The Growing Adoption of Cryptocurrency
The number of verified crypto users surged from 5 million in 2016 to 25 million in 2018, and an astonishing 295 million by December 2021, as per Statista [1]. The majority of crypto investors—76%—are between 18 and 40, while older generations remain more skeptical of blockchain technology.
However, crypto is steadily entering the mainstream. For example, during the Qatar World Cup, Crypto.com’s branding was visible across stadiums, and fans were able to use cryptocurrencies for transactions.
Hvað á að búast við árið 2023
The team at CryptoChipy predicts steady growth in the crypto space, with crypto casinos experiencing explosive expansion in 2023. Why? Many crypto investors, seeing declines in their portfolios, are seeking alternative opportunities with higher risk and reward potential. The increasing number of online casinos accepting cryptocurrencies is opening new doors for both players and operators.
“Given the rapid growth between 2016 and 2021, I anticipate the crypto market will exceed 500 million verified users by the end of 2023, despite the challenges of 2022,” said Markus Jalmerot, Co-founder of CryptoChipy.
A Singapore-based crypto payments provider estimates over 600 million users by early 2024 [2]. Surprisingly, their data reveals that more women than men are becoming interested in digital assets. For instance, 57% of crypto enthusiasts in South Africa and 55% in the UK are women.
Shifting Dynamics in iGaming
Another major software provider reports that the number of people using crypto for gambling doubled between 2021 and 2022 [3]. While traditional casinos still dominate, the gap is closing, and within the next decade, crypto could rival fiat currencies in iGaming.
Altcoins Rising in Popularity
Though Bitcoin (BTC) remains the most recognized cryptocurrency, other coins like Ethereum (ETH), Litecoin (LTC), and Solana (SOL) are gaining ground. Solana, in particular, has become a favorite among casino operators for its speed and reliability. Experts predict its popularity will continue to grow in 2023 and beyond.
The Appeal of Crypto Deposits
One major advantage of using crypto in online casinos is the ability to make instant withdrawals. Unlike traditional platforms that can take days to process transactions, crypto offers a seamless experience. Additionally, transaction fees are often lower than those associated with fiat currencies, making it an attractive choice for players.
Even in a bearish market, many users prefer to use their crypto holdings for entertainment, such as online gambling, rather than watching their value decrease passively.
Horft til ársins 2023
The future for crypto casinos looks bright. As crypto adoption grows, so will the popularity of casinos accepting digital currencies. The connection is clear: greater awareness and understanding of blockchain technology will naturally lead to increased use of crypto in iGaming.
For those looking to explore crypto casinos further, 2023 could be the perfect time to dive in. Platforms like iWild and LTC Casino are setting the stage for a thriving ecosystem where players can enjoy seamless, secure, and innovative gambling experiences.
