What Industries Are Changing Due to the Introduction of Cryptocurrencies?

Cryptocurrencies are now an accepted part of our daily lives, meaning that we sometimes overlook the major changes they’ve introduced to the way we carry out our business and hobbies. By looking closely at the following industries, we can see how they’ve all undergone big changes in the last decade or so.

The Way We Think About Banking and Investing Has Changed

The most obvious changes have been in the banking industry, as first Bitcoin, then a series of altcoins caused us to have a different way of looking at our financial transactions. Being able to send money directly and almost instantly to anyone anywhere on the planet has given us a massive amount of flexibility and freedom that never existed before.

14% of all adult Americans own BTC, with this number increasing to 26% when we look solely at millennials. This has led to an increasing number of people using digital cash for their everyday activities, such as making purchases and sending remittances to family members. Interestingly, many banks have been looking at creating their own cryptocurrencies to make their processes slicker.

How we think about investing has also changed  thanks to the use of cryptocurrencies. Many people who would perhaps never have considered making a traditional type of investment have bought BTC, ETH, or another token with the idea of seeing its value grow over time. It’s a highly volatile type of investment that is now easily accessible to people in many parts of the world.

Online Casinos Offer Crypto Payments

Gambling is one of the industries that have unexpectedly changed thanks to the crypto revolution. Classic casino games like roulette and blackjack are still played in the way that they’ve always been played, but the option of using digital tokens to deposit and withdraw cash has added a whole new dimension while making it a lot easier.

The speed and low cost of cryptos certainly offer a couple of clear reasons why so many people now choose them when they plan to move their money into gambling sites. However, the extremely high levels of security and privacy they offer are possibly even more vital. This has allowed players to gamble with more confidence, without having to worry about linking bank cards or accounts to the internet.

A look at modern-day crypto blackjack games shows us that it’s possible to add funds using BTC, ETH, Tether, and several other popular tokens. With the payment methods, players can access various blackjack variants, such as Classic Blackjack, Multi-Deck Blackjack, Zappit Blackjack, and more, fulfilling their individual needs and preferences. Moreover, they can leverage a generous welcome bonus of $2,500 when depositing with crypto assets on the platform, enjoying higher bonuses, as compared to those intended for traditional payment methods.

Ultimately, crypto blackjack allows players to enjoy the classic card game while benefiting from the advantages of blockchain technology, such as increased privacy, faster payouts, as well as crypto-exclusive bonuses that apply to the card game.

What’s more, in the realm of crypto blackjack, players can often switch between different cryptocurrencies within the same platform, providing flexibility and potentially allowing them to take advantage of favorable exchange rates.

The Impact in the Sports World

Even sports have changed thanks to crypto and blockchain. In fact, it didn’t take long for people to work out that the peer-to-peer nature of these tokens is ideal for letting fans get close to their favorite stars and teams. Fan tokens based on NFTs provide a clever way to offer collectibles to the most enthusiastic fans who want to feel closer to the athletes they love watching.

Some teams and stadiums have started accepting BTC payment for ticket payment, which is a trend we expect to see continuing and growing.  The Tennessee Titans are named in this list of franchises that allow crypto payment, with the Sacramento Kings, Dallas Mavericks, San Jose Sharks and Oakland Athletics among the other names mentioned. 

The recent trend for crypto exchanges to sponsor sporting events and teams has helped raise the profile of this industry further. It can provide useful extra funds for the teams and might - in some cases - also lead to a deeper partnership that gives the team extra benefits such as insight into the latest technology.

Music and the Arts Start Using Crypto

As with sports, the music industry is ripe for crypto adoption. It’s filled with fans who are looking for new ways to pay for merchandise and concert tickets while feeling closer to the stars they listen to. Smart contracts have also been used as a way of streamlining royalty payments to artists.

As the Web3 revolution makes big changes to our lives, we can expect to see new business models that give music fans the chance to gain access to exclusive content by buying tokens. They might also find ways to gamify and even monetize their love of music by getting in early and investing in tokens before they rise in value.

These examples reveal how cryptocurrencies are currently changing many aspects of life and it seems safe to assume that will carry on being the case as adoption rates increase and other industry leaders learn the value of using crypto in a way that fits them.

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