Crypto investment is steadily on the rise becoming necessary in all the domains of our everyday life and crypto gambling is a pretty common thing nowadays. According to Coin Bureau, over 7.5 billion USD was transacted in crypto currency gambling in 2019 alone. Many people have heard of different coins that are widely used in the crypto market, and now the new coin is added to the list – Binance Coin (BNB). But what is BNB exactly?
BNB is a crypto used to power the Binance Chain and facilitate the trading of cryptocurrencies on the Binance exchange that was launched through an Initial Coin Offering (ICO) in 2017.
Binance Coin (BNB) runs on the Ethereum blockchain, which partners with the likes of heavy hitters like Microsoft Corporation, JP Morgan Chase, Asia’s 20 million strong users of the streaming service, Uplive, as well as Visa debit card of Monaco. With such financially robust backers, Ethereum has benefited from the technology excellence of its partners. Now BNB has several advantages over other cryptocurrencies. Transactions with BNB are generally cheaper than with other top cryptos, such as Ethereum (ETH) and Bitcoin (BTC). It is a reliable coin that has considerable growth potential, given its popularity for transactions.
With all the advantages named BNB claims to be one of the fastest-growing cryptocurrencies, which managed to become one of the top ten. According to the Q3 report of cryptocurrency performance, it was the 2nd best performing crypto after Chainlink (LINK).
How to Buy and Use BNB
If you hold BNB, congratulations, but if not, you can easily buy some. All you have to do is create an account on the Binance exchange or any other one that has it listed. You can either buy with fiat currencies, such as USD and EUR (Binance allows this), or use other cryptocurrencies you already have, such as BTC or ETH, deposit the funds you want to use for the purchase, and then you can trade it for BNB.
With growing use cases, which play a critical role in determining the current and future value of a cryptocurrency, BNB is becoming very popular. People widely use it in different domains, including betting, which is one of the most recent use cases for the cryptocurrency. Its low transaction fees make it perfect for multiple deposits and withdrawals that are typical for gamblers who don’t want to lose so much of the reward they get. Crypto casinos now use many cryptocurrencies to give their users several options for gambling. One of such casinos is 1xBit, which recently announced BNB as one of its supported cryptocurrencies. This is in an attempt to expand the growing list of cryptos on the platform.
What Is 1xBit?
1xBit is one of the first and oldest crypto casinos in the world. It has over 20 cryptos supported, and users can bet using any number of them. Newcomers are rewarded with a welcome bonus of up to 7 BTC for the first 4 deposits made plus regular promotions. It also provides complete anonymity to its clients with minimal registration and regulation requirements, so they can place bets without revealing their true identities. Signing up on 1xBit takes a single click, and rewards can be easily withdrawn to a personal wallet free of charge.
Binance Coin, with its technologically advanced partners that bring their financial assets and technological excellence to the table, is already exploding in popularity. Pair the popularity of BNB with the addition of a robust micro economy of world gamblers, and you’ll understand how far and how wide BNB profitability can rise, and rise quickly.