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mBit Casino Review: Bitcoin Casino With No Deposit Bonus

mBit Casino Review

mBit Casino is an online casino that has been created with Bitcoin players in mind. A number of different cryptocurrencies are catered for and there is a wide selection of different games from leading developers. The mBit Casino has been around since 2014 and is under the operation of Direx NV Casinos. This parent company […]

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mBit Casino is an online casino that has been created with Bitcoin players in mind. A number of different cryptocurrencies are catered for and there is a wide selection of different games from leading developers.

The mBit Casino has been around since 2014 and is under the operation of Direx NV Casinos. This parent company operates a lot of other popular online casinos, meaning that it has a lot of experience in the space.

It is under the regulation and oversight of the Curacao government. The platform aims to protect the privacy of its players, allowing people to gamble online in an anonymous manner.

This offering is a bit different than what you would normally see with other Bitcoin casinos, being a bit more complex in nature. This mBit Casino review looks at all of the respective aspects of this offering, helping you to determine if it is a good fit for you and your online casino needs.

mBit Casino Homepage
mBit Casino Homepage

Visit mBit Casino

mBit Casino Offering

When you enter the mBit Casino, you will be faced with numerous different types of game options.

For slots players, there are more than 2,600 different titles to choose from, with all of the major slot styles catered for. This is a stunning range of games, meaning that you will never get bored by this offering. Video slots, classic slots and feature slots are all on offer.

You can also play games from some top developers such as Amatic, Red Tiger Gaming, Play’N GO and Betsoft. You can quickly sort through the titles by the developer if you wish to do so. Each of the slots can also be played for free initially if you want to test them out and not put real money on the line starting off.

Some of the slots games on offer
Some of the slots games on offer

For fans of progressive jackpot slots, there are more than 100 different options to choose from, some of which have very lucrative prize pools. At the time of writing, there were 116 different video poker titles to play.

For table games, you also are spoilt for choice with the mBit Casino offering. Dozens of different blackjack variants are available, ranging from high roller games to double hand options.

With roulette, there are more than 100 different options when including live dealer games, something which would be hard to find elsewhere. You have all different types of regional roulettes, as well as the likes of speed and auto roulette.

There are also the likes of Baccarat and niche casino games such as Sic Bo and a wide range of dice games to have a look at.

One of the newest aspects of the mBit Casino offering is that of the mBTC races. These are races that take place over three hours and are in operation every day.

You play casino games during the three-hour windows and the top positions in the leaderboard will get rewarded. Currently, there is 6 mBTC handed out every three hours.

mBit Live Casino Offering

There is a live dealer casino at the mBit Casino. This is powered by the leader in the live dealer space, Evolution Gaming.

This means that you can be confident that the live dealer experience is going to be top-notch as you are using such a high-quality operator. In total, there are 53 different live dealer game options for you to try out.

You have multiple options for the likes of blackjack and roulette, as well as having access to live dealer games for the likes of Dream Catcher, Baccarat and casino hold’em.

Live Dealer Games
Live Dealer Games

There are many different lobbies you can test out depending on what sort of betting limits you are looking to play with. All levels of players from beginners to experience live dealer players will be catered for.

The streams are in HD quality and the overall experience is very immersive. Most of these live dealer games are also available on the mobile version of the mBit Casino.

Welcome Bonuses

Most online casinos will utilize welcome offers to try and entice new people to signup for the platform. This is no different at the mBit Casino. There are a few different aspects to this welcome offer.

No deposit bonus

One of the favorite types of bonuses that an online casino player will look for is a no deposit bonus. This means that you will get a reward for just signing up for an account, with no deposit required.

At the mBit Casino, this no deposit bonus will see you get 50 free spins after signing up and verifying your phone number. If you do not want to add a phone number to your account, you cannot avail of this offer.

No Deposit Bonus
Free Spins for Verifying Your phone number

You have a week to use these free spins and any winnings will need to be wagered at least 50 times before you can cash them out. There are a few different slots titles that you can use these free spins for.

