SOL holders enjoy a variety of options for putting their tokens to work. Non-custodial staking is available in the Exodus wallet or with the native Solana-CLI command-line tool. Staking rewards are around 6%–6.5% APY at the time of writing.
Custodial staking is possible on Binance Earn, Kraken and FTX and, typically, offers fewer earnings. Binance Earn offered 6.5% APY this November 2021.
Then there’s lending on platforms such as Solend or Tulip Finance. Even staked SOL can be lent on Tulip, albeit for a meager 1.79% yearly yield, while Solend offers 3.87% for supplied SOL.
Lending becomes more exciting when providing stablecoins. Solend offers 24% on USD Coin (USDC), and Tulip grants 15% APY on USDC-USDT pairs via Raydium.
Solana initial coin distribution breakdown
The degree to which Solana is decentralized was the subject of heated controversy on Crypto Twitter this autumn. The pièce de résistance is the number of tokens held by the team and by VC backers. Solana has an initial token supply of 500 million SOL with a yearly inflation rate of 1.5%.
Binance Research found out that the team holds 12.79%, and VCs bought 29.15% of all tokens during the seed and funding sale, a total of 41.94%.
Figure: Solana initial token supply distribution
Source: Binance Research
The pie chart doesn’t include the $314.15-million token sale that Polychain Capital and a16z completed in June 2021, and the exact amount of tokens involved was not published. The exchange price for SOL was $30–$40 in the months ahead, though it’s probably fair to assume that a steep discount was applied, given the scale of the purchase. Presupposing a $20 token price, 15.7 million SOL or 3.14% of the initial supply would have changed hands.
Staking validators have to pay transaction fees on voting and syncing transactions but earn staking rewards as well as block rewards. Running a viable validator requires a stake that produces rewards in excess of transaction costs. In September 2021, the minimum stake required had surpassed $1 million — a significant barrier to entry for new validators.
Despite that, almost 1,200 validators are operational at the time of this writing. The top 19 validators control 33% of all SOL staked and could theoretically halt the network if they colluded.
Solana’s implementation is fundamentally different from Ethereum’s. On the latter, programs can hold state; on the former, they cannot. A program’s state is the data it uses.
For example, one piece of data could be an incremental counter that assigns a number to NFTs as they are minted. This incremental counter would be stored in a program’s state on Ethereum, which Solana cannot do.
Instead, Solana uses accountsto store and access data. Accounts can also store multiple addresses to send and receive tokens. Like Ethereum with its ERC-20 standard, Solana also supports tokens built atop it.
Unlike Ethereum, every token needs an address of its own, which is then part of an account. It is a bit similar to Bitcoin’s HD wallets in practice, but with a different implementation and functionality.
To make a long story short, we will look at active accounts instead of unique addresses. Though this number is difficult to pinpoint accurately, research from CoinDesk and Solana Beach arrives at a substantiated estimate of 1.2 million active accounts.
Solana protocol revenue and price-to-sales ratio
One of Solana’s most vital selling points is its low transaction fees. Currently, a transaction costs $0.00025. Transactions on Solana are a bargain compared to Ethereum, where a Uniswap trade frequently costs over $100. Conversely, these low fees lead to lower protocol revenues.
Source: Token Terminal (Y-axis has a log scale.)
The Graph reports earnings of just $3.2 million for Solana, while Ethereum miners gained $1.5 billion in the 30 days leading up to Nov. 16, 2021.
Looking at the price-to-sales ratio, Solana lands on a multiple of 30,909x earnings, while storage protocol Filecoin has a multiple of “only” 514x.
Solana is in a difficult position from a price-to-sales perspective. On the one hand, it needs low fees to remain attractive for traders and financial applications. On the other hand, SOL’s price is hard to justify at this point.
Driven by DeFi activity and NFT sales, Solana rose to prominence the fall of 2021. Constantly pushing the envelope, its team now wants to onboard “one billion users” in the following years.
