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How to play games with crypto? Beginner’s guide

George Miller

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How to play games with crypto? Beginner’s guide
Reading Time: 3 minutes

 

Investing in cryptocurrencies is still a very attractive option to make money. Although we are already nearing the end of 2018, the party is still young. It will take a long time before the average John Smith will know how to play “games” with crypto. But in this article, if you’ve been such a typical John Smith so far, today you can see how to start your adventure with cryptocurrencies.

Investing in crypto is definitely not a new form of gambling but as you’ll quickly notice, using exchange sites looks a bit like playing games, you predict the price of a cryptocurrency at the given moment just like at the prediction market like Fairlay which is why we decided to name this article this way. We hope you’ll easily understand our introduction on how to play games with crypto!

Step 1 – Choose exchange site

To play games with crypto – first what you need to do is to choose exchange site. In this place, you buy Bitcoins or another crypto currency available there. You simply change “real” money like dollars, euros etc. for the virtual currency.

We will not suggest specific currency changers in this article. However, remember first of all to pay attention to omitting huge fees that can “eat” a significant part of your investment.

Step 2 – Purchase

In each of the money changers, the purchase looks similar. Usually, you choose the “buy bitcoins” option and give the amount for which you want to buy them. You can choose any amount – probably when starting to play games with crypto you’ll start with a small amount, so your balance will look for example like this: 0.00456245 BTC. When you buy, you usually have many options to choose from: it can be both a transfer and a card payment. After a short time – few minutes or hours – you will see your Bitcoins (or other virtual currency) in your wallet.

If you bought Bitcoins and you want to keep them, you do not have to do anything more. However, if you want to exchange them for a different currency, read Step 3.

Step 3 – Stock exchange selection and registration

To buy another crypto – you must register at one of the stock exchange sites. Each site has different exchange rates of particular currencies, has the ability to buy some other cryptocurrencies, or has another – less or more comfortable – interface.

When starting to play games with crypto, do not worry about complex security features like Google Authenticator, or verifying your IP. They are designed to protect your money.

Choose your stock exchange site wisely by taking into consideration the above mentioned factors and doing the right research on the Internet.

Step 4 – Sending your Bitcoins

To trade a crypto – you must now transfer the previously purchased Bitcoins to the wallet assigned to your account. To do this, search your wallet in your cantor and then choose the “send bitcoins” option. Within a dozen minutes or a few hours you should have BTC on the stock exchange site.

Step 5 – Purchase of other cryptos

Once you have BTC, you find the crypto that interests you (usually on the main page using the search engine). Then, you should look at the BUY window. You put there the amount with which you want to play games with crypto and how many pieces you want to buy.

Few hints on how to play games with crypto

Remember that this is a stock exchange, so you set the price yourself, and with each exchange, you pay a fee. Therefore, it is not worth exchanging cryptocurrencies a dozen times a day.

It is worth to play games with crypto on the low rates. Looking at the graphs you see such a red, long candle and you see that the rate is lower than in the last few hours.

If you want to buy something immediately, then use the market prices, and you can even set a very attractive price, which someone will buy instantly.

You can also get familiar with trading, another way to play games with crypto. It means constant buying and selling due to reading a chart or information you get from someone.

When you buy / sell something, you have a bookmark in the stock exchange where you have your orders and transactions.

Remember that for each cryptocurrency you have different wallet address! For example, if you want to transfer BTC from one exchange to your wallet on the second stock exchange, you must use address pairs BTC -> BTC. Committing an error here can be very expensive!

How to play games with crypto? It’s still the beginning

In order to successfully invest in cryptocurrencies, you still need many skills and information, but at the beginning learn our introduction and understand the principles of registration and basic transactions. With time, everything will become simpler and simpler. We strongly encourage you to learn in practice how to play games with crypto!

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Cryptocurrency

Gambling-focused cryptocurrencies valued at more than $100m

George Miller

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Gambling-focused cryptocurrencies valued at more than $100m
Reading Time: 2 minutes

 

Cryptocurrencies dedicated exclusively to gambling have a combined market capitalization of more than $100m, according to research from CryptoGamblingNews.com.

While the cryptocurrency market has suffered a tough 12 months, investors are still backing gambling coins to the tune of nine figures.

The top 10 gambling-focused cryptocurrencies currently hold a combined value on trading exchanges of $86.7m. With dozens of other gambling coins also being traded, the total sector is worth over $100m.

