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The Bets Are on Blockchain: 1xBit

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1xBit

Cryptocurrency has been embraced as a form of payment by various industries and brands. To the joy of crypto enthusiasts that have a knack for wagering, the sports betting scene has also taken a like to digital currencies.

A former fiat sportsbook, 1xBit, converted to Bitcoin payments, instead of just adding the coin to its list of currencies. The platform has the most versed and extensive list of sport and events in the crypto betting market. But this is not a Bitcoin-only bookie, as it’s supporting deposits and withdrawals in more than 20 other coins such as Ethereum, Litecoin, and Monero. Each sport features an abundance of betting categories.

In addition to the plethora of sports and betting options, users are also able to live bet on various events. 1xBit features an online casino, virtual games and a lottery, which makes it a versatile platform for any kind of player that wishes to try out his luck or skill by wagering on sports, events, or games.

New UFC Section Now Available on 1xBit

The platform is divided into various betting sections according to the sport of interest, and the latest member to join the family is a section dedicated entirely to UFC. Ultimate Fighting Championship (UFC), a renowned mixed martial arts promoter, has spread even further. This expansion includes TV channels and is reaching entirely new markets in Australia, Asia, Europe, and the UnitedStates. UFC has garnered a great deal of mainstream media coverage for its top fighters and matches. It has attracted the attention of both media and sports fans.

Taking into account this increase, 1xBit created the section to cater to the betting needs of UFC followers.

Blockchain Getting Bookies into Shape

Wagering platforms are not always seen as trustworthy or fair by the general community. This is because, in several instances, they have been proven to be unfair and greedy to the point of manipulating the players through fake odds and stats to intentionally make them lose.

Bookies that use distributed ledger technology through the implementation of cryptos can provide a solution to the issues of unfairness and deceit.  Crypto transactions are always recorded on their respective chains, and all the stored data remains there forever, without the possibility of ever being modified or deleted.

Slow transactions can also be remedied by incorporating DLT, as cryptocurrencies midway third parties for financial settling are not in the equation.

The sign-up process with traditional bookies is long, tedious and involves revealing personal information. But registering for an account on 1xBit is the complete opposite. In order to create an account on the platform, the user just has to provide an email address and select the preferred currency account. The are no personal details, no long forms or complicated verification times. Just one click and a password and the user ID will be generated and sent to his/her email.

By enabling the two-factor authentication feature for their account, users do not have to worry about security breaches.

Blockchain can bring a great number of advantages and improvements to a number of problems which are currently in the betting industry.

Crypto Advertising in Sports

Crypto projects first started to branch out by partnering with brands and companies that were somehow close to the technological sector. But why remain confined to only one audience? The world of sports welcomed digital coins and their adoption movement.

Last year, the Litecoin Foundation paired with Ultimate Fighting Championship (UFC) in order to increase the coin’s market visibility. This partnership made Litecoin the first cryptocurrency to be included in a UFCfighting ring. Litecoin’s contribution to the UFC scene for this year involved sponsoring Ben Askren, a UFC 235 fighter.

1xBit covered in its blog post a similar case on this topic which took place on February 23rd. The Stratis blockchain project offered to sponsor boxer James DeGale in his match for the Super-Middleweight award. Stratis (STRAT) is a platform which is specialized in offering services needed to create and deploy decentralized apps (dApps) for private blockchains.

The blog features a news section for those interested in the latest happenings in blockchain and sports, as well as guides that offer help for various setups or bets.

UFC fans which are also crypto enthusiasts can access the 1xBit site to find out more or to place a bet on their number one contender.

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Campden Wealth Partners with GDA Group to Enter Digital Asset Markets

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Blockchain conglomerate GDA Group joins as Campden Wealth’s newest Corporate Partner for 2021. Based in Toronto, GDA group provides access to all verticals of the crypto capital markets to institutions and private investors. The two institutions once operated on different verticals, so the partnership indicates a new era of portfolio allocation and asset diversification. Digital assets, including bitcoin, are becoming a vital component of modern investment strategies. GDA Group provides multiple avenues for digital asset exposure, including trading services through their institutional trading desk Secure Digital Markets, including non-recourse lending up to $100M through GDA Lending, and private placements through their capital markets arm GDA Capital

“Institutions have spent a decade on the sidelines, evaluating the risks of this burgeoning sector. Now, in less than 6 months we have seen billions in institutional and private capital enter the space,”  says James Godfrey, FX and International Banking Advisor to GDA Group. “Our relationship with Campden will illustrate the maturation of this industry and where we are headed next. New stakeholders will need experience, resources and insights to navigate this new market and evaluate upcoming opportunities.”

 “The Campden Community is constantly balancing the needs of wealth creation for the future, with wealth preservation…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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