The Benefits of Using Cryptocurrency When You Game Online
If you enjoy sports betting, gaming, or gambling online, chances are you’ve used a conventional government-run site. Despite their benefits, these sites serve primarily as a medium for government-backed money and legal tender, putting you at a distinct disadvantage when you win.
When winning at any casino in Canada, you will almost certainly be paid out in Canadian dollars, which is an unstable currency compared to the global oil-based American dollar. You are not alone if you want your winnings to accumulate interest over time or appreciate in value. If so, an online crypto casino is an excellent place to turn your Canadian money into the currency of the future.
Cryptocurrency has a reputation for being unstable, but there is a flip side to this argument, as there can be drastic fluctuation in the average currency. For example, the Canadian dollar was almost at par with the U.S. dollar in October 2007 and stayed within two cents of the US dollar until July 2008. The Canadian dollar returned to around this value in 2010 and remained close to the US dollar's value until 2014, when a deprecation in value began.
The Canadian dollar is worth about 25% less than its American counterpart, the greenback, making Canadians poorer every time they cross the border, but the American buying power remains strong. During this same period, Bitcoin launched, and the 14-year-old currency currently has a value of over CAD $38,000.
While crypto is often viewed as being volatile, it is more important to consider the coin an investment that you can buy low and sell high. Bitcoin prices in 2021 hit CAD $81,000 per coin, the current drop in value is a significant fluctuation, but this market will peak again. Before long, it will be a perfect seller’s market for those looking to get the added value of their cryptocurrency.
Governments worldwide are seeing the value in crypto as well. The leader of the Canadian opposition party, Pierre Poilievre, wants to ease access to crypto markets, seeing them as the currency of the future. Another populist who has promoted crypto is El Salvadorian President Nayib Bukele. He was initially scrutinized for trying to bring modern currencies into a country run on a federal reserve banking system. He was heavily scrutinized for it, but now outlets like Bloomberg are saying that investors are looking at the Central American country positively.
An online crypto casino is an ideal way to game since it allows you to win crypto without worrying about your money losing value as the Canadian dollar does. Crypto will bounce back as it has several times in the last year, making it a good investment.
Imagine winning CAD $10,000 at a casino; after a month, it will still be $10,000, but winning crypto, your prize money could gain 50% or more in value in as little as five to six months.
Play the smart way online at a crypto casino, keep your money safe and private, and win something that’s an actual investment, not fiat currency.