Crypto Revolution in Online Casinos: What to Expect in 2021-2022

Cryptocurrencies revolutionized payment systems. Decentralized options like Bitcoin are becoming more popular every day. They offer a secure payment method with no third parties. That makes them tempting for gamblers around the world.

Online casinos are following this trend. The industry understands the importance of cryptocurrencies, and it’s interesting to see what the future will bring. Check out expert suggestions on what we could expect in 2021 and beyond!

1.      More Casinos Will Offer It as an Option

You won’t find many reputable online casinos that allow gambling using cryptos. The good news is that the number of platforms accepting these currencies is increasing. This industry has one of the stiffest competitions, and providers look for options to get that edge.

Online casinos cover all the popular payment methods. That includes e-wallets and credit cards, bank account transfers, etc. The crypto’s popularity is what makes operators consider adding this option. The sheer number of users that use these currencies makes it a worthwhile investment.

2.      Players’ Knowledge and Use of Cryptocurrencies Will Grow

Cryptocurrencies are a trend, which is why they attract more interest than usual. A true gambler understands the importance of staying informed. That includes reading about the new payment options and finding the most suitable one.

Casino players are aware that cryptos like Bitcoin have many advantages. That includes the following:

• There’s no middleman. This is important because the banks and other central authorities can’t see and control how you spend your resources.
• Improved anonymity. If you play at online casinos, you might prefer to keep that discreet. Crypto transactions don’t use your bank accounts or credit cards. The casino only requires the address of your digital wallet.
• More secure. Online gambling platforms are generally safe. However, many players are still wary of leaving credit cards and other sensitive financial information on those sites. That’s why cryptocurrencies can be an excellent alternative.

As more players discover these benefits, the number of those using digital currencies to play online will increase.

3.      More Than a Bitcoin

Bitcoin is the dominating cryptocurrency, but other options are surging, too. Ethereum seems to have positioned itself as stable crypto with a decent value. Dogecoin, Litecoin, and other BTC alternatives also receive more attention than ever. The reports indicate that the crypto market capitalization exceeded $2.5 trillion, which is impressive.

It’s in the interest of online casinos to spread their cryptocurrency selection. Many gamblers invest in crypto, and they have different digital currencies in their wallets. The option to use them to play their favorite games could attract them to a specific gaming site. It’s how a casino could edge the competition and increase its market share.

4.      Speeding Up the Transactions

Some online casinos take time to process crypto transactions. It depends on the provider and the desired transaction. Most providers try to make deposits instantly since players might require funds quickly. Missing the next playing round could make them mad at the casino, which is not something they want happening.

The situation is different with withdrawals. Most casinos will require hours or days to deliver the funds to your crypto wallet. Those platforms that speed up the transactions could attract more players in the future.

5.      Making Everything More Affordable

Apart from the withdrawal speed, another trend that we could see involves crypto withdrawals with no or minimum fees. Banks and other payment services often include a processing charge for every cash-out request. That’s never the case with crypto transactions, which come free from intermediaries and their fees.

The only remaining thing is the casino fee. Gaming providers will look for ways to make the process more affordable. We could see operators giving up on the charge for their service to attract players to cryptocurrencies.

6.      Crypto-Focused Bonuses and Promotions

Online casinos could decide to motivate players to use cryptocurrencies. That’s why we could see providers offering crypto-focused promo deals.

Here are some examples that web casinos could use:

• Offering a special deposit match boost for those who use cryptocurrencies.
• Designing a loyalty program where you earn more complimentary points if spending BTC on the site.
• Promoting particular games that run on blockchain technology.

7.      Using Crypto in Other Areas of Online Gaming

Forward-thinking companies around the world take Bitcoin seriously. MicroStrategy revealed they want to acquire more than 100K BTC for their holdings. Those reports are the best evidence that cryptocurrencies play an integral role throughout various industries. It won’t be a wonder if we see them present in other online gaming areas.

Cryptocurrencies are already an option on many internet sports betting platforms. Online bingo providers could be keener on adding crypto in the next couple of years. The next in line could be playing games of skill and winning digital currencies for outsmarting other players.

The longest path seems to be implementing BTC and other cryptos into online video games. That includes popular PC and console titles that gather millions of users in web sessions. The legislation is the biggest problem there. The developer that figures out a way to add cryptocurrencies could make a real breakthrough and increase its market share.

8.      Regulating the Gambling Market

The effect cryptocurrencies had on the world surprised everyone, and that includes governments and other institutions. Today, they put much effort into keeping up and regulating these payment methods. According to reports, there are discussions about potential digital currency solutions issued by central banks.

