The growth of cryptocurrencies like bitcoin has transformed internet gambling, one of the world’s and South Africa’s most fastly growing and dynamic companies. Bitcoin is rapidly becoming a popular payment method for online gambling contractors and their consumers.
South African Cryptocurrency Adoption is Exploding
According to recent reports, Africa has one of the highest crypto adoption rates on a global scale, with an incredible 1,200% increase in value only between July 2020 and 2021, when nations on the continent received at least $105.6 billion in electronic currency. Such widespread crypto implementation speaks on its own, ushering in a slew of new opportunities and serving as one of the primary reasons why an increasing number of online casinos and players prefer Litecoin, Bitcoin, Ethereum, and other altcoins for transferring and receiving payments.
Cryptocurrencies that are Used for Gambling
Bitcoin, the first digital asset, continues to be the undisputed leader when it comes of popularity among consumers of betting internet sites, owing to its widespread availability. Indeed, all crypto-friendly gambling sites that accept South African players accept BTC as a payment method, though the selection of altcoins varies greatly between sites. It is worth noting that Ethereum is currently the second-largest cryptocurrency, with an increasing number of followers of slots, roulette, and card games utilizing it to deposit money and funds out winnings.