Usually, there are 2 kinds of people in betting: lucky and unlucky users. All this is due to the fact that traditional betting is opaque, and the industry itself has become more and more controlled. However, users remain interested in trying their luck in the fight for a big prize, so bets will always stay popular.
Anyway, the betting revolution is already underway: P2PBET has launched their first transparent betting platform. It’s based on the blockchain with bets being made in cryptocurrency. But, before we get into more details about their platform, let’s first look at what cryptocurrency and blockchain mean and how they can be related to betting.
Blockchain and cryptocurrency
A blockchain is a decentralized, distributed ledger that stores the record of ownership of digital assets. Any data stored on blockchain is unable to be modified, making the technology a legitimate disruptor for industries like payments, cybersecurity and healthcare. It can be compared to how a Google Docs document works. When a person shares their Google Doc with a group of people, the document becomes distributed among everyone who has access to it – thus, it becomes decentralized and transparent. All modifications in the document are recorded in real-time. Of course, blockchain technology is far more complicated and one can not make any changes once the code is written which makes it more secure.
A cryptocurrency, in its turn, is a form of digital cash that enables individuals to transmit value in a digital environment. Crypto functions on the blockchain and does not have a central bank or any party that can change the rules without reaching consensus.
By connecting the blockchain and crypto technology with betting, we get decentralized betting.
Decentralized bets on P2PBET?
Now that we’ve clarified how blockchain works, let’s check out how blockchain decentralization makes your betting experience fair and transparent.
-First, all the transactions happen on the blockchain and every user can track the transfers that happen on the platform. What is more – there are no delays and stops in transfers.
-Secondly, there’s no KYC on P2PBET which means they do not require their users’ personal info and nobody knows who the users are.
-The next point is about money safety. The users can be sure that nobody can have access to their money except themselves because the platform requires connecting MetaMask and TRC20 wallets.
-Moreover, unlike traditional betting, P2PBET does not regulate any rates, because all financial asset statuses are synchronized with the actual rates on Binance.
-The platform’s commissions are always fixed – 3% from the amount won. Such conditions are written into the platform’s smart contracts, ensuring no room for fee manupulation. You will never be deceived or kept in the dark.
More about P2PBET
With that being said, the points mentioned can guarantee the platform’s anonymity, transparency and unlimitedness. As a result, it is obvious that P2PBET made a great innovative approach to betting and revolutionized the industry with the idea of blockchain betting. Now, individuals who are keen on betting can enjoy the process peacefully using only their luck and professionalism.
Also, P2PBET launched a Free Game on their platform which is live right now: anybody can take 3 attempts to predict the BTC price by the end of the day, where the winner gets $100! The users do not need to invest any money to participate because the game is free. Also, as it has been launched recently, everyone who enters has a big chance to win by guessing a number closest to Bitcoin’s price. This is the perfect chance to give yourself a nice present before Christmas!
