Crypto Gambling Sites by Country in 2022

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Where can I pay with cryptocurrency?

How one enters the trade oneself depends on one's own knowledge of the market. Those who have been familiar with the price trends for some time and have an eye on global political events and their impact on the value of cryptocurrencies probably have the confidence to buy and sell digital currencies themselves. Practical apps for cell phones facilitate the management of one's own holdings and allow access at any time.

Those who have the financial resources to buy, but would rather hand over the responsibility, may be well-positioned with a crypto broker or a Bitcoin robot.

In addition to its function as a form of investment, however, Bitcoin is also becoming more and more fashionable as an actual means of payment. How big is the acceptance already and in which countries can it be used.

What is the global distribution like?

In general, Western Europe is quite well populated with acceptance points in stores, the service sector, and restaurants, even beyond online commerce. Malta, Liechtenstein and the Netherlands in particular are home to a large number of crypto-friendly payment points. Arnhem is even considered a "Bitcoin City" with a total of over 100 involved merchants in just one city. In Switzerland have already gone so far as to sell Bitcoin at the ticket machines of their federal railroad.

In Eastern Europe, on the other hand, penetration is declining significantly, and many countries are still completely excluded from development. This is also true for most of Africa, with only a few countries being an exception where Bitcoin has already arrived. These include Kenya, Zimbabwe, Nigeria and South Africa, for example.

While New Zealand, Australia and North America show very good coverage, Central and South America also still show many white spots on the map, since the general digitalization in most countries is not yet comparable with Western standards.

Asia is considered the pioneer par excellence when it comes to cryptocurrency. Therefore, it is no wonder to find an above-average distribution in many countries there, first and foremost in Japan, of course. However, South Korea, Taiwan, Thailand and Malaysia are also at the forefront. In the Mediterranean region, Israel is clearly ahead.

However, there are also countries that have already officially banned Bitcoin as a money substitute, including Algeria and Afghanistan. On the global Bitcoin map, it is also noticeable that the acceptance points are primarily concentrated in the capital cities and large economic centers of the countries. Rural areas, on the other hand, are still completely excluded from this development, which is not surprising.

What developments can be expected?

In the U.S., Japan and Germany, bitcoin has long since been recognized as an official means of payment by the ministries of finance. This is not the case everywhere; it is often only tolerated to date. Or online trade is simply not comprehensively controlled in this respect.

Contactless payment apps will play an increasing role in further simplifying our global money flows in the future, making them more secure and at the same time circumventing the exchange rate problem. And the number of global acceptance points seems to be steadily increasing as well. However, as much as the entire market is evolving, experts do not believe that digital alternatives will ever overtake cash.

For one thing, there is a lack of overarching digitization in many sectors. On the other hand, the daily exchange of goods, especially in developing and emerging countries, is still based entirely on the exchange of cash. Any other scenario is not even conceivable here in the foreseeable future. Most travelers will still have no choice but to exchange money for local currency in order to be able to buy souvenirs and local specialties at any time.

Why do cryptocurrencies exist?

The goal of the first cryptocurrency Bitcoin was simply to create a payment system that works without financial institutions in order to allow consumers a certain degree of informational self-determination and anonymity. As a result, Bitcoin has been used in recent years as a means of payment for illegal transactions, among other things. While this circumstance diminished the social acceptance of cryptocurrencies, the underlying technology has nevertheless since been expanded and improved. Cryptocurrencies can now be used for much more than monetary transactions, providing a secure, fast and cost-effective alternative for the transfer of sensitive data.

In one pilot project, for example, the United Nations World Food Program is using Ethereum to distribute resources to refugees. The organization issues food coupons via the blockchain and affected people can pay in refugee camps via iris scan. This way, the financial resources reach those in need directly and corruption is no longer a problem for the organization.

Facebook also wants to introduce its own digital currency, Libra, to enable global payments via Facebook, WhatsApp and Instagram. The link to a basket of currencies is intended to protect Libra from fluctuations in value. Central banks have so far been skeptical about the social media giant's plans.

What cryptocurrencies are there?

In 2009, the first and probably still best-known cryptocurrency was created: Bitcoin (BTC). In terms of market capitalization, the crypto-first cryptocurrency still accounts for the largest share of the virtual currency market. It is followed by Ethereum (ETH) and Binance Coin (BNB) as the second and third largest cryptocurrencies.

However, there are now a total of around 5,000 different cryptocurrencies worldwide and it feels like the number of virtual currencies is growing every day.