The advent of cryptocurrency is yet another game-changer in online gaming. The sector has traditionally relied heavily on the availability of various payment methods such as e-wallets, debit and credit cards, prepaid cards, and bank wire transfers, amongst others. Hence, finding the very best transaction option has thus become crucial.
In response to the growing popularity of digital currency, crypto gaming emerged. Cryptocurrencies are a viable option because of their advantages, including decentralization, smart contracts, and cheap or no transaction fees.
More and more gamers will likely be lured to using cryptocurrencies as the technology improves and more players realize the profitable opportunities they may bring. Whether you are an avid gamer exploring non GamStop slots and other video gaming options, or a crypto enthusiast searching for information on the best cryptos for gaming, this article will come in handy. Listed below are the best crypto assets for online gaming.
Bitcoin
Bitcoin is a token that may be used to purchase goods and services online and stored digitally. Regarding online gamers, Bitcoin is by far the most popular cryptocurrency, accounting for most transactions in gaming platforms. It’s no surprise because it is the pioneer crypto asset.
Bitcoin is accepted by several online gaming platforms for player deposits. It is gaining popularity among gamers because of the complete anonymity and security it provides. It was launched in 2008 by a mysterious person (or corporation) named Satoshi Nakamoto. Bitcoin transactions are recorded on a public distributed ledger called a blockchain and are verified using cryptography.
Enjin
As a cryptocurrency built from the ground up for the gaming industry, Enjin (ENJ) is a popular option among both players and investors. The Enjin ecosystem is a decentralized market for virtual goods where developers may create and manage in-game objects that can be purchased, sold, and traded via the blockchain.
It has a user-friendly interface that facilitates the production of digital assets, including tokens, cryptocurrencies, and in-game currency. Users on the Enjin Network may do business with each other and pay with either ENJ tokens or Ether. The scalability, security, and cheap transaction costs of the platform have won over the hearts of game creators.
Ethereum
Ethereum is a decentralized framework for running smart contracts. There will never be downtime, censorship, fraud, or outside meddling. Vitalik Buterin, a programmer, created Ethereum in 2013. Blockchain-based consensus network with an embedded Turing-complete programming language was the first description.
Ether (ETH), Ethereum’s native currency, enables users to build decentralized apps. There are now hundreds of companies based on its blockchain, and it has risen to become the second biggest cryptocurrency by market capitalization, behind only Bitcoin. Most importantly, the digital currency is now widely used by gamers as a means of payment.
Ripple
The Ripple network, which also processes remittances and serves as a gross settlement system, is recognized by its ticker symbol XRP. In 2012, Jed McCaleb directed David Schwartz and Arthur Britto to create Ripple. Ripple enables safe, quick, and almost cost-free international money transfers of any size.
Since its inception more than a decade ago, Ripple has grown to become one of the most widely utilized cryptocurrencies in online gaming. It’s a standard way to make an initial investment with the hope of profiting afterward. When compared to other payment options, Ripple offers immense speed and convenience.
Tether
Pegged to the US dollar, Tether is a stablecoin highly desirable for online gaming activities. Stablecoins like Tether (USDT) are cryptocurrencies that aim to maintain a constant value via market mechanisms. Because its value is pegged to the US dollar, it has also found usage in the eSports industry.
Tether dominated the cryptocurrency market regarding trading volume in 2019, with the most significant daily and monthly volumes. Even more so than Bitcoin, so, it’s no surprise that a lot of people utilize Tether to play games and for several other online activities now.
Final Thoughts
Whether you’re interested in crypto gaming as a hobby or a potential investment, the age-old advice to “do your homework” is more accurate than ever. There are several options out there, and gamers must choose the best ones for the best outcome. Take your time to investigate each option, their offers, and compare the findings to your goals before making a final choice.
