Bitcoin is the largest cryptocurrency in the world and remains the cornerstone of crypto gamers because of its flexibility. For everyone around the globe, including crypto gamers, Bitcoin is the fastest way to transfer funds without the help of a financial institution, all while saving costs.
What Are Crypto Games?
Crypto games are video games that reward players with cryptocurrency. These games provide gamers with an opportunity to turn video game rewards into real-life assets. This is done by exchanging cryptocurrency for fiat currency or stablecoins, which crypto gamers can use in everyday life. Crypto gamers can accumulate cryptocurrency such as Bitcoin by playing various games.
Crypto casinos, on the other hand, allow players to use cryptocurrencies to enjoy a Bitcoin dice game or explore live dealer games like blackjack and poker. Crypto casinos use blockchain technology to ensure provably fair outcomes, enhancing trust and transparency.
The difference between crypto casino gaming and play-to-earn (P2E) models is in their objectives. While both use cryptocurrencies like Bitcoin, crypto casino gaming involves wagering using crypto on games, where outcomes are based on chance or skill. P2E gaming models reward players with cryptocurrencies or NFTs for achieving in-game tasks. Despite these differences, both crypto casino gaming and P2E models share similarities in their use of blockchain technology, allowing for faster transactions, enhanced privacy, and the chance to earn in cryptocurrencies.
Why Bitcoin Remains A Top Option for Gaming
Here is a list of why Bitcoin remains the cornerstone of crypto gamers:
- Flexibility – Bitcoin is digital and allows parties to perform seamless transactions with no financial medium involved. Traditional banking methods can take up to 3 days to reflect while Bitcoin can take minutes or up to 24 hours.
- Sustainability – Bitcoin can occupy digital space for as long as it can. One bitcoin can also be divided into 8 decimal places, which is equal to 100 million Satoshi. Satoshi can be traded for real-world cash.
- Admissibility – Bitcoin is accepted in businesses and trade platforms and more people are using Bitcoin as a currency or investment in everyday life.
- Security- Bitcoin’s decentralized nature is hard to manipulate. This system records transactions on a public ledger, and once a transaction is confirmed, it cannot be reversed or altered. This makes it hard for anyone to try to forge transactions, therefore making Bitcoin one of the safest currencies.
How Can One Start Gaming with Cryptocurrencies?
Getting into the crypto gaming industry is easy. All you need to start gaming is a crypto wallet. This is a secure place that allows you to store cryptocurrencies. There are two types of crypto wallets. Hot wallets are essentially online, whereas cold wallets do not require an internet connection. Hot wallets are typically free, attracting a larger gaming community, whereas cold wallets tend to have fewer players due to their usual cost. It’s advisable to search for wallets that have features suitable for your needs.
Once you have chosen your crypto wallet, you can start looking into games that interest you. Each gaming platform is unique. Some platforms use software while others use web-based gaming spaces. You may also be required to buy a crypto before you start gaming. You can purchase cryptocurrencies through exchanges or the game’s official platform. Here are examples of cryptocurrencies that are usually traded:
- Bitcoin (BTC)
- Ethereum (ETH)
- Uniswap (UNI)
- Dogecoin (DOGE)
- USD Coin (USDC)
As soon as you have your cryptocurrency, you can store it in your crypto wallet. This is to ensure it is kept safe and secure. Lastly, you can start engaging with the gaming community and start playing to earn NFT, tokens, or other digital assets. These assets can also be exchanged for more rewards.
What is the Future of Gaming in Crypto?
There is no clear way to tell what the future holds for gaming in crypto. Based on the statistics, crypto gaming will continue to grow. There are millions of people in the world who use crypto for gaming, with 2020 having the highest number of 41.9 million users. Crypto has made gaming beneficial with its many perks ranging from portability, movability, admissibility, and sustainability. Gaming is no longer just fun, but highly rewarding. This is enough to say that the future is bright for gaming in crypto and that Bitcoin is yet to remain the cornerstone of crypto gamers.