Blockchain and Cryptocurrency Adoption in Africa Gambling Industry Africa

has experienced unprecedented growth in the use of blockchain technology and cryptocurrencies in recent decades because to the Covid-19 epidemic.

Nigeria, for example, is trying to regulate the industry owing to the rising number of Nigerian youngsters trading cryptocurrencies (Bitcoin). The rise was noticeable in much of Africa because to the lockdown and dependence on tourism, but not in Nigeria due to its declining currency against the dollar due to the uncertainty surrounding global crude oil prices triggered by the coronavirus epidemic.

However, many iGaming firms are still hesitant to utilize Blockchain. Blockchain,

its offerings, and how it operates in the gaming business are yet unknown. Nonetheless, the incorruptible nature of Blockchain is altering how transactions are handled.

Other continents have most iGaming firms that enable users to deposit and withdraw in bitcoin. As stated before, this is not the situation in Africa, where the currency’s use is expanding despite the continent’s dominance of the top six nations globally. These new highs are based on data obtained by Localbitcoin Paxful @ UsefulTulips. However, important sportsbooks and casinos in Africa must educate and embrace crypto-enabled clients.

It is apparent that most Africans do not grasp Blockchain technology and virtual money (cryptocurrency).

We can close the gap with the correct approach and education. Operators in Africa are not the only ones to blame for many companies, such as gambling operators, not accepting bitcoin for users to make a bet. Regulating Blockchain technology in economics and cryptocurrency use is an urgent need for the government and stakeholders.

For many African nations, bitcoin use might assist them push their cashless policy objective. Because Bitcoin reached an all-time high price towards the end of this year; it is imperative that many operators in the African gaming industry use crypto wallets and encourage new and existing customers to deposit/receive using crypto. In the next year, Africa will see more cryptocurrency use. It is imperative that African operators accept this revolutionary virtual money on their websites.

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