We all know about digital cryptocurrencies such as Bitcoin now. These are fast becoming a way that many people around the globe are paying for goods or items. This has extended into all areas of society and even into gaming. However, it has not all been clear sailing and this has led many to wonder if these cryptocurrencies will be commonly used in the future on digital marketplaces, like the PlayStation Store.
Steam led the way… for a while
Steam is a huge online game distribution platform for PC players. It allows them to download games and then play them online via their PC. It was one big company that used to allow cryptocurrency payments but, as of December 2017, does not. The reason behind its decision lay in the volatility and high fees Bitcoin brought to their business. They confirmed at the time that this may be something that is reversed in the future if Bitcoin and digital currencies become more stable. As cryptocurrencies become more mainstream and hopefully less volatile, then this could well be the case.
Will other digital marketplaces enable Bitcoin payments?
Of course, for all PS3 players, the major question is whether the PlayStation Store may look at letting you use Bitcoin or digital currency to pay for downloads in the future. While this is not possible yet, news from late 2018 suggests it may happen at some point. Reports confirmed that Sony have started to look at developing their own cryptocurrency wallet for use with its range of products. It is assumed this would be available to PS3 players on the PlayStation Store and Network when ready, thus enabling them to spend the cryptocurrency contained in the new Sony crypto wallet.
What else can Bitcoin be used for?
It is not just video gaming on the PS3 that digital currencies like Bitcoin could be useful for. Already the online gambling sector has incorporated it as a way to fund your account and play the games there. There are even dedicated Bitcoin casinos where you can play the newest casino games with Bitcoin now! Alongside online gambling, cryptocurrency and the blockchain technology underpinning it is something that business is starting to look into adopting. This is especially true in the financial sector where the security, transparency and transaction speed of cryptocurrency makes it valuable.
Bitcoin could be a way we all pay in the future
Of course, when thinking about digital marketplaces and digital currency, you may start to see it at the big names like Amazon soon as well. If these huge online marketplaces and other similar auction sites make Bitcoin an acceptable way to pay then it could really help it become more commonplace. This will depend a lot on customer demand, so it could be something we see in the future.
Cryptocurrency could be seen in video gaming
As shown above, Sony may well be on the way to accepting Bitcoin payments via its networks with the development of a custom cryptocurrency wallet. If this does come into effect, then it could have a big impact on all PS3 gamers and how they pay for downloads on the PlayStation Store.