The governments worry about revenue but also protecting their citizens. That’s why online casinos need to acquire gaming licenses to offer their services in certain locations. Blockchain technology can automate the process, and regulation can be part of the protocol. There’ll be no way to tamper with blockchain-operating games. That will contribute to player safety and make the jobs of gaming authorities easier.

Final Thoughts

There’s no doubt the cryptocurrency will only become more popular in the coming years. It’ll be more present than ever in online gambling. Web casinos will expand the selection of cryptocurrencies offered and offer special benefits for using those payment methods. It will be a win-win for players and gambling brands. Users will appreciate fast and secure payment options, while casinos can attract new customers and increase their market share.

 

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Argo Blockchain Secures $20 Million Loan with Galaxy Digital LP

Argo Blockchain expresses joy as it announces a £14 million ($20 million) loan agreement on its website.

The deal, spanning six months, was secured with Galaxy Digital LP using a portion of its Bitcoin ownership as collateral. The bitcoin-backed loan agreement is expected to grow its operations in Texas, United States of America.

The blockchain platform thus will use yields obtained from the loan, alongside the previous capital raised through its activities, to fund the company’s construction of a data center in west Texas. The proceeds, similarly, will be used to meet up with the company’s day-to-day financial obligations.

Argo Blockchain is Delighted

Expressing its pleasure with the latest development, the CEO of Argo, Peter Wall, said in the announcement:

“We are delighted to work with Galaxy Digital LP as we pursue our growth plans and to form a solid relationship with them as a financing partner.”

According to Mr. Wall, the agreement will facilitate the securement of competitive terms on a loan facility for Argo. It will additionally allow them to hold still their portion of the Bitcoin asset.

Related Reading | Craig Wright Wins Lawsuit On Bitcoin.org Hosting Bitcoin Whitepaper

The loan terms are thus favorable, as it authorizes the London-headquartered mining company to retain its current Bitcoin holdings, even as it broadens further its mining activities. By implication, the company can expand its mining operations while refraining from selling its bitcoin holdings.

Given this, the Bitcoin mining company is “pleased” to have Galaxy Digital LP as its source of finance. Argo looks forward to building a viable relationship with the financial institution going forward.

New RNS:

Argo is pleased to announce it has secured a £14 million ($20 million) loan agreement for a term of six months with @GalaxyDigitalHQ using a portion of the Company’s Bitcoin holding as collateral. #ARB $ARBKF

1/

— Argo (@ArgoBlockchain) June 29, 2021

Galaxy Digital is Committed To The Mining Sector 

On their part, Galaxy Digital, through its head of Mining and Lending, Amanda Fabiano and Luka Jankovic respectively, expresses its commitment to further boosting the mining industry.

“Galaxy is committed to creating tailored financial solutions to support miners. We are happy to provide Argo capital financing and products allowing them to scale and evolve.” the company said.

6-Month Loan Term ‘Very Short’

The $20 million loan agreement between Argo blockchain and Galaxy Digital is for six months. In line with this, there have been growing attendant concerns about the period of the loan agreement.

Related Reading | Don’t Buy Bitcoin, It’s NOT Going To Crash

Many keen observers think the 6-month deal is a concise term for $20m borrowings. “How will the capital and interest be repaid in December?” One observer asked.

The Argo blockchain explained

Argo Blockchain PLC is a major crypto mining firm: a publicly traded blockchain technology company focused on large-scale cryptocurrency mining. It’s headquartered in London.

As a global leader in the crypto industry, it has one of the most extensive and efficient operations powered by clean energy.

The UK company’s shares are listed on the Main Market of the London Stock Exchange under the ticker ARB and on the OTCQX Best Market in the United States under the ticker ARBKF.

Bulls are trying to take control to uplift the price | Source: ARBKF on TradingView.com

Despite such amazing news, Argo’s stock price is still down by 1.38%. Experts predict the news will later result in the surge of the stock price. However, for now, the bears are in control but bulls are expected to take over.

 Featured image from Pixabay, chart from TradingView.com

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Can Staking Pools Ignite Cryptocurrency Participation for People of African Descent?

Bright Enabulele, Launches the First Staking Pool for Oduwacoin (OWC) called Oduwa Pool

An innovative Staking Pool for people of Africa and underserved communities around the world has been launched by the renowned Blockchain Strategist, Bright Enabulele, Co-founder of Oduwacoin.

