Bitcasino.io Review: Are they really fun, fast and fair?

Bitcasino.io is the world’s first Bitcoin-licensed (and operated) online casino that supports a host of cryptocurrencies. Right now, they support Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Tether (USDT) and Tron (TRX). That means wagering, winnings, deposits and bonuses are all done in cryptocurrency. Signing up to Bitcasino is easy and can be done in a few seconds. Simply click on ‘Register’ and pick a username for yourself.

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Is Bitcasino legit?

Yes, Bitcasino is licensed and regulated by the Government of Curaçao under the gaming license 1668/JAZ. In addition, as Bitcoin and other cryptocurrencies are run on the blockchain, this enhances safety as well as transparency of the casino.

As a legit online casino, Bitcasino encourages responsible gambling and has a self-exclusion process as part of their social responsibility. Anonymity is another aspect that Bitcasino offers. All their games are regularly monitored to safeguard your personal information, and the site is further secured by the casino’s use of blockchain technology.

In addition, a website’s ultimate mark of transparency and legitimacy, especially for gaming websites, is its use of SSL encryption. Bitcasino is SSL-protected and has its casino license clearly on display, all of which makes one feel that they are indeed a legitimate online casino.

Bitcasino bonus and Loyalty Club

Bitcasino has updated their rewards section and they do it a little differently compared to other online casinos. Instead of deposit bonuses, they offer bonuses/rewards through regular promotions and tournaments. All of these are listed on their Promo and Tournaments pages, and any rewards you earn come with no wagering requirements.

They also have an in-house Loyalty Club where you can be rewarded for playing your favourite games and get up to 10% cashback. There are different loyalty levels for you to reach, along with different milestone rewards that are tailored to your gameplay.

Wide variety of games including table games and live games

While Bitcasino has over 2,000 slot games, it’s worthy to note that they have an impressive selection of table games as well as live dealer games such as Roulette, Blackjack and Baccarat. For those who want to up the thrill and ante, their high stakes Bombay Club VIP casino is said to give you the thrilling, high-end live casino experience you seek.

Their wagering requirements are lower compared to other online casinos, one of the reasons that make it the best Bitcoin casino to play at. In addition, if you’re just starting out, you can play their online casino games for free, with the exception of live dealer games. All you have to do is select the “fun mode” option on their slot games or table games and you’ll get to try your hand without any wagering.

Customer support in multiple languages

Bitcasino offers customer support around the clock in multiple languages. Apart from English, their customer service agents can help you in nine other languages: Japanese, German, French, Portuguese, Russian, Chinese, Spanish, Thai and Korean. You can also customize their website to these languages.

Their support is truly world-class as you can get answers to your questions instantly at any time through their 24/7 live chat. There’s also a Help Center where you can access popular FAQs, along with an email contact form for you to contact them.

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Fast deposits and withdrawals

Deposits and withdrawals at Bitcasino are well known for being fast and easy compared to other online casinos.

Deposits can be done in two ways, either by using your phone to scan a QR code or copying and pasting a cryptocurrency address into the wallet you have. For Bitcoin, there’s also the option of buying it online through their website using BTCXE.

Similar to deposits, withdrawals are quick and simple. Simply copy and paste your wallet address, choose the amount you’d like to take out and click withdraw.

With over 2,000 slots alongside table games and live dealer casino games as well as fast payouts and no wagering requirements on winnings, it’s clear that Bitcasino tries their best to live up to their motto of “Fun, Fast and Fair”.

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XRP Price Surged 118% Over Last 30 Days Ahead of Flare Token Airdrop

The price of the third-largest cryptocurrency by market capitalization, XRP, has surged over 118% in the last 30 days ahead of a major token airdrop set to occur on December 12, which will reward XRP token holders with Spark tokens.

According to CryptoCompare data, the price of XRP went form about $0.2455 per coin while it is currently trading at $0.541. The price of the cryptocurrency hit a yearly high earlier this month at $0.75 but faced a steep correction along with the rest of the crypto market after BTC failed to hit a new all-time high.

The third-largest cryptocurrency currently has a market cap of $24.67 billion based on a circulating supply of 45.34 billion XRP, out of a total supply of 100 billion tokens. Its market capitalization means it makes up about 4.85% of the cryptocurrency space, behind Ethereum’s 11.49% and Bitcoin’s 62.47%.

Data from Ripple shows that the XRP network often confirms close to and over one million transactions per day, with its peak coming in October 2019 when up to 4.5 million transactions were confirmed in a single day. In comparison, the bitcoin network confirms on average 300,000 transactions per day.

