According to the Winning Poker Network CEO Phil Nagy, customers who make use of cryptocurrency are worth double the value as compared to those customers who prefer using traditional methods of payment.
Nagy’s announcement was made at the Amsterdam Affiliate Conference, where Nagy and his team explained in detail the types of mistakes that they had made when they first adopted cryptocurrency in 2014.
Cryptocurrency’s popularity and value has increased substantially since then, however, and Nagy stated cryptocurrency usage in WPN had increased from 2% to 60% in the last four years. Nagy insists that more gambling-related businesses must consider adopting this new kind of payment, or be left behind.
Nagy told reporters that cryptocurrency, at its core, is cheaper, faster, and better than traditional forms of payment. He said that crypto transactions cost a fraction as compared to others, and that it also breeds more confidence in the players that see a business using cryptocurrency.
Gustavo Granados Medina, the head of development of the cashier platforms at WPN, said that one of the biggest problems that they faced was trying to work with crypto using traditional banking methods. He explained that a traditional system is just not prepared to handle cryptocurrency, and while WPN uses cryptocurrency predominantly, it would be easy for it to adapt to other types of online wagering.
Consultant for WPN, Joe Williams, lastly added that crypto at the moment is similar to the internet in 1993, and needs time to develop.
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