To meet the wagering requirements, there is a max bet of 0.0015 BTC and you can only wager these funds on slot games.

Deposit bonuses

Another popular way for many online casinos to reward new players is by giving them deposit bonuses. At the mBit Casino, you will get access to a deposit bonus for each of your first three deposits.

For your first deposit, it will be matched 110% up to a max bonus of 1 BTC and you will also get 250 free spins. For your second deposit, you will have it matched 50% up to a max bonus of 2.5 BTC. Finally, when it comes time to make our third deposit to your mBit Casino account, it will be matched 75%, up to a max bet of 1.5 BTC.

A variety of bonuses on offer
A variety of bonuses on offer

These bonus funds will be valid for thirty days, during which time you will need to meet the x35 wagering requirements. The free spins for the first deposit bonus offer will be credited at a rate of 50 free spins per day.

To get these free spins, you need to have deposited at least 0.05 BTC. The same rules for max bets to meet wagering requirements are in place and you can only meet the wagering requirements through slots games.

Overall, this is a solid welcome offer. The no deposit bonus will only be available to those users who want to add a phone number to their account. The size of the deposit bonuses is decent, with the wagering requirements being standard.

The main downside is that you can only meet the wagering requirements through playing slots.

Regular Promotions and Loyalty Program

For existing players at the mBit Casino, there are promotions that they can avail of tho thanks them for their loyalty to the platform. These will change every so often. There are regular promotions for special times of the year, such as Valentine’s Day or Christmas.

There are also daily and weekly leaderboards for those playing casino games, with a variety of prizes available for those who finish near the top of the rankings.

Certain days of the week will have their own types of promotions. For example, every Friday you can get up to two 100% bonuses. Another great offer that is running at the moment at the mBit Casino is that you get 20% cashback on your losses every day of the week, up to 0.1 BTC.

Overall, there is a nice variety of promotions for existing mBit Casino players.

There is a loyalty program in place at the mBit Casino. The perks will differ depending on what cryptocurrency you use in order to play your favorite games on the platform.

Make your first crypto deposit today and start playing with an extra 110%
Make your first crypto deposit today and start playing with an extra 110%

For Bitcoin users, the VIP rewards program is called Planet Bitcoin, You will need to earn 4,750 loyalty points in order to enter into this program.

You will get an x5 boost to your comp points when playing games, a 20% cash back bonus on losses, weekly reload bonuses and a milestone bonus to name a few of the perks.

All of the tiers will offer you access to a dedicated account manager, as well as exclusive bonuses and personalized rewards. For the high rollers, there is a special tier called ‘The Moon’ that is only accessible for those who get invited by the mBit Casino team.

Payment Methods

You have the option to deposit via crypto or fiat currency with the mBit Casino platform. If you are looking to use cryptocurrency, you can add funds using Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dogecoin or Tether. Naturally, the processing times for crypto deposits will be instant.

There are limits on how much you can deposit and withdraw with these methods. For example, you need to deposit at least 0.0003 BTC and there is no limit as to how much you can add. When cashing out using Bitcoin, you will need to withdraw at least 0.001 BTC and a max of 10 BTC in transactions in a monthly period, being 3 BTC for withdrawals in a given week.

crypto payment options
Some of the crypto payment options

The fiat currency methods on offer are Visa and MasterCard credit cards, ecoPayz, Venus Point, iDebit, bank transfer, AstroPay, Accentpay, Qiwi, CashtoCode, Neosurf, Paysafecard, Neteller or Skrill.

These methods generally will have lower limits in place that if you were using crypto as your main payment method. The max cashout for most of these fiat options is set at $4,000.

They often are slow also when it comes to your withdrawal processing, some taking a number of business days. There are a number of different supported fiat currencies for you to use.

Security

As mBit Casino is a Bitcoin casino, you know that your personal info is going to be kept safe and sound. This is because you are able to sign up for an account anonymously, not having to submit the usual types of personal information that you would if you were using fiat currencies.

