For a continent where gambling has been a large part of its history and culture, Asia has a rather restrictive stance on it. Half of the world lives in Asia, but potential players will sooner find restrictions and small heavens of gambling opportunities rather than general acceptance. In China, online gambling is prohibited, but its distinct of Macao is open for business. Japan allows for pachinko machines, but nothing online.
South Korea is the same but allows for lotteries and sports betting. Malaysia is also restricting online gambling, but local players have other options. The list goes on and on, and knowing these subtle differences can be beneficial if you are from any of these countries and wish to play online. And that’s where crypto comes into play.
In this article, I will discuss how crypto is boosting iGaming loyalty programs to provide players with more options than ever before!
How Crypto Is Boosting iGaming Loyalty Programs
1. Crypto Anonymity
Anonymity and loyalty may seem like two odds, but whenever a website allows for crypto payments, it builds its user base, as now more players from Asia can access it and play. Chinese, Malaysian, Japanese, Korean, or any other can access top online casinos in Malaysia through crypto.
As explained by casino & crypto writer Michael Graw, some of the benefits they provide are user anonymity and simplified registration (through crypto wallets, rather than IDs or passports), various games, banking options, and bonuses.
By allowing crypto payments, online gaming platforms can compete with local regulations, as the innate anonymity of using crypto is an incredible potential for local players. Under the veil of anonymity, players can find their favorite crypto casino and stick with it until local regulations change.
2. Data Security
Whenever you’re playing online, you are storing personal data on various servers. While online platforms go to great lengths to protect their user’s data, accidents can happen. This is why crypto is changing how we view data safety and is continuing to improve any business’s brand through enhanced safety.
When online casinos implement crypto in their payment options, it enhances data security and privacy, with the decentralized blockchain mechanism behind it. Such advanced measures instill trust and confidence in its users, who aim to stick with online platforms that can provide safety to their sensitive personal and financial data.
3. Cross-Platform Integration
Gone are the days of supporting and playing in your local casino. Asia is a continent of many countries, each with its own currency and various exchange rates. What’s beneficial and affordable to players from one country may be untraceable to players from the neighboring. This is why crypto is the universal equalizer, transforming the business landscape for all online shops, casinos, and services.
The value of crypto is universal, meaning that whenever a player has, let’s say, one unit of cryptocurrency, its value is the same when playing in any online crypto gaming platform. Such universal value is highly appreciated, as crypto is decentralized and has no single governing authority above it, and its value is the same worldwide. When all players are appreciated for their commitment to a certain crypto, they will continue using the online platform valuing them and their crypto.
4. Lower Transaction Fees
Getting more for your money is a universal desire by all players and customers. Whenever we shop or spend any type of currency online, transaction fees are an inevitable must. And this is one more area where crypto shines, as it’s a decentralized system running beside any banking system
As crypto is not subject to banks, servers, and financial institutions, its processing fees are far less than regular transactions. This means that players using crypto can gain more for their money, compared to players using regular transaction means.
This crypto aspect further boosts customer loyalty with Asian players and drives users towards using crypto, as less value is lost in the transactions. Whenever a crypto transaction happens, it’s usually between three parties, while regular transactions can have all sorts of intermediaries, servers, access points, and institutions in the way, all wanting their share of the process.
5. Comunity Building
Crypto is still new, fresh, hip, and innovative. Tech-savvy people can obtain it but don’t necessarily have to be young. The great thing about crypto is that it brings together all tech enthusiasts, regardless of age or status. The bonding inside crypto communities projects onto services that accept them.
Each crypto casino that accepts a certain cryptocurrency invites its users under its umbrella, who can finally have a way to utilize their crypto assets. This sense of belonging is unique to crypto as a currency, for no other currency in the world has such dedicated communities built around it.
Final Thoughts
Crypto has carved its way into the spotlight and with the slew of improvement it offers is determined to stay there. Regular means and transactions are having a hard time competing with its speed, cost, benefits, and privacy, and as there are no ways around it, crypto will stay where it is. As the currency of the future, crypto will continue changing the iGaming landscape alongside many others where it’s implemented.