This is another major milestone Oduwacoin’s innovation is delivering to the global digital economy. Oduwa Pool is here to solve a major problem for people of Africa and other underserved communities around the world, who have challenges mining cryptocurrency in these digital times because of lack of electricity and high-cost equipment. Bright Enabulele’s mission has always been to create viable solutions on blockchain for underserved communities and also create a gateway for the common man to safely participate in the global digital revolution.

How does the Staking pool function with Oduwacoin?

History

Bitcoin (BTC), the first generation cryptocurrency, that started its own incentivized consensus-protocol mechanism known as Proof of Work (PoW), to validate transactions, mint new coins  and reward users on the network, revolutionized our world. However,  it failed to address the issue of high energy consumption and the impact it has on our environment. This is due to the nature of Proof of Work (POW).

As the world of cryptocurrency evolves, Proof of Stake (PoS) mining protocols have become very common, with the cryptocurrency domain advancing, we have numerous projects  joining the competition. Proof of Stake is one such newcomer that has been gaining a cult following among its users. POS solves the energy consumption issue as it does not require energy for verifying transactions and has low entry barriers, anyone can make a huge profit out of staking the POS coins. Anyone can stake as a solo miner  or join a pool of other miners

A pooling mine is a mining method in which more than one client contributes in the creation of a block and later the block reward is split among the clients in accordance with the investment made by them. Staking pools work similarly to this pooling mine process. It focuses on bringing the highest output out of the Staking process. Staking pools enable investors to earn passive income by validating blocks and receiving rewards. Investors combine their staking power and share the block rewards proportionally according to the member’s contribution.

The general concept is that the bigger a staking pool is, the higher the chances of picking this staking pool and verifying a block.

There are two varieties of staking pools

1. Single-chain staking pools or In-house is directly specific to single blockchain cryptocurrency designed to support only the native token. These pools are decentralized and support a single currency.
2. Multi blockchain staking pools, deal with staking in more than one cryptocurrency.

Is staking solo better than staking pools?

 Well, to know the answer to this question, let us consider the following example. John is staking solo, contributing over 2000 coins. John’s competition is a staking pool investing millions of coins. In this case, we can say without a doubt that John’s coin weight has zero chance of being selected to validate the block.  The bigger the weight of the coins the higher chance of being selected. The profits gained are higher in staking pools than in staking solo.

Why staking pools?

• Selecting a large staking pool generates consistent rewards with no fluctuation because they have a larger probability of getting selected in order to validate a block. So your income is always steady and predictable.
• Staying connected to the servers could prove challenging for the participants who are staking solo as it requires a consistent high-speed internet connection. Staking pools promise a consistent and continuous connection to the servers using their own hardware.

How do staking pools work?

Basically, the larger the staking pool, the higher the chances of getting picked and validating a block. Consider that there are 3 users: X, Y, and Z. User X is a Staking wallet with 1000 OWC coins. User Y is a staking wallet with 10,000 OWC  coins. And finally, user Z who understands the staking pool very well takes part in the staking pool. User Z invests 100,000 OWC coins into it. When a block should be mined, the blockchain attempts to find the best-suited staking wallet.

User Z who has taken part in the staking pool has the highest possibility of making the most profit among users X, Y, and Z. The final pool reward will be partitioned among the users and the pool service claims a small percent of the reward as charges.

Mr. Enabulele is a co-founder passionate about getting  Oduwacoin in the hands of the people who will truly benefit from it. Blockchain technology is new and has provided lucrative benefits to millions of people, but many people are still in the dark and do not know how profitable it is. Innovative minds such as Mr.Enabulele have paved the way so that those who are truly in need may benefit from the possibilities of this technology.

The pool is now running at oduwastakingpool.com, we urge the Oduwacoin community to start delegating their OWC to the pool and earn instant rewards. No waiting and lock periods.

 

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TA: Ethereum Corrects Lower, What Could Spark A Fresh Rally

Ethereum rallied further towards $2,250 before it faced sellers against the US Dollar. ETH price is correcting lower, but the bulls are likely to remain active near $2,000.

• Ethereum started a downside correction after it tested the $2,250 resistance zone.
• The price is still well above $2,000 and the 100 hourly simple moving average.
• There is a major bullish trend lien forming with support near $1,975 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could dip in the short-term, but the bulls might protect the $2,000 support zone.

Ethereum Price Remains Supported

Ethereum remained well bid above the $2,000 support zone and it extended its upward move. ETH surpassed the $2,150 resistance zone and the 100 hourly simple moving average.

The price even climbed above the $2,200 level. Ether tested the $2,240 zone before the bears appeared. A high was formed near $2,241 before it started a downside correction. There was a break below the $2,200 support zone.

