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Join This Competition and Win More With Blockchain Betting 101

Disclaimer: The text below is a sponsored article.

Blockchain is revolutionizing the world, one industry at a time, and betting is certainly no exception. One of the companies helping build a decentralized future is Betmatch, an online betting platform that utilizes blockchain in order to remove the need to trust third parties. This helps maintain a transparent and seamless experience that also protects clients from fraud, scams and even banking fees.

The size of the betting industry and its effect on local economies means that an additional layer of transparency can only help. According to Statista, the overall online gross gambling revenue (GGR) in Europe is estimated to reach approximately EUR 24.7 billion by 2020 and is mostly generated by sports betting, as well as online casinos and online lottery. For comparison, poker accounts for merely 6% of the online gambling market in Europe. This number is also expected to grow: although the offline GGR should be staying near constant (around EUR 77 billion), this number might reach up to EUR 33 billion for online gambling by 2023, putting it at around 43% of its dominant offline counterpart.

One of the reasons why people may opt for offline gambling, even if it means being inconvenienced, could be the fact that security can be subpar on some platforms. Entering your credit card details can often feel like you’re giving away highly personal information, which is not the case if you’re paying in cash, no matter how far you have to walk. Enter Betmatch: a gambling service running on blockchain, powered by its ERC20 token, XBM. Should a player choose to use the XBM token in lieu of ETH, they can even save money by not having to pay commissions. No XBM, but you’d really rather not pay commissions? No problem. You can lease it out from other users, who then also get 50% discount share for all commissions. If you have no problem with commissions, you can use ETH for betting.

Join This Competition and Win More With Blockchain Betting 102

Betmatch solves several problems this way: there is no need for you to enter sensitive personal information – like credit card details – because you’re using cryptocurrency. They have absolutely zero access to your funds, since you’re keeping them in your wallet, under your own private key. Locking away your funds through a smart contract that only pays out if you win and automatically gives you the correct amount makes sure you do not fall prey to scams and nobody takes some change from you, hoping you won’t notice. And perhaps the best part for many: you do not have to leave the comfort of your home. And if that’s what you really want – if gambling is your reason to get some fresh air every now and then – you can take your laptop or mobile phone with you and bet on the go.

If you’re ready to start betting on blockchain but you’re strapped for funds, Betmatch has the solution: three lucky winners, chosen at random in two weeks (Saturday, December 14th, 2019, 11pm UTC Time), will each win a prize of 100$! To participate, open an account following the link here, and make a deposit. That’s all you have to do to participate! Once the winners are chosen, the article will be updated accordingly – but only with the winners’ usernames, not revealing any sensitive information.

If you have any more questions, feel free to leave them below! Betmatch employees will be checking the comment section regularly, offering assistance to anyone who might need it. Good luck!

BetMatch , 2019-11-29 18:37:00 ,

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NewsBlock © 2019 - 2020 All rights reserved.

NewsBlock © 2019 - 2020. All rights reserved.

While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

Featured Image from Shutterstock

Nick Chong , 2019-11-10 12:00:38

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