The price of XRP may have outperformed most other cryptoassets over the last 30 days thanks to the upcoming Spark token airdrop. On December 12 the Flare Network, a partner of XRP’s biggest player Ripple, will take a snapshot of the blockchain and distribute 45 billion out of a total of 100 billion Spark tokens to XRP holders.

According to Flare most top cryptocurrency exchanges – including Bithumb, Binance,Crypto.com, and KuCoin – will support the airdrop, which means users holding XRP on these platform at the time of the snapshot will be awarded their Spark tokens. Per Flare, it’s also possible for users to move their funds into self-custody to get the tokens.

The new network claims to be the world’s first “Turing complete Federated Byzantine Agreement (FBA)” network. The new platform will integrate the Ethereum Virtual Machine (EVM) and use a layered protocol to enable trustless issuance and redemption of XRP on Flare (FXRP), as opposed to deriving safety from a token. 

Featured image via Pixabay.

Bitcoin Consolidates Below $17,000 as Analysts Mull BTC Bull Run May Not Be Over

The price of bitcoin has been consolidating below the $17,000 mark after dropping abruptly from $19,2000 earlier this week, but analysts have been weighing in whether the bull run is over or not: most appear to believe it still has legs.

CryptoCompare data shows that BTC is currently trading at $16,800 after losing 1.4% of its value in the last 24 hours.  Over the last 12 months, the cryptocurrency is notably still up by 123% as it only breached the five-figure mark in late July.

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Cryptocurrency traders have, on social media, been looking into the price of the flagship cryptocurrency and using technical indicators weighed whether the bull run that saw it come close to its previous all-time high was over or not.

The fundamentals behind BTC’s upward price movement this year, according to John Kramer, a trader at crypto trading firm GSR, appear to still be there. Speaking to Business Insider he said that while a “cooldown is to be expected” there are “more well-known fund managers and institutions re-examining their Bitcoin theses every day, it’s getting harder to not take the asset more seriously.”

Peter Brandt, the technical analyst who called bitcoin’s 84% correction back in 2017, revealed he believes the price of bitcoin may correct further, adding the price didn’t reach its top.

If so, bitcoin’s price could still surpass its previous all-time high near $20,000, which was seen back in December 2017. Another cryptocurrency analyst, known as “Cred” on social media, pointed out that overnight leveraged positions going long on BTC “got crushed.”

Cred added this led to a “drastic reduction in open interest,” but pointed out that while “levels aren’t great up here” he is willing to keep on adding BTC to his portfolio as it falls to $16,000. If that level fails to hold, he said, $13,800 is to be considered.

It’s worth pointing out that around $13,000 was the top of the level in the previous bitcoin rally back in June 2019. That level could now be acting as support for the price of the flagship cryptocurrency.

Another popular pseudonymous crypto trader, going by “Salsa Tekila” noted that he has “green light” to buy bitcoin is it goes back above $17,500.

Presumably, the trader believes that if BTC surpasses that mark it will keep on going up to test its previous all-time high.

Featured image via Pixabay.

$103 Million Liquidated on DeFi Protocol Compound After DAI Price Rise

A total of $103 million were liquidated on popular decentralized finance protocol Compound after a sudden rise in the price of the DAI stablecoin on Coinbase Pro saw some loans become under-collateralized.

After what appears to have been an error or malicious attack, the price of the dollar-pegged stablecoin DAI surged on Coinbase to $1.30 – a 30% premium.  The price rise saw some loans on Compound become under-collateralized and given the platform’s rules, were liquidated.

Compound is a lending and borrowing DeFi protocol. Users can lend out funds to earn interest and take out loans if they post enough collateral to cover the funds they get. If a user borrows $100 in a cryptocurrency, they must have more funds as collateral. With the price of DAI rising to $1.3, some loans were considered under-collateralized and were liquidated.

On social media Robert Leshner, founder of Compound, revealed that only 124 addresses out of 225,793 were affected, and that “all markets are healthy.”

In a post, Leshner wrote that the “protocol and price feed performed as designed,” as real trading on one of America’s largest cryptoasset trading platforms was used to “aggressively reduce the risk of borrowers in the protocol,” and added that what was unexpected were the adverse market conditions.

The DAI market on the platform, he said, has 1.6 million DAI supplied and 1.3 billion DAI borrowed and grew more rapidly than anticipated. The market on Compound “eclipses both the underlying DAI market, the liquidity on exchanges, and the global trading volume of DAI by a vast margin.”

