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Types of cryptocurrency scams

Types of cryptocurrency scams
Types of cryptocurrency scams

 Types of cryptocurrency scams

Cryptocurrencies are currencies that are available digitally. Cryptocurrencies are widely connected through many computers in a shared network. The government has no involvement in the management of Cryptocurrency transactions. Cryptography is the technique used by cryptocurrencies that helps them to manage cryptocurrency transactions. 

 

Why are people becoming victims of cryptocurrency scams?

People are becoming victims of crypto scams as scammers are utilizing various tactics to cheat cryptocurrency users and steal their digital money. The cryptocurrency scammers are smartly convincing their audience to invest in their so-called fantastic cryptocurrency investment offers. Once they get them to invest through them, The crypto scammers then disappear along with the money they receive from their crypto users. 

 

Reasons why people are still choosing Cryptocurrency trading?

Cryptocurrency users enjoy several below-mentioned benefits of using cryptocurrencies. 

  1.  Banks and other government bodies do not manage cryptocurrency transactions. If a person possesses cryptocurrencies, then they own those cryptos and operate their own transactions. 
  2. Another advantage is that Cryptocurrency transactions take place within a few minutes, but a wired money transfer may occur within twenty-four hours. 
  3. The transaction costs in the case of cryptocurrencies include little to no charges. 
  4. In the case of international crypto transactions, the blockchain network processes the transaction, and it does so within a fraction of a second. With this, we can easily note the point that Crypto transactions happen quickly and that too within seconds. There are no geographical barriers in the case of sending and receiving cryptocurrencies. People can send cryptos from any location and to anybody. 
  5. Cryptocurrency wallets keep the cryptocurrencies safe, and you can manage the cryptos with the help of your phone or a computer.
  6. Cryptocurrencies are advantageous for those who don’t have traditional bank accounts. They can manage crypto transactions from any location, without any hassles.
  7. There is no such requirement where cryptocurrency users need to provide personal information for the execution of cryptocurrency transactions, unlike the requirements laid out by central banks. Instead, the transactions can occur anonymously. 

 

How do cryptocurrencies function?

Let us understand how Cryptocurrencies function with the help of these below-mentioned pointers;

  1. Digital currencies are sent from one crypto user to another with the usage of a virtual or crypto wallet.
  2. For using the wallet, every user needs a private key. Without the private key, the cryptocurrency user cannot access their crypto wallet. 
  3. The crypto transactions are recorded in the public ledger. It is because of blockchain technology that counterfeiting cryptocurrencies seem impossible. 
  4. The data relating to cryptocurrency transactions are shared globally for verification purposes.
  5. In Cryptocurrency trading, when a public ledger records the transactions, the details related to the transactions won’t be revealed and therefore the Crypto trader will remain anonymous. 
  6. When you purchase a cryptocurrency, you also own a private key. With this private key, the transactions automatically get authorized on the blockchain network so that spending funds can be convenient and more manageable. 

 

Categories of crypto scams:

Below are the various categories of crypto scams. 

Blackmailing or extortion cryptocurrency fraud:

In blackmail fraud, the crypto scammer contacts the victim through email or call and mentions that there is some sensitive information about the victim, such as photos, videos, etc. The scammer blackmails that if the victim wants the data to be safe then they have to pay some money in the form of cryptocurrencies. If the victim does not make a payment in cryptocurrency, then the information will be released. The victim sends their cryptocurrency to the scammer. After receiving the crypto, the scammer just vanishes. 

 

For example, A gets an email from a person telling him that this person has his sensitive videos. Then this scammer starts to blackmail A and asks for a cryptocurrency payment; otherwise, they give an ultimatum that his videos will be released. A sends his Cryptos to the person because of his concern about the release of his videos. However, after some time, A realizes that he has lost his crypto and that person was a fraudster. 

 

Cryptocurrency investment fraud:

In cryptocurrency investment fraud, the fraudsters pretend to be the investment managers, managing cryptocurrency investments for their users. They contact potential traders about a so-called cryptocurrency investment opportunity and then promise that they will get a massive return on their investment. In reality, no such cryptocurrency investment opportunity exists, and it is a strategy used by scammers to trick crypto users into investing through them. 

 

Phishing fraud:

In this type of scam, you may get an email from someone asking you to click on a link. The link then leads you to a phony cryptocurrency website that requests you to provide your cryptocurrency login credentials. As soon as you enter the login credentials to your cryptocurrency account, it is accessed by fraudsters, and they steal your cryptos. 

 

Social media crypto scams:

Cryptocurrency users come across plenty of crypto investment offers on social media, some of which may seem too good to be true. In those offers, they may ask the crypto users to invest their money to get more investment returns. It may sound awesome, but in reality, those crypto investment offers are fake. 

 

Fake apps:

In this scam, Scammers create several fake cryptocurrency apps to get people to download them and get hold of their data. However, these fake cryptocurrency apps may look attractive, making people download, use, and directly send their money to these scammers.

 

What are some indications of a cryptocurrency scam?

Plenty of crypto scam indications are helpful to crypto users in protecting themselves from crypto scams. 

  • It is essential to avoid any crypto investment offer that sounds too convincing or tempting.
  • Don’t respond to the calls regarding crypto-investment offers that guarantee you more returns. 
  • Please do not respond to threatening emails asking you to send cryptocurrencies to keep your so-called personal information safe. 
  • Never respond to social media posts or advertisements that specify cryptocurrency investments. It is a possibility that they are fake.
  • It is not a genuine offer if you come across a celebrity promoting crypto investment offers. Please bear in mind that celebrities do not encourage cryptocurrency investment offers. 

