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Crypto For Daily Use. Gambling
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Another real-life application for cryptocurrency is gambling. Right now there are many online casinos for playing classical games with digital coins: Bitstarz, Fortune Jack, CloudBet, mBit, BitCasino and others.
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If you think that gambling and crypto is a perfect match because they both serve obscure purposes, you are totally wrong here. Bitcoin and other virtual currencies make casino business more transparent, user-friendly and respectable.
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Let’s see what advantages crypto casinos have over the traditional ones.
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First, gambling with crypto offers a high level of anonymity. Top-secret coins like Monero are among the favorites here, because they let users keep their losses and gains secret.
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Second, blockchain technology guarantees the game is fair, as every user can see if the outcome of the game was affected by a casino or other players. Each bet placed can be instantly checked and verified on the website. Playing fair is good for both parties - the clients are sure that winners are chosen in a random way, and the casino keeps its reputation impeccable and therefore attracts more people.
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Third, crypto casinos offer better odds to its players. A traditional establishment extracts money from its clients by means of so-called House Edge, or Casino Advantage. It means the house always takes its fixed share. House edge depends on the game you play but normally varies between 1 and 15% (!) in regular casinos and 0.5 and 3% in crypto casinos. Some of them go further - they launch their own tokens and feature zero house edge! In this case the casino wins, too, but in a different way - the more people are involved into gambling, the bigger is the demand for the casino’s token, and the higher its price.
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Finally, gambling with crypto might be a good option for risk-takers who cannot use a traditional casino because in their country gambling is illegal, or restricted.
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In late January 2019, the Jamaica Stock Exchange (JSE) ran a successful live trading pilot of digital assets. Working with Canadian fintech firm Blockstation, the JSE plans to introduce trading of digital currencies and tokens on the stock exchange. Jamaica and Blockstation are continuing to work on building out the ecosystem for trading digital assets and tokens.
We have posted about a number of other major stock exchanges looking into starting a cryptocurrency and digital asset exchange platform. Jamaica is just another domino in a large financial revolution.
@CryptoCrunchApp - PayPal (PYPL) Makes Its First Blockchain Investment.
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PayPal (PYPL) has joined the Series A round for Cambridge Blockchain, a digital identity enterprise software provider, marking the company’s first official investment in the blockchain space. According to a recent press release, the investment comes as an extension of Cambridge Blockchain’s Series A, with PayPal joining Omidyar Network and Flourish, in addition to original participants Partech Partners, Future\Perfect Ventures, Foxconn’s HCM Capital and Digital Currency Group. .
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Read more: CryptoCrunchApp.com .
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Great news for the Brits as the Pound continues its 3 day rally!
Read more in our market recap here:
https://www.everythingfx.com/The_pound_jumps_as_HoC_agrees_to_prevent_no_deal_Brexit-912-forex-market-news
Link to this is also in our story!
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