Binance Coin (BNB) has emerged as a highly valuable digital currency, boasting a significant market capitalization. Supported by the renowned Binance exchange, BNB has garnered attention as a preferred choice among crypto asset investors.
The Binance ecosystem encompasses various aspects of blockchain technology, with Binance Coin playing a pivotal role. It has also gained traction as a viable option for utilizing Bitcoin in casino gambling. However, due to its relatively recent surge in popularity, not all crypto casinos currently offer BNB games.
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What is Binance Coin (BNB)?
Binance Coin (BNB) is the native cryptocurrency of the Binance exchange, originally designed as a utility token. Over time, its application has expanded beyond the exchange itself. Currently, BNB serves as a form of payment for a range of services, including hotel and plane ticket bookings.
The initial coin offering (ICO) for Binance Coin took place in 2017 when it was an ERC-20 token on the Ethereum platform. During the ICO, 100 million BNB tokens were sold at a price of $0.15 each, raising $15 million. A significant portion of these funds was allocated to the development of the Binance exchange and its digital currency exchange system.
In 2019, BNB transitioned to the Binance Chain, the company’s native blockchain platform. Subsequently, it migrated to the Binance Smart Chain. Binance Coin’s price reached a new all-time high in 2021, surpassing $600, before returning to that price level by the end of the year.
The Binance website lists various ways to utilize Binance Coin, including:
- Making purchases at stores that utilize XPOS by Pundi X
- Conducting payments through Monetha merchants
- Utilizing Crypto.com credit cards for payments
- Purchasing HTC Exodus smartphones
- Receiving payments from clients using Coinpayments, Coinify, or CoinGate
- Donating to charities through the Binance Charity Fund
While many casinos accept Binance Coin, its usage extends far beyond the realm of gambling. BNB can be employed for investing, lending, exchanging, and a variety of entertainment services.
How To Choose The Best BNB Casino?
When selecting a Binance Coin casino, there are several factors to consider. One important aspect is the casino’s bonus offerings and their associated terms and conditions. It’s crucial to understand the wagering requirements for bonuses, which can be found in the bonus terms or by contacting customer support.
Additionally, pay attention to the minimum and maximum deposit and withdrawal limits set by the BNB casino. These limits can vary significantly between different casinos and may differ based on the chosen currency.
Lastly, consider the variety of game types available at the Binance Coin casino. While you may have a specific game in mind, keep in mind that your preferences may evolve over time. Opting for a casino with a wide selection of games ensures you’ll have options and can explore different gaming experiences as your interests expand.
Why deposit Binance Coin (BNB) at an online casino?
As avid players in the BNB casino realm, we understand the importance of selecting crypto wallets that offer seamless payment and withdrawal processing. For newcomers in the blockchain economy, it can be overwhelming to navigate the vast array of wallet options and receive conflicting information. That’s why we’re here to provide clarity and recommend reliable wallets that have stood the test of time.
One such reputable wallet is MetaMask, known for its trustworthiness and reliability. With over 100 million transactions processed since its inception, MetaMask has gained recognition in the cryptocurrency world. It offers a seamless experience for depositing and withdrawing funds, ensuring smooth transactions for players.
Another popular wallet choice is the Binance Wallet, which boasts an average of 120 billion daily transactions. It has become a go-to option for both gamblers and investors, thanks to its association with the Binance Network. With the ability to facilitate withdrawals and enable the conversion of funds into fiat currency or reinvestment in various commerce services such as NFTs and Coin Futures, Binance Wallet offers flexibility and convenience for users.
By utilizing these trusted wallets, players can confidently deposit their BNB at aussie online casinos, knowing that their transactions will be processed efficiently and securely.
Why is Binance Coin gambling gaining popularity?
Binance Coin (BNB) has emerged as one of the top-performing cryptocurrencies in the market, captivating the attention of both investors and gamblers alike. With its rapidly growing popularity, Binance Coin has become the go-to cryptocurrency for transactions happening every second on the robust Binance network. The surge in popularity can be attributed to several compelling factors that make Binance Coin gambling a preferred choice for many.
One of the standout features of Binance Coin is its lightning-fast transaction speed, allowing gamblers to seamlessly engage in their favorite casino games without any delays. The advanced processing capabilities and heightened security measures employed by Binance ensure a smooth and secure gambling experience, instilling confidence in players who choose to utilize Binance Coin.
An added advantage of using Binance Coin for gambling is the high level of privacy it offers. Your financial and personal information remains secure, as Binance Coins are stored in protected wallets and can be easily utilized for various banking, investing, depositing, and withdrawing activities on the Binance Exchange.
However, it’s not just the security and speed that make Binance Coin appealing. The wide array of gambling features available at online Binance Coin casinos adds to the excitement. These casinos offer a vast selection of over 1,000 cryptocurrency casino games, ensuring that players are never bored or disappointed during their gaming sessions. From thrilling video slots to immersive live casinos, there’s something to suit every gambler’s preference. Additionally, sportsbooks are also becoming increasingly popular among Binance Coin gamblers, providing a diverse range of betting opportunities.
