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For those embracing Bitcoin use for gambling and looking for a betting site that is reliable, with promotions and good odds, 1xBit is an excellent option. In this article we will show you the main reasons why you should invest your cryptocurrencies – or not, if the disadvantages, in your opinion, outweigh the positives – at 1xBit Brazil.

The website went live in January 2017 to be the “crypto” arm of Russian giant 1xBet, 1xBit was able to take advantage of the experience and good reputation of its “sister” bookmaker and grew quickly, gaining the trust of cryptocurrency users. And, taking advantage of the dizzying price growth and popularization of bitcoin and other altcoins during its first year, it saw the number of users jump to numbers that guarantee the stability and profitability of the business.

Covering a huge number of sports and e-sports, the 1xBit betting site also has a large number of bonuses and promotions to attract the interest of new users and keep bettors’ interest always on the rise.

And the possibility to remain anonymous while playing also draws the attention of many punters who prefer not to identify themselves.

For those who have just made the registration, which should be the fastest and simplest on the planet, the welcome bonus is 100% of the amount of the first deposit, up to the amount of ₿1. The minimum to be put into the account to receive the bonus is m₿5 (₿0,001).

But the bonus doesn’t stop there! Activate the “Participate in bonus promotions” function in the “My Account” area and, in addition to your first deposit, you will also receive bonuses for your second, third and fourth deposits. In total, the reward can be as much as ₿7!

The maximum bonus amounts

• for the 1st deposit – 100% bonus up to ₿1
• for the 2nd deposit – 50% bonus up to ₿1
• for the 3rd deposit – 100% bonus up to ₿2
• for 4th deposit – 50% bonus up to ₿3

The rollover is quite high, always 40 times the deposit amount, and can be returned in cash or in the form of “bonus points” (but don’t worry, there is no shortage of ways to use these points). The deadline for these deposit bonuses is always 30 days. The conditions are bets with minimum odds of 1.6 that are not cashback fruits and are valid for all single or accumulator sports bets.

To register with 1xBit, all you have to do is click on the “register and get a bonus” button. That’s it. After that, just prove that you are not a robot and you are already registered. The site indicates your user number and password. If you prefer, you can register an e-mail for the platform to send you an e-mail with these data, but you are not obliged to.

Since it is all done by cryptocurrency, no personal information or confirmations are required, but if the house discovers irregularities, it closes the account and the user loses the money.

How to get your bitcoin welcome bonus, step by step

1. Register by clicking on the “register and get a bonus” button.
2. Make a deposit of at least m₿5.
3. Once the rollover of 40 times the deposit amount is met, you will receive your bonus, worth up to ₿1, and be eligible for the second deposit bonus.

It is very easy to get lost amidst so many bonuses and promotions that 1xBit sports betting and casino offers to registered users. Here, we will focus on the main ones and explain how they work.

As soon as the first deposit is made, the bettor must choose one of two promotions to receive points while betting. And, as she earns points, she can use them in the 1xBit store. We’ll talk more about the store ahead.

Only one of the two promotions can be active at any given time. You can switch from one to the other, but all unused points are lost.

Players who like to place live bets will prefer this bonus. It is only valid for this type of betting and is daily. The more you bet, the more points you earn. Daily it distributes points, according to the number of bets placed and the performance. Every 24 hours (starting at midnight in Moscow) he compares your balance and sees if any withdrawals have been made. Then an account is made for the distribution of points.

The formula

Points = (account balance – withdrawal)* % remuneration /100
% payout = loss or win /10*balance

In case of a win the net winnings of the bet are taken into account.
In case of a defeat, the lost amount is counted. All amounts to be considered from the bets are added together and form the “win or loss”.

It seems a bit complicated to understand, but on the website there is a more detailed explanation. At the end of the day, the account is done and the user receives the appropriate points.

In this mode, regardless of whether the sports bet wins, the player receives points as soon as he places the bet. As with the “Bonus on your account balance”, there is a formula that determines the amount of points to be awarded.

