Cryptocurrency no longer an iGaming novelty

Once thought of as just a passing trend, cryptocurrencies are now becoming fully integrated across the global iGaming space. These new currencies appeal to both technology and crypto-enthusiasts and to the gambling industry because of the advantages they offer at both the player and operator level. The risk of having funds stuck in complex payment systems or, worse still, lost altogether, is significantly reduced. And, by replacing actual money, the cryptocurrencies reduce requirements for extensive and often sensitive identity information to be shared or revealed. That said, the decentralisation of digital currencies through blockchain technology ensures unprecedented levels of transaction security. At the same time, full transparency of historical movement allows operators to ensure that funds have not been laundered. Blockchain wallet-to-wallet transactions eliminate the need to use external payment systems, meaning that operators benefit from smoother transactions and lower costs. The fact that players also benefit from increased anonymity and security means that cryptocurrencies are now having a very real impact on the iGaming space, where speed of transaction is a huge driver.