Alex Svanevik, CEO of on-chain analytics firm Nansen, pointed out the liquidations affected the third-largest COMP farmer on Compound, who lost $46 million.

Outlining potential next steps Leshner pointed out the protocol could modify DAI market parameters to include a borrowing cap and reduce the size of the DAI market in it, or to modify the DAI price feed.

On social media, several users criticized Compound for relying on the price of assets on a centralized trading platform, instead of using multiple sources of information.

Featured image via Pixabay.

Popular YouTuber Andrei Jikh Invested $100,000 in Bitcoin and Ether

Popular YouTube personality and content creator Andrei Jikh claims to have invested $100,000 into bitcoin and ether. 

Jikh, whose personal finance YouTube channel has nearly a million subscribers, says he has already doubled his initial crypto investment thanks to the meteoric price rally that took bitcoin near its last all-time high of $20,000.

Jikh said he owned 7.5 BTC (worth $145,000) and 120 ETH (worth $72,000) for a total of $192,000 at the time the video was published. The popular YouTuber claimed to have an initial investment of $100,000, generating nearly 100% in profit through crypto-asset trading. 

Jikh also revealed he made his investment through the Winkelvoss twins’ cryptocurrency exchange Gemini, and lauded the platform for its security. 

He said, 

[I’ve] been using them forever and because they keep 95% of their currencies in cold storage and they are regulated by the book.

He continued saying he was sending his crypto-assets to lending platform BlockFi to earn up to 8.6 in annual percentage yields on his coins. 

He said, 

I also use BlockFi because they are backed by some of the biggest players in the industry, like Winklevoss Capital and Coinbase.

Jikh said he was inspired to invest in bitcoin after reading about MicroStrategy’s $425 million BTC investment and Grayscale’s announcement of holding more than $10 billion in crypto-assets. 

Featured Image Credit: Photo via Pixabay.com

Major Australian Firm Pendal Group Trading Gold for Bitcoin

Major Australian investment management company Pendal Group is reportedly investing in bitcoin and calling the cryptoasset superior to gold. 

According to a report by the Australian Financial Review,  Pendal, which has a market capitalization of $1.6 billion on the Australian Stock Exchange (ASX), has begun investing in bitcoin futures contracts through the Chicago Mercantile Exchange.

The investment firm cited the superiority of bitcoin over gold and said a number of clients had begun asking about investing in BTC. 

Pendal Group’s head of bond, income, and defensive strategies Vimal Gore said, 

We have been positioning in gold for our clients for many many years now. Now we’re doing it with bitcoin.

Gore continued, saying high-net-worth clients and wholesale investors have led the charge in cryptocurrency interest, despite large institutions remaining on the sidelines. 

He continued, 

All the big hitters in the hedge fund world are coming out to endorse bitcoin now; it is entering the realm of the mainstream.

In August, Gore explained to business channel Ausbiz that gold is a “negative-yielding asset” while bitcoin is more transferable and a “call option” on the digitalization of the world. 

Featured Image Credit: Photo via Pixabay.com

‘Rich Dad Poor Dad Author’ Robert Kiyosaki Says Bitcoin Price ‘Going to the Moon’

On Thursday (November 26), Robert Kiyosaki, the highly successful author of the “Rich Dad Poor Dad” series of personal finance books, gave his latest thoughts on three inflation hedge assets he is fond of—silver, gold, and Bitcoin.

Rich Dad Poor Dad“, which is one of the top 10 personal finance books of all time, “advocates the importance of financial literacy (financial education), financial independence and building wealth through investing in assets, real estate investing, starting and owning businesses, as well as increasing one’s financial intelligence (financial IQ) to improve one’s business and financial aptitude.”

At various times during the current COVID-19 pandemic, Kiyosaki has been criticizing the Federal Reserve’s response to the resulting economic fallout and strongly urging his large following on social media platforms to protect themselves from what he feels is inevitable high inflation (and possibly hyperinflation) in the future by using their fiat holdings to buy silver, gold, and Bitcoin.

Episode #263 of Anthony Pompliano’s “Pomp Podcast”, which was released on April 7, featured an interview with Kiyosaki.

During this interview, Pompliano (aka “Pomp”) asked for Kiyosaki’s thoughts on “traditional inflation hedge” assets.

Kiyosaki said:

“Gold and silver are God’s money. Bitcoin is open source people’s money.”

