The emergence of the internet was the most recent big shift in the gambling industry, and most bets are now placed online. High-street bookmakers and land-based casinos have lost the battle, with an annual record number of closures. When it comes to making bets, gamblers prefer the convenience of online casinos and apps. These platforms require a middleman to manage the many operations in order for them to function, but that is about to change. Now, owing to crypto and smart contracts, a computer code can operate as the operator, reducing costs and streamlining the process.
The SHA-256 algorithm was used to create Xbit Coin, which is also known by its exclusive code XBT. Other cryptocurrencies, including Bitcoin and other digital currencies, have adapted this method, making it one of the most popular in the crypto industry.
Xbit Coin can be used as a general-purpose cryptocurrency for traditional financial transactions, but its primary purpose is to administer the reward chain of a specific online game activity. Xbit Coin is backed by a well-established financial institution in the form of the online casino Xbit. As a result, the Xbit Coin is thought to be represented shares for the Xbit Casino.
Blockchain Ecosystem for Online Gaming
Every market and industry will inevitably be impacted by blockchain technology. Gaming on the internet is no exception. Transparency, efficiency, decentralisation, and, most importantly, privacy and security are not provided by traditional and traditional ways of online gaming.
Xbit is a Blockchain-based startup that provides gamers with the benefits of this technology. In the midst of all traditional gaming platforms that do not offer them the advantages of a Blockchain-based platform, gamers require Xbit coin and online Casino Xbit.
The proceeds from the selling of the coins will be used to improve and grow an online gaming business. All of the proceeds from this service will be distributed using the way described above. The online gaming service revenues cover all of the business’s costs and expenses, including current expenses, personnel, and so on.
Utlization of Investment Return in 3 Ways
The purchasers have the option to stake their coins. The coins are frozen and cannot be transferred using this way. From the 200 million coins allocated to the operators of the Xbit online gaming service, a 5% return is offered for each year of staking.
The Xbit online gaming firm calculates and announces the return on staking at the end of the year based on certain formulas. To calculate the return for each individual coin, divide the total return by 800 million. Then, in the form of CCXX coins, the return calculated for all staked coins will be given to each wallet. Regardless of when the coins were purchased, this profit is distributed to those who have staked them. The coins that are not staked receive no profit at this level.
Because some of the 400 million coins purchased by buyers may not be staked, the portion of the earnings designated to non-staked coins will be purchased from Xbit Coin sellers and destroyed (this amount is actually the undistributed profit of the online gaming service)
Equipped Capabilities of the Coin
This coin can be bought and traded on a variety of exchanges that offer it.
Using popular wallets for transactions (sending or receiving coins)
Possibility of staking coins with a guaranteed annual return
The coins have been totally pre-mined.
The current market price of Xbit coins can be used to charge the online gaming account.
Valuation of the Coin
The starting price of coins will be established at the first stage of the offering. In relation to the quantity of burned coins, this value will rise. Through the buying and selling of coins, this price might also rise in accordance with the price set at other exchanges. Because Xbit coins are linked to the online gaming service’s financial performance, a significant growth in value is projected.
Process of Staking
The distribution of bitcoin on exchanges will diminish as a result of staking. As a result, the cost of coins will go up. Additionally, the approved business may have access to additional resources. Staking is done in such a way that only coin owners have access to private keys, and no one else will be able to transfer the coins.
A new wallet address is created when a user enters the staking system. The user is provided the private key. The generated wallet address receives Xbit currency. The staking system keeps track of this address. At the end of the term, 5% of the lowest amount staked for the full staking period will be transferred as profit to the address.
The user has the option to terminate the staking arrangement at any moment and withdraw the remaining funds. Only the remaining balance will profit in this instance.
From where to Buy Xbit Coin
The most convenient method is to buy Xbit Coins directly from this website.
You will be able to buy Xbit in exchange for Counos X (CCXX), Tether (USDT), and Wrapped Xbit using this Direct Buy method (WXBT).
All you have to do is fill out the form and choose one of these digital currencies to pay with. For example, you can use Counos X to make a quick and easy payment and then receive the right amount in Xbit Coins. Furthermore, Xbit Coin will be featured on Alterdice soon, with the following pairs: XBT/USDT and XBT/CCXX, allowing you to buy Xbit with Tether and Counos X, as well as vice versa.
Many more exchanges will list Xbit soon, and other than Alterdice, ExMarkets, DexTrade, Emirex, Koopal Exchange, DEX Koopal, Counos Centralized Exchange, and Counos DEX are also among these exchanges.
It’s important to note that Xbit’s mission is to build riches in the casino for users, by users. As a result, as more wealth is created in this casino, more revenue is split among coins as annual staking profit, making these coins more valuable. The more demand for a specific supply, the more valuable it will become, which is essentially one of the most basic financial and economic ideas. Through this unique concept with having advance technology of blockchain ecosystem, Xbit will drive the innovation in online gaming/ gambling industry.