People who love betting can be divided into 2 categories: lucky and unlucky. This all comes from the fact that traditional betting is not transparent and the industry itself happened to become gimmicky and controlled by certain people. However, it’s always attractive for users to try their luck fighting for a big prize and that’s why betting will remain on the stage for centuries to come.
Nevertheless, the betting revolution is happening now: P2PBET has launched the first betting platform that is transparent as it is based on the blockchain and the bets are made in crypto. But before we turn to more details about their platform, let’s first investigate what crypto and the blockchain are and how they can be interconnected with betting.
What is the blockchain and cryptocurrency?
A blockchain is a distributed database that is shared among the participants of a computer network (nodes). A blockchain acts as a database as it stores information in digital format. 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 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.
What are decentralized bets on P2PBET?
Now we have cleared up how the blockchain works, let’s check how blockchain decentralization makes your betting experience fair and transparent.
- To start with, as with all the transactions that happen on the blockchain, 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 user info is not processed and they remain anonymous.
- The next point is about the safety of funds. Users can be sure that nobody has access to their money except themselves because the platform requires MetaMask and TRC20 wallets.
- Moreover, unlike with traditional betting, P2PBET does not regulate any rates, because all financial assets statuses are synchronized with the actual rates on Binance.
- The platform’s commissions are always fixed – 3% from each win. Such conditions are written in the smart contract and it leaves no room for fee manipulation. You will never be deceived or kept in the dark.
More about P2PBET
As you can see, all the factors mentioned above guarantee the platform’s anonymity and transparency. Consequently, we can clearly see that the P2PBET’s creators made a truly innovative approach to betting – they created blockchain betting which revolutionized the industry. Now, betting lovers can enjoy the process even more and rely on their luck and professionalism only.
By the way, the creators also launched a Free Game on their platform which is live right now: anybody can have 3 attempts to predict the BTC price by the end of the day and win $100! The participants don’t need to deposit any money to participate as the game is completely free. Also, as it has been launched recently, everyone has a big chance to be the closest to the actual price of Bitcoin. This is a perfect opportunity to get yourself a present before Christmas!