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Cloudbet Now Allows Betting with Gold

Posted on November 2, 2020November 1, 2020 by Laura P.

Pioneering crypto casino and sportsbook Cloudbet has been known for pushing some of the biggest developments in the crypto betting industry. The company has been working very hard to push its business forward and in mid-October, it debuted yet another significant feature that has sent ripples through the sector. Cloudbet customers will are now able to bet online with gold.

Pax Gold otherwise referred to as PAXG, will be one of the many forms of payment that will be available to the platform’s users. Every unit of PAXG is backed by one fine troy ounce of a gold bar. The physical gold assets are in this case held in custody by the Paxos Trust Company. For many people, this makes the gambling platform more attractive since the virtual currencies in use are tied to physical assets and are therefore inherently more stable.

The historical decision to allow crypto users to bet using gold is, without a doubt, a very unique milestone for the evolution of the crypto sector especially with regards to the tokenization of physical assets. This simply means that gold has been made divisible, tradeable, and much easier to exchange on the online space thanks to smart contracts and blockchain technology.

According to a spokesperson from Cloudbet, this decision is definitely customer-centered in as much as it is also going to benefit the company significantly. The goal is to allow their users to “express their spending habits through the assets they choose to hold, rather than having to use currencies to which they hold no philosophical or economic attachments.”

The Stablecoin Revolution

PAXG is not the only stablecoin that Cloudbet customers have access to. The online gambling platform has already integrated USD Tether and USD Coin which are by far the most popular stablecoins on the planet at the moment. Clearly, Cloudbet is going all-in on when it comes to these rather special virtual currencies.

The reason for this is pretty simple. As hinted earlier, while stablecoins also offer all the best traits of cryptocurrencies, they are most popular because they are tied to physical assets or fiat currency. This makes them a much safer bet for just about anyone. Newbies are more likely to trust these than opt for other forms of cryptocurrency that are infamously volatile.

All in all, since they are the fastest-growing types of digital currencies at the moment, it will not be too surprising to see Cloudbet and other iGaming operators integrate even newer stablecoins in the near future.

CoinPoker Migrates All its Tables to USDT

Posted on October 2, 2020October 1, 2020 by Martin S.

CoinPoker has kicked off the new month by implementing a huge change to its very popular online poker platform. Beginning October 1, all of the operator’s tables have been migrated to USDT, a popular stable coin that, as its name suggests, it linked to US Dollars exchange rate.

The online poker platform is the first to introduce USDT as its in-game currency, a move that is expected to bring over some much-need changes to the operator’s offerings. This will certainly be a major boost for the site as it strives to extend its footprint across the vast online gambling industry.

The Perks

To begin with, one of the first things that the operator is pursuing with the decision to use USDT is to solve the volatility issues that continue to plague several different digital currencies. More players are definitely going to be more willing to play online poker on the platform using a digital currency that is pegged to the value of the dollar.

USDT checks all of the right boxes when it comes to stability, transaction speed as well as overall reliability. For the poker community, it is definitely going to be a great option especially because of its superiority in terms of providing liquidity and a hedge against volatility.

Poker players are now also going to have the lowest rake in the industry while at the same time enjoying a verifiably fair decentralized card shuffling mechanism, a combination that is yet to be seen anywhere else.

More Features from CoinPoker

Since not many people will already have USDT, CoinPoker has also made currency conversion super easy. Not only can the players easily convert fiat to USDT from their bank accounts but they also able to deposit and withdraw in BTC and ETH. CoinPoker’s in-app currency conversion is pretty robust and reliable, something that lots of poker players will certainly love.

In case you are wondering what will become of CHP, CoinPoker’s original token, it will still be available for use for rake purposes. In fact, it will be used right alongside USDT. Players will note be forced to use CHP but suing its will, however, guarantee some pretty lucrative extra perks such as extra leaderboard points, rakeback, exclusive access to the operator’s sportsbook as well as massive discounts on withdrawal fees.

The amazing bonuses that the operator dished out on October 1 were just the beginning. There is so much more to come. Still, there is no better time to join the action than now.

Bitcoin SV and Provably Fair Gambling in the Online Space

Posted on June 2, 2020June 2, 2020 by Martin S.

It has been over a decade now since the online gambling industry began to tap into the mind-blowing features that crypto has to offer. One of the most notable concepts in that regard has been provably fair gambling that is made possible by the blockchain which is trusted for recording transactions both immutably and transparently.

Bitcoin, which is the mother of all digital currencies, has been an option for gamblers since 2014 but despite its popularity, it is receiving a decent amount of competition from other currencies such as Ethereum, Litecoin, Bitcoin Cash, and Bitcoin SV.

In several places, the Bitcoin SV (BSV) blockchain has been growing in popularity especially because of its growth and the tremendous development it has gone through. As it stands, the Bitcoin SV blockchain is considered to be the very best network when it comes to hosting provably fair games. Unlike other digital currency projects, Bitcoin SV has put aside most of its efforts to push electronic cash and instead opted to focus on allowing unlimited scalability. The ultimate goal has been to do all that while at the same time keeping the BSV blockchain secure, stable, and efficient.

That said, it is not too surprising that many online gambling operators are leaning towards Bitcoin SV. Already, people in some states in the United States and some countries around the world are able to buy the digital currency using either credit cards or bank transfers. This is made possible by BuyBSV.com, a site that is touted as one of the easiest and safest ways to buy Bitcoin SV.

Are There Alternatives?

There are, of course, a lot of things that make Bitcoin SV stand out from all the rest. However, its popularity and adoption are still undermined by the fact that it is undervalued. A decent number of digital currency exchanges do not support the currency and even the ones that do have made it quite hard to trade it.

Thankfully, the world of crypto is largely about freedom of choice. Gamblers and crypto enthusiasts can stick to BSV or try out some other options including Bitcoin, Bitcoin Cash, Litecoin, Ethereum, and USD Tether (USDT). USD Tether, for instance, has been gaining quite a bit of attention on the online gambling space due to the fact that it is tied to the US Dollar. This means that it is not nearly as volatile as other digital currencies. Most casinos can consider this as an option for gamers who are looking for an entry point into the world of crypto gambling.

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