When Binance Coin was initially introduced in 2017, its market value was a mere $0.11. However, since then, the cryptocurrency has experienced an astronomical surge of over 620,000 percent. This remarkable growth signifies the immense potential for substantial returns on investment. Imagine a $1,000 transaction made in 2017 yielding 9,000 BNB, which would now be worth over $6 million. In comparison, Bitcoin, the largest cryptocurrency by market capitalization, has seen a significantly smaller increase of less than 4 percent over the same period.
Considering the impressive features, extensive game options, and tremendous growth potential, it’s no wonder that Binance Coin gambling is rapidly gaining popularity among both seasoned and new gamblers.
Where to buy from and where to hold Binance Coin (BNB)?
Binance Coin has established itself as one of the leading cryptocurrencies in the world, and acquiring this coin is a hassle-free process. The most recommended and reliable method to purchase Binance Coin is through the Binance market. However, there are several other options available for buying BNB.
Using a credit or debit card for a bank transfer is the most common and convenient method for purchasing Binance Coin. Many individuals prefer to use their debit or credit cards to buy BNB, and as long as you choose a reputable provider, the purchase process will be smooth. Keep in mind that some cryptocurrency dealers may charge high fees for debit or credit card payments. Binance Coin can be acquired using Visa or MasterCard through the Binance platform.
Purchasing Binance Coin directly from Binance offers significant advantages beyond its utility in the cryptocurrency casino industry. Additionally, you can explore other options such as purchasing BNB from individuals through the Binance P2P exchange or utilizing various crypto exchange platforms like Poloniex or Bithumb.
If you prefer to use e-wallets like PayPal, there are online providers that accept it as a payment method to buy Binance Coin. When selecting a provider, make sure to consider the fees associated with the transaction to ensure a cost-effective purchase.
It’s important to note that you will need a cryptocurrency wallet to deposit and withdraw Binance Coins from your cryptocurrency casino account. Understanding the investing process and determining how you want to store your Binance tokens is crucial when learning how to acquire Binance Coin. For enhanced security, it is recommended to use a reputable wallet provider like eToro, which is authorized by the Financial Conduct Authority (FCA) and ensures the safety of your crypto assets.
If you purchase Binance Coin through an online provider like eToro, you can store your BNB in their in-house wallet. Even if you decide to sell your BNB, it can be easily done through your wallet. The integrated Binance wallet is regarded as one of the top cryptocurrency wallets for storing your BNB securely. Take advantage of these options to purchase and store Binance Coin, ensuring a seamless and protected experience with your cryptocurrency investments.
BNB Casino Pros & Cons
Benefits of Binance Coin (BNB)
Considering the increasing number of crypto casinos that accept Binance Coin, there should be some reasons to use this coin in casino gambling. After all, all those gambling sites usually already have enough cryptocurrency payment options with various pros and cons. Why do players want to play games using BNB then? As usual, there are several reasons why it is profitable to use Binance Coin in gambling.
Big Name
Binance Coin is closely associated with the Binance exchange, one of the most renowned and popular cryptocurrency exchanges globally. The prominence of the Binance brand adds credibility and trust to BNB, making it an attractive choice for players. The influence of the Binance exchange can also impact the price and value of BNB.
Fast Transfers
Transaction speed is a crucial factor when it comes to online gambling. Binance Smart Chain, the blockchain platform behind BNB, offers impressive transaction speeds. With an average of 55-60 transactions per second, Binance Smart Chain surpasses Bitcoin and Ethereum in terms of speed. This ensures swift and efficient fund transfers, allowing players to enjoy uninterrupted gameplay without delays.
Low Transaction Fees
Binance Smart Chain operates on a different fee structure compared to Ethereum and other blockchain networks. The transaction fees, referred to as ‘gas fees,’ are significantly lower on Binance Smart Chain. For example, sending an ERC-20 token on Ethereum can cost between $3-7, while a similar transaction on Binance Smart Chain may only require $0.4-0.6. This cost advantage makes BNB an economical option, especially for players who frequently make deposits or withdrawals.
Good Scalability
Despite the rapid growth and increasing number of applications built on Binance Smart Chain, the transaction fees for Binance Coin have remained relatively stable. This demonstrates the scalability of the network and its ability to handle higher volumes without significant increases in transaction costs. This stability is a positive sign for users, as it ensures that the fees associated with BNB transactions remain reasonable and predictable.
Drawbacks of Binance Coin
Binance Coin (BNB) has gained popularity as a viable cryptocurrency for casino gaming. However, it’s important to acknowledge that it comes with certain features that may not be suitable for everyone. While some players may not perceive these features as significant, others might see them as potential obstacles and reasons to refrain from using BNB in their casino gaming experiences.
