PayPal Confirms It Will Offer Bitcoin — What Does It Mean for the iGaming Industry?
One of the world’s most popular e-wallets, PayPal, has confirmed it will soon have cryptocurrency capabilities. It has been rumoured for quite some time that PayPal will join the crypto game, and now we know it’s true.
PayPal will introduce this new option that will be available to its users. With over 300 million active accounts, we believe this platform will grow even more when it activates the cryptocurrency option.
At the moment, PayPal is hiring numerous blockchain specialists and cryptocurrency experts. Even though PayPal first showed its interest in cryptocurrency back in 2013, the company didn’t want to rush anything. It monitored the development of cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, and only when it was certain of the crypto success did it decide to act on it.
We can’t predict whether the future of PayPal will be taken over by cryptocurrencies and how people will respond to it. Even though Bitcoin has been around for quite some time, people are still skeptical and feel more comfortable using regular local currencies, which we entirely understand.
If you’re not sure how Bitcoin works, you can always consult some reliable sources and learn more about it. That way, you might even want to try dabbling in cryptocurrencies.
The real question here is — if and how will it affect the online casino industry?
Bitcoin Casinos Are Growing in Popularity
The online gambling industry has constantly been developing and keeping up with the latest trends. Now, if you’re looking for an online casino that accepts cryptocurrency, you will notice that there are two groups — casino sites that, among other regular currencies, also accept crypto and casinos that only accept payments made in cryptocurrency.
If you’re still not sure if you want to give Bitcoin a try, you can always choose a regular online casino. However, if you do want to make payments in cryptocurrency, you will have plenty of choices. In recent years, Bitcoin has infiltrated into various industries, online gambling included. Today, you can easily find dozens of online cryptocurrency casinos.
To make the matter even more interesting, crypto casinos have a wide range of casino games with Bitcoin. They can easily compete with some of the most popular online casinos.
When payment methods in online casinos are concerned, PayPal is among the most popular ones. Moreover, the fact that you’ll be able to pay in crypto via PayPal makes online gaming even easier and more enjoyable. Given that PayPal is one of the most reliable payment options out there, we don’t have any doubts that it will stay the same even when crypto kicks in.
If you’re wondering why people choose Bitcoin as a currency, here are a couple of reasons. First, you can make payments anonymously, and that’s especially beneficial when playing on online gambling sites where your discretion is guaranteed. Moreover, there are no additional banking fees when you’re making transactions, and you can easily make payments via your mobile device, anytime and anywhere.