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Crypto gaming is a term commonly used to describe a sector of the global multi-billion-dollar digital entertainment sector that incorporates blockchain technology and smart contracts with entertainment.
But what are smart contracts…?
Smart contracts allow people like me who enjoy playing centralised and decentralised crypto titles like The Sandbox, Gods Unchained, Axie Infinity, Decentraland, and many others to make in-app purchases using cryptocurrencies instead of fiat currencies.
Transactions are facilitated by blockchain technology across a highly encrypted network, which includes either a partially or entirely distributed ledger structure. This relatively new form of entertainment is now more popular than ever, and over the coming years, it’s expected to overtake traditional gaming.
Still confused? Don’t be. I’ll try to break things down in a way that’s easy to understand for even the most computer/crypto-illiterate people out there.
Here’s why crypto blockbusters so popular today…
I would say that one of the main reasons why this type of content has become so popular in recent years is that they have a different approach than traditional types of games such as Super Mario, Grand Theft Auto, and Call of Duty. Crypto titles, also known as Play2Earn (P2E) or blockchain games, like the ones mentioned further up, give people a chance to earn or win real money, depending on their specific nature.
Others include Illuvium, Alien Worlds, My Neighbour Alice, and Blankos Block Party, and some of my personal favourites are Sorare, Splinterlands, Infinite Fleet, CryptoBlades, DeFi Kingdoms, and Spider Tanks. The ability to earn money while playing has taken gaming to exciting new heights and has opened up a world of possibilities for the industry.
In addition to earning money, people can also use this technology to make in-app [or on-site] purchases as they play.
Cryptocurrencies and blockchain technology have both made this form of digital entertainment more accessible than ever, and I have a feeling that it’s here to stay for the foreseeable future. In fact, I believe it will completely revolutionise the industry as we know it as it continues pushing the boundaries of what is possible in an already-burgeoning sector.
Using Crypto on iGaming Sites
Cryptocurrencies like BTC (Bitcoin), ETH (Ethereum), LTC (Litecoin), SOL (Solana), XRP (Ripple), DOGE (DogeCoin), USDT (Tether), BCH (Bitcoin Cash), and ADA (Cardano), to name a few, can now be used to top up your online betting account.
However, if you live in the United Kingdom like me, you won’t find any UK-licensed sites that accept blockchain payments or crypto coins. UK sites also don’t accept credit card deposits or withdrawals.
People living in the UK can still access crypto gaming sites, but to do so, you’re best off using a VPN (Virtual Private Network) tool to access them by connecting to another region outside of the UK. If you’re currently looking for unique and exclusive offers, I would still suggest sticking to UK betting sites like those currently featured on the official AskGamblers review site.
Their highest-rated brands all accept a range of traditional online payment methods, such as PayPal, Visa and Mastercard debit cards, Trustly bank transfers, and the Paysafecard prepaid card.
Sticking to safe sites licensed here also means you can play in your own local currency of Pound Sterling, meaning if you’re still not quite sure about cryptocurrencies and blockchain technology, you can easily top up your account and cash out any time you like using currencies and payment methods that you’re more familiar with.
Industry leaders and experts expect it’s just a matter of time until UK-licensed operators accept cryptocurrency as a viable payment solution. I firmly believe that I will soon be able to use my Bitcoin or XRP balance to top up some of my favourite accounts so I can play my favourite online fruit machines and live dealer blackjack and roulette titles from award-winning providers.
For now, I will have to stick to playing on traditional crypto sites and metaverse worlds. I would rather not switch my VPN on to play on sites that accept cryptocurrencies because they aren’t as safe as non-crypto-accepting sites that are licensed here in the United Kingdom by the UKGC, where I live.
And to sum up…
This new way of playing digital content with cryptocurrencies has become safer and far more personalised thanks to several other technological developments, such as artificial intelligence and its numerous applications (generative AI, machine learning, and others).
For crypto gaming to grow, the industry needs cryptocurrencies to become less volatile and more widely adopted, which is exactly what we are starting to see happening right now, not just in this industry but also in many others. I think that it will be interesting to see what the crypto gaming landscape will look like in just a few short years from now, especially if things go the way experts predict they will.
And never forget…
The other thing that I mustn’t forget to mention is to always set a reasonable spending budget before depositing with crypto or your preferred fiat currency just so you can continue playing your favourite titles. In other words, play/gamble responsibly, and never log in to place bets or make in-app purchases while tired or intoxicated.
One of the most reliable and effective ways I’ve found to ensure I never exceed my budget is to set a monthly deposit limit. However, you can also set daily and weekly limits, session time reminders, spending caps, and win/loss limits.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
