Crypto gaming has become a popular subsector of the cryptocurrency industry, while it is still in its nascent stage, there are already several gambling-oriented projects cropping up that aim to tap into the lucrative market; in recent times, more and more online casinos have started accepting cryptocurrencies as payment, and this has increased their user base and lowered the friction for them to get new customers.
These developments have created an unprecedented need for crypto-specific gambling news updates so that players can stay informed about up-and-coming player-friendly projects- let’s have a look at some of the most recent crypto gambling news updates.
New Crypto Gambling Platforms Launched
Several new gambling platforms have recently launched their ICOs, some of these platforms are aimed at bridging the gap between the blockchain and the fiat world and some of the latest crypto gambling news updates tell us that casinos are now accepting a variety of wagers.
One such platform is staking, which allows users to bet their tokens on the results of sporting events, these casinos also provide betting markets for commodities like gold and oil and allow users to trade futures on the results of events like elections or sporting events and to ensure transparency, these platforms use white-hat automated trading bots, which ensure that no human traders are involved in the trading process.
Binance to Launch Its Crypto-Based Gaming Platform
Binance is one of the most popular cryptocurrency platforms, it currently supports more than 30 cryptocurrencies, including various trading pairs to fiat currencies, and various trading pairs to various other cryptocurrencies; the company has announced that it will launch its blockchain-based gaming platform, and the platform is expected to address the issues of trust that plague the existing gaming ecosystem.
It may be challenging for a user to simply create a verified account on an existing gaming platform, according to Binance, since doing so necessitates the creation of a new public address that can be tracked by hackers, in contrast, Binance’s blockchain-based gaming platform uses the same public address to verify and generate a new private key upon log-in, helping to ensure total user privacy.
Another Big Name in Crypto Gambling is Looking for Partnerships
Another big name in the crypto gambling industry is looking to form partnerships with leading online gaming platforms, this is a standard practice among leading online casinos and poker rooms- they seek partners to provide them with marketing and promotional services; some of these partnerships may involve the exchange of tokens.
Bitmex, a cryptocurrency derivatives trading platform, has announced a partnership with a leading online casino- the partnership enables it to offer a variety of derivative products to players on the online casino, the products include contracts that pay out a fixed amount of Bitcoin if the price of Bitcoin reaches a certain threshold during a certain time interval; BitMEX is one of the leading platforms for trading
cryptocurrency derivatives, enable users to set up leveraged trading positions that can be used to speculate on the price movement of digital assets.
Conclusion
Although it is still in its infancy, cryptocurrency gambling is swiftly gaining popularity, for players to place bets, the blockchain offers an open and safe platform, additionally, it gives authorities a better means to keep an eye on online gambling and safeguards participants from fraud- gambling on the blockchain is fully decentralized, which is its best feature.