This gives you peace of mind that none of your personal details or data is vulnerable in case there is an attack on the mBit Casino platform. Naturally, if you are using fiat currencies on mBit Casino, you will have to add all sorts of different personal info and submit the likes of a photo ID and proof of address in order to use the platform.

The platform itself is under the watchful eye of the authorities in Curacao. This ensures that all of the games you are playing are fair and are not rigged against the players.

The website utilizes the latest in encryption technology to keep safe and personal info you may have submitted to the mBit Casino. Generally, the platform takes matters of personal data security very seriously.

In terms of making transactions, the benefits of using crypto to add and withdraw funds are well-known. There are regular audits completed on the site’s games by trusted independent firms to ensure that all of the games are fair for all layers. However, there is no documentation of the fairness testing for each individual game given on the platform.

Customer Support

If you have a question or concern that relates to the mBit Casino platform, your first place to go usually will be to the FAQ section. This can be found on a section by section basis in the footer of the website.

If you do not find a solution to your answer there, then you will likely want to get in touch with a member of the mBit Casino customer support team. The quickest method will be using the live chat function.

This promises to answer all requests within five minutes. This is an ideal method if the issue you are having is simple and straightforward. It is also a service that is open on a 24/7 basis, which is ideal. For more detailed issues, you can send the support team an email. This allows you to resolve more complex issues, usually getting a response from the mBit Casino team within a day.

There is also a chat feature that updates in real-time where you can chat with other users of the mBit Casino site. You can often get useful answers to questions there from fellow online casino players.

Mobile Offering

If you are looking to play on the mBit Casino through a mobile device, you are able to access the site through your mobile device’s web browser. This will be preferable for those people who do not want to download an app onto their mobile device.

Most of the popular web browsers will be supported. You will have access to a lot of the games on the desktop version, including the live dealer offering.

At the moment, there is no dedicated app for you to download. This is a bit disappointing because playing casino games on a mobile device is usually a lot better when using a dedicated app rather than simply using a web browser to do so.

The lobbies on the mobile section are a bit clunky, with more up to date browsers performing a lot better than older versions. Most types of popular mobile devices are able to access this instant play website.

Usability

The mBit Casino desktop platform is a bit clunky when you compare it to a lot of other leading crypto online casinos in the space today. Everything is clearly laid out, which is ideal.

You can quickly toggle between the different games that are on offer, differentiating by game types or by the developer. There are sections where you can also see the newest games added to the site, as well as the games that are the most popular with players on the site.

The speed of the site is pretty good, with the gameplay itself for the games going to be better if you are using an up to date web browser. The navigation system is very easy to figure out and the same goes for the mobile offering.

mBit Race
mBit Race – Casino Tournament

For the live dealer casino, you can quickly see the different lobbies you can enter.

The streams are of an HD quality and have a lot of cool customization features that you can play around with. This is a very immersive experience that allows you to feel like you are there in the flesh playing your favorite casino games.

You can choose from a number of different languages aside from English. Do note that there are certain countries that are restricted from using the mBit Casino platform.

Conclusion

There are many different aspects to the mBit Casino. The selection of games is staggering, with more than 2,600 different slots titles from some of the best developers in the space being on offer.

There is also a great choice of other casino games, as well as a top-quality live dealer offering that will tick all of the boxes in that regard. There is a decent welcome offer, as well as strong promotions of existing players.

You have all of the major cryptocurrencies as options when adding or removing funds from your mBit Casino account. As it is a crypto casino, you can be sure that your data is kept safe because you can play almost anonymously.

One of the few downsides is that the usability of the desktop site can be a bit clunky and there are no dedicated apps for mobile players. However, the customer support team is always available to help you if an issue arises and you can quickly navigate around the site as needed.

Overall, the mBit Casino is a good choice for crypto casino players due to the vast choice of quality games that are on offer.