There was also a break below a connecting bullish trend line with support near $2,160 on the hourly chart of ETH/USD. The pair is now testing the 23.6% Fib retracement level of the of the upward move from the $1,716 swing low to $2,241 high.

Source: ETHUSD on TradingView.com

The next major support is near the $2,070 level, followed by the 100 hourly SMA. There is also a major bullish trend lien forming with support near $1,975 on the same chart. The trend line is close to the 50% Fib retracement level of the of the upward move from the $1,716 swing low to $2,241 high.

Any more losses could spark a steady decline below $1,950. The next major support on the downside is near the $1,850 level.

Fresh Increase in ETH?

If Ethereum remains above the trend line support and $1,950, it could start a fresh increase. An immediate resistance on the upside is near the $2,200 level.

The next key resistance is near the $2,250 zone. Any more gains could set the pace for a move towards the $2,320 level. In the stated case, the bulls might even aim a test of $2,500 in the near term.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bullish zone.

Hourly RSI – The RSI for ETH/USD is currently just below the 50 level.

Major Support Level – $2,000

Major Resistance Level – $2,250

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TA: Bitcoin Lacks Momentum Above $36K, Why BTC Could Correct Lower

Bitcoin price extended its recovery above the $36,000 zone against the US Dollar. BTC topped near $36,700 and it is now correcting gains.

• Bitcoin started a fresh increase above the $35,000 and $36,000 resistance levels.
• The price is now trading nicely above $35,000 and the 100 hourly simple moving average.
• There is a major bullish trend line forming with support near $35,700 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair is likely to start a downside correction below $35,700 and $35,500 in the near term.

Bitcoin Price is Correcting Gains

Bitcoin started a steady increase after it settle above the $34,000 level. BTC broke the key $35,000 barrier and the 100 hourly simple moving average to move further into a positive zone.

The price even spiked above the $36,500 resistance. It traded as high as $36,698 and it is now correcting gains. There was a break below the $36,500 and $36,000 levels. It even traded below the 23.6% Fib retracement level of the upward move from the $33,939 swing low to $36,698 high.

Bitcoin is still trading nicely above $35,000 and the 100 hourly simple moving average. There is also a major bullish trend line forming with support near $35,700 on the hourly chart of the BTC/USD pair.

Source: BTCUSD on TradingView.com

If the pair fails to stay above the trend line support, it could start a downside correction below $35,500. The next key support is near the $35,200 level. It is near the 50% Fib retracement level of the upward move from the $33,939 swing low to $36,698 high. Any more losses might call for an extended decline towards the $34,000 support zone in the coming sessions.

Fresh Increase in BTC?

If bitcoin remains stable above the trend line support, it could rise further above the $36,000 resistance. An immediate resistance on the upside is near the $36,500 level.

The next key resistance is near $36,700, above which the bulls are likely to aim a fresh high above $37,000. Any more gain could lift the price towards the $38,000 resistance. The next major barrier is near the $40,000 zone.

Technical indicators:

Hourly MACD – The MACD is slowly losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is still well above the 50 level.

Major Support Levels – $35,700, followed by $35,200.

Major Resistance Levels – $36,000, $36,500 and $38,000.

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Ethereum Breaks $2,000, What You Should Prepare For

Ethereum has been struggling a lot in the past months. Following the general crashing pattern of the market in recent months. The coin reached a new high of over $4,000. Before falling back down following the market crash over a month ago. Losing over 50% of its value in a matter of weeks. But despite this, the coin has persevered.

A week ago, Bitcoin fell below the $30K stronghold. Following this, Ethereum lost its footing at its $2,000 stronghold and fell below.

Related Reading | Ethereum 2.0 Contract Reaches 100,000 ETH Milestone

At first, it looked as if the coin would not recover. The whole market seemed to be sinking further into a bear. But all is not lost.

Ethereum has since regained back some control. Its price is back up in the green.

Bull Run After $2,000?

A bull rally for Ethereum does not seem unlikely at this point. There are projects going on on the Ethereum blockchain that encourages the use of the coin. The scalability alone of Ethereum puts it in a remarkable position to post another recovery. Projects like ETH 2.0 will completely revolutionize the crypto industry.

Once the lower fees are implemented, it means that the bottleneck with small transactions will be solved. Lower fees mean the coin can be used more as a currency instead of an investment asset.

Ethereum breaks $2,000 | Source: ETHUSD on TradingView.com

$2,000 has been the major hold point for Ethereum since the decline. Traders have battled to keep the coin above this point. Speculations being that another bull rally is more likely above this price point than it is below it.

