casino, Super Slots, and BetOnline offer more than a dozen altcoins in their banking methods.
Complete List of Cryptos Available at Online Casinos
Not all crypto casinos are created equal. As the financial world evolves, so does the offer of virtual currencies at gambling sites. Here’s a list of options you can use to fund your player account.
|CRYPTO||WIild Casino||Las Atlantis||Super Slots||BetUS||BetOnline|
10 Common Questions About The Current Cryptocurrency Climate
If you have questions, we have answers. Take a look at the most common FAQs below.
How are cryptocurrencies used today?
Cryptocurrencies are used for many things, like buying physical goods, investing, and performing any number of anonymous transactions.
Is the blockchain the same as cryptocurrency?
No, they are not the same thing. Think of a cryptocurrency as money and the blockchain as the bank processes that confirm a transaction’s legitimacy. While they are related, the blockchain is the security tech that supports a crypto coin.
Is an NFT the same as cryptocurrency?
No, an NFT is not a cryptocurrency. NFTs are non-fungible tokens attached to digital forms of art, video clips, avatars, or physical objects to signify ownership and chain of command. The one thing they have in common is that they both get verified on the blockchain.
Why are there so many cryptocurrencies?
The open-source use of blockchain technology allows any developers with the proper know-how to create cryptos and altcoins. People or companies tend to make them for specific uses or to solve a particular problem. Whether they work or not must be proven.
What is a crypto wallet?
A crypto wallet is a digital cloud or hardware-based location where you can safely and securely store your crypto until you need to pull it out for a transaction.
What’s an altcoin?
What are stable coins?
Stable coins are backed by a reserve asset making them worth the US dollar. They won’t fluctuate the same way other cryptocurrencies do.
Can my crypto get hacked?
Yes, crypto can get hacked. You need to be super careful with your information. If you are unfortunate enough to get phished or have your wallet address stolen, you likely won’t be able to recoup your funds.
Will I be able to buy crypto at my bank soon?
Some banks in the US are already offering crypto, but most major brands are not. That may change, but only time will tell.
Is it challenging to get started with cryptocurrencies?
No, it’s as simple as setting up an e-wallet and finding a crypto exchange to purchase coins. You can use your bank account or credit card to buy various coins, just like any retail transaction. Still confused? Follow our guide to get and use crypto at an online casino.
Keep An Eye Out for More Crypto Buzz
With the safety, anonymity, and speed cryptocurrencies offer, it’s easy to see this is the direction that some consumers and businesses are moving. It’s an especially practical banking method at real money online casinos.
Though there may be some bumps in the road ahead, it’s safe to say cryptocurrencies will be all the buzz in 2022.