Well, around 01:57 UTC on November 26, Kiyosaki assured his 1.4 million Twitter followers that Bitcoin is “going to the moon”, and told them to also consider buying more silver if its price (currently, $23.29 per ounce) falls to $19 and more gold if its price (currently, $1,814.60 per ounce) hits $1,750:

Although Kiyosaki likes all three of these assets, he still acknowledges that Bitcoin is vastly outperforming both silver and gold:

Back on August 8, when Bitcoin was trading around $11,770 and gold was trading around $2,032 (i.e. near its all-time high), he kind of predicted that Bitcoin would turn out to be the “fastest horse”:

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

Crypto Analyst Says BTC Withdrawals From OKEx Not Responsible for Fall in Bitcoin Price

After the price of bitcoin dropped over 10% to $17,200 from a near all-time high, Ki-Young Ju, CEO of on-chain analytics firm CryptoQuant and popular crypto analyst, has revealed he believes bitcoin withdrawals being reenabled at popular exchange OKEx were not behind the price drop.

On Twitter, Ki-Young revealed that as soon as withdrawals were reenabled on the exchange some started trying to leave it, and started withdrawing their funds. In some cases, in a bid to change their BTC for other cryptoassets that could support faster transactions.

In a follow-up tweet, Ki-Young added that some crypto hedge funds may be sending in BTC or USDT to take advantage of possible arbitrage opportunities on the cryptocurrency exchange, but noted that the “huge amount of withdrawals to non-exchange wallets” could bring “less supply on exchanges,” which would mean less selling pressure is on the price of BTC.

The analyst then added he believes we’re in the third scenario, with 84% of total outflows moving from OKEx going to non-exchange wallets.

Instead, analysts believe the price of bitcoin dropped as cryptocurrency investors cash in on the recent bull run that saw BTC move from little over $10,000 to $19,000 in a few weeks. Speaking to Business Insider John Kramer, a trader at crypto trading firm GSR, kept a bullish point of view.

Kramer said that it feels more like “we’re hitting a Bitcoin tipping point” as while a “cooldown is to be expected,” well-known fund managers and institutions are “ re-examining their Bitcoin theses every day, it’s getting harder to not take the asset more seriously.”

The traded added that many investors feel like the stock market is “utterly divorced from the economic reality right now,” which could have been supporting bitcoin’s rally over the last few weeks. Kramer added:

The stimulus response to the pandemic has stoked lingering concerns among several large asset managers about the devaluation of the US dollar, shining a light on Bitcoin’s finite supply.

Per his words, the “risk-return relationship for digital assets” is now uniquely attractive as it’s uncorrelated to “wider macro and increases the diversification of a traditional portfolio.”

As the price of BTC fell, so did that of most top cryptoassets including BCH, XRP, LTC, LINK, TRX, EOS, and others. Most saw double-digit percentage losses, up to 5% in the case of Stellar (XLM). Market data shows the cryptocurrency space as a whole lost around $70 billion.

Source: Yahoo Finance

OKEx’s native token OKB, which would be expected to have dropped sharply following the outflows from the cryptocurrency exchange, dropped in line with most top cryptocurrencies, going from about $5.8 to $5.3 at press time, according to CryptoCompare data. In the last 30 days, the token is still up around 13%.

Source: CryptoCompare

In a separate tweet, Ki-Young revealed that inflows to other cryptocurrency exchanges were behind the price drop, but noted that “long-term on-chain indicators say the buying pressure prevails.” The analyst assured his followers he believes it’s still possible to “break 20k in a few days.”

Featured image via Unsplash.

Bitcoin Whale Population Hits All-Time High as Large Holders Keep Accumulating

The number of large Bitcoin holders, dubbed “whales,” has hit a new all-time high as data shows that while those with smaller holdings have started selling at different price points, BTC whales kept on accumulating.

On-chain market analysis firm Glassnode has revealed on Twitter that the number of bitcoin whales, defined as entities that hold at least 1,000 BTC ($17.2 million at press time) in their wallets, has hit a new all-time high after more than four years.

Glassnode’s data shows there are less than 2,000 Bitcoin whales, even though the figure is now at an all-time high after surpassing its previous high in June 2016, which occurred ahead of the bull run in late 2017. Before the 2016 high, the number of entities with over 1,000 BTC on their addresses kept on steadily rising.

The number of bitcoin whales going up this year could be related to the cryptocurrency’s significant price drop in March, during the so-called Crypt Black Thursday, in which BTC’s price plunged by about 50% to little over $3,000, a figure that hadn’t been seen since December 2018.

Growing adoption and PayPal’s new service that lets users buy, sell, and hold cryptocurrencies on its platform could also have contributed to the rise in BTC whales. PayPal’s service is for now only available to users in the U.S. and supports BTC, BCH, LTC, and ETH but represents growing demand.