• Points = wager amount (in $) *offer amount
• Bid amount = square root of the stake minus 1
• Maximum amount of the offer = 5

More bonuses and promotions

In addition to these initial promotions, those who bet with bitcoin or in another cryptocurrency at 1xBit have 12 other bonus options, both in casino and sports betting. There are daily and weekly bonuses, and we will highlight two promotions below.

The most relevant sports events of the day receive a special accumulator. Winning bundled bets in this promotion receive a 10% increase in the odds.

1xBit Formula One Betting

If you are a motorsport fan, and you have a bad bet on Formula 1, you can end up winning a lot in 1xBit’s “Formula 1” slot.

This is because for every m₿1 lost, the bettor gets 1 free spin on the game. To be eligible for this promotion, the bet must be at least m₿1, with a minimum odd of 1.4. And if it is a cumulative bet, at least one guess must be on Formula 1.

In addition to cryptocurrencies, the 1xBit sports betting and casino bettor earns points, lots of points, which can be redeemed in the site’s store. There, points can be exchanged for games or codes for other bets, guesses, insurance or casino games, or they can be turned into cash.

There are almost 30 different redemption options

Each 500 points are worth $10. With 50 points, for example, you can buy a code for a free bet on any sporting event with a rating of 1.8 or higher. You can also buy treasure chests to try your luck with bonuses, lottery tickets, free accumulator bets on soccer… in short, the store is full of options.

Is 1xBit reliable?

By operating only with cryptocurrencies, the 1xBit betting site undoubtedly reduces its options, but at the same time it gains the freedom that virtual currencies offer, such as reducing bureaucracy and identity checks for users.

Because it has a very strong structure, even belonging to the same group that runs 1xBet, a fiat currency betting giant that also accepts cryptocurrencies, there is no risk of the site failing to pay its bettors. But just like 1xBet, 1xBit does not make its information easily available. It has a license to operate as a bitcoin betting site in Curacao. 1xBit also offers Forex services, for those who invest in cryptocurrencies.

1xbit Payment methods

Despite accepting 28 different cryptocurrencies, 1xBit recommends using bitcoin to deposit money into the house. For those who do not yet have bitcoins, simply choose, in the “Payments” section, under “Deposit”, the option “Buy cryptocurrency” (it is a red button, easily identifiable), and 66 cryptocurrency exchange houses will be displayed. Just choose the one you trust and buy the bitcoins.

After you have made your purchase, just transfer the cryptocurrencies to your 1xBit account. 1xBit was one of the houses that came to the market to cover the void left by Bovada, a house that also accepted Bitcoins, but that stopped operating in Brazil.

To withdraw money, there are 20 different cryptocurrencies accepted, and the process is inverse to the deposit, with the transfer being made from the sportsbook to your crypto wallet.

At first glance,  it was a fantastic year for Bitcoin, with the price of one Bitcoin increasing more than tenfold to over 16,000 euros in some cases. However, if you take a closer look at the “cryptocurrency”, it quickly becomes clear that not all that glitters is Bitcoin gold. To start trading or investing yourself in BTC you need a good exchange, pick one listed on this website.

Bitcoin has lost out significantly compared to other cryptocurrencies. From the market dominance of 85 percent (Bitcoin’s share of the total crypto market) at the beginning, just about 40 percent remains (current chart on this). The value of the second largest cryptocurrency (Ethereum) has increased a hundredfold in the same period.
The ongoing debate about the urgently needed scaling roadmap has deeply divided the community. To the point that even long-time advocates have turned their backs on Bitcoin. The ‘Bitcoin Cash’ fork was a direct result of this. The sometimes very high transaction fees are on the one hand a sign of success (= many transactions), but on the other hand they make Bitcoin unusable for daily use. That is why, for example, many exchanges also offer ETH trading pairs.

As far as the price is concerned, we don’t want to make a forecast here but there are a lot of opportunities with new services and products on the market. On the one hand, because we believe that this is impossible. On the other hand, we do not see ourselves as investment advisors. This article is only intended to look at the opportunities and risks that we forecast for Bitcoin in the next one to two years. None of the information provided here should be considered investment advice.

