How Cryptocurrency Is Perfectly Suited to Gambling
Oct 01, 2019 09:23
Discussing the similarities between cryptocurrency and gambling has become tiresome. You can read up on the subject in almost every corner of the internet. However, crypto and gambling are not really the same thing, i.e. investing in crypto should not be considered gambling. Instead, they are two different entities that may appeal to people with similar characteristics or similar interests.
We’re not saying that crypto should also be considered a game. After all, crypto is a serious investment opportunity that can change lives. However, crypto and gambling have joined forces in many ways. They have teamed up to make online payments and security better - and they have even produced crypto-only casinos. From cheaper microtransactions to data protection, the match is mutually beneficial for the promotion of both industries.
If you close your eyes and picture a crypto investor and a gambler, those two people may not dress the same or look alike, but there is a good chance you just pictured two men. That is the cause of the media and gender roles, but it is also a consequence that both industries are occupied by more men than women. Almost 80% of males that go to crypto events are male. As a result, the average gambler and average crypto user is more likely to consider in the other. To some extent, the same could be argued about age.
3. Risk Takers
Let us reiterate that crypto investment is not the same as gambling. However, that doesn’t mean there are no risks when choosing to buy crypto or hold on to it. For one, you don’t have the security of a bank where any hacks or stolen money can be replaced. This means you need a secure crypto wallet to keep you protected.
Secondly, crypto’s value fluctuates much more than fiat currencies. In this regard, there are risks associated with crypto that will make it a fit for those that do not have strict risk-averse tendencies - just like gamblers!
4. Tech Enthusiasts
Some of us just love technology and how we are reshaping everyday processes. Gaming and crypto are both built on the developments within technology. If it wasn’t for these advancements the gambling industry would not be as successful as it was today. Similarly, if it wasn’t for the concept of blockchain technology and impressive mining farms, Bitcoin would not be alive and kicking. The bottom line? People who like technology are more likely to enjoy both gambling and crypto.
These are some of the ways that someone in gambling may have their head turned by the crypto world - and vice versa. Even though crossovers are plentiful, it does not mean you will be successful in the other industry just because you are a pro gamer or a savvy crypto investor.
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