Staking is also another big driver for Ethereum. People can stake their ETH in liquidity pools and get rewarded in tokens. Given this, more people are buying ETH coins for the sole purpose of staking.

Staking ETH is less complicated than trading too. It gives investors a low entry point to get into the market without risking too much. These little entries, albeit small individually, add up over time to increase the market cap of Ethereum.

Ethereum London Hard Fork

Ahead of the London hard fork, Ethereum has seen a bit of increase in the past days. The London hard fork is scheduled to take place in July. It is scheduled to happen packaged with the EIP 1559 as part of efforts to scale the network.

This is targeted to make transactions easier for the users. With a proposal of the gas fee to be sent to the network as sort of a burn. With an optional tip being paid to miners.

Obviously, this has come with opposition from minters. But users and investors alike are excited about this.

Related Reading | StakeHound Loses Investors Private Keys, $72 Million Worth Of Ethereum Gone

High gas fees have been burdensome for a while now due to networks being congested by the large number of new tokens being issued. The London hard fork is part of the plan to solve this congestion problem.

Prior to this was the Berlin hard fork. It took place in April earlier in the year.

According to market speculations, if ETH holds the $2,000 resistance point, then there could be another recovery on the horizon.

But with so little momentum, it is possible that the coins fall back below. This could mean that the coin will experience further downturns before there could another recovery.

Ethereum still maintains a price higher than its previous all-time high. If it breaks, the next major resistance point would be at $1,500.

Developments are still ongoing in Ethereum to ensure the total scalability of the entire network. A complete overhaul to ETH 2.0 is scheduled for 2022.

Featured image from Press Insider Daily, chart from TradingView.com

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Institutional Bitcoin Selloff Leaves Retail With Bloody Aftermath

Bitcoin price is trading at around 50% down from 2021 highs set around the Coinbase stock market debut. According to data, the rally fueled by institutions finally getting into crypto came to an end by the same entities who drove up prices in the first place.

Here’s why institutions left the crypto market and retail investors with a bloody aftermath, even though they helped drive prices up in the first place.

Crypto No Longer A Fad, Institutions Buying Causes Bullish Breakout

Up until the last couple of years, the cryptocurrency market was considered a fad, or a sector segregated from traditional finance that’s more associated with ransomware, the dark web, and tax evasion.

Related Reading | What The Last Leg Up In The Crypto Bull Market Could Look Like

Over the years, retail investors adopted Bitcoin with the hope of disrupting traditional finance, and today it is starting to work. Institutions and even big banks and governments can no longer ignore the technology, and many are taking the plunge in their own way.

Data shows institutions took profit at local highs | Source: Arcane Research: The Weekly Report

PayPal and other payments brands now support crypto; national governments are considering central-bank issued digital currencies; and institutions are finally buying, selling, and trading Bitcoin.

These high wealth players with decades of market experience and all kinds of tactics on their side were paramount to driving prices up to $60,000 per coin. Unfortunately, the data above suggests they were also instrumental to the selloff that left retail traders with a bloody aftermath.

Other Side Of The Bitcoin: Institutions Selling Can Be Devastating

Institutional investors are sometimes referred to as “smart money” due to their ability to spot trend changes early, or perhaps due to their size they’re the ones behind the trends themselves.

Institutions aren’t typical traders behind a three-monitor setup filled with altcoin charts galore. The likes of hedge funds and more all have teams dedicated to technical analysis, fundamental analysis, macroeconomics, and much more. Using their combined intel, strategies are devised.

They buy assets they expect to do well, and they take profit when there’s profits to secure. Institutions don’t “HODL” hoping for hundreds of thousands of dollars per coin. Instead, they recognize they’re up by a few hundred percent in only a handful of months, and took profits before retail investors realized what was going on.

CME gaps could potentially be targets for where BTC goes next | Source: CME-BTC1! on TradingView.com

Bitcoin might have made it to $1 trillion but crypto is still speculative, sensitive to sentiment changes, and can be extremely volatile. Institutions know all these things and took some risk off the table before the market collapsed – and it did.

Related Reading | Bitcoin Bear Market Comes Down To Pivotal June Close

Realized losses were the highest in history according to on-chain data, and as the rest of this info shows, institutions weren’t the one suffering in the red.

Retail crypto investors dreamt of the days when institutions would drive up prices of the low supply asset, and its here. What they didn’t realize was the nightmare that would result when these big players begin to sell their coins.

Featured image from iStockPhoto, Charts from TradingView.com

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