Around 6.8% of the population are crypto owners, with the number of young adult investors constantly increasing.
It’s interesting to see how much the world has changed in terms of payment methods and convenience. In the past, we were limited to certain payment options restricted to fiat currency.
As technology evolved, so did payment options with the addition of e-wallets, cash vouchersand, eventually, cryptocurrency.
The rapid growth of cryptocurrency
It’s interesting to see that the compound annual rate (CAGR)of crypto ownership growthhas been around 99%over the past five years. This is quite impressive, especially when comparing crypto with traditional payment methods, which have averaged growth of 8%from 2018 to 2023.
According to the stats, the growth rate of cryptocurrency ownership has exceededseveral payment giants, including American Express. Some of the bigger brands across the globe accept cryptocurrency, including Razer, AXS, Zodia Markets, Multiplier, and iStudio.
There are over 560 million cryptocurrency ownersacross the world. Some are located in advanced economies like UAE, Singapore, the United States, South Korea and Canada, while others are in emerging economies like Türkiye, Thailand, Brazil, Vietnam, Indonesia, and Ukraine.
The ownership demographics show that around 35% of cryptocurrency owners are aged between 25 and 34. A further 65% stated that they would like to make their payments using cryptocurrency.
If you take a deeper look into ownership, you will also find that 61% are men and 39% are women. An average of 6.8% of people globally own cryptocurrency.
Crypto and online casinos
One question many often have is how crypto payments are being implemented in online casinosand what type of players they attract.
Considering the stats above, a massive number of young adults invest in cryptocurrency. With the rise of crypto casinos, online gambling is opening the doors to these young adults.
The percentages of crypto investors aged between 25 and 34 also mean that casinos can finally focus on a whole other market and age group by merely implementing the payment options and the necessary tools and technologies.
How crypto is implemented
Online casinos are doing a lot to continue the increasing adoption of different payment options and solutions that will attract younger players. Some key strategies include the addition of cryptocurrency payment alternatives. The majority of online gaming platforms accept Bitcoin, Ethereum, and other cryptocurrencies. They offer many benefits, including lower transaction fees, faster processing times, and enhanced privacy, which is why they attract so many younger players.
Blockchain technology ensures transparency and increases securityin transactions. This allows for trust building between players and platforms, as all transactions are verifiable and can’t be tampered with.
Other great ways it’s implemented are in exclusive promotions for crypto players. These include promotions that offer a certain amount of crypto when you successfully meet the platform’s terms and conditions.
Read more about the benefits in our guide for crypto wallets and crypto casinos.
Cryptocurrency is accessible globally and doesn’t carry any restrictionsthat traditional banking systems have, making it even more alluring for younger players. There is also the integration with social platforms such as Discordand Telegram, which helps us engage with the crypto community. This allows you to enjoy direct and authentic interactions, enhancing player engagement and loyalty.
At the end of the day, crypto is implemented in online gaming platforms in many ways, including the integration of decentralised applications (dApps)and smart contractsto create an even more exciting and unique gaming experience.
It's interesting to watch how all this plays out, as cryptocurrency gaming and investing are sure to become even more popular!