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November 03, 2020, 05:10:22 PM |
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About the cryptocurrency investment market
Over the last couple of years, billions of dollars have been poured into the blockchain and digital currency markets. Ambitious projects are actively creating next-gen solutions for many of the problems that we are dealing with today. Due to the highly competitive nature of the space, picking out the right project to invest in tends to become troublesome.
In this article, we will provide readers with a presentation of EarnBet - a decentralized cryptocurrency casino boasting a lucrative investment opportunity.
An introduction to EarnBet
EarnBet is not your average casino. It is a fully-decentralized, non-custodial, and on-chain gambling platform offering a series of highly-entertaining games and support for over 12 popular cryptocurrencies. The casino has adopted a profit-sharing philosophy, meaning that players and investors can stake BET tokens to receive monthly dividends.
Exploring EarnBet’s staking feature
The staking feature was designed to be straightforward for both players and investors.
Every time a player wagers on a game, they receive BET tokens as a reward. At this point in time, 1 BET token is offered for every 0.02 BTC that’s wagered. Over the long run, loyal players can earn a considerable amount of BET tokens, thereby reaping multiple rewards.
Investors who are not interested in gambling can easily purchase BET tokens from one of the multiple supported exchanges. These include UNISWAP, Binance DEX, P2PB2B, Newdex, and HOTBIT.
Once a user has obtained a viable number of BET tokens, these coins can be staked for a predetermined period of time. The longer the lock-up period, the more staking points a user will receive. As such, a 7-days lock-up period entails a point multiplier of 1.10x, whereas users who stake for five years will receive points worth 8.88x of their original stake.
100% of EarnBet’s BTC and ETH profits are then distributed in the form of dividends. Profits obtained in other coins will be utilized to buy back BET tokens, as expressed in a subsequent section of the article.
Distribution is made according to the number of stake points held by each customer. So far, over $3.8 million have been paid out to users who decided to stake their BET tokens. With this in mind, investors can obtain considerable returns, based on the overall profitability of the casino.
The BET token can also be leveraged to decrease the house edge. In doing so, users can increase their odds and access a higher theoretical return to player (RTP).
Understanding the tokenomics of BET
It’s important to point out that BET tokens have accumulated quite a bit of value. At press time, BET is valued at $0.029. Assuming a 5-year stake period, users have generated an APY of 51.26% over the last two months. From an all-time perspective, the APY is approximated at 129.1%.
Thanks to a recent community vote, EarnBet has decided to buy back a significant percentage of its tokens, which will then be burned. This deflationary strategy will improve BET’s value in the long-term. Consequently, purchasing BET tokens for staking purposes is less risky when compared to other investments. Once the staking period is finalized, investors can simply sell their tokens if they’re unsatisfied with their monthly dividend pay-outs. Given the rising value of BET, this sale will likely generate profits by itself.
Based on everything that has been highlighted so far, EarnBet aims to cater to both gamblers and investors, by providing entertaining games alongside an innovative investment opportunity.
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