Bitcoin still has the network effect on its side. It probably also attracts fresh capital first. But the trend does not look good compared to other cryptocurrencies. Above all, the scaling problem, which has still not been solved, and the associated question of the really real benefit of Bitcoin are depressing the outlook. In addition, there is the difficult community and the perceived sluggishness in terms of innovations in development. Moreover, challengers like to point fingers at Bitcoin’s immense energy footprint.

Big Money and the Network Effect

Bitcoin remains the best-known cryptocurrency and. As the currency of origin, it benefits immensely from the network effect.
While other asset classes (stocks & co.) would hang seasick over the railing in the face of Bitcoin price fluctuations, BTC has almost become something like the “safe haven” compared to other cryptocurrencies. Institutional investors or even Wall Street, who for the most part are still watching this regatta skeptically from a helicopter, will probably get their feet wet with the “big guys” (Bitcoin, Ethereum, Litecoin, etc.) first before venturing into the shallows of the altcoin fairway (so…enough metaphors now…). It will continue to be dominated by the most important question. By the way, it does not only refer to Bitcoin, but would also extend to many other cryptocurrencies if they were so successful: How does Bitcoin manage to process significantly more transactions without losing decentralization and thus protection from regulation and censorship?

Quite possibly, the answer to this question will determine Bitcoin’s long-term future, because: If the scaling problem is not solved, Bitcoin will remain a network on which only larger amounts can be transferred due to transaction fees. Many business models are no longer sustainable. And certainly not the original vision (see Satoshi Nakamoto’s whitepaper) of “peer-to-peer electronic cash.”

It is questionable whether the current price, which reflects the future benefits, is still justified. However, if Bitcoin can be made attractive again for microtransactions through optimization and “layer 2” solutions such as the Lightning network, Bitcoin’s network effect could be enough to turn the tide once again.

The real-world benefits of Bitcoin

As mentioned above, many companies and projects have now turned away from Bitcoin (Microsoft, Stripe, Yours, …) because their business model or intended use is not compatible with high transaction costs and/or long confirmation periods. So the question remains: what is the value of Bitcoin and beyond? because: Something is only valuable if it has limited availability and utility. It is undisputed that BTC is the gateway to the world of cryptocurrencies. All other cryptocurrencies are bought primarily with Bitcoin. Every exchange has trading pairs with BTC, but not necessarily with ETH. But again, the high transaction fees are causing traders to increasingly switch to other trading pairs.

Moreover, the only benefit of Bitcoin (which should not be underestimated) seems to be the “store-of-value” aspect. No other cryptocurrency can boast these characteristics:

• has been running for over nine years without incident at the protocol level
• Has the largest miner computational power and thus the highest level of security
• is apparently immune to any attempt to subvert the system
  has held value very well despite intermittent crashes.

These are characteristics that a digital gold substitute must demonstrate. This plus speaks in favor of Bitcoin.

Bitcoin’s “waste of energy” by the miners

One thing up front: no one calculates how much electricity the Internet “consumes,” or how much is “wasted” on building highways and mining gold. Now, a big part of the blockchain breakthrough is based on the fact that “proof-of-work” has made decentralized consensus on the current state of transaction history in the blockchain possible in the first place.

In other words, in theory, the energy expended by mining is necessary to keep the system robust and secure.

In practice, however, there are now other systems that claim to be sufficiently secure as well and manage without miners. Proof-of-stake (Lisk, NEM, Cardano and soon perhaps Ethereum are among them) is the best known, but DAG-based cryptocurrencies such as IOTA or Nano are also taking other paths. Of course, they need to show a similar “long” history without incidents as Bitcoin has done before they are considered recognized in this respect.

The community and the young talent problem

If I were a developer looking for my future in the blockchain space, would I start in the Bitcoin community? Definitely not. The climate is too toxic for that, and innovations that make it into the protocol are as rare as Satoshi Nakamoto’s television appearances. But a healthy community that attracts bright minds is one of the most important factors in the success of open-source projects… Unless Bitcoin’s sluggishness evolves into the feature of the system whose rules are the only ones among cryptocurrencies that can’t even be changed by the core developers.

