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Are Crypto Casinos the new Hype?

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In the last years many new ideas have entered the market and some of them were pretty innovative if not to say revolutionary. These new inventions have also changed the market and pushed new hypes. Not only have new ideas like cryptocurrencies changed the world, of course also the worldwide pandemic did its part in it. Due to the restrictions many people have started to find ways to entertain themselves at home as they cannot go outside and go to bars or casinos like they used to do before the corona pandemic. 

One thing that has been already existing before the pandemic but has grown immensely within the last two years are online casinos. The appearance of the cryptocurrencies like Bitcoin and Ethereum has sparked a huge change in the gaming and gambling industry. Online casinos have started to offer cryptos as payment methods and many online casinos which are entirely focused on cryptocurrencies have popped up in the last few years. 

To find the best online crypto casinos there are many guides and reviews like Bitstarz Review on Casino.Guide that one can check to learn more about the best online crypto casinos. There has been a significant rise of online crypto casinos, but are they really the new hype of 2021?

What Are Crypto Casinos?

First things first! For those who are not familiar with the term ‘crypto casino’, we have to explain first what it means. Crypto casinos are basically online casino platforms that accept cryptocurrencies as payment methods. These casinos offer all kinds of different games and services for gamblers who are looking for a way to transact in cryptocurrency instead of fiat currency. Often these casinos als provide traditional casino games like roulette. Furthermore these casinos also offer other great gambling opportunities like sport bets and online lottery.

So one can actually say that crypto casinos are not much different from normal casinos. One big difference is that these online crypto casinos offer their own crypto wallet for their users in which they can store their Bitcoins and other crypto coins. So before one can place a bet, it is necessary to fill up your wallet with coins. Subsequently one can place bets from their own wallet, and just like at any other online casino, you will win or lose, depending on if you hit the right combo or not. 

In case of a win your gains will be sent to your wallet so you can keep on gambling. If you want to get a payout, you have the option to transfer your wins from your own wallet on the casino platform to your private bank or crypto account. It must be said though that many online crypto have strict limits on withdrawing the coins from the platform’s wallet to their own private account in order to keep you gambling. 

So now we have figured out what crypto casinos are and how they work. But why are they so popular and what advantages do they have compared to conventional casinos?

Why is there such a hype about Crypto Casinos?

There are lots of reasons why crypto casinos are so popular these days. One of the most important reasons is that crypot casinos are very private and secure. The crypto casinos feature a great deal of anonymity, security and private transactions which are impossible to track and extremely fast. Furthermore the cryptos enable gamblers to bypass third parties like big banks or other intermediaries which also improves the speed and safety of the whole process. 

Once one is familiar with cryptocurrencies like Litecoin, the transferring is as easy as any other online transaction that users may have been used to before. As there is no need to give any sensitive information such as private address, ID documents or banking information, which adds to the safety as well. 

This in particular is very important as gamblers have suffered from fraud and stolen identities at online casinos for a while. 

At crypto casinos gamblers are safer than ever before. All you need is basically a functional VPN, a burner email and a safe password and you can start to explore crypto casinos with 

maximum privacy and no fear of data theft.

More control and oversight 

Another reason that speaks for crypto casinos is that they offer a greater deal of control about the process. The crypto casinos mostly give more control to the player over their own funds. 

If you play at an online crypto casino that is specialized on one specific coin like Bitcoin for instance, all payments will be done with that coin which saves time and protects the player from the delays of conventional monetary systems. The blockchain technology which the cryptocurrencies are based on enables an extremely quick and transparent process without players having to pay extra fees for transactions or other hidden features.

Better Bonuses and no local restrictions

Furthermore the crypto casinos mosty offer great and exciting bonuses one can win while playing. Every provider has different offers but mostly the bonuses one can win are multi-deposits bonuses, matching deposit bonuses or free spins at the slot machine. Additionally the entire idea of cryptocurrencies is a decentralized system. 

That means that also crypto casinos do not have to follow local restrictions. This enables the casinos to give greater bonuses and develop further without borders and gives them a major advantage compared to conventional casinos which mostly suffer under governmental restrictions and gambling regulations, while still ensuring security and privacy.

Conclusion

All in all it can be said that online crypto casinos are definitely not as bad as many may think.