Centralized Decentralization
Binance Coin operates within the Binance ecosystem, which has been referred to as ‘CeDeFi’ by its CEO, Changpeng Zhao. This term highlights the centralized aspects within a decentralized framework. While there may be advantages to this approach, it is essential to recognize that it deviates from the original principles of complete decentralization that cryptocurrencies like Bitcoin were built upon. Some players may have concerns about the level of control and centralization within the Binance ecosystem.
Lack of Typical Cryptocurrency Benefits
The initial wave of cryptocurrencies was driven by the desire to eliminate intermediaries and establish financial freedom from traditional systems. Binance Coin, being part of a centralized ecosystem, does not offer the same level of independence from regulators and centralized control as other cryptocurrencies. This may be seen as a limitation for those seeking the full benefits of decentralized cryptocurrencies.
BNB Staking
In addition to using BNB for gambling, you can also put the coin to work and earn extra income through staking. Instead of letting your BNB sit idle in your wallet, stake the tokens and watch your BNB holdings grow. But how exactly does it work?
First, you’ll need to acquire Binance Coin from one of the following exchanges:
- Binance.com/Binance Chain’s DEX/Binance.US
- Bithumb
- Gate.io
- KuCoin
- FTX
To make the staking process easier, consider using the Binance Ecosystem, which consists of two networks: the Binance Chain and the BNB Chain. If you use the Binance exchange, transferring BNB into the ecosystem will be a seamless experience.
Furthermore, there are several wallet apps available where you can stake your BNB. Trust Wallet is one of the user-friendly options that supports both Android and iOS devices.
It’s important to note that different blockchains and networks may use different names for certain coins within the app. For instance, on the BNB Chain ecosystem, Binance Coin is referred to as “Smart Chain (BNB).”
Actual BNB Staking
Now let’s dive into the actual process of BNB staking. To begin, you’ll need a minimum of 1 BNB on the Binance chain. It’s worth noting that BEP2 token addresses start with “BNB” as their standard.
When it comes to the Trust Wallet app, it offers multi-coin wallets, allowing you to store and transfer currencies and tokens from various blockchains.
Once you have enough BNB in your wallet, open the Trust Wallet app and navigate to the “Wallet” section. You’ll find a list of available tokens and coins, including “BNB (BNB)”. Select this option.
Next, click on “STAKE”. This action will take you to the “Stake BNB” screen. From there, choose a validator from the provided list.
After selecting a validator, you have the option to click “MAX” if you want to stake the maximum amount of BNB available in your wallet. Alternatively, you can manually enter the desired amount of BNB you wish to stake. Once done, click “CONTINUE” and review the information displayed on the screen.
If all the information is correct, click “CONFIRM” to complete the BNB staking process.
Can you get Binance Coin for free?
Is it possible to obtain Binance Coin for free? With the increasing popularity of Binance’s crypto token, various avenues have emerged that claim to offer free BNB on the internet. One example is the Idle-Empire website, which provides users with opportunities to earn points by playing games, watching videos, downloading software, answering questions, and registering on different websites. These accumulated points can later be exchanged for Binance Coin without the need for any deposits, as stated on the website.
Additionally, there are numerous Binance Coin faucets available that claim to provide free BNB in exchange for watching ads. However, it’s important to exercise caution when visiting such websites, as some may be fraudulent and attempt to deceive users. This is particularly crucial when it comes to sharing personal information or managing online wallets. It’s essential to thoroughly research and verify the legitimacy of these platforms before engaging with them.
Are Online Binance Casinos Safe?
When it comes to the safety of online Binance casinos, it is crucial to assess two key factors: fair treatment of players and robust security measures against external hacking attempts. These aspects contribute to determining whether a particular Binance casino can be considered safe for players.
To evaluate the safety of a Binance casino, it is recommended to read casino reviews and gather input from other players. By doing so, you can gauge the overall reputation and trustworthiness of the casino. Additionally, casinos that consistently receive positive feedback and have high player retention rates are generally reliable indicators of their commitment to fair play and timely payouts. If a casino fails to meet these expectations, it is likely to have a lower rating and struggle to retain players.
It is essential to conduct thorough research and make an informed decision based on the experiences and opinions of others. This will help you determine whether a particular Binance casino is safe enough for you to confidently engage in your favorite games and enjoy a secure gambling experience.
Binance Coin Games
I only feature casinos that support Binance Coin for playing. While some Binance casinos may convert your BNB to their internal currency upon deposit and convert it back to BNB upon withdrawal, this is a standard practice that applies to all currencies, not just BNB.
When it comes to game selection, you’ll find that almost all games can be played with Binance Coin, similar to Bitcoin. While certain game providers may impose restrictions on specific coins, if a casino offers Binance Coin as a playable option, they typically have a wide range of Binance Coin games available. Whether you enjoy Binance Coin slots, poker, roulette, blackjack, or any other table or live game, you’ll find ample options to suit your preferences.
