What is Cryptocurrency?
A cryptocurrency is a virtual asset. That is secured by cryptography. It provides blockchain technology. That ensures decentralization, immutability, or transparency. This type of currency is immune to government interface. There is no need for any central authority. So, cryptocurrency can’t provide any central authority issue.
There are different types of cryptocurrency in over the world. But the most popular blockchain-based currency is bitcoin. Bitcoin is used overall the world for different purposes Bitcoin Revolution
Is cryptocurrency becomes the future of online gaming?
In recent years, cryptocurrency has changed the global phenomenon. There are a lot of industries that use cryptocurrency to get more benefits and convenience.
Now, the gaming industry is also joining cryptocurrency blockchain to get earning, 75% of online game players want to exchange virtual assets into the currency that is proved by the WAX report. They want to use this currency to buy and sell other platforms.
Cryptocurrency fulfills the wish of these game players. It enables game players to collect and trade in the form of virtual assets. They can exchange and trade their virtual assets anywhere in the world. So, cryptocurrency provides the gaming industry a safe effortless medium to make money.
How does a cryptocurrency work in online gaming?
Everyone can easily buy or sell cryptocurrency without having any problem. He/ She just needs a digital wallet to exchange cryptocurrency. When any user wants to send their cryptocurrency to another user. He/ She send cryptocurrency to their digital wallet. This transaction is done in a very short time.
Online gaming industry use cryptocurrency in different forms:
- In-app purchases
- In-app advertising
- Referral Marketing
The gaming industry uses in-app purchasing. That helps players to buy things directly in the game. Such as game coins, extra lives, and different types of characters. Players also buy items by using cryptocurrency.
Another method of using cryptocurrency is in-app advertising. In-app advertising is used in the form of rewarded ads.
Game players do these works to make cryptocurrency
- They complete specific tasks
- They watch videos
- Fill surveys
By doing these works game players can make cryptocurrencies.
Affiliate marketing is a new trend in the market. In which a game player needs to browser affiliate links and banners to refer a friend. He earns rewards by clicking on this type of link and sign up for free offers.
In recent years, cryptocurrency can be used in different casinos. Every game player can play or trade digital assets in online bitcoin casinos. It becomes the best method to play with cryptocurrency.
Android Games that can earn you Bitcoins
- Merge Cats
- OX Universe
These are the best android based games. That helps you to earn bitcoins. It is very helpful for players. They can enjoy games or earn bitcoins. It’s an amazing offer.
Benefits of Cryptocurrency in Online Gaming
The online gaming industry adopts cryptocurrency to solve their issues Such as transaction-related, decentralization of payment, and frauds.
When first-time cryptocurrency use in the online gaming industry. It solves many issues of the gaming industry that they face in the form of frauds. So, I explain some benefits of cryptocurrency in online gaming.
Cryptocurrency eliminates the authority of bureaucratism. And also remove inefficient payment processes. It allows game players to buy or sell crypto easily. And use bitcoin cryptocurrency to buy different this on games. It can save gamers time and provide them more joy.
We discuss the issue and solution of game players. But they are not single who face problems with local currency. Game developers also face difficulties in selling their game software outside the online App stores. Bitcoin blockchain allows these developers to sell their game software outside the App Store. And get their payment in bitcoin cryptocurrency form. This can save their time and give them release.
Ability to Play Anywhere
There are many benefits of cryptocurrency. But for gamers bitcoin provide the ability to play anywhere. A gamer can play internationally without any security and exchange rate issues. Bitcoin offers gamers to play without giving any proof of their identity or email. Players can play or withdraw funds anywhere in the world. Bitcoin payment helps gamers to play without any restriction.
Safe and Secure
Security is the main issue in the world. Everyone wants to make their money safe and secure. Some of the game players having trust issues with online gaming websites. They don’t feel safe while purchasing online games.
Bitcoin provides blockchain technology for online gamers. This blockchain technology prevents the illegal trading of digital assets. Blockchain technology terminates the hacking and stealing of keys. They eliminate the duplicate keys by making an immutable ledger.
Bitcoin currency helps players to buy or sell bitcoins in games. They are also confident to buy different things in-game. Bitcoin currency gains the player’s issue. Now, they feel safe and secure their money.
More for your Money
Bitcoin cryptocurrency is the most cost-efficient currency. It is the best currency method than credit cards, bank, or PayPal transfers. Bitcoin cryptocurrency can’t charge any extra fees. Every player knows the fees on bitcoin cryptocurrency. Players do not need to wait to transfer money from one account to another account.
When cryptocurrency is used by the game industry. It eliminates the amount of handling or exchange fees. Because bitcoin is a peer-to-peer transaction between users. It will help game players to fastly buy the game things. And help to boost up their game enjoyment. It will also help the developer to sell their software fastly.
Hide your Identity
The game players who play the game with a local currency are less secured. Maybe they save their money from frauds. But its personal information may be leaked. So, it becomes a big problem for everyone.
Everyone wants to hide their personal information from others. So, they try to do their best for this purpose. But with local currency, this is not possible to hide your identity. That’s why players use bitcoin cryptocurrency to purchase game or game things. Bitcoin is an anonymous cryptocurrency. That hides your address or personal information for others. And give you an efficient method to play with bitcoin.
I hope you will understand how bitcoin changes the method of playing games. How they secure gamers to play games without showing their ID. According to Newzoo’s Analytics Platforms, 2.7 billion gamers. Who spend around $159.3 billion US dollars invested in online games in 2020. So, now you will understand how much bitcoin cryptocurrency is important in the gaming industry. I provide you some names of android games. That helps you to learn about bitcoin currency or earn bitcoins. I hope this article is helpful for you and easy to understand. If you have any problems or questions about this topic, please ask them in the comment section.
Follow Techdee for more crypto related news.