Everyone who’s into technology trends in the past few years have already heard something along the lines regarding cryptocurrencies “I’d be a millionaire today had I bought Bitcoin 10 years ago.” That’s pretty common, given the sharp rise this crypto in specific had back in 2020.
Even for those who didn’t directly surf the 1st big crypto wave, had their lives indirectly impacted by these virtual coins, as they’ve been pulling the strings in lots of different fields and industries all over the world. Surely, the situation is no different in Canada, as these coins have played a very important role, especially amongst Gen Z and Millennials.
One of the industries that have experienced an enormous direct impact from the cryptocurrency market is surely the Canadian casinos online one, as crypto went from nonexistent to the extent where a lot of niche casinos only take cryptocurrencies these days. These latters are better known as crypto casino websites, and they’re quite famous overall as well.
Given our intro, you may already guess we’ll be discussing a lot about gambling and cryptocurrencies today. In order to do that based on solid arguments, we’ve contacted crypto gambling expert, Michelle H. Thomas, who is from Canada and brilliantly exposed her point of view on the subject, and her argumentation made the foundations we needed in order to craft this text. With that said, we couldn’t really start our casino bitcoin content without this shoutout to Mrs. Thomas, who really an amazing jobbed here.
So, without further ado, let’s have a look at the impacts of cryptocurrencies on the Canadian gambling industry and what we should be expecting for the future.
The impact of Cryptocurrencies on the Canadian gambling industry
We start things off by stating that the advantages of blockchain gambling are obvious and irresistible, as they offer the following perks for those who deal with them:
- Decentralized financial
- Instant deposits and withdrawals
- Fee exemption
And many other few perks that any crypto gambler would have dreamed of five years back.
The aforementioned perks are only the beginning of the impact these virtual coins created in the industry, leading them to become one of the favorite payment methods for gamblers.
Not only has demand increased for crypto casinos, but the supply itself has also expanded, with strong incentives for cryptocurrencies on the part of websites. One of the main incentives in this regard has been the creation of promos, and games aimed at the dissemination and use of cryptocurrencies, who believe it or not, are quite a thing in 2023.
Indeed, every road apparently leads gamblers to a point where crypto casinos are here to stay. But, is that really the case?
Cryptocurrencies and Casinos – Here to stay
Just like we were saying a few lines ago, apparently crypto casinos are here to stay potentially forever. Indeed, you don’t even need to have a crypto wallet in order to deal with them within the casinos nowadays, as you can convert your Canadian dollars straight to the coins you’re more interested in gambling with. However, it would be interesting for you to have a wallet for when your time to get those big withdrawals come.
When we go check the list of the most spread crypto methods throughout the casinos we have in the industry nowadays, it is most certain that we will find Bitcoin, who’s simply the pioneer and the most valuable virtual currency in the world, leading the industry till these days.
We can also notice that Ethereum, which works slightly differently in terms of concept compared to Bitcoin, also is quite popular, followed by the likes of Solana, Dogecoin, Tether, and Litecoin also attract a lot of gamblers to crypto casinos these days.
After what we’ve seen throughout this text, we can say for sure that advances in technology are the engine that makes this whole crypto industry progress. The relentless search for technological innovations that satisfy the new needs of players is essential to improve their gaming experiences.
In this sense, it is vital that brands manage to ensure that, also with regard to payments and withdrawals, the player can enjoy greater peace of mind, speed and efficiency. And it was exactly in this latter point that cryptocurrencies have excelled at when it comes to online casinos, and it is more than safe to say that they are here to stay for a very long time.