Named after a famous beach near San Diego, California, Solana is the brainchild of former Dropbox engineer Anatoly Yakovenko. Development started in 2017, and in April 2018, he and his co-founder, Greg Fitzgerald, secured their first backing from Abstract Ventures and 500 Startups. Solana had its big break in 2020 when Sam Bankman-Fried backed the project. He successfully deployed FTX’s decentralized exchange protocol, Serum, on Solana. In 2021, Polychain Capital and a16z injected $314 million into the blockchain venture with a private token sale.
Solana’s beta mainnet saw the light of day in March 2020 and quickly attracted developer attention. According to recent research, it is on a path to overtake Ethereum when comparing developer activity in the form of GitHub commits, pull requests and forks.
This chapter will focus on metrics that reflect the real-world usage of Solana. Looking at the meteoric price growth is a good indicator of investor confidence. To gain a deeper understanding, we’ll look at unique addresses, lending and staking rates, and protocol revenue plus the price-to-sales ratio.
As a marker of centralization risk, we’ll finally look into how many tokens are held by the team and VC backers.
Solana Summer: SOL price rose more than sixfold in autumn 2021
Source: Messari
Solana’s (SOL) price was on an absolute tear starting in August 2021, called “Solana Summer.” The token’s value rose from $35.15 to a high of $258.65 between Aug. 1 and Nov. 6, 2021. A boom in NFT sales, perpetual futures volume and a tight-knit community propelled Solana’s market capitalization to more than $73 billion and made the token No. 4 on the CoinMarketCap list of coins sorted by market cap at times.
Seen from a November 2021 perspective, Solana is up more than 130x from a year ago and outperformed all other top 100 tokens except Axie Infinity (AXS), Kadena (KDA) and Fantom (FTM).
Insider Insight with Bernhard Koch, Founder and CEO Cryptix
As a venture builder in the fintech sector, we build bridges between innovation and effective everyday usability. Thus, it is a given that we closely follow the developments in the DeFi space and the increased use of DAOs. What we recognize, however, is that DAOs intentionally lack substance when it comes to financial regulation:
DAOs are unregulated and legally unaccountable – not the right approach we deem suitable to serve the masses. The widely used “dot-org-constructions” based on non-profit-foundations are mainly used to avoid taxes.
At Cryptix, we have chosen to go the extra mile with a long-term regulated approach. While the main character of a DAO meets our requirements for decentralization and community engagement, it lacks the legal safety and conformity for the masses. Consequently, we have tried to think out of the box, and have successfully created a superior solution: We call it DGO – decentrally governed organization.
Unlike a DAO, a DGO makes use of a legal body: The Societas Cooperativa Europaea (SCE). While an SCE is not a new concept, we’ve discovered that very few are aware of this cooperative form, despite its great number of benefits:
Legal clarity and compliance by using a real legal entity.
Responsibility and commitment as the SCE is legally liable.
DGOs can have a for-profit motive, thereby creating more sustainable and engaging incentive structures for its members, which are ultimately more supportive and loyal to a project.
An SCE can change residence within EU countries with low hurdles to operate from a jurisdiction where the environment favors innovative approaches of such DGO and its members.
Voting on governance and strategic decisions can be made accessible and incentivized in a user-friendly mobile app, with absolute transparency and no manipulation due to real on-chain voting. While members, due to its simplicity, won’t even notice they’ve just voted on-chain.
These benefits come with a more complex, time-intensive, pioneering and expensive path. Nevertheless, we are committed to going down this path and thereby creating a never-before-seen and promising concept, born from the connection between SCE and blockchain technology. In our opinion, this is the next logical step towards enabling a non-crypto community to experience the benefits of decentralized finance, and include them in a powerful, transparent and direct way of decision-making in important projects.
Cryptix is already employing the described DGO model and legal construction within one of its projects, a layer-1-blockchain with its own native cryptocurrency, products and complementary services in layer-2. These Layer 2 services will be run by a DGO and involve their users at the enterprise level in a very simple and highly transparent way as never before.
We are excited about this journey and are already receiving stunning feedback for this concept. We will keep a close eye on user participation and learnings to grow and adapt together for the benefit of the community, its members and our society.
Summary
Ethereum helped crypto to get to where it is today. Without NFTs, without DeFi, and without the ability to launch tokens in less than 30 minutes, many projects simply would not exist, and the world would be poorer for it.
Ethereum is here to stay. Massive network effects, a large pool of development talent, and a mature tech stack mean it is easier and more sensible to launch on Ethereum than any other blockchain.
The onus is now on Ethereum’s developers to manage a timely upgrade to a more scalable and renewable future without compromising security and uptime — a genuinely colossal feat. The last upgrades to the mainnet have gone off without a hitch and have inspired well-earned confidence in the skills and thoroughness of the contributors.
2022 will be a make-or-break year for Ethereum. Its open, self-reflective culture and the surprisingly far-sighted thought leadership of Vitalik Buterin inspire confidence that it will be its best year yet.
The No. 1 DApp on Ethereum is the NFT marketplace OpenSea. OpenSea outpaced its competition in 2020 and is now the go-to place to trade and collect NFTs.
With more than $10 billion in total sales, it is a true juggernaut, solely responsible for 135,000 ETH (~$450 million) in burned transaction fees since the London upgrade in August 2021.
No. 2 is the DEX poster child Uniswap, which brought Bancor’s Automated Market Maker model to the mainstream and is the go-to for coin swaps. Following these two monsters are SushiSwap, an erstwhile Uniswap clone that now lives on more blockchain platforms than any other DEX, and OlympusDAO and Curve Finance, two DeFi powerhouses.
NFT sales volume and transaction volume
Ethereum NFT sales amounted to $2.2 billion in September and $1.7 billion in October 2021, according to research by Messari, more than eight times the volume of the next competitor, Solana. Most of that volume comes from big-ticket sales such as CryptoPunks or BoredApes, where a single deal can be worth millions.
However, looking at just the dollar-denominated volume doesn’t paint a complete picture. Ethereum saw 132,879 unique buyers in October, compared to 68,235 on Solana. The average amount a collector spent on Ethereum was $12,878 in October 2021.
While Solana’s dollar-denominated value was only an eighth of Ethereum’s, its activity was half. Ethereum certainly faces strong competition in the NFT market, and sky-high fees hurt its position because they price out new entrants.
Figure: Daily NFT sales on Ethereum
Source: NonFungible.com
Top projects like CryptoPunks and BoredApes at record prices, and traditional companies like Adidas and Nike have launched NFT collections. So it is safe to assume that this technology is not yet exhausted, even if NFT transaction volume has dropped sharply, from 1.08 million sales in October to 360,000 in December 2021.
Explorer is one of the most important tools for crypto enthusiasts. It can be used to check the status of transactions and obtain data about crypto wallets. Previously, the crypto community members had to use several sites at once to access all the necessary tools to control transactions and verify cryptocurrencies. This approach is time-consuming. To work efficiently, you have to keep many tabs open in your browser and constantly switch between different platforms.
The team of the Getblock.net project has offered a solution to the problem. The developers have combined a full-featured multichain explorer with anti-money laundering (AML) tools in a single platform. Below you can find out how Getblock works. We also recommend bookmarking the platform for all crypto enthusiasts who value security.
What is GetBlock
Getblock.net is the first multichain explorer on the market with functionality for AML checks. Here’s what the platform can do:
Track blockchain transactions of six cryptocurrencies: BTC, ETH, BCH, LTC, ZEC, and DASH. You no longer need to switch between multiple explorers to check transactions in different networks. The developers promise to expand the list of blockchains that the platform supports in the future.
Check blockchain addresses and coins themselves for compliance with AML rules. Each check is accompanied by a detailed report.
How GetBlock works
To check the purity of addresses and coins, Explorer sends a request for analysis to Bitfury Crystal, a major AML data operator. The service helps determine if crypto addresses or digital assets are associated with any illegal transactions.
Bitfury Crystal’s working scheme is based on the clustering of data sets. The platform categorizes addresses and transactions. For example, Bitfury Crystal clusters the addresses that belong to the same organization. The scheme speeds up transaction analysis and allows visualizing the crypto’s connection to illegal transactions, if necessary.
Here’s what information you can get at Getblock.net:
Transaction
Blockchain address
Assessing the level of risk of the operation
Assessing the risk of interaction with an address
Data on the sources of coins
Data on the sources of coins in the cryptocurrency wallet
Technical information about the transaction
Information about the address operations
Information about previous senders and recipients of coins from a transaction
The explorer also determines the share of “clean” and “dirty” coins in transactions and crypto-wallets. Detailed analysis helps to filter out safe options.
Getblock.net gives the risk level of a transaction or cryptocurrency address as a percentage. An estimate of up to 60% is considered safe. From 60% to 90% is already a suspicious address/transaction. Above 90% are dangerous sources, it is highly recommended not to accept transactions from them into your address. The general assessment is supplemented by a detailed report indicating the sources of funds.
Why every member of the cryptocurrency community needs an AML explorer
Market participants who neglect digital hygiene are at risk of being caught by law enforcement and even losing cryptocurrency. Let’s look at an example:
2 bitcoins were transferred to Bob. With an explorer, he verified that the transaction was completed and sent the coins to a cold cryptocurrency wallet. The user had not checked the purity of the coins beforehand. Four years later, bitcoin went up. Bob decided to sell his coins. To do so, he transferred the bitcoin to a cryptocurrency exchange.
The next day, Bob received a message from the security service of the trading platform asking him to confirm the origin of the funds. During an AML analysis, the crypto exchange found out that the user’s coins were associated with a fraudulent project. To avoid breaking the law, representatives of the trading platform froze the suspicious assets. As a result, Bob lost his bitcoins.
The user will be able to get access to the cryptocurrency only if he proves his innocence. Problems could have been avoided if Bob had previously checked the purity of the cryptocurrency through a service such as Getblock.net.
AML checks for cryptocurrencies today are a necessary measure to help preserve assets.
Why GetBlock
Getblock.net has a user-friendly interface that even a beginner can handle. Also, unlike most competitors, the platform offers additional functionality:
Getblock.net provides verified check results that you can share. For this, all you have to do is send a static link to the check to another user. In the near future, the developers plan to add functionality that will allow you to download the results in pdf format.
In Explorer, you can add addresses to favorites to receive prompt data on new operations on them.
On Getblock.net, you can perform a check in two clicks.
The platform saves the history of checks in the personal account. You can quickly access the results, even from your smartphone.
Explorer users can perform AML checks in one of three ways: in the Explorer itself, in the personal account, or via a Telegram bot.
In addition, Getblock.net is the only explorer that produces a detailed report on AML checks with full data visualization.
Offer for crypto projects
Getblock.net has an API for program integration with other services such as exchange offices and exchanges. The API is implemented according to the JSON-RPC standard and can be easily integrated into any project. Thereby the project will get quick access to AML analytics.
For corporate customers, getblock.net offers favorable terms of cooperation:
a free package for 100 checks to test the service and set up API integration.
referral program – 20% of referrals’ payments attracted via affiliate links
promo codes for free checks to increase the loyalty of your customers
free checks in exchange for traffic to the blockchain explorer, one check for 5 targeted clicks.
The price of security
You can test Getblock.net for free. The platform gives one test for both registering on the site and subscribing to the newsletter. Also, the developers of the project have shared the PROMO22 promo code. With it, you can get 3 free checks. To search for other promo codes, you should go to the sites of the project partners.
The bonus program is constantly expanding. You can get free checks for subscribing to the Telegram channel of the project and other activities on social media. Follow Getblock.net news and promotions via social networks, such as Twitter.
Also, Getblock.net. has a referral program. Its members can earn 20% of the payments made by the users they attract.
The Getblock.net team offers three tariff plans. With the flex plan, the price per check is $1. The tariff allows the user to choose the desired number of checks (from 5 to 100). Competitors charge $50 for a minimum package of checks.
It’s most advantageous to buy large check packages. For example, with the “Maximum” package you will save 70% because the price for one check is reduced to $0,3.
Important! There are no hidden fees at Getblock.net.
The validity period of paid packages is not limited. The free check, which is given when you register, is valid for one month. The validity period of checks with promo codes is up to 3 months.
Important! Getblock.net has also launched GetBlock Magazine. The editorial team publishes the latest news from the world of digital assets, as well as various exclusive materials on a daily basis. With GetBlock Magazine, it’s easy to keep your finger on the pulse of events.
Get your free checks at Getblock.net and start following a digital hygiene routine to help keep your cryptocurrency safe by following this link>>>
What are the risks with DeFi and how can investors mitigate those risks?The biggest risk in DeFi is the so-called rug pull, which can be generalized to any action by the project team that is unexpected and harmful to investors, but often immensely profitable to the project team.
To some extent DeFi allows more opportunities for such actions, because the space is new, quick-moving, and investors are hungry for new opportunities and projects to invest in. This is why they often skip doing detailed due diligence.
Furthermore, due to the complex nature of smart contracts and DeFi composability, it’s often possible for a big risk to be hiding in plain sight, and unless you’re experienced in reading Solidity and actually put in the time to do due diligence, you won’t spot it.
For example, when Sushiswap vampire-attacked Uniswap, they had a so-called migrator contract as part of the design. The contract owner could set this migrator contract to a malicious address and withdraw all LP tokens.
While this didn’t happen in Sushiswap, many of it’s forks exploited this to steal all the liquidity staked, even if a migration was never on their roadmap. One way to protect yourself from such risks is to check if a project has been audited by a reputable security firm, but a significantly better way is to be able to read the code and understand the contracts yourself.
This will allow you to understand “intended behavior” that would pass an audit but allows the project team to “rug pull”, such as the one given in the example. If you’re unable to, just trusting your intuition in terms of whether something seems shady or too good to be true goes a long way.
Over time, DeFi will actually become more resistant to this – because of its open nature, anyone being able to read code can actually feel safer putting their funds in a DeFi project rather than a centralized exchange or platform.
As the industry matures and more people learn how to analyze these projects, DeFi’s strength of being fully transparent and auditable will shine.
When buying altcoins, it’s possible that there are early investors in that altcoin that you don’t know about. They bought at a much lower price before the coin was publicly traded so they are incentivized to sell and bag in a profit. To avoid this, cryptocurrency investors need to do deep due diligence and analyze the whole circulating supply of a specific coin/token before investing.
An Insider Insight with Ivo Georgiev, CEO of Ambire
But there is also a different definition of front-running when it comes to cryptocurrency investing. When you buy/sell tokens on a DEX, you may get front-run or sandwiched, allowing bots to benefit from your allowed slippage. Slippage in DEXes is the difference between estimated execution price before the trade and the execution price when the trade actually happens (when the transaction is mined), and sandwiching is inserting transactions right before/after your trade to manipulate the spot price, so that your trade is executed at the worst allowed price for you.
It’s still a form of front-running because the bot benefits from knowing your trade before it happens, and it’s the most widespread form. To prevent this, you can use a technology like Flashbots, which is a way of directly negotiating mining of your transactions with a miner, without broadcasting them publicly. The easiest way to do that is to use a wallet that has Flashbots built-in, like Ambire Wallet.
Is secure storage of Layer 1 cryptocurrencies like Ethereum different from secure storage of Layer 2 cryptocurrencies like Polygon (Matic)?
Secure storage of cryptocurrencies is the same regardless of whether it’s a L2 or L1 – it’s all about key management, and the industry standard for secure key management is to use a hardware wallet like Trezor/Ledger.
There is one caveat to that – bridged assets that exist on Ethereum but not natively on Polygon, but are bridged to Polygon, carry the extra bridge risk – for example, if the bridge gets hacked, the Polygon wrappers of those assets may suffer. As such, it’s better to keep those on their native chain (Ethereum).
What are the best blockchains for earning yields in DeFi and what yields per annum can investors make potentially?
This varies by the day but UST on Terra was pretty popular, allowing over 30% yields on their native stablecoin before the collapse. As a less proven chain, this was riskier than lending USDT/USDC on Ethereum for something like 3-5%. A middleground in terms of risk/reward is earning yield on stablecoins on Polygon, with a couple of solid options:
Aave and Tesseract (Yearn alternative on Polygon), both allowing yields between 5-10%. Whatever the case may be, all these yields are at least ten times better than what banks can offer you, especially in this low-interest economic climate.
One way to protect yourself from such risks is to check if a project has been audited by a reputable security firm, but a significantly better way is to be able to read the code and understand the contracts yourself!
Thanks to its decentralized nature and total transparency, the blockchain technology has proven to be a very powerful foundation for the future evolution of the way people do business.
While blockchain networks are, obviously, utilized in the financial sector through the use of cryptocurrency apps, blockchain technology is potentially applicable to other industries as well. One such industry is the healthcare sector. In fact, there’s already been several documented and successful use cases of blockchain tech in healthcare.
In this article, we’ll examine several use cases that could have a role in changing the way healthcare is run in the future. Each of these cases is interesting because they have demonstrated the game-changing potential of blockchain networks, and the power they have to improve the world in a meaningful way.
The Possible Applications of Blockchain Networks for Data Management
One of the problems that the healthcare sector is faced with today is related to data management. Cumbersome systems currently in place make it harder for doctors to access patient data, and the data is vulnerable to hacker attacks. Moreover, the patients don’t have ownership over their medical data.
Medical Digital Real Estate
All of this can be improved with the assistance of blockchain technology. For example, there have been reports of healthcare organizations making money by selling the patients’ data, which itself is a type of digital real estate. If you’ve been wondering how to invest in real estate with crypto technology, then you might be interested to hear that, in the future, the patients themselves should be able to trade or sell this digital real estate by relying on blockchains.
Namely, there is talk that patients’ data will come in the form of non-fungible tokens (NFTs). Regardless of whether those will be whole NFTs (belonging exclusively to patients), or fractional NFTs (wherein the ownership is shared between the patient and the hospital), this will bring substantial monetary benefits to patients.
And what’s best, those are just a few of the many possible future applications of blockchain tech.
Four Top Blockchain Use Cases in Healthcare
Let us now take a look at such systems that have already evolved out of the idea stage and into practical reality.
Security – Akiri
It is not a rare occurrence that the patients’ data, including their credit card information, is stolen by hackers from the insecure centralized databases used by healthcare organizations. In fact, between 2009 and 2017, there have been some 176 million breaches in the patients’ data security in the USA alone!
Akiri, a blockchain network-as-service designed for use in the healthcare industry, is one of the solutions for this problem. Data stored on blockchains cannot be corrupted and is transparent. Moreover, blockchains offer strong data encryption measures, making it extremely hard for hackers to “crack” the data.
Akiri has successfully capitalized on these blockchain advantages, by producing a system of secure data that can only be accessed by the verified parties. In order to decrypt the security measures, users will need to possess a corresponding public key.
Medicine Distribution Control – MediLedger
The healthcare industry suffers from a high number of counterfeit drugs on the market. These drugs are not properly authorized for use and can easily contribute to the further deterioration of the patients’ medical issues.
The number of fake medicines that were captured in the USA in 2021 alone is an alarming indicator that something must change as soon as possible. Namely, if the DEA captured more than 9,5 million fake medications in a single year, then you can imagine what the situation is like in less developed parts of the world.
Of course, blockchain tech can solve these problems. MediLedger is a blockchain protocol that makes it possible for healthcare organizations to keep track of medicine at every step of the way. From the moment a drug is manufactured, the blockchain protocol stores all data that might be needed. Expiration date, manufacturer, and shipping status are just some of the relevant information.
Drug Development – Boehringer Ingelheim
Drug development is a very complex operation, and not just from a scientific point of view, but from the organizational perspective as well. Many people are involved (researchers, doctors, study subjects, sponsors, drug manufacturers), and there’s a huge amount of data produced. Because of this, mistakes aren’t difficult to happen, and it is possible to falsify the information with relative ease.
By providing a convenient way to store and keep track of all the information pertaining to clinical trials, blockchains can make the entire operation much more manageable. Moreover, those clinical trials with questionable protocols will be easier to identify. Finally, all participants can view the data at the same time, regardless of their physical/geographical location, which streamlines the decision-making process.
The Boehringer Ingelheim company offered its services to the clinical trials executives, by offering a bookkeeping system built on the blockchain technology. Among other benefits, this system greatly speeds up the process of paying the participants for their involvement, which used to last for several months at a time.
Genome Research – EncrypGen
The cost of conducting genomic research has greatly shrunk in the last few years. What used to cost $10,000 is now doable for less than $1,000. However, researchers are still faced with the problem of finding enough participants for their genome research. Apart from that, there’s a problem with insufficient and insecure storage space, given that obtained datasets are massive and much storage space is needed.
Enter blockchain. Similarly to the patients’ medical data, blockchains can help by providing the genome research participants with full ownership over their datasets. In fact, EncrypGen did just that. This service offers a blockchain-based marketplace, where participants can sell their genetic data by using traceable tokens.
A Promising Future
So, as you can see, the use of blockchains doesn’t end with buying Bitcoin and investing in cryptocurrency exchanges for personal profit. Its applications can be more humanitarian in nature too, and can actually make the planet Earth a nicer place to spend our days on.
But, these four use cases of blockchain in the healthcare sector are, in fact, just the tip of the iceberg. There are many projects currently in development, and many more which are already offering assistance to the extremely important healthcare industry. Indeed, the future looks exciting for the blockchain technology and its many admirers.
An increasing number of sportsbooks are inviting their customers to wager with digital currency. In fact, some of the best betting sites accept Bitcoin, thus making it simple to place bets on your favorite sports whenever you want.
The benefits of bitcoin gambling range from lightning-fast transactions to fantastic bonus offers, as well as having a number of different platforms to utilize. When it comes to the best sites to gamble online, a number of advantages can be had, including anonymity and increased security. Let’s take a look at some of the main advantages that can be enjoyed.
Quick transaction
It is simple and secure to use BTC for betting purposes. BTC’s global and decentralized character explains this. Because BTC is a web-based digital currency, it’s no surprise that BTC transactions are completed rapidly. Players do not have to wait long to make their deposits or withdrawals.
Security and privacy
Regular casino players frequently enter their personal information into online casinos which some players despise. The usage of BTC for gambling does not reveal any personal identity or information about the participants. Because their information is safe and secure, players appear to feel more confident in placing their wagers. When it comes to online casino computations, though, BTC is a secure bet.
No limit to location
Another key advantage of wagering with bitcoin is that it is not restricted by geography. There are no limits to the quantity of cryptocurrency you can deposit. If you wish to deposit $10,000, you may do so right now and it will go through without any problems.
Fairness and transparency
Crypto and bitcoin casinos, unlike regular casinos, are founded on blockchain technology. The decentralized structure of blockchain ensures that all users are treated fairly and transparently. It also provides you with the assurance that the money you invest will not vanish overnight, cryptos will only be transferred from one user to another if certain requirements are met.
Variety of games
Definitely not all casinos can provide you with the same level of variety. However, there is no such thing as a restriction when it comes to crypto gaming. You can play any game you choose from the convenience of your own home.
It’s also worth noting that most of these games were made by top-tier developers and included cutting-edge technology. As a result, you can rest assured that your trip will be absolutely safe and leave only great impressions.
Bonuses
One of the most obvious benefits of crypto casinos is the bonuses they give. Bonuses can help you get ahead by providing you with more value for your money. Some casinos provide up to 5 BTC in welcome bonuses or even a no deposit bonus that allows you to gamble for free for a set period of time. Reload bonuses, cashback offers, and other sorts of promotions such as tournaments and raffles are also available.
Conclusion
Finally, excellent customer service is one thing to be certain about before wagering your Bitcoin on a site. As you can see, there are numerous benefits to using cryptocurrency. Crypto gaming is the way to go if you’re seeking a safe, convenient, and secure way to wager!
