Benzinga – As Sports betting and esports have witnessed a surge in cryptocurrency and blockchain technology. A number of platforms now accept digital currencies such as bitcoin. Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC). Dogecoin (DOGE). ).

What Are the main advantages of using cryptocurrencies for gaming? TransparencyBased on Urban Matter.

AdditionallyThe decentralized nature of cryptocurrency makes it a secure choice for transactions. As customers don’t have access to their private keys, hacking becomes much more difficult. AdditionallyBecause the transactions are transparent, anyone can inspect them.

It It is also worth noting that digital currency offers anonymity and privacy which could be extremely beneficial for esports players in countries where online gambling is not permitted.

Cryptocurrency It can also have a major effect on the expansion and popularity of online gambling globally, as it allows people from all over the world to take part in the betting process without the limitations of traditional banking methods.

According to a report by ResearchAndMarkets.com, by 2023, the global esports betting market shall be valued at $8.5 billion, so it’s only natural that using cryptocurrency on esports betting sites will continue to rise as these altcoins become more popular.

UnfortunatelyAs with most things in life, it is not always easy to use cryptocurrency for esports betting.

First of all, cryptocurrency values ​​can be highly volatile, which is a disadvantage for both online betting platforms and customers: Since values ​​can fluctuate a lot in a short period of time, it can be difficult for platforms to calculate odds, and for customers to know how much they are actually betting.

In A lack of legal regulation can also make it difficult for online gaming platforms to operate legally and protect customers from potential fraud.

LastlyOne downside to using cryptocurrency is its complexity and difficulty of use by those who are unfamiliar with it.

OverallThe combination of cryptocurrencies and esports betting has had a very positive impact on punters as well as online casino operators. HoweverCustomers should not be afraid of fraudulent activities or hacking.

Next: Best Esports Betting Sites – Best Esports Bookmakers For Games Bonuses

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