Online Gambling Platform FreeBitco.in To Adopt Binance-Listed "FUN Token"
FreeBitco.in, one of the world's largest Bitcoin gambling websites, with over 41 million registered users and 52 million monthly visits, is adopting the FUN Token to power its Premium Membership Program, as reported by this Press Release on Jan 29.
FreeBitco.in's Premium Membership Program
FreeBitco.in will launch this program on 15th March 2021. However, FreeBitco.in has already opened its website for FUN Token purchases on 29th January.
Users will have to buy and hold FUN Tokens to earn cashbacks, free spins, and more on the website. The platform will incentivize its 41-million-strong user base to adopt and utilize the token on a larger scale.
The online gambling website is now the first to adopt a liquid token that's listed on leading exchanges like Binance, HitBTC, and OKEx. FreeBitco.in looks to subsequently increase the token's utility by opening up token purchases to crypto-enthusiasts globally.
A recent study says the online betting and online gambling market will grow to $100 billion in five years at a CAGR of 10%. FreeBitco.in seeks to tap into this growth potential to further boost adoption.
FreeBitco.in: A Top 10 Online Gambling Platform
Launched in 2013, FreeBitco.in has since become one of the biggest Bitcoin-centric websites in the world. On launch, their initial objective was (and still is) to promote the adoption of Bitcoin.
FreeBitco.in facilitated this objective by introducing a Bitcoin faucet in 2013, giving away free BTC to anyone that solved a captcha. Over the years, FreeBitco.in added exciting games, contests, and giveaways to get more people using Bitcoin.
One of them is their proprietary HI-LO dice game. In this game, a player needs to bet HI or LO, and they can potentially multiply their BTC by up to 4,750 times. To ensure a provably fair environment devoid of manipulation, the game integrates mathematics and cryptography, taking after Bitcoin that uses cryptography for transparency.
Also, not unlike the model adopted by DeFi protocols, users who deposit BTC to their FreeBitco.in wallets and maintain a balance above 30,000 Satoshis (0.00030000 BTC) earn 4.08 percent in annual interest rates compounded daily.
FreeBitco.in has a betting section too, where users can wager on different events using their BTC.
Now, in 2021, FreeBitco.in seeks to use its massive reach to promote the adoption and utilization of cryptocurrencies in general. FUN Token, an established online gambling token, is set to become its marquee coin.
30% YoY Increase in BTC Wager Volume
In 2020, $600 million (over 450,000 BTC) in wagers were placed by players at FreeBitco.in. Since 2013, FreeBitco.in has steadily grown by 30% year-on-year.
Since launch, players have earned more than 227,520 BTC. This explains why FreeBitco.in has a high retention rate of over 75%, which is one of the highest in online gambling.
Compounding this growth is a comprehensive referral program where referrers earn 50% commissions for life. The platform also pays users a 25% commission on the interest earned by their referrals. And now, FreeBitco.in is giving away 2 million FUN Tokens to users that invite new people to their Premium Membership Program.
This bodes well for FUN Token. A higher growth rate means a consistently growing influx of crypto-enthusiasts and with FreeBitco.in promoting the token earnestly over the next year, FUN is set to become an attractive investment opportunity for the long-term.
Details of the 4th Edition of the Lambo Giveaway
The third edition of FreeBitco.in's Lamborghini Giveaway ended in October 2020. It attracted over 39 million crypto users after a lucky winner won 24.71 BTC in Round 2.
The giveaway is part of the platform's Golden Ticket Contest and the fourth edition is already live. Users perform certain actions, collect tickets, and in a provably fair system, a winner is picked.
As of Jan 29, 2021, BTC was trading at over $32.2k. FreeBitco.in's contests and giveaways provide a means for users to earn BTC without buying from exchanges or mining. Their integration of another liquid token listed on Binance and other leading exchanges could set the trend for other BTC and online gambling platforms to follow.
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