A fork is the splitting of the blockchain into two versions that are no longer compatible. It has emerged as the only way to update the protocol when part of the community has different ideas than the core developers. However, new coins are created as a result.

Bitoin will certainly not be knocked off its throne overnight. But the trend is clear in our view. We join the recommendation to stop using Bitcoin on crypto exchanges. As a substitute, we advise buying the other cryptocurrencies best via ETH. As the trading volume (and liquidity) on exchanges increases, the number of trading pairs without BTC participation will also increase. If this trend continues, this use of Bitcoin would also disappear, leaving only the digital equivalent of “storing gold in the basement” as a use of Bitcoin. Is that enough?

Conclusion

Even if the above arguments suggest a rather pessimistic outlook on Bitcoin’s future, one should not underestimate Bitcoin’s resilience. After all, Bitcoin has already died circa 250 times. Nonetheless, we predict “The Flippening”, which is when Bitcoin will no longer be the top cryptocurrency. However, we do not dare to predict what this will mean for the price.

In Germany, gambling is subject to a state monopoly. This means that only the state may determine whether and to what extent gambling is operated. For this reason, both the lottery as well as casinos and regular casinos are subject to consistent regulation by the federal government or the federal states.

The planned future steps might let many players switch to more anonymous casinos where you can use Monero, like the ones mentioned at Monerobetting.com.

This is regulated by the State Treaty on Gambling. However, this treaty was drawn up many decades ago and now has considerable gaps.

For example, gambling libraries with their range of slot machines are largely excluded from this control. But also the fact that EU law breaks federal law in many areas ensures that the federal government is increasingly losing control of the gambling offer.

EU law threatens the control of gambling

The reason for this is that other EU countries have much more open gambling regulations. This is becoming a problem for the German government, especially in view of the ongoing digitalization, because more and more casinos with an Internet presence are buying licenses within the European Union and advertising their services on the Internet. Due to existing contracts, this is also legitimate, but ensures that more and more interested parties no longer visit the regular casinos and casinos, but rather use the offers on the World Wide Web. For the state this circumstance means, just like the thousands of gambling libraries and betting offices in Germany, that the control over the kind and extent of gambling in Germany slips away more and more.

Lost revenues force correction

Pure control is only one aspect of the problem. Far more relevant is the fact that gambling has developed into a billion-dollar market, which the federal and state governments have largely ignored. In fact, the revenues of the remaining casinos collapsed so sharply that in 2020, the federal state of North Rhine-Westphalia considered separating from all casinos due to cost pressure. Other federal states, such as Schleswig-Holstein, withdrew from the gambling treaty and allowed gambling operators on the Internet in Germany to acquire licenses again for the first time. For Schleswig-Holstein, this measure brought a considerable plus into the coffers, so that other federal states also threatened to terminate the gambling agreement in order not to miss out on the possible additional revenues. As a result, it was decided to renegotiate the State Treaty on Gambling.

New changes decided for 2021

For several months now, the individual federal states and the federal government have been engaged in intensive negotiations on how the new treaty should be structured. Now an agreement has finally been reached. This is to come into force as early as 2021 and includes the following changes:

• Casino websites are permitted in the Federal Republic of Germany. Starting next year, every casino that has a license in Germany may also actively recruit players in Germany
• Players are allowed a maximum of 1000, – € per month on your account with the respective gambling operator deposits
• A ban file for vulnerable players should be created to better fight gambling addiction

The advantages of these contract amendments are obvious. Not only can the government and the federal states enjoy new tax revenues, but the protection of young people and the prevention of addiction in the area of Internet gaming has also been consistently implemented.

The problem here, however, is that players would have to register voluntarily for the blocking file. Also the fact that many payment service providers are withdrawing from the German casino business is not necessarily an attractiveness advantage for the location Germany.

As we all know by now, the world around us is constantly changing, we go from freedom to isolation, to freedom with restrictions, back to isolation…how will all this end sometime?

