Updated: Oct 30, 2021
Even though more than half the world’s population is now online, geoblocking is still on the rise.
This widely accepted practice allows businesses or governments to restrict access to certain websites, based purely on your location.
While this is generally for the sake of copyright and basic economics, the web itself was not designed to be split apart this way. It was designed to be a borderless global village, where every citizen has equal access to information, services and platforms.
Decentralization of the web is a powerful solution to help restore our digital rights.
That’s why we’re linking up with 1xBit to support their global user base, providing a private and unrestricted gaming experience.
1xBit is an online gaming platform that accepts cryptocurrency payments. The platform offers over three thousand games, and even hosts live matches and eSports.
Established in 2016, 1хBit is now one of the biggest gaming platforms powered by crypto. It was one of the first pioneers in this virtual market, attracting a community who wanted the anonymous, convenient and accessible experience that crypto brings.
Gaming innovation and the growth of crypto
While many industries have suffered the impact of COVID-19, unsurprisingly the online gaming industry is still one of the fastest developing worldwide. Gaming has often been referred to as a leading use case that drives adoption and innovation of blockchain technology. Gambling is “probably the most mature segment in blockchain-based gaming”, shifting users away from pure speculation to actual transactions, and becoming “serious competition to traditional markets.”
During 2020, the gambling industry grew by 13% as people had more “time to participate in several free and paid leisure activities” during lockdown. It is projected that the market will grow with 12% CAGR to achieve 92.9 Bn USD in 2023.
But well before the pandemic – back in 2013 – Bitcoin betting still accounted for over 50% of all Bitcoin transactions. In fact, online gambling was one of the first industries to adopt blockchain technology. And to this day, approximately 50% of all Bitcoin transactions are still in online games. A report from 2017 showed that users were spending three BTC every minute, and making 337 bets per second.
Improved Internet accessibility and increasing smartphone use are growth influences on the online gambling market. As betting and gambling have become culturally more acceptable pastimes, smartphones have provided the industry with opportunities to expand its customer base. In most countries, mobile users occupy 80% of the total online gambling industry.
The 1xBit advantage
Many platforms are turning to cryptocurrency, as it provides users with a wealth of benefits over traditional systems. The gaming world in particular is embracing these digital currency alternatives, as it lowers the barriers to entry, inviting a global community to participate.
Thanks to cryptocurrency, 1xBit gaming users are able to:
Stay anonymous while depositing or withdrawing their funds
Avoid sharing personal information during a more streamlined signing up process
Not worry about the safety of their deposits, since all transactions are recorded and stored on-chain
Ensure this transaction data is also secured, as records are not stored in a centralised database, reducing the risk of hacks and personal data leaks
Transfer funds instantly, as they don’t need to wait for a bank or third-party to confirm the transaction
Pay zero fees on transfers, or other hidden fees that traditional banking and fiat transactions typically charge
Receive higher bonuses and rewards, including up to 7 BTC welcoming bonus
Mysterium and 1хBit join forces
With the Mysterium VPN, users can establish a private and secure connection to 1xBit, increasing their level of anonymity. It also makes the platform accessible in regions affected by geoblocks, so the online gaming world can be experienced from anywhere in the world.
Are you a 1xBit user? Get approximately 20Gb worth of free streaming as a new user of Mysterium VPN. Learn more by reading their post.
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