Visit mBit Casino

mBit Casino

Ease of Use

9.0/10

Reputation

9.0/10

Fees

9.0/10

Customer Support

9.0/10

Payment Methods

9.0/10

Pros

  • Massive selection of games
  • Quality live dealer offering
  • Crypto and fiat payment options
  • Varied welcome offers and bonuses

Cons

  • No dedicated mobile apps
  • Desktop site is sometimes clunky

3,852

Source: https://blockonomi.com/mbit-casino-review/

Blockchain

Massive Bearish Divergence Hints At First Major Chainlink Corrective Phase

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Chainlink was among the first cryptocurrency to set a new all-time high in 2020, but given its absence during the 2017 peak was facing different circumstances and no overhead resistance. The » Read more

” href=”https://www.newsbtc.com/dictionary/altcoin/” data-wpel-link=”internal”>altcoin was nearly unaffected entirely by the » Read more

” href=”https://www.newsbtc.com/dictionary/bear/” data-wpel-link=”internal”>bear market over the last couple of years, breaking record after record.

However, a massive bearish divergence has formed as the unstoppable cryptocurrency touches an ascending trendline for the third time. Could this be the start of the » Read more

” href=”https://www.newsbtc.com/dictionary/altcoin/” data-wpel-link=”internal”>altcoin’s first extended » Read more

” href=”https://www.newsbtc.com/dictionary/bear/” data-wpel-link=”internal”>bear phase? Or are bulls preparing a much stronger push to finally blast through the long-term trendline?

Chainlink At Risk Of First Major Corrective Phase, According To » Read more

” href=”https://www.newsbtc.com/dictionary/bear/” data-wpel-link=”internal”>Bear Div

In 2017, Bitcoin’s meteoric rise and the explosion of ICOs built on Ethereum put the cryptocurrency asset class on the map. But after a storm of exuberance and parabolic price action, the bubble burst and these assets came crashing down by as much as 90% or more in many cases.

Even the crypto asset with the most longevity, Bitcoin, fell a full 84% from high to low, resulting in a three year » Read more

” href=”https://www.newsbtc.com/dictionary/bear/” data-wpel-link=”internal”>bear market. During that time, however, Chainlink made its debut in the crypto space, and its been on an unstoppable uptrend ever since.

Related Reading | Analyst: After A 50% Retrace Against Bitcoin, Chainlink Is “Ready” To Soar

The » Read more

” href=”https://www.newsbtc.com/dictionary/altcoin/” data-wpel-link=”internal”>altcoin rose from nearly worthless to over $25 recently at its 2021 peak. Chainlink went from being born during a » Read more

” href=”https://www.newsbtc.com/dictionary/bear/” data-wpel-link=”internal”>bear market, to hitting all-time highs left and right even before a bull market was confirmed.

Since things turned bullish, even Chainlink joined in Bitcoin and Ethereum and set yet another record peak. The entire market has once again turned back down, but the soaring » Read more

” href=”https://www.newsbtc.com/dictionary/altcoin/” data-wpel-link=”internal”>altcoin remains near 2021 highs.

Bearish Divergence, Or Are Bulls Baiting For The Next Move Up?

The recent push to $25 per token, has resulted in a massive bearish divergence on the weekly Relative Strength Index, spanning across the current peak and the 2020 high of $20, according to one crypto trader.

Coinciding with the bearish technical signal, is a more three-year long trendline that has acted as the top to every major rally. The chart below shows the long-term trendline on the LINKUSDT trading pair on Binance more clearly.

chainlink linkusdt bear div

A massive bearish divergence spans across two years of LINKUSDT price action  | Source:  LINKUSDT on TradingView.com

Bearish divergences appear when price action sets a higher high, but a technical indicator on the same timeframe chart makes a lower low. It often suggests that although prices are reaching new highs, the underlying buying pressure is lower than during the first peak.

The weakness results in bears taking over, and forcing prices lower. Bearish divergences often appear at the top of a trend, but are difficult to act on.

