Cryptocurrency continues to gain ground where only traditional currencies were used in the past, this is very commendable and you can bet with it at Bet22 , but why has the journey been so tough for crypto currencies, especially in the sports betting world? The first factor that comes to mind is volatility, and that is true, cryptos are very unstable and can easily be affected by market variables, but the problem goes deeper than that, here’s some details:
Government Regulations
Throughout the world, experts have agreed on the potential of cryptocurrencies to revolutionise financial transactions, but despite this enormous potential, some governments have been consistent in their opposition towards cryptocurrencies. Some have cited the risk of odd cyber criminals using cryptos to launder money, while others have pointed to the risk of terrorist financing among other financial issues that may arise.
It is also important to note on the other hand that some governments have promoted the use of cryptos, in fact, some nations have invested in crypto. It may be safe to say that crypto does not pose a direct risk to anyone, if good governance and cyber security are put in place, the fear expressed by those who oppose cryptocurrencies today can be mitigated.
Fear of Volatility
Because the Bitcoin market is so volatile, some people have used this as a pretense to demonise crypto sports betting online. The truth is that every currency and every financial market is at risk of volatility, it all depends on proper management of market factors, and engagement of relevant stakeholders. If cryptos continues to grow at the current pace and volume, fears of volatility will be a thing of the past as governments will have to use diligence and financial prudence.
The 2008 financial crisis has shown the whole world that no financial market or sector is immune to crisis, it boils down to proper management of emerging realities.
Crypto are not Traceable
Here is another point that detractors have noted about crypto sports betting, This is an attempt to overturn one of the best advantages of cryptocurrencies. It is true that crypto offers users’ anonymity, no one will know what you do with your money, how much you spend, or when you spend, isn’t that great? It protects your privacy, prevents undue pressure from governmental and societal hawks.
Conclusion
If you decide to look into Bitcoin gambling companies, try to learn as much as you can about the safest ways to use, store, and handle your money.
Gambling with bitcoins, like anything else, has advantages and disadvantages. As a result, whether a player chooses to use bitcoin to make deposits and place bets is entirely up to them. You can now make an informed decision because you are aware of all the advantages and disadvantages.
