Cryptocurrency developers have been trying to get their offerings to become mainstream for some years but, up to now, nothing has achieved widespread use in everyday life. Bitcoin is the best known, and the value of a coin reached the $20,000 mark at its peak. But according to newswatchtv.com, it’s not considered to be real money. It has struggled in recent times, as well, and other options such as Ethereum and Litecoin are at risk of disappearing altogether. Facebook is now planning on releasing its own currency, Libra. Using the highly popular social media platform as a springboard, the new offering has the potential to succeed. If it does, the online casino industry is bound to get on board and help boost it further.
Libra has the Potential to go Mainstream
Facebook has been responsible for starting a lot of trends over the years. It was one of the first sites to put chat pop-ups to good use, and more recently has helped live streaming become an essential platform. After realizing the potential of cryptocurrencies in an increasingly borderless online world, Facebook executives are now planning to release their own blockchain, Libra, in 2020.
The fact that the social media platform is used by over one third of the world’s population means that those who weren’t aware of internet currencies soon will be when Libra drops. It will be a token that can be bought with fiat currency, and then owners of it can use it for transactions within the network. If Libra takes off in the same way that live streaming did in 2017, it has the potential to be the first major cryptocurrency in terms of usage.
Online Casinos like Cryptocurrency Payments
As soon as Libra is released, the online casino industry will be looking at ways to incorporate it. Online casinos generally like to offer a wide range of payments in order to attract as many players as possible. For example, Jackpotcity.com gives its players the option to pay by credit or debit card, prepaid card, e-wallet, bank transfer, or prepaid voucher. The reason for this wide array of payment services is to give players something they feel comfortable with. Some are superior when it comes to security, while others are better used for international payments.
Online casinos were quick to jump on the cryptocurrency bandwagon when it got going around 2015 and 2016, and a high number of crypto casinos came about. Use of internet currencies is favorable when players are logging on from all over the world, and it helps to keep transaction fees low. The industry has been crying out for a stable currency that people are comfortable with, and that could soon be Libra.
Libra is right around the corner, and Forbes.com suggests that it could make or break bitcoin and other cryptos. Facebook is the perfect platform to help the e-currency become mainstream. When this happens, you can be sure that online casinos will add it to their payment options.
