When you think about cryptocurrencies, the first thing that comes to mind is probably not online gaming. It might seem like something which can’t work in an online environment, especially since there are so many restrictions on using it.
Because of this, most people assume that you can’t use cryptocurrencies in online games or for any type of e-commerce. However, that is not actually the case.
There are several ways in which you can use cryptocurrencies in online games. The truth is that there are many options available to you if you know where to look, especially when it comes to mobile games. One of the biggest problems with using Bitcoin and other types of cryptocurrency for gaming is acceptance by game developers.
However, many of the biggest companies like Epic and Xbox have embraced blockchain technology for what it is and how it can help gamers. There are also hundreds of independent game developers that accept cryptocurrency as a payment method.
One thing which you will almost certainly notice with games that use cryptocurrencies is that you need to buy tokens to use them on their platform. These tokens are usually available in the form of an ICO or they can be purchased during a private sale on platforms like BitcoinPrime.
Cryptocurrency is the Future of Gaming
Many experts believe that the gaming industry will benefit greatly from blockchain technology over the next few years, especially when it comes to things like shared ownership of property, completely secure transactions, and decentralized virtual economies.
The truth is that there are some very exciting changes coming in the gaming industry and cryptocurrencies are going to play a big part. Using cryptocurrency in an online game is not difficult at all if you know what to do with it.
The only thing that you really need to do is find a game that uses cryptocurrencies and purchase tokens from their platform when they become available. Tokens can usually be traded on secondary exchanges or they can be used directly within the game for things like daily quests.
Using cryptocurrencies in online games is one of the best ways to make your gaming experience even better than it already is. If you are someone who wants to use tokens instead of fiat currency, then this will definitely be something that you can do with ease.
By using cryptocurrency in games, you will be opening up a whole new and exciting world of gaming to yourself and this can be well worth it when you think about just how much better your experience will become.
Is Blockchain Technology the New Gaming Norm?
The gaming industry is no stranger to new technologies and technological advancements. Over the course of the last few decades, we have seen all sorts of different changes and ideas which have changed how people play games forever.
Unfortunately, some of these ideas just didn’t work out that well or they weren’t very popular with players themselves. However, there are some that have had a huge impact on the gaming industry and the world itself, like Xbox Live or PlayStation Network.
These are just some of the biggest names in online gaming today which changed how things were played forever. They showed people that you could do more with games than simply play them. For many, consoles are now an extension of themselves instead of just a way to pass the time.
Blockchain technology is something that also has the potential to change how games are played online and in an offline environment. Some people might not really know what blockchain is or does, but that doesn’t mean that they don’t use it every single day of their lives.
Benefits of Implementation of Cryptocurrencies In Gaming Industry
First of all, we have to mention the ability to quickly process the payment. It is not a rare case that many games today are offering various features that you can buy, which can improve the experience, visual aspects of the game, and even provide you with certain boosts.
The traditional method will involve the registration of credit cards, and you will have to accept the terms and provide a security code each time when you want to buy these virtual products. While this process is similar when you are using an e-wallet, the main advantage is that it is much simpler and faster.
Also, you should be aware of the risks when you are making any sort of online payment, especially if you are playing some less-known online game. The great thing about digital wallets is that there is no way for anyone to misuse your data and manage to steal your funds.
Furthermore, we have to mention the advanced possibilities that developers can have when they are using the platform with the blockchain background. It will provide them with a more accurate analysis of players so they can offer the best deals, personalized bundles, and new games. You can already find some examples of Bitcoin games where you can even earn money by playing. We expect that developers will pay more attention to this area in the future.
When it comes to the most popular titles, you still cannot use crypto for in-game micropayments. However, there is a way to go around that and still use your e-wallet to buy various items, skins, and boosts. You can do so by buying gift cards on marketplaces outside of the main platforms. For instance, you can find gift cards from popular platforms like Battle.net, Steam, PlayStation, and Nintendo, which cover most of the popular titles today.
The best example of how the implementation can benefit this industry can be seen in online gambling. A lot of people are now interested in spending their crypto on casino games instead of the money on their bank accounts. Some of the main reasons are related to improved safety, speed of transactions, and privacy.
There is no way for anyone to find out that you are playing these games, and there is no way to become a victim of some fraud. Also, the time required for payment is significantly lower when compared to standard banking, which can be longer than two days.
While there is a way to use your e-wallet for some micropayments, it is still not developed enough so the players could have all of the advantages. However, we expect further improvements in this field, which means that some new titles might have an option to use only your digital wallet while playing your favorite games.
This will make it much easier when you need to buy various virtual products and the system that is using the blockchain technology will be able to offer you with the best options at any moment.