The adoption of blockchain technology in the online gambling space is at an all-time high as many platforms are exploring ways to leverage the benefits offered by cryptocurrencies’ underlying infrastructure. Few projects have already introduced transparent, user-friendly, and secure solutions. EarnBet is one such project that has been pioneering in this front. The decentralized cryptocurrency […]
The adoption of blockchain technology in the online gambling space is at an all-time high as many platforms are exploring ways to leverage the benefits offered by cryptocurrencies’ underlying infrastructure. Few projects have already introduced transparent, user-friendly, and secure solutions. EarnBet is one such project that has been pioneering in this front. The decentralized cryptocurrency gaming platform, formerly known as EOSBet is one of the largest licensed gambling dApps in the world.
Let’s Learn a Bit More about EarnBet
A creation of Curacao-based Aurora Tech NV, EarnBet is a WAX blockchain-based decentralized gambling platform that has been around since 2018. This licensed operator with a valid Curacao license (GLH-OCCHKTWO711012018) is an early mover in the space, distinguishing itself from others by completely relying on smart contracts and in-house games to offer a 100% transparent, user-friendly gambling experience. The extreme reliance on blockchain technology also means that all the game contracts, outcomes and winnings are immutable, stored on the ledger and can be verified by anyone at any time.
EarnBet is a crypto-only gambling platform, supporting deposits and withdrawals in a wide range of cryptocurrencies. The platform also has its own BET token that forms the backbone of attractive staking and loyalty programs.
Currently, users on EarnBet can enjoy six tried and tested games, which include: Dice, Blackjack, Baccarat, Crash, HILO, and Jackpot. EarnBet may soon expand its game offerings by introducing new titles.
Getting Started on EarnBet
The first step towards having loads of fun on EarnBet is to create an account on the platform. It takes less than a few minutes to register on the platform. New users can sign up on the platform by entering their name, desired username, and email address before they can fund their account with at least 100 USD worth of cryptocurrencies to start placing bets. During the account opening process, users will be presented with a recovery phrase that will enable them to access their account and funds. The recovery phrase must be stored safely as it Is the only way one can access and control any funds deposited into their EarnBet wallet.
Deposits and Withdrawals on EarnBet
As a crypto-only platform, EarnBet supports a wide variety of popular cryptocurrencies. At present, the list includes BTC, LTC, BCH, ETH, LINK(ERC-20), BNB (BEP2), XRP, WAX, EOS, TRX, USDT (ERC-20), USDC (ERC-20), DAI (ERC-20) and FUN. The platform doesn’t charge any deposit or withdrawal fees and all payments to and from the platform are processed instantaneously. However, there is a minimum limit for withdrawals which may vary depending on the preferred cryptocurrency.
Being based on the WAX blockchain, the EarnBet contract converts all supported crypto deposits into WAX tokens of equivalent value to place wagers on the betting contract. Whenever a user chooses to initiate a withdrawal, these WAX-based tokens will be swapped to the cryptocurrency of choice and sent to their wallet.
Every time a user places a bet on the platform, they will receive BET tokens as rewards. Users choosing to hodl BET can avail a lower house edge and a share of EarnBet’s profits in the form of dividends. The platform also issues weekly rewards to high rollers on the platform. Players occupying the top ten positions on the EarnBet leaderboard will receive these rewards in the form of BET tokens.
BET tokens are also available for trade on top CEXs and DEXs like Hotbit, Binance DEX, Uniswap and more.
Customer Support and Safety of Funds
EarnBet is a completely decentralized gambling platform that allows users to always stay in control of their funds. The platform doesn’t ask or store any user’s personal information or funds. All the contracts implemented by EarnBet are audited to ensure there is no security risk. The security and transparency are maintained throughout the platform to offer a fair and fun gaming experience by ensuring that all games offered on the platform are provably fair with an option for users to verify the outcome of each game.
The customer support team at EarnBet is always within reach to answer any queries. They can be reached over multiple social media channels, live chat on the website or over email. In addition, EarnBet also has step-by-step instructions for each game, a comprehensive list of FAQs and other resources readily available on the website to provide some clarity on some of the most common questions or issues users may face.
Sweetening the Deal
The platform offers exciting promotional bonuses and commissions to its userbase. Some of these attractive offerings include a welcome bonus of $50 worth in BTC, access to the EarnBet VIP club where high rollers get access to exclusive giveaways, cashbacks, priority access to customer support, early voting rights and more.
Verdict
EarnBet is a user-friendly, transparent, and regulated decentralized online gambling platform that ensures the player is always in the driver’s seat. The simple onboarding and gameplay, combined with security, absence of mandatory KYC and geographical restrictions make it ideal for those looking for a simple and safe crypto gambling option.
Sign up on EarnBet at https://earnbet.io/
The post A Brief Review of EarnBet Decentralized Online Gambling Platform appeared first on Live Bitcoin News.
