Advantages and disadvantages of using cryptocurrency as payment for games and entertainment

Ludvig
21.02.2022
116 Views

In recent years, it has become more and more popular to use smartphones and tablets to play or entertain oneself. Thanks to the rapid development of the internet in recent years, opportunities have flourished that we previously did not think were possible.

Whether it is streaming movies, attending concerts, seminars or courses, it is possible to participate digitally. The gaming industry has long been a leader in the digital market and they are constantly working to be able to offer better and more entertaining games.

Common to all that offer something digital is that they want to get paid, and it is often you will find a payment wall the best experiences will hide behind. To get access quickly, digital payment solutions have also been developed, but like all other FIAT-based solutions, they often come with large fees and a waiting time of up to 5 days.

Cryptocurrency

Cryptocurrency was invented in 2008, but launched in 2009. Bitcoin was the first of what has become an unprecedented number. New ones are coming all the time and some are stopping. There have been many stories of people who invested early who have made a very high profit .

If you want to play online casino at High Roller or other online casinos, it has also become more common to use cryptocurrency and digital solutions. Other types of games have also started to use cryptocurrency through Play to Earn.

Dette bør du ha i bakhodet ved kjøp av kryptovaluta

The benefits of paying with cryptocurrency

One of the biggest benefits of using cryptocurrency is the anonymity that comes with it. As long as you do not share your passwords or key, it is quite difficult to track transactions.

Much faster and smaller fees are also some benefits that are important to keep in mind. If you play at an online casino or make a trade where you are to receive money from a person abroad, it will be super quick to get an amount transferred through the use of cryptocurrency. The running fees will be much less than in a regular bank and the money is yours almost instantly.

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Disadvantages of paying with cryptocurrency

It is not always an advantage to pay with crypto, volatility ensures that. Therefore, it is important to know if there is stability in the currency you want. There are currently crypto exchanges that provide an instant conversion, so you can be sure to pay or receive the amount you need.

Not everyone has cryptocurrency available yet, and therefore there are digital providers that help you convert to a solution for you. Amazon allows you to buy a gift card with crypto , again you can use the gift card to shop for.

Summary

There are many advantages and disadvantages that one can not include in a short article, so it is important that you keep an eye on the cryptocurrency that you have invested in, you need to check the volatility and make sure that you are comfortable using it .

More and more players are getting paid with cryptocurrency, whether you want to play, travel, or experience new things, even education can be paid for through cryptocurrency. In the future, there will probably be restrictions and regulations from the authorities, but in the market it is seen as something positive.

Author Ludvig

Ludvig har lang erfaring med kjøp og salg av kryptovaluta. De senere årene har han tatt det til et nytt nivå og prøver å leve av kryptovaluta trading. Han følger godt med på markedet og har opparbeidet seg god kompetanse på teknisk analyse mm. Vi er veldig glad for å ha Ludvig med på laget, og er det noe du lurer på angående kryptovaluta er dette mannen du spør!