From humble and often controversial beginnings, cryptocurrencies have evolved to make a significant mark in the consumer mainstream. This is borne out by the total market capitalisation of the crypto market, which peaked at $237.1 billion in 2019.
While bitcoin has historically dominated this market, there are now a number of trusted and viable cryptocurrencies available to consumers. As explained by bestcasinosites.net, many of these entities are safe and incredibly secure, and capable of underpinning comprehensive payment platforms.
In this post, we’ll explore the crypto market in further detail, while asking how digital tokens became a common payment method for online gambling.
What is Cryptocurrency and How Does it Work?
Bitcoin remains the poster boy for Bitcoin, which first emerged in 2009 and has overcome a rocky and controversial past as the former currency of choice for criminals on the so-called Silk Road.
However, as Bitcoin has evolved to serve a range of markets and underpin several different types of wallet, it has also blazed a trail for other tokens to follow in recent times.
Essentially, all crypto tokens represent a form of digital currency, which is powered by blockchain technology and capable of providing a virtual source of wealth. This ensures that they’re decentralised and not manipulated by central banks, creating a list of immutable transactions that are safe, secure and completely transparent.
In the case of Bitcoin and similar tokens, individual coins are ‘mined’, which requires people to check and review individual transactions to guarantee the validity of the ledger.
In exchange, miners are rewarded with a predetermined number of coins, with approximately 17 million of the 21 million available Bitcoin tokens having now been claimed overall.
In addition to being the first cryptocurrency, Bitcoin is also the single most famous token in the market, and the first to have been adopted within the iGaming space. However, other currencies have stolen a march in this market in recent years, with the fast-growing Ethereum offering a relevant case in point.
Ethereum platforms have also become synonymous with the ground-breaking concept of ‘zero house edge’ casinos, which have the potential to introduce completely transparent gaming that does away with the historical advantage held by casinos.
How has Cryptocurrency Evolved to Dominate the iGaming Space?
Clearly, there’s a clear and inherent link between cryptocurrencies and online gambling, with several platforms capable of reinventing the iGaming experience in the digital age.
Even on a fundamental level, it should come as no surprise that cryptocurrencies have evolved to take the iGaming market by storm as a cutting-edge payment option. After all, various tokens offer an array of advantages to gamblers, including both casual and serious players.
To begin with, each crypto transaction is both immutable and anonymous, with the latter meaning that it isn’t linked to any bank account or credit card. Instead, your tokens are stored in an anonymous and standalone wallet, which only needs to be linked to an anonymous email address.
This benefit isn’t even available through popular e-wallets such as PayPal, which can be directly linked to a users bank account or Visa debit card.
The same principle can be applied to e-wallets such as Skrill and Neteller, which may also draw funds to a credit card or bank account. This undermines the anonymity of these payment methods, enabling cryptocurrency to stand apart from the majority of its rivals in this respect.
Of course, some of you may not be too exercised about the concept of anonymity, particularly as most iGaming transactions aren’t overt when they’re listed on bank accounts or credit card statements.
However, these payments will be apparent to certain people or financial experts, and this can cause issues when applying for unsecured credit or a mortgage. So, the anonymity offered by crypto tokens can help you to avoid such issues and indulge your passion for online gambling freely.
Cryptocurrencies also process quick (and often cheap) transactions, which is ideal when looking to credit an iGaming account or withdraw winnings. The cost implication is also important, especially as some online casinos charge a nominal fee when you withdraw funds through traditional channels.
Of course, the lack of a central authority means that most cryptocurrency transactions will be processed completely free of charge, helping you to retain as much of your bankroll and subsequent winnings as possible.
Ultimately, Bitcoin and cryptocurrency casinos are cheap, convenient and secure, while they also boast the kind of transparency that gamblers crave in the digital age.
After all, there remains a significant trust issue between players and some iGaming operators, so increased transparency can play a huge role in correcting this problem.
New Year. New You. New Bitcoin Wallet.
Choosing the best wallet for your coin was never actually simple. From the full-client dinosaurs of old, in which you had to download the entire blockchain in order for them to work- to the many highly questionable yet ubiquitous wallets tied to the most popular trading platforms.
Knowing which bitcoin wallet is the right bitcoin wallet is largely dependent on what you plan on using it for and the type of bitcoin investment you plan on making. These things can seem fairly abstract ideas for someone who is just starting to familiarize themselves with the wide world of bitcoin investments.
