7 Reasons Why Gamers Are So Obsessed With Cryptocurrencies

Many people these days are opting for alternative currencies like crypto currency for investing, trading and making regular transactions. This also includes certain demographics like big businessmen, regular investors, new entrepreneurs and even gamers. There are many Gamers these days who use cryptocurrency for their exchanges inside and outside of the game. There is also an introduction of new types of blockchain based games that are based on the transferring of cryptocurrencies like Bitcoin for a player to play those games. Not only are the gamers obsessed with cryptocurrencies, the game developers also seem to prefer cryptocurrency trading over normal bank transfer.

Although it must also be noted that gamers were one of the first demographics who adopted cryptocurrency into their regular transactions besides other investors. There can be several reasons why a gamer might want to use crypto currency. This can be understood by learning more about how cryptocurrencies work and what are the benefits associated with using them as well as investing in them. This information can be learned from trusted sources like www.gruender.de.

There are various reasons that seem to make gamers obsessed with cryptocurrency investment and trading. Those are:

1. Making the payment is easy

Source:crypto.com

Unlike other online exchanges that require the presence of a middle man like the bank or a third party payment portal, the making of payment using a crypto is much easier. This is mainly due to the fact that exchanging cryptocurrencies like bitcoin does not need any other third party for the transaction to be complete as it is completely in the hand of the sender and the receiver. This is based on the blockchain technology which is one of the main features of crypto transactions.

2. The currency can easily be withdrawn

Unlike normal banking in which a person has to withdraw their currency by getting a cheque issued or accessing the ATM, the process of withdrawal is much more simpler in terms of crypto. People using cryptocurrencies can easily withdraw the coins onto their wallets which are also secured by passwords so one’s money can stay safe even after withdrawal and they would not have to be dependent on a bank to make secure withdrawals.

3. Transparent and secure transactions

Source:infinum.com

The transactions made in cryptocurrencies are made between the sending and the receiving party only and as the currency directly flows from a point A to point B, the transaction becomes secure as there is little to no fear of interference in such a transaction. While transferring money, that is regular fiat currency, via the bank, the bank can put some interference in transferring of the money. Besides this, as the usual mode of transaction includes so many different phases due to the various points of verification, it is more likely to get attacked by scammers. This makes exchanges done using cryptocurrency much more safer in comparison.

4. Less charges for transaction

When one transfers their currency from one account to another, they need to pay a certain amount of fee as a transaction fee to the middleman like the bank. These transaction charges can be pretty high when one looks at the charges charged by the bank. In comparison the transaction charges are very less in different cryptocurrency. This means that one can transfer the same amount of cryptocurrency by paying lesser transaction charges compared to what they would have paid if they used Fiat currency transaction via Bank.

Moreover, in general exchanges, the government too asks for a certain amount of fee during transactions. Using cryptocurrency instead of Fiat money can help in eliminating the need to pay such a charge.

5. Offers provided

As even the game developers value cryptocurrencies highly, they look for ways to ensure that more people transact with them using this mode of payment. So, as an incentive, these companies and developers try to provide some kind of offers to those who make payments using cryptocurrencies. This can include offers like discounts, cash backs as well as other services. They can also provide extra attractive deals to those who make their payment in bulk using cryptocurrency.

6. More transparent gaming experience

Besides making the exchanges transparent, cryptocurrency also allows for a more transparent gaming experience. This is because as there is no need for a bank to become a middleman while making a payment, the game does not need to focus more on verifying each person’s details and bank account. This also makes the whole process of gaming and signing up for it a lot faster and easier.

7. Earliest users

The love of gamers for cryptocurrency can be said to be infinite as Gamers are a few of those people who started using cryptocurrency a long time back. They have a history of using cryptocurrency to make transactions, and this is simply what they are continuing as cryptocurrency is becoming more mainstream. Using it as currency is not a new thing for older gamers and newer gamers are just following their older counterparts by continuing the usage of cryptocurrency.

Conclusion

Source:forbes.com

In conclusion, it can be said that gamers have been using cryptocurrencies for a lot of their transactions for a long time and it is not a mew or strange phenomenon to see them use it and be obsessed with it in the present too. There are many reasons why cryptocurrency is still considered a great means of transferring money in the gaming world.

These reasons include the ease of making such a transaction due to the lack of middlemen like the banks and the government. Other reasons include an easy withdrawal of the currency, more secure and transparent transaction and lesser transaction fee. Even the games themselves encourage the gamers to make transactions using cryptocurrency by providing special offers and deals to those who use crypto as a mode of exchange in a transaction with them. These offers range from discounts to cashbacks to bulk discounts.