CryptoCurrency TRON is Trying To Take Over in The Online Gambling Industry

tron-logoThere’s a new currency champion emerging in the world of online gambling. It is called Tronix TRX which is a crypto-coin that is part of the decentralized gaming platform called TRON.

Cryptocurrencies have certainly come a long way since they first appeared on the scene and seemed to be synonymous with black-market activities. Bitcoin became famous as the first one and while it was -and likely still is- being used by some shady figures to help stay anonymous while paying for things like illegal drugs and weapons, there was nothing wrong with the currencies themselves.

In fact the security they provide makes it a perfect choice in the online gambling world which typically has money -large sums of it- changing hands all over the world. Nowadays there are many varieties of digital currencies being used in online casinos, but TRON is clearly making waves. In fact, one study shows that in the first three months of 2019 more than $1 billion in TRON currency has already been wagered in decentralized casinos around the world.

And it’s the security and the ease of use that makes a currency like TRON so attractive in the first place. When you buy TRON it is being made from an accredited financial services provider and that is the only time anyone has to reveal any personal, debit or credit information once you’re ready to bet.

As such, TRON takes away all of the risk of needing to reveal personal information or banking information in any other online settings. As a result, there are now 10 TRON-style decentralised casinos that bettors can choose from.

tron-online-gamblingThe casinos rely on establishing digital contracts with their customers and joining games and all other functions happen through the use of those contracts. All money used is guaranteed and withdraws by the winners and payments to the casinos are done easily and with integrity. Everybody wins.

What we’re seeing now is that leading gaming associations are taking an active role in working with cryptocurrencies like TRON. At the forefront is the Malta Gaming Association. Malta is a small country in the European Union -and the Mediterranean, but they are a big player in the online gambling world. In fact, they were the first to regulate the industry, way back in 2002 and they have some of the friendliest tax laws in the world for gaming companies. As a result, many online casinos are headquartered in Malta and are willing to get one of the four classes of licenses that the country offers and are then free to take their offering to a global level.

Last year the MGA launched its Sandbox project which has been beta-testing cryptocurrencies in their casinos, pushing the limits of how applicable the technology is in the mainstream.

At this point, if you’ve had doubts about the use of cryptocurrencies, it’s clear that industry leaders are backing their use and that is only going to grow as the digital age matures.

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