Luckily for newbs – there are a number of online platforms, like Bitvavo, that are specifically designed to help guide hopeful traders through the process of how the bitcoin wallet universe works. Making it super simple to make fully informed choices when it comes to choosing things like what sort of wallet will fit you best!
Types of Bitcoin Wallets
Perhaps you’ve already settled on a platform and are now starting to do some independent research into bitcoin wallets. Maybe you’re a seasoned trader and are just looking for some quick insight into what’s hot in 2021. Whatever your motivations, knowing the main types of wallets that exist is absolutely necessary if you’re going to make the best choice for your investment.
Hot wallets are Bitcoin wallets that are constantly connected to the internet. These can be software wallets, online wallets, platform wallets, mobile wallets… If your wallet is always connected online, it’s a hot one.
Hot wallets are great for bitcoin that you plan on moving around or trading with, offering quick liquidity, and very responsive trading and valuation of your stash. However, hot wallets are notorious for getting hacked, and it’s never a good idea to have these types of wallets as your sole keeper of the coin.
Cold wallets are those that are not always connected to the internet. These can be hardware wallets, software wallets, and paper wallets. While these types of wallets are not often connected to the internet, some may be connected online sometimes.
These types of wallets are ideal for storing a backup of any online wallet you have or keeping the lion’s share of your stash under lock and key. As these types of wallets aren’t always connected, it can sometimes take a while to get the wallet connected in such a way that you can actually start sending your coins. Another downfall of cold wallets is “physical” wallets- meaning the wallet is stored on a flash drive or a piece of paper. This means that if the information or vessel for your wallet is lost- it’s gone for good.
Best Bitcoin Wallets Available
Depending on the hot/cold, trade/store, buy/sell crypto goals you have, some wallets provide to be a far superior choice. Here are the top three bitcoins wallets in 2021, narrowed down by category.
These wallets are physical and cold: meaning they’re offline until you say so, and you better find a super safe place for storing them. That being said, these bitcoin wallets are designed to provide you with the absolute highest security available in cryptocurrency. These are the type of wallets that are owned by whales and other intensely serious investors.
- TrezorWhile it may look like a garage door opener inside the matrix, Trezor offers top of the line security and sleek design. The wallet itself is super user-friendly and links up with your PC or mobile-only when you tell it to- using either google chrome or a phone app. The wallet allows you to check balances and access personal keys anytime you need them, by using a display function.
- Ledger Nano SThis hardware wallet can be used for any number of cryptocurrencies, not just bitcoin, making it a stand-out in the crowd. It uses a USB to connect to your computer, and a closed execution environment to provide the highest security available in the market. This particular wallet also has a function where it can be recovered if lost.
- CoolWalletSA hardware wallet specifically made for the ease of use similar to what you can expect from a normal hot wallet. The wallet connects to your mobile device via Bluetooth through an app. While to connectivity is primed and ready to go whenever, or where ever you are, the wallet itself is only connected as you need it to be, keeping your information safe. This hardware wallet also goes a step further and integrates with well known digital exchange platforms.
- ExodusThis online wallet will not only grant you access directly on your PC or mobile, but it also deals in literally hundreds of different digital currencies, making it a top priority for most traders looking for a hot wallet. Private keys are stored directly on the user’s device, so any software malfunctions or system failures won’t result in a loss of your coin.
- Coinomi Supports a high number of different altcoins, offers collaboration with a few different exchanges, and the mobile phone application is one of the most user-friendly and diverse in the world.
- EdgeThis super simple bitcoin wallet is ideal if you’re a beginner and trying to fly solo. It features an automatic backup and really simple access. Edge bitcoin wallet is also comparable with most of the top known altcoins as well.
Do you want to get cryptocurrency but have no mining equipment and experience? 8bit Limited company welcomes partners and contributors to join the project and get crypto coins in this simple way too. About a year ago it has launched a free Dogecoin faucet in Telegram. Do you want to know how to get Dogecoin for free?
Look: this article will shed light on this project from 8bit Limited company and tell you how to earn coins in this way.
Being a product of an international company called Pixel Softworks Engineering Ltd, 8bit.Ltd is a company that united professionals with 15-year experience who began to research newly evolved blockchain technology in 2010 and managed to gather an impressive number of investors and crypto enthusiasts around its multi-purpose cryptocurrency platform.