Related Reading | Altcoin Expert: Buy Crypto That Holds Up During Bitcoin Breakdown

Bearish divergences are only confirmed once price action has turned down. The lack of a higher high on a technical indicator could merely be due to the fact the bullish move is only yet just beginning. Taking a position in a long up-trending » Read more

” href=”https://www.newsbtc.com/dictionary/altcoin/” data-wpel-link=”internal”>altcoin due to a bearish divergence could lead to any missing out on any additional legs up that might follow.

Given Chainlink’s long-term momentum, the bearish divergence – if invalidated – could supply the momentum needed for a much stronger push higher.

Featured image from Deposit Photos, Charts from TradingView.com

Source: https://www.newsbtc.com/analysis/link/massive-bearish-divergence-hints-at-first-major-chainlink-corrective-phase/

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Blockchain

3 reasons why Ethereum price is still on track to top $2,000

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After dropping 27% over three days, Ether (ETH) price finally reached a bottom at $1,040 on Jan. 22. 

The sharp correction liquidated $600 billion worth of future contracts but interestingly, Ether price rebounded to a new all-time high even as Bitcoin price continues to trade in a slight downtrend.

According to Cointelegraph, the increasing TVL and transaction volumes of the decentralized finance sector are behind Ether’s impressive surge.

ETH/USD 4-hour chart. Source: TradingView

To determine whether the recent pump reflects a potential local top, we’ll take a closer look at on-chain flows and derivatives data.

Exchange withdrawals point to whale accumulation

Increasing withdrawals from exchanges can be caused by multiple factors, including staking, yield farming, and buyers sending coins to cold storage. Usually, a steady flow of net deposits indicate a willingness to sell in the short-term. On the other hand, net withdrawals are generally related to periods of whale accumulation.

ETH held in exchange wallets. Source: Cryptoquant.com

As the above chart shows, on Jan. 23, centralized exchanges recently reached their lowest Ether reserve levels since November 2018.

Although there is some discussion whether part of this Ether exodus is an internal transfer between Bitfinex cold wallets, there has been a clear net withdrawal trend over the past month. Despite these ‘rumors’, the data points towards accumulation.

This data also coincides with the DeFi’s total value locked (TVL) reaching a $26 billion all-time high and signals investors chose to take advantage of the lucrative yield opportunities that exist outside of centralized exchanges.

Futures were overbought

By measuring the expense gap between futures and the regular spot market, a trader can gauge the level of bullishness in the market.

The 3-month futures should usually trade with a 6% to 20% annualized premium (basis) versus regular spot exchanges. Whenever this indicator fades or turns negative, this is an alarming red flag. This situation is known as backwardation and indicates that the market is turning bearish.

On the other hand, a sustainable basis above 20% signals excessive leverage from buyers, creating the potential for massive liquidations and eventual market crashes.

March 2021 ETH futures premium. Source: NYDIG Digital Assets Data

The above chart shows that the premium peaked at 6.5% on Jan. 19, equal to a 38% annualized rate. This level is considered extremely overbought, as traders need an even higher price increase ahead of expiration to profit from it.

Overbought derivatives levels should be considered a yellow flag, although maintaining them for short periods is normal. Traders might momentarily exceed their regular leverage during the rally and later purchase the underlying asset (Ether) to adjust the risk.

One way or another, the market adjusted itself during the Ether price crash, and the futures premium currently stands at a healthy 4.5% level, or 28% annualized.

Spot volume remains strong and traders bought the dip

In addition to monitoring futures contracts, profitable traders also track volume in the spot market. Typically, low volumes indicate a lack of confidence. Therefore significant price increases should be accompanied by robust trading activity.

ETH aggregate spot exchanges volumes. Source: Coinalyze.net

Over the past week, Ether has averaged $6.1 billion in daily volume, and while this figure is far from the $12.3 billion all-time high seen on Jan. 11, it is still 240% higher than December’s. Therefore, the activity supporting the recent $1,477 all-time high is a positive indicator.

