Frank Deya, Director of Betcoin, dives into the transformative potential of Bitcoin and other cryptocurrencies within the African gaming industry. In this insightful discussion, he explores how Bitcoin enhances user experience by enabling faster, cost-effective transactions and overcoming traditional financial barriers.
Frank Deya also addresses the challenges and misconceptions surrounding crypto, underscoring the importance of education and regulation to drive adoption. With a focus on financial inclusion, he shares his vision for how cryptocurrency can empower the unbanked and revolutionize gaming in Africa.
iGaming AFRIKA: Could you explain what Bitcoin is and provide some insight into its role within the iGaming space?
Frank Deya: Absolutely. Bitcoin has been around for more than a decade now, and in that time, it has found a significant place within the iGaming industry. It operates as a decentralised cryptocurrency that allows for secure, peer-to-peer transactions without the need for traditional financial intermediaries. In the iGaming space, Bitcoin has transformed the way operators and players interact. We are a sportsbook with an extensive online casino platform, and we’ve made it a priority to integrate cryptocurrencies like Bitcoin. The focus for us is to provide players with a seamless, efficient, and accessible gaming experience through cryptocurrencies.
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Absolutely. Bitcoin is a digital currency that enables peer to peer transactions without the need of centralized authorities like banks and other intermediaries. In the iGaming space, Bitcoin has transformed the way operators and players interact. We are a sportsbook with an extensive online casino platform, and we’ve made it a priority to integrate cryptocurrencies like Bitcoin. The focus for us is to provide players with a seamless, efficient, and accessible gaming experience through cryptocurrencies.
iGaming AFRIKA: How does cryptocurrency integration enhance the user experience, especially in an industry like iGaming, which is still relatively new to it, particularly in Africa? How do you see it benefiting users?
Frank Deya: The integration of cryptocurrencies, especially Bitcoin, brings several advantages that directly improve user experience. First and foremost, transactions become significantly faster. Traditional banking methods often involve delays, especially when dealing with international transfers, but with cryptocurrencies, payouts are nearly instantaneous. Additionally, the transaction fees associated with Bitcoin are much lower compared to those imposed by traditional financial institutions, making it a cost-effective solution for both operators and players.
What makes cryptocurrency particularly compelling is its global accessibility. Bitcoin transcends borders, meaning that players can access gaming platforms from anywhere without worrying about the limitations of local financial systems. This universality makes it easier for users to engage with our platform, and it enhances the overall fluidity of cross-border transactions.
Before we move on, I must acknowledge the hesitation and stigma that still surrounds cryptocurrency, particularly in markets like Africa where the concept may be relatively new.
iGaming AFRIKA: Right, there is indeed a lot of scepticism around cryptocurrency, especially in sectors like iGaming. How would you address these concerns and encourage more widespread acceptance?
Frank Deya: I completely understand where the scepticism comes from. From the outset, Bitcoin and other cryptocurrencies were seen as highly complex and technical, and there’s been a lot of misinformation circulating about them. Many people associate crypto with high-risk investments or even criminal activity due to its early unregulated phase. However, that perception has gradually been shifting as more institutions, including governments and regulators, begin to understand its value and regulate its use.
What I believe is key to overcoming this stigma is education. We need to focus on teaching people the fundamentals of Bitcoin, blockchain technology, and how these innovations work. This is essential for both operators and players, and education is the driving force behind mainstream adoption. Moreover, reducing the risk of scams and ensuring that people are using trusted platforms will further help demystify cryptocurrency and build trust.
As Bitcoin becomes more widely accepted and integrated into regulated frameworks, we can expect more people to view it not as something mysterious or dangerous, but as a legitimate and valuable financial tool, particularly for industries like iGaming. It’s a technology that’s here to stay, and by promoting transparency and understanding, we can help it reach its full potential.
In time, I think more people will realise that cryptocurrencies offer unparalleled convenience for cross-border transactions, and by creating a secure and trusted ecosystem, we can level the playing field for operators and users alike.
Read the full interview in our digital magazine below: