In recent years, cryptocurrency betting has taken center stage. Although many have been using crypto for a while, some still find the concept mysterious and suspicious. It’s perfectly natural to fear something you don’t understand, especially when it comes to betting.
Crypto Betting – Bring on the Old with the New
Gambling is risky business on its own, but not knowing where your money makes it all the scarier. But, have no fear. We would like to shed some light on the topic. Whether you want to try crypto betting or you don’t want to be excluded from a wildly popular question, we’ve got your back.
How Did We Get Here?
As Edmund Burke put it: “Gambling is a principle inherent in human nature.” – A statement confirmed by the many traces and indications of such behavior littered throughout history. Specific evidence points towards gambling having prophetic origins – sticks and stones and other objects being thrown to decipher what the future holds.
However, it wasn’t until small tiles from ancient China were discovered that we had actual concrete proof of gambling. They are believed to have been used in a lottery-type game back in 2300 BC.
Nowadays, it’s impossible to walk a few steps without encountering a gambling establishment or to go online and not have a betting site appear in an advertisement. Therefore it’s not shocking that the estimated amount of money spent on gambling each year worldwide is in the trillions.
What is the Origin of Cryptocurrency? And What is it for?
Many have undertaken the challenge of creating a digital currency but to no avail. That all changed when, in 2009, Satoshi Nakamoto introduced Bitcoin to the world.
Satoshi Nakamoto is an alias, but it’s unknown if it belongs to an individual programmer or a group of them.
Nevertheless, Satoshi managed to resolve many of the problems that have plagued previous attempts at producing a functional cryptocurrency.
Several years later, new cryptocurrencies started popping up, and today, almost everyone has at least heard of them.
Cryptos aren’t as enigmatic as they sound. First of all, they are real money, in that they can be exchanged for goods and services. Secondly, you don’t need to be an IT expert to use them. Managing them required a cryptocurrency wallet – you use this to store, send, and receive cryptos.
The hype surrounding cryptocurrencies may have died down a smidge since they emerged, but it’s far from over. People are drawn to cryptocurrencies because they offer efficient, secure, and anonymous transactions. Consequently, the crypto-user ecosystem hasn’t stopped growing over the past years, and the industry is now valued at over $200 billion.
A Match Made in Heaven
From the very beginning of the whole crypto craze, we all knew it – betting, and cryptos were going to meet. This merger resulted in crypto betting, which is currently conquering the online gambling universe.
It is not clearly predictable to say what the future holds for this powerhouse, but with billions of people being stuck at home these days, its prospects are positive. If the thought of crypto betting intrigues you and you’d like to know more about it, take a look at our infographic below.
Infographic Credit: https://betblokes.com/
Content Credit: Daniel Korolija – https://www.linkedin.com/in/daniel-k-ab6354195