Nowadays, the project attracts investors offering a wide range of payment methods including 43 crypto coins. The platform is available only in English but there is enough information about the company and its offers in the FAQ section. Moreover, every person can easily contact the customer support representative pressing the button ‘Chat with us’.
The company also has its own multilingual Telegram-bot that will inform about the latest news and release of new projects as well as advise how to diversify funds, what projects to invest and how to get a constant passive income without huge investments. At the moment, the investment plan offers users to make a deposit from $30 to $1,000 and get every day profit of 0.05%. However, there is one more interesting way to earn cryptocurrency via 8bit.Ltd and it is a faucet in Telegram.
How to earn via Doge faucet in Telegram
If you want to use a free Dogs faucet and earn cryptocurrency on Telegram, it is necessary to add this 8bit Telegram bot to your account. After that, you will be able to claim your bonus every day manually pressing the button.
There are two types of users who can take advantage of earning in this faucet:
- Advanced users
These are users who have made at least one active deposit and get higher awards on a daily basis.
- Basic users
These are users who use a faucet free of charge and make no investment.
The earnings depend on the level and number of days in a row when a user claimed bonuses. For example, a beginner who has just added a bot to the Telegram account can get 5 Dogecoin every day if this is a Basic user and 20 Dogecoins if this is an Advanced user. When a user reaches the final 36th level, there is a possibility to get 100 and 500 Doge respectively.
If you have no time or desire to press the ‘Claim’ button manually every day, you can switch on the autopilot function and get your profits without putting extra effort.
Special offers and promos
8bit offers new users who have just joined the project a great welcome bonus in Doge. Basic users will get 10 Doge and Advanced users will be awarded 30 Doge if they take advantage of the faucet.
Other ways to get great awards are through participation in daily and monthly raffles. The company offers users to win from 10 to 250 Dogecoins every day as well as take part in the monthly raffle with the prize range between 50 and 2,500 Doge. In fact, there are several winners in these raffles since 3 winners get the smallest award (10/50 Doge daily and 50/500 Doge monthly depending on the user type), 2 people get a second prize (25/100 Doge daily and 100/1,000 Doge monthly), and only 1 winner gets a maximum prize (50/250 Doge daily and 250/2,500 Doge monthly).
Active users who claim Doge on a regular basis can get under Dogefall and get a crypto gift from other users who have many coins. One more way to get rewards is to report about any bugs you have noticed in the project since the development team encourages users to participate in the improvement of the project.
There is also a Progressive bonus for users who do not skip days and request funds regularly. This amount can grow up to 500 Doge.
Deposit and withdrawal
The project supports 43 cryptocurrencies and all of them can be used for making a deposit if you want to increase your profits and become an Advanced user. Fiat currency can be deposited and withdrawn via Perfect Money and Payeer – they support USD and EUR.
If you want to deposit funds, you need to register on the website of this project and select the payment option preferred.
Withdrawals work round the clock and are delivered almost instantly. Usually, it takes a maximum of 24 hours to complete the transaction. The minimum withdrawal amount is $/€ 1 or its equivalent in cryptocurrency. The minimum withdrawal amount for bonus funds is 50 Doge.
8bit.Ltd has a great referral program that allows getting coins for every friend you bring to the faucet. When you register an account on the website, you get a referral link that can be shared with relatives, friends, and acquaintances. The amount of your reward according to this program depends on the number of friends attracted and can range from 25 to 5,000 Doge.
When one of the friends you have invited becomes an Advanced user, the award gets much higher ranging from 40 to 15,000 Doge.
Upcoming King of the Hill contest
Recently 8bit started a marathon of special promos in Telegram called New Year’s Extravaganza.
Another event in this marathon is King of the Hill contest for leaders of referral structures.
Those users whose referrals have claimed most DOGEs will take part in our King of the Hill contest.
Here’s the official press release from 8bit website:
- Each DOGE claimed by your referrals counts as 1 point for this contest. The more DOGE they claim during the contest, the more points you get and the higher becomes your position in global ranking and the larger prize you win.
- Top 150 users with a maximal number of DOGEs claimed by their referrals will place in winners’ ranking.
- 150 top performant winners will receive prizes according to their position in Top-150 ranking. The total prize fund is $3500 and will be distributed in DOGE according to its exchange rate at the end of the contest.
Want to get into Top-150 ranking? You can do it:
- Just bring more new referrals to our 8bit Telegram bot
- Motivate your referrals to keep claiming FREE DOGE from our faucet every day!