Of course there are many different providers with different policies. Some of the crypto casino platforms may not be the yellow of the egg and may not welcome players with great bonuses or even attach a bunch of annoying restrictions and limitations to the chances of winning or the amount one can withdraw.

Generally though crypto casinos offer major advantages to the players compared to conventional casinos and may be the perfect solution many online gamblers have waited for so long.

Disclaimer. This is a contributed post. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Cryptopolitan.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Source: https://www.cryptopolitan.com/are-crypto-casinos-the-new-hype/

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Crypto Companies Innovate to Serve Their Users Better

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The quest to leverage the crypto and DeFi boom means crypto companies must constantly be innovative to serve their users. If company “A” doesn’t do it, there is every certainty that company “B” will fill in that gap. TrustToken, Phemex, and Kryll are among the many crypto companies constantly innovating and launching new features on their platform. In this article, we shall look at some of the ways these companies are evolving in order to meet the demands of their users, and serve them better.

New $USDT lending pool by TrustToken

On June 18, 2021, TrueFi launched a new USDT lending pool for collateral-free loans. According to Head of Strategy Ryan Rodenbaugh, USDT remains one of the most demanded assets by crypto borrowers – and the new pool has grown rapidly in both size and utilization.

Growing these lending pools was helped by lucrative incentives: depositors enjoyed loan interest and generous TRU token rewards totaling more than 40-50% APY. In lending, utilization is key: with much of the capital sitting unallocated, are TrueFi users “overpaying” for stablecoins deposits?

TrueFi governance was quick to respond: a new proposal adjusting pool incentives based on utilization, pegging incentives for given lending pools (of TUSD, USDC and USDT today) to their rate of borrowing – dynamically – helping TrueFi reward the most productive assets.

The pools add a new way for crypto holders to earn returns while sitting in the safe haven of stablecoins during the market’s swings. In fact, TrueFi pools may offer some of the highest earning opportunities on stablecoins – and are free of impermanent loss.

Phemex launches Learn and Earn on its platform

Since its launch in 2019, Phemex crypto and futures trading exchange has been making giant strides in the crypto space. The platform offers spot trading, contract trading, and futures trading. It seeks to position itself as the most trusted in the industry.

In its bid to educate beginners on the crypto and blockchain industry, Phemex has recently launched its “learn & earn” program. The purpose of the new feature is strictly to incentivize new crypto users.

The new feature comes with interactive videos and other intuitive lessons designed for beginners. To motivate these learners, the crypto exchange has come with a way for learners to earn rewards while they learn. At the end of each lesson, users will be presented with a short quiz for them to provide the right answers. If a user answers all the questions correctly, the user will receive a reward from the platform. This becomes a good motivation for learners to pay attention and be serious throughout the learning process.

No more struggle to understand jargon-filled information

The “learn & earn” program is designed to be beginner-friendly and offers learners a fun and easy way to understand cryptocurrency basics. Users will first learn about Phemex’s essential features and how each feature works. The program also explained how cryptocurrency works and how beginners can trade cryptos on exchanges.

Kryll allows users to create their own crypto trading strategies

Krill is a crypto trading marketplace where users can create and own trading bots. There are currently more than 270 active trading strategies on the platform. Users can also publish their trading strategies for other users to use, and the publisher makes good profit in the process. In its bid to offer efficient services to users, Kryll developed tools that allow its users to create powerful trading bots for Binance, Kraken, and Bittrex. The interesting thing is that users don’t need to have prior coding skills to use this new feature on Kryll. Creating your trading bots on the platform is as easy as drawing on a whiteboard.

Users no longer have to constantly stay in front of their computers to trade. These bots are hosted in the cloud and operate 24/7. As a user of Kryll, you can now leverage the trading bots to save time and optimize your profits.

The platform also has a marketplace which gives users access to a community of experienced crypto traders who automate their trades on Binance, Kraken, Bittrex, and HitBit. Users can test, rent and offer automated trading strategies with each other.

Building better interaction with users

The innovative approach of crypto companies like TrustToken, Phemex, and Kryll is the tip of the iceberg, considering the high number of features introduced in the crypto space every day. It is an indicator that the cryptocurrency industry is still growing, and there are still more grounds to cover. TrustToken, Phemex, Kryll, and other crypto platforms are persistently leveraging the crypto boom to interact better with their users.

