If you’re not a crypto-head yourself, you might think that cryptocurrencies are its separate sector that doesn’t have much affiliation with other sectors. However, that would be quite incorrect as this industry has been working double-time to prove its practicality. Luckily, plenty of fields have opened their arms nice and wide and have benefited from it accordingly, so continue reading to learn more about this.
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Online Casinos
The first on our list is the tech-forward online casino sector, which is the digital alternative to brick-and-mortar locales. This sector has grown substantially from its relatively humble beginning back in the ‘90s and early 2000s, moving from simplistic graphics to hyper-realistic designs and sounds, allowing for a level of immersivity most traditional players couldn’t have expected.
So, what is the next step for this industry? After all, it has already implemented gaming, live dealer games, and even employed fun twists to classic games such as adding bonus levels to slot games. Well, it seems the answer comes in the form of cryptocurrencies.
Online casinos that provide bitcoin gambling are also known as crypto casinos. They offer all the same variety, options, and features as traditional casinos, while also sprinkling in the option to pay for them using digital currencies like Litecoin, Bitcoin, Ethereum, Tether, and more. This has allowed more users to join online casinos, more specifically, people who struggle with regular banks.
This is especially true for international payments, as they sometimes take longer to go through and are more expensive. Crypto eliminates these issues as they are completely decentralized, leading to a much smoother, and cheaper, experience. This can only be an asset in a sector where you want more bang for your buck.
Speaking of this, the cheaper fees are beneficial not only to users but also to the casino itself. This has allowed them to boost their ongoing promotions even further. We’ll use the Welcome Bonus as an example as it is one of the most popular options, created for new users.
Typically, if you use a regular payment like a credit/debit card, you could get a match bonus on your deposit of 250%, up to $1500. However, if you pay via crypto, regardless of which exact currency you go for, this goes up to a 350% match reaching all the way up to $2500. This is most certainly not an amount anyone would scoff at.
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E-commerce
The next sector that crypto has affected in a very positive way is e-commerce. This, of course, covers a very wide variety of products and services, ranging from the expected tech gadgets to more surprising fashion accessories. Similar to the above, the implementation of cryptocurrency has allowed more users to purchase things online.
However, one aspect we haven’t yet covered is the fact that crypto transactions are more secure and anonymous. One big fear many have over online purchases is how easy it is for hackers to steal your data and get into your bank account, potentially going as far as being stealing your money. And all of this from one simple purchase.
When it comes to crypto, everything is safer, since you’re not actually sharing any financial information. The only thing you are doing is sending money through your wallet with an address. Moreover, although the transactions are saved on a ledger, they are incredibly difficult to tamper with, and it is practically impossible to figure out who owns what.
Having this payment option has made people more trusting when it comes to online payments, which leads to more purchases. And since crypto transactions are basically only one-way, this benefits e-commerce platforms by ensuring there are no fraudulent chargebacks and thus ensuring no one is abusing this system and instead is going through the proper refund processes.
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Finance and Banking
You might be surprised by the fact that we have added this field to our list, as cryptocurrencies are sometimes seen as the antitheses to regular banking or, at the very least, as major disruptors to the industry. However, some might argue that it needed a competitor to ensure it didn’t stagnate.
The way cryptocurrencies work has inspired financial organizations to look into themselves. This is leading the sector to streamline its processes, focusing on reducing costs, along with improving its mobile and online services – a must in this digital era.
Finally, some banks have opted to incorporate cryptocurrencies and allow users to use them as a way to buy and invest in crypto. One great example is Revolut, which allows you to purchase from a long list of currencies and even send it to other users. This has opened up new opportunities for such banks to expand, and instead of becoming irrelevant, absorb it.
Conclusion
The modern world thrives on innovation, with consumers always demanding bigger and better things while expecting minimal drawbacks from it. As one of the relatively more recent additions to our everyday life, most of the hate that crypto gets comes from a lack of knowledge rather than actual problems, even when considering how volatile it is. Ultimately, we can already see how all of the aforementioned industries have benefitted from crypto, so it’s time to see how you can leverage it too.
