Unless you’ve been living under a rock for the last year or so, then you must be well aware by now that the Cryptocurrency craze, and especially Bitcoin, has taken over the online trading world. If you take a closer look at the cryptocurrency market capitalizations website Coinmarketcap.com, and you can clearly see that over 20 such cryptos have a market cap in the billions. Of course, nothing comes close to Bitcoin that is valued at well over $160 billion and Ethereum that has a market cap of over $68 billion.
With so much money at stake, it didn’t take long for Forex brokers to introduce such cryptocurrencies CFDs, contract for difference, to their arsenal of assets since client sentiment was very strong. But due to the high volatility of these cryptocurrencies, Thomson Reuters has announced that is launching a new service that will monitor and analyze talk about bitcoin on many online news sites and social media channels so it can provide investors who want to know more about bitcoin with additional data to help them make the right decisions. Some online brokers have even taken it a step further and they now allow their clients to fund their accounts using Bitcoin as an option.
As we all know, the marketing concepts applied to the forex industry are very similar to the ones that have been employed by the gambling industry for a lot longer. But this time around, it seems that casino sites are taking a page out of the forex industry book by giving their members the opportunity to deposit using their bitcoin account. While this feature is still in its infancy, a few operators have started to accept bitcoin, but you can keep up to date with which ones do by reading some online casino reviews for all the latest updates.
The most noteworthy and recent example that illustrates the power of digital currencies comes courtesy of Calvin Ayre. The Canadian born millionaire, once behind the gambling brand Bodog, has announced that he will build a resort in Antigua worth a cool $100 million funded entirely from cryptocurrency profits. Moreover, once the resort is complete, it will accept Bitcoin cash, both through its online booking website and at point of sale terminals on the property. Bitcoin Cash was forked from Bitcoin and it now has a market capitalization of over $15 billion.