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The Effects of Cryptocurrencies On The Gambling Industry

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Cryptocurrency and gambling are two industries that have seen rapid growth in recent years. Blockchain technology has had huge effects on a wide range of industries. Gambling is now seeing a transformation as the growth of cryptocurrency enters the industry.

Payment system

Using cryptocurrencies is now a payment method available on new online casinos and betting sites. However, most of the established betting sites, for example, https://www.unibet.co.uk/bettingare yet to offer the payment option to its players. With this being said, it is growing as a method and the advantages it brings mean that one day it could take over as the main payment method that we use. The benefits of this are that it allows players to gamble anonymously and they can also play without having to create an account and send in any personal data to get their account verified. Another advantage for the gambling sites is that using the blockchain for the payment means there aren´t the fees associated with traditional payment methods, and players can also access their money much faster.

Transparency

Transactions completed on a blockchain automatically create a record that cannot be changed or deleted. This means that anybody is able to confirm that a transaction has actually taken place. Therefore, betting sites are able to show that they are honest and transparent. Anybody can view winnings and access their money easily.

Decentralised structure

Not only does a decentralized structure mean better security, Blockchain technology allows anybody to become a member of the casino itself. Some Bitcoin casinos allow their users to fund the casinos and take a share of the profits. vSlice, run through the Ethereum platform, allows token holders to receive automatic dividends from profits that are generated. Wagerhas its own Blockchain network which provides a decentralized sports betting platform, which means that each betting type has its own unique type of transaction, and Wagerr states it ensures scale when it comes to creating consensus for determining winners and losers by having bets take place on the second tier of the network.

Casinos & Betting Sites that now exclusively use their own cryptocurrency

Zero Edge is an online casino using a blockchain network, but its business model is around the growth of its own cryptocurrency rather than profits taken from gamblers. All betting on the platform is using Zero Edge’s own cryptocurrency called ZERO. There is a fixed supply of ZERO tokens, so this means as demand grows, so does the value of the cryptocurrency. Due to this, all the games on ZeroEdge.Bet have a 0% house edge, meaning that gamers have the same chance as winning as the house, unlike traditional casino gaming where the odds are heavily in favour of the house. Zero Edge is also going to offer a 0% commission sports betting exchange, where players bet on a variety of different sports worldwide.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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VOLUM (VLM) Announces Commencement of Token Generation Event

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ESTONIA, May 4, 2019 – VOLUM (the “Company”), a multi-dimensional blockchain technology holding company, is thrilled to announce the commencement of the Volum (VLM) Token Generation Event (“TGE”) beginning on Saturday, May 4. The VLM utility token is the native cryptocurrency powering the VOLUM supply chain and logistics management platform.

Driven by algorithmically intelligent software tailored to logistics and supply chain management, along with Internet-of-Things (“IoT”) integrated functionality, and a backbone of hybrid public and consortium blockchain architecture, the platform is organized around the Volum (VLM) token. The VOLUM TGE will be managed by deploying ERC20 tokens on Ethereum Mainnet to maximize future access to cryptocurrency exchanges.

The VOLUM platform operates as a comprehensive control center for supply chain and logistics management operations. Companies who use this platform will be able to carry out a wide range of blockchain transactions including: Payments, Rewards, Purchase Orders, Legal Contracts, Regulatory Compliance, Taxation, Shipment Management, Letters of Origin, Customs Documents, Inputs/Outputs and Inventory Ordering, Delivery/Parcel Tracking, IoT Monitoring and Reporting, Big Data Analytics, and Inputs and End-Product Tracking/Traceability.

“The total addressable market for a blockchain-based supply chain solution is nearly $54 trillion globally, with the majority of the world’s workers playing some part of this equation” noted Arnaldo A. Detrés, CEO of Bengala Technologies, LLC, the principle blockchain developer working to build the VOLUM platform. “However, blockchain solutions have been unable to…

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How to Secure Yourself in Relation to Bitcoin: Top VPN Services

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Nowadays, more frequently people opt to use cryptocurrency such as Bitcoin while dealing with financial transactions for its convenience, so its increasing prevalence isn’t round-of-the-mill phenomenon but still, its users need to create fully protected cooltechzone to secure their data.

Recently, a great abundance of VPNs have started to accept it as a way of payment and it definitely makes sense: one buys VPN to retain anonymity on the Web, so why not to use the privacy-focused payment method? Paying for a VPN service with Bitcoins or any other cryptocurrency secures personal data from curious eyes leaving no traces.

What is a VPN?

Virtual Private Network (VPN) is generally presented by the group of linked to each other computers via the Internet. VPN boosts protection and provides a high level of anonymity to all types of Internet connections.

Security

While the connection to the ordinary Wi-Fi networks, a user usually gets access to the Internet directly, thus he becomes vulnerable to the hackers and the malware attempting to steal his personal data. On the other hand, applying VPN one transmits and gets data in encrypted form which makes it protected.

Anonymity

Generally, isn’t hard to trace an Ip-address of any user and to identify his location with sufficient accuracy. With the help of VPN, the attacker will only get the address of the removed computer. Undoubtedly, the safeguard…

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Is it legal to gamble in Bitcoin casino?

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Bitcoin entered the world in 2009 and immediately begun a revolution on the cryptocurrency market. Presently, there are more than 700 different digital currencies, but Bitcoin still remains the most used one. However, despite the large business activity around Bitcoin, there is still no international legal law to regulate it.

Key facts on Legality in Bitcoin casinos

Laws and obligations concerning online gambling legislation vary from country to country. There are many jurisdictions that can issue gambling licenses to online casinos. But, these licenses are issued only after the online casino business meets the requirements of the chosen jurisdiction.

The necessity of Gambling License for Bitcoin casinos

In order to make it clean and clear, a reliable online casino will obtain an online gambling license. Among other things, it allows running a legal activity and assures the casino operator’s trustworthy behavior, fair gaming policy and transparency in business operations and gaming software offered to customers. A representative of this kind of casino, such as FortuneJack for example, will have good reviews and reputation, and stable business that is constantly growing and expanding throughout the years. You can also feel the stability by checking the website, and important details such as casino withdrawal time and the number of games offered for playing, as you can examine on Fortunejack.

There is a difference between Bitcoin and Bitcoin gambling legality. There are countries…

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