Why is Xbit beneficial?
We are going to see why can Xbit be a beneficial project? What are the advantages for the coin owners? And in general, if you are a coin holder, what will you gain?
And altogether, we are going to see what features this coin can provide for the people who have purchased this coin.
Xbit coin has been developed for the online casino Xbit and simply put, owning Xbit coins can bring value and benefit for the owners in two distinct ways. We’ll go through each completely to see exactly how people can benefit from this project and why it will be successful.
First off, coin holders can stake their coins.
By staking Xbit coins, users can receive an annual return of 5 percent, which is regarded to be quite a considerable return in international scales.
In this method the coins are frozen and are not transferable. For each year of staking, 5% return is given to the owners.
With the staking of coins, their distribution at exchanges will decrease. As a result the price of coins will increase. So this is another way in which owners and coin holders will benefit from the staking process of the Xbit coins.
Xbit Is Representative of Revenue Shares
The second way in which Xbit can be a beneficial and successful projects for all the coin owners is by owning the coins themselves and directly from that fact.
Why? Because XBT coins are also known as representative of revenue shares of casino Xbit.
The annual profit will be divided by the 800 million coins (including 400 million coins of early investors and 400 million coins offered to ordinary buyers – see section 2 for more info).
So, in general and simply put, anyone who has these coins will receive benefit and interest from the casino, through the coins as representatives of revenue shares.
Xbit is a coin that creates wealth and value, and the coin owners benefit from this generation of wealth.
Also, the project operators use this revenue to develop and improve the project.
Given that the starting price of these coins is very low, especially during the early stages, and also given the fact that its technical basis and value is so much more that its initial price, therefore it can have great and considerable growth.
It needs to be mentioned that users can use Xbit to play games and make deposits at the online Xbit casino, and also, they can use this coin as a financial tool to transfer money.
Technical Aspects of Xbit
In this section, we will go through the technical details of the Xbit coin to find out exactly what Xbit is and what its technical merits are.
Xbit, with the exclusive code coin of XBT, is a coin that has been developed based on the SHA-256 algorithm, which is the same algorithm that has been used in the development of another major cryptocurrency; Bitcoin.
The latest version of the source code has been used to design and develop the Blockchain network of Xbit.
However, this coin has its own completely independent and exclusive Blockchain network. So, unlike other coins that are built based on other Blockchain networks, Xbit is a fully independent coin with its own Blockchain.
The total cap of Xbit is 1 billion coins, which have all been pre-mined. One billion coins are created in this network, and they are distributed as follows:
400 million coins are provided to early investors who established the casino and the development team. With their investment, this whole operation, project, and casino have been established.
400 million coins are offered to ordinary buyers. The rest of the 200 million coins are provided to the business operators.
ICOs are done in order for the company or the project to collect funding.
But Xbit is different. Because Xbit has been created for a financial service that already exist; an online casino.
So prior to the coin, a financial service, a casino, has been already established with its special services and features. This online gaming apparatus, or this online casino accepts this cryptocurrency.
Those who purchase this coin will receive benefits and interest from the casino. This is exactly like buying stocks in the casino.
The starting price for Xbit would be low, but there is a very strong and solid technical basis behind the coin.
So, there is great potential. Since these coins are used in the casino, it is like buying stocks, and as the casino attracts more players and creates more revenue, the value of the coins increase as well.
It also needs to be mentioned that this casino it an official one with all the necessary permits.
What is Wrapped Xbit?
Wrapped Xbit (WXBT) is an ERC-20 token that represents Xbit (XBT) 30 Million WXBT on the Ethereum and 30Million WXBT on the Binance BEP20 (BSC) and 30Million WXBT on the Tron TRC20 blockchains.
A key advantage of WXBT is its integration into the world of Ethereum, Tron and Binance wallets, dapps, and smart contracts.
Through the main Website of Xbit and listed Exchanges, 1 Xbit can be converted to 1 Wrapped Xbit, and vice-versa. WXBT was created to allow Xbit holders to participate in decentralized finance (“DeFi”) apps that are popular on Ethereum.
The XBT that backs WXBT is transparently verifiable through a “proof of reserve” system that verifies the 1:1 backing between minted WXBT tokens and Xbit stored by custodian wallet mentioned in the Whitepaper of Xbit. WXBT is maintained by the Bit Gaming LLC.
A paper wallet for Xbit with 90 million Xbit coins has been created using Counos Paper Wallet for this purpose.
Please also note that “wrapping” or “unwrapping” XBT is available.