Bitcoin cash (BCH) just got accepted by a gambling site. This may not sound like a big deal, but it could be the catalyst that bitcoin cash needed for it to become the de-facto payment method for the entire gambling industry. Why is that? Well, you can attribute it to the fact that this market is highly competitive and every company will seek to adopt new technologies that guarantee it an edge in the market. This is likely to have a massive effect on Bitcoin cash in the following ways.
- It could trigger massive adoption of BCH in the gambling industry
Bitcoin cash (BCH) is way more superior to bitcoin when it comes to transaction costs and speeds. However, the gaming industry has been slow to adopt it, because of the fear that users will confuse it with bitcoin, which is known for its slow speeds and high transaction speeds.
The good news is that, now that it has been adopted by one player in the industry, others will have the confidence to follow suite. Expect this coin to quickly take over this industry, and for good reason. Firstly, bitcoin cash transaction costs are extremely cheap, an aspect that gaming companies can use as a tool for attracting and retaining customers. BCH speeds are also extremely fast as compared to many other cryptos in the market. Considering that transaction speeds are a key selling point for online gambling companies, it is clear that this adoption is about to open the way for even bigger deals between bitcoin cash and the gambling industry.
- It will validate bitcoin cash in the eyes of investors
A quick review of many online forums about bitcoin cash reveals one common trend. There is a strong community of crypto investors out there, who don’t believe that bitcoin cash is a sustainable crypto. The narrative is that bitcoin cash (BCH) is manipulated and controlled by whales, and is only good for speculative purposes.
However, with this adoption; and many others that have been taking place in the recent past, investors will start taking BCH seriously. Already this is happening, with the price surging by over 38% in the last 24 hours. Even a simple technical analysis on this coin, reveals that it is a coin about to explode in value. On the day chart, the coin is showing a strong uptrend, while sitting on strong support at the $1150 level. If the current upward momentum continues, then you can be sure that this coin could easily rise to over $2500 in the near future.
Is it time to buy?
With this use case of Bitcoin Cash (BCH) and its growing price, it is clear that the future of this crypto is bright. It makes sense to buy it now in anticipation of price growth in the near future. Already its adoption is in top gear, if its integration into the systems of Bitcoin casino is anything to go by.