Things you should know about crypto gambling
The global gaming market is constantly evolving, and it is no longer rare to see how video games implement blockchain technology.
It makes gaming safer and faster, enables anonymous payments, and rewards players with tokens that significantly increase their interest and dedication. But before you rush to create a crypto wallet, take some time to read about what crypto gaming is and how it can improve your experience. Read our article and go to New Zealand online casinos approved by CasinoHEX to try the technology as well.
Definition of crypto game
Crypto games are games where users spend or earn cryptocurrencies instead of fiat money. It allows developers to add a new layer of reality to their games and ensure the safety and anonymity of players since blockchain technology does not require any personal details.
Nowadays, it is not rare to see games where players earn cryptocurrencies or non-fungible tokens. Non-fungible means that something is unique and cannot be replaced. For example, one BTC can be traded for another BTC and you will get the same. But one NFT card is completely different from another NFT card. You’ve probably seen funny cards sold for tens of thousands of dollars. These are the non-fungible tokens we are talking about.
How do crypto games work?
Game developers implement a variety of different methods and business models. First, these are games to earn (P2E) games that use blockchain to buy or earn game tokens. For example, early birds can buy tokens after the game launch and expect their value to grow as the number of players increases.
There are video games that sell in-game items (skins, virtual territories, weapons, etc.) for tokens. Some developers use NFTs to unlock new levels that motivate players to spend more in-game. But this one is quite difficult because it can lead to forced play. At NZ CasinoHEX, Grace Tennet likes to remind readers of the importance of doing reality checks and setting clear budget limits. There are also video games that reward users with crypto for participating in tournaments, completing missions or inviting friends.
Advantages of crypto gambling
There are several serious benefits that make crypto gaming one of the biggest game changers.
- Instant transactions
Most payment methods involve third-party processors that can lengthen transaction times and involve unnecessary intermediaries who have your sensitive data. Therefore, crypto is like a breath of fresh air. Deposits and withdrawals are instantaneous and require no intermediaries. Yes, there can be slight delays when the system is overloaded, but luckily there are many wallets and exchanges that eliminate this problem.
- More flexibility
As we have already mentioned, blockchain technology does not require any personal details. You can keep your email and phone number to yourself and bypass a number of requirements on your way to gambling. Regardless of your physical location, the transactions are clear and convenient, giving flexibility and accessibility to the process.
- Saves money
The first obvious advantage of blockchain technology is the absence of fees. Yes, some exchanges may charge you a fixed commission for the transaction (the more outstanding payments, the higher this commission). But video games don’t take any money on crypto payments, so the winnings are yours.
- Top security
When playing online or doing other types of activities on the Internet, security remains one of the biggest and most fundamental concerns not only for developers but also for players. Fortunately, blockchain is one of the most secure technologies on the modern market. It almost eliminates the chances of stealing your coins or personal details, and there are physical wallets that you can only access when you know a unique and rather complex seed phrase.
The future of gaming lies in blockchain technology
Blockchain technology is no longer a mysterious unicorn that no one is able to see. There are tons of guidelines and guides on how to become crypto-aware and implement this technology into your activities, including gaming. From our article, you already know why crypto gambling is good, and all that is needed is to start putting this information into practice. The best gaming tokens are ApeCoin (APE), Decentraland (MANA) and Sandbox (SAND), so open a wallet, buy more coins and take a step closer to the experience of a lifetime.