Image by Arek Socha from Pixabay

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Source: https://bitcoinist.com/crypto-companies-innovate-to-serve-their-users-better/?utm_source=rss&utm_medium=rss&utm_campaign=crypto-companies-innovate-to-serve-their-users-better

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Poolin halts payout for BTC, ETH hash rate tokens after China’s crackdown

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Poolin, one of the major Chinese crypto mining pools, has temporarily halted the bitcoin and ether mining payouts to users who have staked their hash rate tokens on Poolin’s Mars protocol.

Poolin said in a blog post on Friday that the operations of its proprietary bitcoin miners that serve as the underlying assets backing its recently issued pBTC35A and pETH18C hash rate tokens have been shut down as a result of the recent orders issued by the Chinese governments in Xinjiang and Sichuan.

Poolin rolled out the two ERC-20 tokens earlier this year that can be staked to earn wBTC and ether based on the computing hash rate that each unit of the token represents and that is mining on their respective networks. 

“After Sichuan policy’s shoe dropped, we realize this time’s unexpected shutting down would eventually make unbearable economic loss on whole project which would likely leads to operational hardness. In this case, team decides to pause the wBTC/ETH output for all pBTC35A and pETH18C for less than 60 days which corresponding to the estimated schedule of miners migration,” the firm said.

“In [the] previous 30days, the Mars team has visited a lot of mining farms and signed long term facility hosting contracts with some mining farms under top-tier names,” Poolin said in the blog post, adding it’s currently relocating the machines backing the Mars project to new facilities with an expectation that the process will take 35 to 40 days. 

The prices of pBTC35A and pETH18C both have fallen significantly from their initial sales prices and all-time-highs.

Poolin initially sold pBTC35A for $100 per each unit that has an underlying hash rate of 1 TH/s. It has now dropped to below $50 on Uniswap, down nearly 60% from its all-time-high of above $120.

The price for pETH18C has also plunged by over 60%, sliding below $10 just about three months after Poolin launched the token at $30.

Poolin’s suspension is the latest event that crypto mining operations are being severely impacted by China’s crackdown. 

Nearly 50% of the bitcoin network’s total hash rate has gone offline since Xinjiang and Sichuan handed down the shutdown order for mining farms. 

Following that, there has been a spiking circulating supply of secondhand bitcoin miners on the market as a result of the shutdown policy.

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Source: https://www.theblockcrypto.com/linked/109600/poolin-halt-btc-eth-hash-rate-token-china-crackdown?utm_source=rss&utm_medium=rss

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Crypto wallet Zumo adds support for Bitcoin SV (BSV) after BTC and ETH

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Zumo, a crypto wallet and payments app, has announced that it can now be used to store and receive the cryptocurrency Bitcoin SV (BSV).

BSV is the third cryptocurrency to be supported by the non-custodial Zumo wallet. Users can also hold or trade Ether and Bitcoin.

Bitcoin Satoshi Vision (BSV) emerged from a hard fork of Bitcoin Cash (BCH); which itself emerged after a hard fork of Bitcoin (BTC). It is an extension of the same original blockchain with some amendments that have targeted the dual benefits of cheaper transaction fees and increased transaction capacity.

The name comes from its supporters’ belief that BSV aligns with the original vision of Satoshi Nakamoto; who first published the white paper explaining Bitcoin.

£10,000 worth of Bitcoin SV giveaway to celebrate

To celebrate the arrival of BSV to the wallet, Zumo is launching a giveaway of £10,000 worth of Bitcoin SV. Any UK resident who opens a new wallet with Zumo passes ID verification and makes a £1 deposit between June 25th, 2021 and July 26th, 2021 will be eligible to win the prize of £10,000 in BSV.

“We’re excited about offering BSV to our users. We’re hoping to introduce British crypto investors to BSV; as well as attracting new users who have never engaged with smart money before. To anyone who’s considering getting involved in crypto I’d say: we’re here to help.”
– Paul Roach, Zumo’s Chief Product Officer

Source: zumo.money

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Source: https://www.cryptoninjas.net/2021/06/25/crypto-wallet-zumo-adds-support-for-bitcoin-sv-bsv-after-btc-and-eth/

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