Little by little, cryptocurrencies are making their way into the virtual world. We never thought that something like this could ever happen, because who could have imagined that money would ever not be physical so that we could not touch it with our own hands?
A lot of progress has already been made with the creation of credit cards, and even a few years ago we were still amazed at the possibility of paying directly with our mobile phone or smartwatch without having to take the card out of our wallet.
Nowadays, cryptocurrencies are being used in several sectors, and one of them is the world of gaming. More and more gaming companies, like gambling companies, are choosing to bet with cryptocurrencies as a form of payment, as it offers a convenience that many of its users appreciate. Some of them resort to free online casino games to enjoy roulette, blackjack, three-card poker, or baccarat to feel like they are in a real casino. Of course, users can rest assured that their data and virtual money, in this case, the cryptocurrencies in their e-wallet, will be in safe hands and there is no risk of losing it. In addition, they have benefits that not many online gaming websites have, such as bonuses.
Although this option of paying with a digital wallet will most likely also become available in every corner of the planet little by little. For example, the country of El Salvador has decreed the currency as official, so that all citizens can pay with it in any sector.
Topic of controversy
Since their emergence, cryptocurrencies have been a topic of discussion and controversy. For many people, it is an unnecessary currency, but for others, it is a revolution.
Those who are against them wonder what their fluctuation will be in the short and medium term, and also believe that they will eventually replace physical currencies. The reality is that, although there is no clear answer as to what the future of cryptocurrencies will be and how it will affect us, one has to wonder what a life with cryptocurrencies would be like.
With the pandemic, we are still experiencing today, and 2021 proving to be a historic year for digital currencies, we could be betting on disruption to traditional finance. Furthermore, banks such as the Bank of England argue that cryptocurrencies are highly unpredictable.
By this, they mean that if anyone is interested in investing in any of the many cryptocurrencies currently available, they need to be well prepared and know that the investment can go up or down, even fall to zero, and be lost completely.
The role of banks
Banks have every reason to be skeptical about cryptocurrency because if it works, they have a lot to lose. Some worry about the potential for decentralized cryptocurrencies to destabilize the authority or control of central banks, although there is still a lack of knowledge about these digital currencies, and many governments are beginning to slow down adoption by viewing these Cryptoassets as risky.
Despite what the public may think, cryptocurrencies, and especially Bitcoin, are becoming very popular and highly credible. The value of cryptocurrencies as a whole around the world recently reached $2 trillion.
It is clear that cryptocurrencies deserve serious attention, and it seems that they are getting it, as some financial institutions, crypto companies, and governments around the world are starting to adopt and implement them, as in the case of El Salvador, mentioned above.
The reasons why it is becoming an official currency are the advantages it has, including portability, divisibility, resistance to inflation, and transparency.
The future of cryptocurrencies
To the surprise of many, even Mastercard itself has already begun to embrace digital assets, and many Wall Street firms have announced that they will become active participants in the market.
It is already possible to see how interest in these digital assets is starting to grow quite significantly, and Bitcoin and other cryptocurrencies are already achieving extraordinary returns and growing legitimacy.
There is currently much debate about the regulation of cryptocurrencies, which confirms that it is worth taking cryptocurrencies seriously from now on.