Exchange-provided data highlights traders’ long-to-short net positioning. By analyzing every client’s position on the spot, perpetual and futures contracts, one can obtain a clearer view of whether professional traders are leaning bullish or bearish.

With this said, there are occasional discrepancies in the methodologies between different exchanges so viewers should monitor changes instead of absolute figures.

Exchanges top traders ETH long-to-short ratio. Source: Bybt.com

The top traders index at Binance and Huobi have held roughly the same Ether position over the past couple of days. Huobi’s average over the past 30 days has averaged a 0.83 long-to-short ratio while at Binance traders held a 0.94 average. The current reading at 0.85 indicates a slight negative sentiment.

OKEx stands out as the top traders long-to-short ratio peaked at 2.0, strongly favoring longs in the early hours of Jan. 22, but it decreased until Jan. 24 and finally bottomed at 1.05. The strong net selling trend was reverted today as traders bought the dip and the indicator flipped to 1.17 in favor of longs.

One should keep in mind that arbitrage desks and market makers encompass a vast portion of the exchanges’ top traders metric. The unusually high futures premium would incentivize those clients to create short positions in futures contracts while simultaneously buying Ether spot positions.

Considering Ether’s on-chain data indicating whales hoarding, along with the healthy futures contracts premium, the market structure seems reliable.

The fact that top traders at OKEx also bought today’s dip is further indication that the rally should see continuation.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Source: https://cointelegraph.com/news/3-reasons-why-ethereum-price-is-still-on-track-to-top-2-000

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Blockchain

Bank Of Singapore: Bitcoin Could Succeed As A Store Of Value

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The Singaporean private banking arm of OCBC Bank has dismissed the chances of cryptocurrencies eventually replacing fiat currencies as a medium of exchange. However, the large institution believes that BTC and other altcoins can replace gold in terms of serving as a store of value.

Cryptocurrencies: Store Of Value; Not Medium Of Exchange

Ever since the introduction of Bitcoin in the late 2000s, people have wondered if the cryptocurrency could indeed live up to the potential of operating as an electronic peer-to-peer cash system, as intended by the anonymous creator – Satoshi Nakamoto.

Doubters have breached the infamous volatility as a significant obstacle in BTC’s path. It seems that the Bank of Singapore agrees with this narrative, according to recent coverage.

Chief economist Mansoor Mohi-uddin used the movements from the past year, where BTC went from a low of $4,000 during the mid-March liquidity crisis to a new all-time high above $40,000 months later, to exemplify it and dismiss this narrative.

However, bitcoin and other altcoins can have a role as a digital store of value if they manage to address several potential issues. Apart from the aforementioned price fluctuations, those include high liquidity and safe custodians.

“First, investors need trustworthy institutions to be able to hold digital currencies securely. Second, liquidity needs to improve significantly to reduce volatility to manageable levels.” – explained the economist.

Additionally, the crypto ecosystem requires more regulations from world watchdogs to reduce their alleged involvement in criminal activities. However, Mohi-uddin warned that if governments felt threatened by the existence of particular digital assets, they could fight back, which is the case with the growing trend of central bank digital currencies.

Institutional Adoption Highlights BTC’s Store Of Value Qualities

The bank’s economist explained that the growing appetite from institutional investors had supported the belief that bitcoin should be used as a store of value instead of a medium of exchange. Furthermore, some of them even outlined the idea that BTC could replace gold or it’s better than the precious metal in a way.

SkyBridge Capital co-founder Anthony Scaramucci recently asserted that the largest cryptocurrency is easier to store, harder to steal, more portable, and ultimately, better than gold.

CIO at the Wall Street behemoth BlackRock, Rick Rieder, predicted that BTC could take some of the market share of the yellow metal and eventually even replace it.

Similarly, JPMorgan’s analysis concluded that the cryptocurrency has started to garner some of gold’s market share, which could harm the bullion’s price in the long-run.

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Source: https://cryptopotato.com/bank-of-singapore-bitcoin-could-succeed-as-a-store-of-value/

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