The leading crypto gambling project by market capitalization of its cryptocurrency is currently FunFair Technologies, a B2B blockchain gaming platform launched by Jez San OBE. Its coins are currently valued at $29m, according to data from CoinMarketCap.com.

FunFair is followed by decentralized sportsbook platform Wagerr ($15.1m) and decentralized casino platform Edgeless ($12.5m).

The cryptocurrencies are actively traded on a number of exchanges, including the world’s largest exchange, Malta-based Binance. FunFair’s FUN token reported trading volumes in excess of $8m over the past week alone.

Despite the impressive figures, the values are significantly down on the January 2018 highs, when gambling cryptocurrencies held a combined value in excess of $1.5 billion.

A spokesperson for CryptoGamblingNews.com, the leading portal for news from the crypto gambling sector, said there are early signs of a recovery.

“The 2018 peak was fuelled by speculation, but what we are seeing now is the emergence of a handful of platforms that are finally live and accepting wagers in these cryptocurrencies. The prices have reacted accordingly as demand for the coins increases,” the spokesperson said.

“Gambling remains a key early use case for cryptocurrencies and blockchain technology. We are seeing these projects implementing some fantastic features that are simply not possible with fiat currencies, such as provably fair games, full decentralization and near-instantaneous withdrawals.”

Gambling-focused cryptocurrencies are distinct from the broader crypto gambling sector, where Bitcoin remains dominant.

By some estimates, around half of all Bitcoin transactions are gambling related, with billions of dollars’ worth of Bitcoin gambled each year.

However, while Bitcoin operates simply as an alternative payment method, projects such as FunFair, Wagerr and Edgeless have built entire platforms upon blockchain technology.

CryptoGamblingNews.com is the world’s leading portal for crypto gambling, visited by thousands of industry professionals, crypto traders and players every month.

 

About CryptoGamblingNews.com:

CryptoGamblingNews.com is the world’s leading portal for crypto gambling, visited by thousands of industry professionals, crypto traders and players every month.

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Kriptomat adds Zimpler as a payment option in Sweden, Finland and Germany

George Miller

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Kriptomat adds Zimpler as a payment option in Sweden, Finland and Germany
Reading Time: 2 minutes

 

Zimpler continues their foray into the cryptocurrency market by going live with the Estonian crypto exchange Kriptomat. The fundamental idea behind Kriptomat is to bring cryptocurrencies to every household. The focus is on the simplicity of service and making sure that the users truly understand what they are doing.

“We are thrilled to get the opportunity to improve the payment experience for Kriptomats mobile customers. Kriptomat distinguishes themselves in the cryptomarket by their focus on simplicity and mainstream users. Which is amazing, because it’s such a neat alignment with Zimpler and our values”, says Jonas Persson, VP Sales at Zimpler.

Dejan Davidovic, CBDO and co-founder at Kriptomat adds
“We are at a point where classical currencies and cryptocurrencies meet, and the logical step was to introduce payment methods to make that process even more fluent. The first new payment method we chose to add is Zimpler from Sweden. Like Kriptomat, they are an innovative, trusted, secure and user-experience oriented fin-tech service. Their on-boarding process is one of the easiest I’ve seen so far and it was a logical step for us to integrate with them. People from Sweden, Finland and Germany can now enter the world of cryptocurrencies even easier, using the integration of two user trusted partners.”

Kriptomat offers 30 cryptocurrencies in pair with euro and their service is available in 20+ languages.

About Kriptomat:

Kriptomat is one of the best cryptocurrency platforms to buy, sell and store your favourite digital currencies. Designed for non-tech savvy people focused on introducing the benefits of cryptocurrencies to a wide audience.

Trust, security, and transparency are three of our core values, which is why we hold operating licenses issued by the Financial Intelligence Unit for providing services of exchanging a virtual currency against a fiat currency (License No. FVR000079) and providing a virtual currency wallet service (License No. FRK000060).

Kriptomat is a web platform, and it is available as a mobile app for Android and iOS. Kriptomat is a self-funded company and plans to open for investments in 2019.

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Cryptocurrency

With the online gambling credit card ban hovering in the UK, what are the options?

