You’ve probably heard of cryptocurrency, at least Bitcoin or crypto casinos. Today it has become very popular. More and more people are interested in this area and want to deal with cryptocurrency. These new digital realities are invading the market and becoming serious competitors to fiat currencies. Also, more and more online casinos are introducing cryptocurrency into payment methods on their platforms.
Playing bitcoin or ethereum roulette nowadays is quite easy and even quite common. As you can see on Roku Casino, more and more providers are launching roulette games for cryptocurrency betting.
Thе quеstion is to find out what еxactly cryptocurrеncy is and, morе importantly, why it is so popular, еspеcially among onlinе playеrs. Many individuals sееking to undеrstand thе intricaciеs of cryptocurrеncy and stay updatеd on thе latеst dеvеlopmеnts in thе crypto world turn to dеdicatеd sourcеs of information likе Bitcoin nеws sitеs. Thеsе spеcializеd Bitcoin Nеws wеbsitеs providе comprеhеnsivе covеragе of Bitcoin and othеr cryptocurrеncy-rеlatеd nеws, offеring insights into markеt trеnds, rеgulatory changеs, and tеchnological advancеmеnts. Thеy play a crucial rolе in еducating thе public about cryptocurrеncy and hеlping еnthusiasts makе informеd dеcisions in this rapidly еvolving landscapе.
Cryptocurrency: Genesis
When talking about cryptocurrency, it often happens to invite the term with bitcoin. In fact, bitcoin was the first cryptocurrency to be launched, this in January 2009, under the pseudonym Satoshi Nakamoto.
However, it is necessary to go back in time a little further, and go to 1998, when Wei Dai wrote an article describing how cryptography could control online transactions with a new type of currency. A decentralized currency, without government or financial control, registered using blockchain technology, where transactions are established on a peer-to-peer network (peer-to-peer). The mining community maintains transaction history, system security, and logs.
Bitcoin was thus the first cryptocurrency to be launched. However, as of today and 14 years later, there are more than 20,000 cryptocurrencies. A number that is quite indicative of how important cryptocurrency is and how much money it circulates on the internet.
As an example, we can mention some of the most valuable cryptocurrencies on the exchange: Bitcoin, Ethereum, tether, Binance coin, USDCoin, ripple, Binance USD, Cardano, dogecoin, polygon.
Given the volatility of cryptocurrency, it is likely and possible that tomorrow (or in a few hours) the list will be completely different. This issue of supply and demand is one of the oldest economic practices. That is, the greater the demand for this or that cryptocurrency, the better it is considered and the more expensive it becomes.
Cryptocurrency: Popularity
There are some factors that can undoubtedly explain part of the popularity of cryptocurrency such as:
decentralization: the fact of not belonging to any government, nor having a financial or banking entity
anonymity: currency is stored in wallets and payments are made using unique keys
security: the security levels of a cryptographic system are among the most technologically advanced
freedom: can be used for any purchase, of any amount, anywhere, without the approval of a bank or other system
Value: Of course, the value of a cryptocurrency is one of the most attractive elements. It is important to remember, for example, that 1 bitcoin was worth, somewhere in 2021, R$ 380 thousand
Even so, the volatility of the currency (1 bitcoin was once worth R$280) scares consumers and the concept of cryptocurrency is not yet fully perceptible to the entire population – even more so when it comes to something that “only” circulates on the internet, without physical money.
However, buying cryptocurrencies at a stock exchange and creating a crypto wallet at dedicated websites are very simple processes.
Another important aspect that helps to promote the popularity of cryptocurrency is its use and dissemination by famous people or reputable companies, as well as the widespread use of the currency in most casinos and online bookmakers.
The phenomenon Elon Musk and one of his decisions to only accept cryptocurrencies to buy Teslas, caused the value of bitcoin to skyrocket, for example. Or yet, the sale of millions of bitcoins and the purchase of dogecoins, also the responsibility of Elon Musk, stirred up the cryptocurrency markets at the end of 2022.
Cryptocurrency: Usefulness
The most common use of cryptocurrency is the exchange transaction. The buying and selling of cryptocurrency in the market, influencing the value of coins.
Cryptocurrency serves as a reserve currency, but also as a transaction currency: buying or selling an asset with cryptocurrency is possible in many industries. The most common case is online casinos and bookmakers.
