Nowadays, it is easy to make payments through a mobile application, leaving the usual cash payments almost to oblivion. Nowadays, it is increasingly common to hear the word "cryptocurrency", because this is a form of payment of an economy that is moving quickly to the digital world.
Cryptocurrencies are, therefore, a purely digital means of exchange. There are even those who claim that these are the currencies of the future. Whether they are of the future or not, the fact is that they are already very present in the world. In recent days, cryptocurrencies have reached 2.03 billion dollars, a maximum since the peak in May, when they reached a record value of 2.48 billion dollars, reveals the specialist website Coinmarketcap.com.
After the sharp falls of the past few months, cryptocurrencies have been rebounding since the beginning of August, showing clear growth. The leading cryptocurrency, Bitcoin, has appreciated in the past week by almost 8%, while Ethereum has appreciated by 8.6% in the past seven days, Coinbase data shows.
This year, the European Central Bank announced a plan to create a structure to monitor the cryptocurrency market, with the main objective of protecting the financial and economic system. In the United Kingdom, cryptocurrencies are still not regulated. Only the future will tell whether or not cryptocurrencies are here to stay, but the reality is that several platforms already use them as a means of payment, for example on casino and online gaming sites, as it is a faster and safer method compared to real money.
It should be noted that in March 2010 the first poker tournament, "The 1,000 BTC Poker Game", was officially held using only one of the cryptocurrencies, Bitcoin, so no real money was involved. The story goes that the event was created as an experimental way of introducing Bitcoin as a transaction currency. The introduction of this cryptocurrency as a payment method in online poker has had a positive effect, as it allows for immediate and secure transactions.
To play online poker in this mode you just need to make a deposit of cryptocurrencies and choose the site where you want to play. Know that for example the best thing about playing poker on your phone is the fact that you can manage your cryptocurrency wallet while playing. Welcome to the world of "CoinPoker".
It was then, "The 1,000 BTC Poker Game" that boosted the popularity of Bitcoin, which today is in notorious and promising growth. Unlike what happens in traditional online poker, where you need to wait up to 72 hours to withdraw the money, in the case of cryptocurrencies it is possible to perform the transaction in a few seconds. It is also these digital currencies that allow you to play against professionals and amateurs from all continents of the planet, taking poker to an exponential level of globalization.
The greater the consumer demand, the greater the supply from companies and institutions, but like all elements of digital transformation, as cryptocurrencies spread, the associated risks grow. Security, volatility, costs and regulation are the biggest challenges.
The success of cryptocurrencies inevitably makes them more attractive to cybercriminals, and the rapid changes in their value make them an opportunity for some or a headache for others. As for costs, although cryptocurrencies exist only in the virtual space, their creation and use has a real impact through the enormous consumption of energy. And we come to regulation, a challenge that will be in the news for years to come.