George Miller

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With the online gambling credit card ban hovering in the UK, what are the options?
Photo Source: Dmitry Moraine on Unsplash
Reading Time: 4 minutes

 

In March 2018, the UK Gambling Commission stated that it would consider banning the use of credit cards at online gambling websites. The announcement of a potential credit card ban came following the gambling authority’s report into how to make online gambling safer, deeming the removal or restriction of credit card payment options being a viable course of action to help restrict the possibility of people accruing gambling debts or gambling more than they can afford. The UK Gambling Commission found that between ten and 20 per cent of all deposits made to gambling websites are done so via the use of a credit card, which means that as much as one-fifth of online betting and gaming in the UK is being done with borrowed money. The problem is exasperated when it is considered that most credit card companies treat transactions to gambling websites as treat cash advances, which do not come with an interest-free period, entail a higher interest rate, and often incur a handling fee.

The culture secretary, Jeremy Wright, intends on holding meetings between major retail banks and online gambling operators to discuss the concern that as much as 20 per cent of deposits to gambling sites are made with credit cards using money that the players don’t own. The UK Gambling Commission seeks clarification on the statistic. They will be launching a call for evidence in February and are welcoming suggestions from the Responsible Gambling Strategy Board, which may result in increased credit card regulation or a complete credit card ban.

Up to one-fifth of online gamblers in the UK use credit cards to place deposits at online gambling websites. It appears to be very likely that the UK Gambling Commission will regulate a credit card ban, which will lead to a large number of players needing to adopt a new payment method. Online gambling websites that offer their services in the UK often accept many different payment methods, so those who are expected to soon be without their preferred method of making a deposit or withdrawal should be able to find another option which is safe and suits their needs.

Gamblers’ other options in the instance of a credit card ban

The vast majority of online gambling websites allow for the use of credit cards as a means of making deposits, and some allow for the method to be used when making a withdrawal, but not all sites will accept the entire range of other payment methods or payment services. The acceptance of specific e-wallets, instant banking methods, cryptocurrencies, payment gateways, and pre-paid cards is at the website’s discretion, so those looking for a new service with which to make payments will need to check which services can be used at each website as well as if the website allows for both deposits and withdrawals through the same service.

One of the more traditional methods is that of the bank transfer. Some players perceive the method as unsafe due to the assumption that the transfer would reveal bank details, but bank transfers do not disclose this information and also allow players to deposit very large amounts. The downside to the payment method is that it takes much longer than other methods, with players often waiting several days before the funds appear in their gambling account. Wire Transfer allows users to make deposits and withdrawals at some online gambling websites, and iDeal caters for bank transfer deposits.

The most modern method which is also deemed to be the safest due to its use of blockchain technology is that of making a cryptocurrency payment. Cryptocurrencies have become popular over the last couple of years, leading to many online gambling websites allowing for the use of different forms of crypto. Due to the decentralised nature of cryptocurrencies that utilise the public ledger system of a blockchain, users trust that their crypto and details are safe with each transaction. Crypto is tamperproof, safe, fast, cheap, and it removes the middleman between the player and the operator. The most commonly used of the cryptocurrencies is the blockchain originator, Bitcoin, but others such as Ethereum and Litecoin can also be used as payment methods. Cryptocurrencies could become the next choice for current credit card users following the news that Binance, one of the world’s largest cryptocurrency exchanges, is now accepting credit cards for crypto payments, creating a way for players to use their credit cards via cryptocurrencies at online gambling websites that accept the payment method.

At online gambling websites and across online shopping websites, e-wallet services have become commonplace, and many people who are looking to make payments online seek vendors who offer e-wallet payment services, particularly if said customers are worried about the safety of their bank details. E-wallets allow for payments from the e-wallet account or directly from a bank account online without the need to input bank or card details. PayPal is the most popular e-wallet service in the UK, with the vast majority of online gambling sites that allow for the payment method accepting it for both deposits and withdrawals. Other services such as ecoPayz, Skrill, and Neteller are also popular, but it’s more common for online gambling sites to not allow withdrawals to these e-wallet services.

People seeking alternative payment methods, should the credit card ban come into force, can also turn to pre-paid cards like PaySafeCard, electronic fund transfers through the use of debit cards or e-checks, and payment services providers like Instadebit.

The UK Gambling Commission is expected to publish its new strategy concerning the use of credit cards on gambling websites in April; the authority looks set to ban the popular payment method, so current users will need to find a new way of making deposits and withdrawals at online betting and gaming sites.

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