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    Cryptocurrency and mobile games: The key to next-gen gaming?

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    Cambodia launches new digital currency for mobile as mobile gaming and cryptocurrency dominate the industry.

    Cryptocurrency is no longer a foreign concept but instead is something that has been incorporated in many industries.

    In the iGaming industry, it is clear that more gamblers are making the switch and using cryptocurrency to fund their online gaming.

    The main reason for this being the increased safety through the use of cryptography that validates and secures all transactions. Times are changing and across the globe, countries are adopting and implementing digital currency.

    New digital currency via mobile for Cambodia

    In October, Cambodia launched its own digital currency issuance plan which has already received support from the central bank. The new currency draws on blockchain technology that has been designed by the known Japanese financial start-up, Soramitsu Co.

    The system known as Bakong has been named after the famous Bakong Temple, one of the ancient temples found in Cambodia. It will support all transactions between the U.S. dollar and the Cambodian Riel.

    It is the hope of the National Bank’s director-general of central banking, Chea Serey, that the launch of the Bakong System will assist in the promotion of social welfare while simultaneously preventing the spread of the disease through regular payment methods.

    This new payment method will be available via mobile from an app that can be installed directly on your device. As not many Cambodian citizens have access to a bank account, this mobile payment method will unlock many doors and opportunities. It will also expand the possibilities for small businesses and provide online casino players with a different way to access online casinos.

    Bitcoin vs other cryptocurrencies

    Bitcoin is the main player in cryptocurrency but there are various cryptocurrencies to choose from such as the new Bakong System.

    Essentially Bitcoin was the first decentralised cryptocurrency and leads the market due to its proven usage as a store of value. On top of that, it is easily accessible, offers more exchanges and access to a larger variety of merchants, software and hardware. For investment purposes, Bitcoin is a strong leader especially if you know how to mine, purchase and trade.

    For those who want to play online casino games, cryptocurrency like Bakong System is just as ideal. It offers higher levels of security as well as quicker deposits and withdrawals to and from your casino account.

    How crypto payments work online

    To fund your casino account using a cryptocurrency is a quick process that’s usually done within a few minutes.

    The first requirement is for you to set up a digital wallet and you will find plenty of online wallet sites that can assist with this process. With options such as the Bakong System, you won’t need additional wallets as they offer you an all-in-one experience. With Bakong, simply download the mobile app straight to your phone and get access to mobile payments.

    When playing at an online casino such as Frank Casino, Casino Days or SlotV Casino you will have the option to fund your gameplay with cryptocurrency.

    To start the process, head to the Cashier where you will get to select your payment option of choice.

    Once you’ve selected the payment option you will be given a wallet address for the casino. You can head back to your digital wallet where you can add the address and authorise the transfer of gaming funds. The process takes a couple of minutes and once approved, the funds will be immediately available for you to enjoy the best games.

    Mobile gaming on the rise

    Cryptocurrency is making a shift to mobile as they take note that more players are starting to prefer this form of entertainment.

    Software providers have worked around the clock to adapt old favourites and create new and innovative game titles, especially for mobile casinos. This allows players to enjoy high-quality and immersive games on the go from anywhere at any time.

    Software providers have worked around the clock to adapt old favourites and create new and innovative game titles, especially for mobile casinos. This allows players to enjoy high-quality and immersive games on the go from anywhere at any time.

    The world is changing and cryptocurrency (along with mobile gaming) is quickly leading the iGaming industry into the next generation of virtual experiences.

    Published: November 10, 2020

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    Article by Stelly

    CasinoWow Contributor

    Hey there! I am Stelly, and happily, I'm part of CasinoWow's content team. It excites me to be able to write and share with all gambling enthusiasts unbiased reviews and news that contribute to the gambling community and industry. Thankfully, I also have the chance to help you make an informed choice for casino brands and games, as well as provide interesting guides and news.

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