Cryptocurrency has continued to grow at a rapid pace, and whilst it still remains some way short of replacing fiat currency and becoming a mainstream payment method for many, there are a number of industries that have already decided that they would accept it.
Of course, anyone that has as much as an inkling about crypto will know about how virtual currency such as Bitcoin is incredibly volatile and can be worth a shade of what it was within a matter of hours without any prior notice.
However, the fact that some of these coins can be worth an incredible amount of money shows that there is a lot of confidence in them and that they could be the future when it comes down to using them as a way of payment. Indeed, they offer a number of exceptional benefits and advantages that fiat currencies simply cannot offer.
Casinos are one of the industries to have started to embrace crypto payments
The online casino sector is one such industry that has already started to embrace crypto as a payment method, with many operators having decided to create platforms that have been specifically designed with this in mind.
Crypto holders are able to play some of the latest casino games with Bitcoin and Ethereum and continue to enjoy the same experiences as they would have before crypto had ever existed. However, many will also feel that they have enhanced their overall experiences as they will be able to take advantage of the higher levels of security, anonymity and even make faster transactions because of the blockchain technology that is being used.
Although the number of online platforms still remains relatively low compared to those that offer traditional services, it would be wise to expect many more of them to emerge in the very near future as the two industries actually seem to be rather intertwined with each other.
Were casinos the quickest to adopt crypto payments?
There will be some debate about whether online casinos were the quickest to adopt cryptocurrency as a viable payment method, though, as there is evidence to suggest that many other companies across a variety of different business sectors all looked at it before they had.
For instance, the travel industry is one such sector that had made bitcoin payments available to travelers, as American travel agency Cheapair began accepting it back in 2013, which then had a domino effect on other operators, including major European low-cost airline, Norwegian Air.
The entertainment and sports industry has certainly embraced crypto in more recent times, with football clubs providing it as an alternative payment method for fans to purchase merchandise and even tickets for matches.
Additionally, tech companies such as Microsoft and PayPal have all made sure that they were at the forefront of the latest innovations and were involved in crypto payments in some capacity, whilst the car industry has also seen the use of crypto continue to expand as high-end sports cars are continually purchased via the method.