Digital currencies and blockchain technology have had an immense impact on kasinot across the globe. One of the areas where this impact has been very profound is in the gambling sector – which has also been known for embracing the latest technologies. Gaming operators have always been at the frontlines when it comes to trying out new and innovative technologies all in a bid to keep their customers happy and interested.
That said, it was only a matter of time before cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum, Ripple, and Litecoin among many others made their mark in the gambling industry. All of the features that these digital currencies promise are, without a doubt, very desirable features for gamblers across the world.
The result is a mutually beneficial arrangement where digital currencies get the necessary boost to go mainstream while the gaming operators get a front-row seat as the world ushers in the new age of next-generation digital payments. Naturally, there has to be a framework for this and thankfully its already being implemented in both land-based casinos and in online gambling platforms.
Crypto in Land-Based Casinos
Cryptocurrencies, since their conception, have always been digitized forms of payment. However, nearly everything is digitized nowadays. Still, brick-and-mortar casinos rely greatly on existing systems all of which are based on traditional payment options and fiat currency. Thankfully, there is a solution to this.
Lots of land-based casinos have embraced digital currencies. It is quite common to be able to pay with Bitcoin, Bitcoin Cash, Ethereum or any other digital currency at several dozen land-based gaming facilities. However, this does not mean that these casinos shove them down people’s throats.
Instead, the cryptocurrencies are used alongside other traditional forms of payments. As such, in most of these casinos, your digital currency will be converted to fiat currency which you will then use to play your favorite casino games. It is that easy!
Now, this might not necessarily be the future that most die-hard digital currency enthusiasts envisioned. However, the integration will certainly be a great way for the industry to market itself. Eventually, we might finally get to see mainstream crypto-online retail gambling space being made available but the existing solution is certainly acceptable. The wait might be rather long but thankfully the gears are already in motion which means that we certainly need to get ready for that future.
Crypto in Online Casinos
Online casinos are among the biggest beneficiaries of the digital currency revolution that is currently underway. In fact, it extends beyond just the digital currencies themselves to several other aspects including blockchain applications like smart contracts. The potential of these technologies can be said to be exponential especially because new use cases come up very often.
Initially, online casino sites that accepted digital currencies were considered to be underground gambling sites. This is true to some extent. However, things have since changed and legitimate Bitcoin casinos in the USA especially, have grasped all of the benefits that cryptocurrencies come with.
Today, there are tons of crypto-only casinos that give players a whole new online gambling experience. On the same note, online gaming destinations that existed long before crypto took off have also joined the bandwagon. These ones allow you to convert your cryptocurrencies into fiat which you can then use to bet on the platforms. Just like in the case of most land-based casinos, while there is indeed a growing number of digital currency users, the number of people who still use good old fiat is still pretty hard to downplay.
What the Future Holds
One thing is for sure – the future looks very bright for the world of crypto and payments as a whole. A good number of people and businesses including casinos are quite happy with waiting. Still, it is very impressive that we have gotten to a point where you can participate in this development. Now, if you have any type of digital currency you are assured of finding a gambling facility or platform that will allow you to use it.
There are a few things that, of course, need to be ironed out along the way which is expected of any nascent technology. Its rapid growth should, however, make up for this.
ISW Holdings Continues to Transition Cash Assets into Bitcoin with $20K Purchase Ahead of Mining Launch
ISW Holdings, Inc. (OTC: ISWH) (“ISW Holdings” or the “Company”), a global brand management holdings company, is pleased to announce that it is in the process of converting $20,000 of the Company’s cash holdings into Bitcoin. The Company also announces that it will be regularly conducting similar transactions on a quarterly basis to convert a percentage of cash flows into Bitcoin.
Management expects this transaction to be completed this week. The Company began transitioning cash resources into Bitcoin with an initial transaction in March 2019 at approximately $4,000/Bitcoin.
“We believe in the future of Bitcoin and digital payment systems, and cash represents an unproductive asset given the degree of monetary expansion, stimulus, and debt dragging down traditional currency systems,” commented Alonzo Pierce, President, and Chairman of ISW Holdings. “We are also on schedule to launch mining operations through our Pod5 solution at the Bit5ive renewable energy project by the end of January.”
The Company formed a joint venture partnership with Bit5ive, LLC, (“Bit5ive”) in May to build and deliver an elegant, powerful, and efficient data center pod design. The Proceso Pod5ive Datacenter is the result. Designed in partnership with Bit5ive, and geared primarily for the cryptocurrency mining industry, the Proceso Pod5ive Datacenter offers next-generation dynamic self-management functionality, plug-and-play operation, virtually non-existent maintenance needs, and an industry best-in-class 1.06 Power Usage Effectiveness score.
The Company’s first mining pod is set to…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…
Understanding the Dark Side of Bitcoin
Although Bitcoin is praised for its high-quality processes that lead a lot of people to wise outcomes and success, it has its own dark side. This side is less exposed to media and the people as it can possibly ruin whatever Bitcoin has worked for years, exerting lots of effort, expenses, and time. However, discussing this side will be a way for a better and deeper understanding to what Bitcoin really is and its main purpose and future. Given that, we have gathered the information already for you about the dark side of Bitcoin. So, let’s start!
Bitcoin provides a lot of advantages, but some government gave warnings that are not still founded entirely. The main reason behind that is that there are elements of criminality that seek to take advantage of the media hype and excitement around Bitcoin. One example scenario is when the cybercriminals launched Ponzi schemes that gave promises on investments through astronomical returns. After the money of investors have disappeared, this is the time when they realized that they were scammed. Therefore, the governments raised awareness advising the public to invest cautiously and uphold skepticism in life. If you want more information regarding this, you can go through the www.bitcoineras.com to better understand it.
Here are some of the ways wherein cryptocurrency is misused.