According to a website tracking bitcoin’s use in corporations’ treasuries, 15 publicly traded firms now have exposure to BTC,  and some have seen their investments appreciate significantly since they bought the cryptocurrency.

Data from on-chain analytics firm Santiment shows that while smaller holders have been selling their bitcoin during the recent bull run at various price points, whales are still accumulating.

The whale population isn’t the only one growing in the bitcoin ecosystem, data shows, as Glassnode also pointed out in a separate tweet that the number of BTC addresses that hold at least 10 BTC, worth $173,000 at press time, has reached a four-month high of 154,720.

Featured image via Pixabay.

CNBC Asks MicroStrategy CEO Why His Firm Holds So Much Bitcoin

On Wednesday (November 26), Michael J. Saylor, Co-Founder, Chairman, and Chief Executive Officer of Nasdaq-listed business intelligence company MicroStrategy Inc. (NASDAQ: MSTR) explained why his firm is HODLING so much Bitcoin.

On August 11, MicroStrategy announced via a press release that it had “purchased 21,454 bitcoins at an aggregate purchase price of $250 million” to use as a “primary treasury reserve asset.”

Saylor’s latest comments about Bitcoin came during an interview with Melissa Lee, host of CNBC’s post-market show “Fast Money“.

Lee first asked Saylor why he had decided to invest his company’s cash in Bitcoin. Saylor replied:

“Well, the story here is due to the rapid expansion of the monetary supply by the central banks, the cost of capital has tripled from 5% to 15% over the past year, and if we look out over the next four years, bond couponsand EPS growth rates are going to need to exceed that hurdle in order to preserve wealth.

“We had $500 million of cash, but we new we were going to generate another $500 million worth of cash, and we realized that if we held it in cash, it was going to debase by 10–15% a year, and I didn’t want to lose half of it.

“So, what isn’t so well understood is the Bitcoin is the best safe haven treasury reserve asset in the world right now, and it’s engineered to be superior to gold in all aspects. So, that that being the case, a lot of people understand the asset story of Bitcoin — it’s up a 100% annually each year for the past decade more or less.

“What they don’t understand is that Bitcoin is a monetary network, and as a monetary network, it’s capable of storing and channeling energy over time without power loss. So, we got really excited about this idea, and we saw it as a solution for the store of value problem, not just for the $300 trillion of capital in the world, but for the 7.5 billion people on the planet, and so that pretty compelling.”

Lee then wanted to know if MicroStrategy of today is a software company or a Bitcoin hedge fund, i.e. why is MicroStrategy bothering to continue with the business intelligence software business if he really believes that the price of Bitcoin is going to continue going up 100% annually.

Saylor answered:

“Well, first of all, we do have a software company generating cash, but if we simply swept the cash into fiat currency and it debased 15% a year, we’d be losing as much on the balance sheet as we generated from the P&L.

“So that didn’t make sense. On the other hand, the traditional concerns about Bitcoin had been that it might be hacked, it might be copied, it might be banned, and after a decade, it hasn’t been hacked, no one’s managed to copy it, [it] is not going to be banned. So, although people look at it as being volatile, it’s volatile maybe in the first decade; the next decade going forward, it doesn’t look like it’s going to be that volatile.

“It actually looks like it’s emerging as the primary treasury reserve asset for people who are looking for some way to avoid the great monetary inflation.”

Lee then wanted to know if it did not make sense for MicroStrategy “for portfolio mnagement purposes” to be more conservative by trimming the size of its BTC position.

Saylor said:

“Well, luckily, we love the enterprise business intelligence business and we want to be in it, but we don’t want to decapitalize the company by drawing our treasury to zero, and we don’t want to allow our treasury to be debased by 10–20% a year either; so we have to do something.

“I think that as investors start to understand the Bitcoin story, they’re going to migrate their capital on the Bitcoin network, and that’s going to create a virtuous cycle of adoption followed by price appreciation followed by value accretion followed by technology integration from companies like Square and PayPal. It will be Apple and Google shortly. That’s gonna drive more adoption, and that means that you really want to plug your company into the Bitcoin monetary.”

Lee then went back to one of her previous questions, and asked Saylor once again if MicroStrategy is a software company or a Bitcoin hedge fund.

Saylor replied:

“Our P&L is a software company, and we sell the world’s best enterprise business intelligence software. Our balance sheet is no longer invested in dollars; our balance sheet is invested in BTC because we believe that’s the best treasury reserve asset we could choose in the world.”