The latest advances of Bitcoin into the online gaming industry

Bitcoin is often spoken about within the tech industry, as there are often new advanced and applications of Bitcoin that are being discovered. Bitcoin is a crypto-currency. This means that it is an international virtual currency that is not controlled by a national reserve bank. One of the latest and greatest uses and applications for Bitcoin have been in the online gaming industry. More and more online gaming platforms are allowing their customers to use Bitcoin as a form of payment. There are many advantages of using Bitcoin as your currency of choice when paying for online gaming services, here are some of them.

It is anonymous

One major advantage of using Bitcoin is that you do not have to upload your personal details, including your banking details to make payments for online gaming. This means that you risk less, by not having that information out there. With Bitcoin your anonymity is guaranteed. Especially for high profile players, this is a big concern. Bitcoin allows you to keep your personal information private, which is a huge advantage.

Better security

When it comes to security, Bitcoin comes in tops compared to other currencies. You are not going to find a more secure way to make payments on the internet, than with crypto-currencies like Bitcoin. While using normal currencies to pay for online services is still relatively safe, there are still chances for very sophisticated hackers to try breach these systems. Such things are virtually impossible when it comes to paying with Bitcoin, though. For those of you who want peace of mind, using Bitcoin is a good idea.

You can mine it

Using Bitcoin as your currency of choice online is a good idea, especially if you plan on mining it. Don’t know what mining Bitcoin means? It means that you can earn more money by using the Bitcoin network. This is because it is a peer to peer network. Using software you can solve various problems and get Bitcoin in exchange for this. This creates an added incentive to use Bitcoin.

It is cheaper

This is something that many people do not know, but the transaction fees for Bitcoin are much lower than they are for other standard forms of payment, such as using your credit card or debit card online. Why would you opt for the choice where you have to part with more money? It just makes sense to go with the less expensive option. Especially if you are playing international online games that rely on favourable exchange rates between local currencies, this is something you no longer need to worry about.

You can use it at many places

In the past, when Bitcoin was a relatively new idea, it was not accepted widely as a form of payment. However, now that Bitcoin has been around for almost seven years, there are more and more online gaming platforms that allow you to pay for their services with Crypto-currency such as Bitcoin.

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