The King of the Hill contest will take place from 1 till 15 January. On January 15th, 12:00 (server time) the scoring will be over and the contest results will be published at the promo page.
How to become a King of the Hill?
Suppose you have 10 referrals who claim FREE DOGE in our 8bit Telegram faucet. And they claim about 125 DOGE per day which gives you 125 points. As they keep claiming DOGEs, within 15 days you keep rising to the top of the ranking. After accumulating as many points as you can, you can place in Top-150 ranking and win a prize.
However, you can speed up your ascension in a few ways:
- first of all, motivate your referrals not to skip any days and claim DOGEs every day
- motivate them to make deposits, thus they will become Advanced users and
- a. will be able to receive significantly more Free DOGEs
- b. they themselves can participate in the King of the Hill and bring more their referrals
Participate in the contest now! Add 8bit bot to your Telegram
Telegram faucet offers a Doge reward not only for pressing the ‘Claim’ button but also for playing mini-games directly in 8Bit Telegram bot. Currently, there are 4 mini-games available for players:
- Lucky 33
- Dice Roll 99
- Ro Sham Bo
- Instant Lotto
- Treasure Hunt (recently introduced)
These are simple games with instructions if necessary where you can bet and win Doge prizes.
8bit investment project was introduced in 2016 and it has attracted a variety of users since that time. Before the launch of Doge faucet on Telegram, it was impossible to earn cryptocurrency through this platform free of charge. However, this faucet made it possible to get Dogecoin free simply pressing a button on a daily basis. It is a great opportunity to increase your crypto holdings in an easy and fast manner without making any investment. Moreover, if you enjoy the process and want to increase your profits, you can deposit anything starting from $30 and get bigger awards each new day.
One of the most frequent questions we get here at Monfex is whether to hold or to trade cryptocurrencies. It’s not enough to just advise people to get on to the Bitcoin train without telling them how to conduct themselves. It’s pretty much like telling people to get aboard a ship without giving them a clear idea of the destination. People want to know if it is wise to just cut their losses and trade Bitcoin after a price drop, or hold on to the asset hoping for a strong movement north in the near future. We make it extremely easy to both buy and trade here at Monfex.com, so this question is squarely in our purview.
Do you look for a platform to buy cryptocurrency? Each of the online crypto exchanges has its benefits and drawbacks. Moreover, the number of platforms that offer to buy digital coins is growing incessantly and recently, a new player has joined this market. Switchere.com is one more website where people can buy cryptocurrency with a credit card. You will agree that it may be risky to use an exchange that has been established quite recently. Therefore, it would be reasonable to check all the features of this exchange before making any conclusions.
Do you need to buy Bitcoin in Canada? There are not many exchanges accepting people from Canada, but with the establishment of the MyBTC.ca platform, it has become very easy to get the most popular cryptocurrency in Canada. You will agree that it is necessary to find a reliable and trusted crypto exchange to accept the Canadian dollar and it can be a challenging task.
Have you ever experienced that utmost fun of casino games and betting? It is unforgettable to feel how blood runs through the veins when you get closer to your next impressive winning. Keen players got used to betting fiat money but modern gambling can be much more exciting if you play for cryptocurrency. One of the platforms which have made this way of entertainment available to everyone is 1xBit. It is a popular gambling platform where holders of different crypto coins can try their luck playing a variety of games and betting on sports events. You will agree that every person desires to get a big prize having fun online.
Have you ever paid with cryptocurrency for any goods or services? If yes, did you know that the recipient of your payment can easily trace the history of your transactions knowing only your wallet address? All the transactions in cryptocurrency are recorded in the blockchain open-source software, but there is a possibility to leave no trace using SmartMixer platform.
There are many countries around the globe that are starting to more seriously enforce cryptocurrency tax reporting requirements. If you have not been keeping a detailed record of all of your cryptocurrency transactions, reporting can become a time consuming and challenging task. CryptoTrader.Tax is a platform that is built to make your crypto tax reporting a fast and simple process.
It is not easy to find a reliable bot which can increase your earnings from crypto trading. However, there is one platform which can improve this experience and its name is Cap Club.
You may wonder what sense there is to use this platform to trade crypto. Its are installed not only to simplify the process of trading but also make profits grow. This review will tell you the basic information about Cap Club platform and how to use it to your advantage.