One thing we do know is that there are many people out there who are not comfortable going out and mingle in public places like bars, restaurants and casinos. With the rise of cryptocurrencies like BTC (visit this website for more information), the number of online player is growing fast!

Life is going digital

This crazy COVID world we live in has affected many things. People have struggled to keep up with the sales of game consoles sold and online streaming services have struggled to keep up with demand. Some areas of the economy experienced major hits, but at the same time other areas were booming. Since things are as shaky as they are, we have found that traditional shopping has taken a pretty big hit in the end, but online shopping has experienced a huge boom.

• Governments across Europe are making sure that restaurants and pubs are no longer allowed to open, but take-away stores are rising to new heights.
• Casinos were also closed to the public, but this has never really stopped people from seeking their entertainment.

Something suitable for everyone

Although we are limited in our options, online casinos are more popular than ever.

Some want to try their luck to convert their pennies into bills while the situation is somewhat tense, others want to dispel their boredom for a short time by spinning the slots, but one thing we can say for sure: it is easier than ever to get into the casinos.

There are countless apps and even more websites that offer everything you need to play, from slot machines to roulette, blackjack, poker and baccarat. But with all these offers, how do you keep track of everything, especially when there is money involved? Take a look at Casino BTC to get an overview.

Only bet what you are willing to lose

In this digital world, money can swing in one direction or the other, have fun, and there are people who have made a career out of online gambling.

There will always be an opportunity, but we must emphasize that you should gamble responsibly. Which casino bonus is best for you?

It depends on what you like to play. Sure, go ahead if you don’t go beyond your possibilities. As the old saying goes: when the fun stops, you should stop gambling. Therefore, always set aside only a marginally small part of your own income for entertainment like casinos and co. So that then have fun, but never spend more. Because casinos should only serve to relax a little, without one gets thereby into the Miesen. This must never be forgotten.

Conclusion

Yes, online casinos are becoming more and more popular in times of lockdowns, just don’t make the mistake of putting too much financial aspect on them. Even in lockdown, the fun must have its limits.

Just last week we reported on the current events around the Facebook Coin Libra and the concerns of the US Congress that Libra could pose a threat to financial and currency stability.

In a conversation that took place on 9 July 2019, Burkhard Balz, Member of the Board of Managing Directors of the Deutsche Bundesbank, now also talks about the threat to financial stability posed by crypto currencies.

In the interview, Balz explained that financial stability was not threatened by crypto currencies. The talks on this subject were held in the European Parliament and disseminated via the channels of the Deutsche Bundesbank.

Crypto currencies are (at all) no threat to financial stability

Many people are getting paid via BTC and it is good for the economy. Burkhard Balz said that in his opinion crypto currencies do not pose any threat at all to monetary or financial stability. In so doing, he agrees with the ECB’s view that crypto currencies do not pose a threat to general financial stability. Balz went on to explain that such a situation could arise, however, if no proper handling were found, e.g. if there were no regulations and international standards that crypto currencies would have to meet. For example, it has been reported several times that Spanish law enforcement authorities have expressed concerns “in the Bitcoin case”. They complain that Bitcoin ATMs exploit gaps in the European Union’s anti-money laundering (AML) rules. This may be annoying, but it does not pose a threat to financial stability. Read at http://www.whatreallyhappened.com how to get free BTC, if you missed the chance to invest early.

Distributed Ledgers (DLT), Artificial Intelligence (AI) and Cloud Computing are the Future

After for example Donald J. Trump has only recently spoken out against crypto currencies, it is all the more pleasing to hear positive opinions on blockchain, DLT and crypto currencies. Burkhard Balz praises the technological progress and has high hopes for the Distributed Ledger Technology (DLT), Artificial Intelligence (AI) and Cloud Computing. At the same time he warns that in the future (and especially with increasing distribution and acceptance) “security checks” for crypto currency must be carried out.

Balz also said that it was not essentially a revolution, but rather an evolution. The aim should be to make it easier for people to access their financial assets. So we can talk about “a new digital age” that will change the financial sector forever.