What Could The Crypto Industry Learn From Online Casinos?

Listen to this article

One of the main barriers to cryptocurrency for many people is the fact that it isn’t as widely adopted as it could be. The more people use crypto and openly talk about it, the more likely people who trust them would be to engage themselves. It was never going to be an easy feat to change the way we look at finance and how we use money, but cryptocurrency already shows us how the future could be. Online casino games are one of the ways in which we can analyze what cryptocurrency could do to engage with new audiences. After all, the industry is characterized by traditional gameplay being offered in a digital way. So, what can cryptocurrency learn from online casinos about engagement and uptake?

Showcase the Benefits of the Industry

One thing that is essential for cryptocurrency to do to gain traction is to show people why it is better than traditional methods. Those already in the know understand the security and safety features, as well as the anonymity and privacy offered. But many in the mainstream still don’t understand how this would work. Indeed, many don’t quite understand the benefits of not being tied to a single national bank or currency.

Online bingo has done this well and has shown traditional bingo lovers what they could expect to gain from playing online. As the growing range of online bingo games shows us, people are willing to engage in a digital way with previously traditional concepts. Indeed, bingo games online can take themes such as the Deal or No Deal Bingo, and appeal to new players as well as those familiar with bingo. The ability to add new concepts and gimmicks to the games through digital means shows an added benefit of moving online.

Consider the Smaller Steps Needed

The online casino industry also utilized the digital methods of payment before a lot of other vendors even contemplated it. A cashless society was always going to be a talking point, so the online casino industry accepted digital payment methods such as Skrill and Neteller to allow its players to use e-wallets to make withdrawals and deposits. Offering alternative methods of payment would appeal to certain users and help boost the digital payment industry itself.

Digital-first banking has seen a rise in the UK and the USA, and it helps pave the way for more alternative methods of finance such as cryptocurrency. By gaining attention and popularity for these features first, the crypto industry will be able to then sway people towards other digitized financial methods. Digital banking does have its benefits for millennials – who are most likely to consider adopting crypto.

The cryptocurrency industry isn’t struggling by any means, but it isn’t breaking through to the mainstream which would help it grow exponentially. Online casinos are a good example of how a traditional industry was turned digital and allowed to thrive. The same could be said one day of cryptocurrency with a push to showing the innate benefits of the service and contemplation of trying smaller steps first. Cryptocurrency will have its day in the sun and the online casino industry shows how this could be made possible.

%d bloggers like this: