Bitcoin Press Release: 1xBit casino announces support for the use of the Binance Coin (BNB) cryptocurrency on its betting platform.
17th December 2020, Limassol, Cyprus – Top crypto casino 1xBit has added Binance Coin (BNB) to its long list of supported cryptocurrencies. Henceforth, users of the platform can utilize the cryptocurrency to bet and earn many rewards and bonuses available for them.
What Is BNB?
BNB was created in 2017 as an ERC20 token on the Ethereum blockchain. In 2019, the ERC20 BNB tokens were swapped with BEP2 BNB during which the Binance Chain was launched, and now it hosts the coin. Since then, BNB has become the native currency used to run the Binance Chain blockchain.
BNB coins are pre-mined, which means there is no need for a system to mine new coins like the case of Bitcoin (BTC). It is worth noting that Binance Chain uses an algorithm known as Byzantine Fault Tolerance (BFT) for consensus. In this mechanism, validators earn coins by helping to validate transactions.
How Is BNB Used?
Currently, BNB is the 7th largest cryptocurrency by market capitalization. Its growth to this level can be easily traced to the several things it is used for. It can be used to make payments for goods and services to online merchants. In 2018, it was reported that BNB was available at 2.3 million merchants worldwide. This number is likely to have amplified significantly by now. This is a major way to increase the adoption and value of a cryptocurrency.
Because of its cheap transaction fees, BNB is used to pay for transactions on the Binance exchange. According to the 2019 year review, Binance processed nearly $3 billion in transactions daily. As the number one exchange in the industry, this will significantly boost the value of cryptocurrency.
BNB is also used for ICOs on Binance Launchpad. When launching new projects, they conduct an initial coin offering that allows investors to buy the tokens launched. On Binance Launchpad, this can be done using only BNB.
Binance Coin has become very popular in the world of gambling, another fast-growing use case for cryptocurrencies. As a result, 1xBit now has this crypto available, and users can enjoy all the advantages of using BNB when they sign up on the casino. This is in line with efforts to increase the number of available cryptocurrencies for betting on the platform.
About 1xBit
1xBit is one of the oldest and most trusted crypto casinos in the gambling industry. It offers several bonuses, such as the welcome bonus of up to 7 BTC, for its new users after making their first 4 deposits. It has a large number of available cryptocurrencies for gambling, currently over 25. Betting is done completely anonymously, as the registration is simple and does not require a lot of personal details. Users can withdraw their earnings easily and for free because 1xBit does not charge withdrawal fees.
Conclusion
Now that you have learned about the benefits of using BNB, go ahead and sign up on 1xBit to take advantage of the many benefits, bonuses, and incentives available on the platform. It’s the perfect time to use the BNB token on 1xBit and enjoy the best gambling experience.
For more information about 1xBit, please visit – https://1xbit.com/
Check out the official 1xBit blog for the latest articles – https://1xbit.com/blog/
Media Contact Details
Contact name: Anastasia Semenova
Email: marketing@1x-bit.com
1xBit is the source of this content. This Press Release is for informational purposes only. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all.
Source: thinkbitcoins