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Paying by Cryptocurrency Is Preferred

Online gamblers are beginning to use cryptocurrency more, and affiliates are meeting their demands. Dov Allin of Marketing Cross Media states more affiliates are using cryptocurrencies as a payment solution, at least in Asia. It is more than convenience according to Dov. It is also a safety method for getting paid.

Cryptocurrency is not regulated yet, which makes it easier for affiliates to make their money through online payments, without government interference. Government crackdowns make it difficult in some regions to conduct business. Governments tend to look at the money going from operators to affiliates, which makes it highly restrictive for companies to conduct their business.

Bitcoin is one of the biggest cryptocurrencies in Asia being used. There is no issue, as yet, with government crackdowns, regulations, or even the ability to track the payments with success. An affiliate, according to Dov, had the police come to his house, he kept all documents to show that he is operating a business correctly, but they still came to his house to check.

Cryptocurrency is an alternative method. It is possible for affiliates around the world to trade in bitcoin without the scrutiny. For new operators, it is an effective management system.

How long cryptocurrency can maintain its unregulated state no one knows. There is supposed to be terrific transparency to check the legitimacy of the money trading hands. But, there are still plenty of questions that people have with how one is getting any value for the bitcoin they receive. It does seem the world is trying to adopt cryptocurrencies for payments given the benefits.

Malta Wants Regulation

Malta is testing cryptocurrency for payment validity. Malta gaming regulators have launched a cryptocurrency test to assess whether or not the payment method is as up and up as it is said to be. Several casinos are talking about adding crypto as a deposit method, but Malta wants to make sure they can keep their regulatory stamp on casinos that do offer such a choice.

The future may seem like it is in cryptocurrency, but is that the media are blowing it up online so that we take notice or is there some substance to the digital money?

Gibraltar is not sure cryptocurrency is ready to be added to gambling. Warren Buffet calls investing in bitcoin style currencies gambling instead of true investing. There is a way to go before bitcoin will be taken as the only payment method.

Mike Johnson

Mike made his mark on the industry at a young age as a consultant to companies that would grow to become regulators. Now he dedicates his week days to his new project a the lead editor of GamblingNews.com, aiming to educate the masses on the latest developments in the gambling circuit.