Gambling Market Trends with Digital Currencies

The introduction of cryptocurrencies a few years ago revolutionised fund transfers, and made them much more efficient. Bitcoin transactions offer several benefits, such as low transaction fees and speedier processing, compared to transactions conducted with fiat currencies.

 

 

Unlike current currencies which owe their credibility to banks, digital currencies rely heavily on technology. Blockchain technology, is used as a means to ensure the security of money transfer, was first conceptualised in 2008 by Satoshi Nakamoto.

Roughly speaking, this technology plays the role of a distributed ledger. Unlike standard money transfer information, which is stored in a single location, details about transactions executed through digital currencies are shared between multiple locations around the world.

The cost-effectiveness and speed of payments are two of the main benefits that result from the use of cryptocurrencies. This is simply because no intermediaries are needed to make a payment, but only the parties involved in the transaction.

Another reason why people pay more attention to digital currencies is that they are seen as a good investment. Gamblers and bettors who prefer to handle their gambling-related transactions through digital currencies, tend to focus their attention not only on their market capitalisation, but also on their current price during decision making.