Conclusion:

People who invest money in cryptocurrencies must know the warning signs of crypto scams to protect their cryptos. In addition, it is also a good idea to know about crypto scams. 

 

Join Coco’s Carnival Now and Win Up To $2,100,000 or a TESLA

Carnival bcc
Carnival bcc

Join Coco’s Carnival Now and Win Up To $2,100,000 or a TESLA

The World Cup fever starts to hype up in Qatar. As one of the sporting industry’s most anticipated major football leagues, fans are excited about the intense competition among the participating teams. This year, the World Cup will have 64 intense matches in different cities in Qatar, the first country in the Middle East to host such an event. 

The World Cup becomes more intense with the addition of BC.GAME. The Argentine Football Association recognizes the crypto casino platform as its crypto casino sponsor. BC.GAME is set to support the Argentine national team in its upcoming games. Due to this, the crypto-gambling platform will be able to reach wider audiences all over the world — the partnership between BC.GAME and AFA will provide football punters with an exciting experience of the 2022 Fifa World Cup.BC.GAME is offering promotions to its players throughout this year’s World Cup. Here are the promotions where BC.GAME offers players a chance to win up to $2,100,000 or a Tesla. Coco’s Carnival is a separate page created by BC.GAME for World Cup fans and sports bettors.

worldcup-bcc1

World Cup All-Winner Predictions

BC.GAME offers a $100,000 prize pool for those who submit their World Cup predictions before November 26, 2022. Sports bettors are to place their predictions on the winners of each group. From the winners of the knockout rounds, players will predict who will be this year’s world champion. 

Players with VIP 4 and above are eligible to join this promotion. They are welcome to participate for free and must submit their predictions by November 26, 2022, at 00:00 UTC. The prediction platform will automatically close on the specified deadline. Any submissions made beyond the deadline will be considered ineligible. 

To win a share of the prize pool, the predictions made by a player must be accurate. If more than one player makes the same prediction, the prize pool will be divided equally. Only one player per household is allowed to join the game. As part of BC.GAME’s policy, multiple claims or players with combo bets will be disqualified from the promotion. 

Upcoming World Cup Promotions from BC.GAME

BC.GAME will release the details of the other two promotions soon, offering a $2,100,000 prize pool and a Tesla. Players can access the game details for $2,100,000 from November 20, 2022, until December 19, 2022. Players interested in joining Coco’s Tesla Giveaway may access the promotion’s details from November 20, 2022, until December 10, 2022. 

coco tesla giveaway

AFA and BC.GAME Partnership

The global partnership agreement of these big names will open a way for crypto-casino gamers and football fans to enjoy both the benefits of cryptocurrency and the excitement of football matches. Both brands are committed to providing revenues on both ends. 

The partnership will focus not only on the World Cup but also on the upcoming leagues in which AFA is participating. AFA and BC.GAME are seeking engagements with Argentine team members and crypto casino players.

According to AFA, their partnership with the winner of the 2022 Crypto Casino of The Year award is an opportunity for fans and players to embrace the emerging technology of the blockchain industry. With the help of BC.GAME, AFA will be able to create digital products as their other source of income. 

About BC.GAME

BC.GAME is a crypto gambling platform that offers various online casino games, live casinos, and sports betting opportunities. The platform has been around for 5 years and holds a Curacao license for operation. With its integration of cryptocurrency and blockchain technology, players will have access to the benefits provided by both technologies. 

The crypto-gambling platform is not only accessible on a computer. Players who wish to bet can also access it through their smartphone’s mobile browser since the site’s interface is compatible with mobile phones. 

Now that the website has been redesigned, it offers more features that should be enjoyed by all its players. Sports betting is now included in its gaming portfolio. People who wish to bet on major leagues, especially the upcoming World Cup, are offered different promotions and bonuses. The platform is also open to receiving fiat currencies aside from the cryptocurrencies it currently supports.

Custodial vs Non-custodial wallets

Custodial vs Non-custodial wallets blog
Custodial vs Non-custodial wallets blog

Custodial vs Non-custodial wallets

Posted on January 13 2021 – By Yada Wallets Team

Last updated on 10 December 2021

When it comes to storing your cryptocurrencies we often hear the terms Custodial and Non-custodial. In this blog, I will explain to you what both mean in simple terms and have a look at why people choose a custodial or a non-custodial wallet.

Custodial Wallets

To understand what a custodial wallet is we first must understand how a cryptocurrency is stored, or rather how to access them. To access someone’s funds on a blockchain network, like for example Bitcoin there is only one way, and that is by being in possession of the private key. The private key is like a big password that shows the network that you are the owner of the funds allocated to the public key that can be generated from that private key.

More simply put, having access to the private key means having access to the funds. When a wallet is classified as a custodial wallet this means that they store and protect the private key for you in a similar way that a bank holds on to your money when you store it with them.

Non-Custodial wallets

A Non-Custodial wallet is basically the opposite of a custodial wallet, meaning that whereas with a custodial wallet the company behind that wallet has access to your funds, with a Non-Custodial wallet only you have access to the private key and thus the funds. A Non-Custodial wallet is comparable to having cash paper money in your wallet and/or safe.

Custodial Pros and cons

Although custodial wallets are not very popular in crypto culture, they do serve a purpose and can be very useful, especially for newcomers. Here are some of the Pros and cons of using a custodial wallet.

Pros

Crypto bank
  • Because Custodial wallets are in possession of the private keys and thus your funds it leaves you with some ease as you do not have to worry about keeping them safe yourself. Similar to keeping your money with the bank so you are not being bothered to protect it.
Cheap(er) transactions.
  • You usually have to pay a fee when making a transaction on a blockchain network. However, the easy thing with custodial wallets is that you can usually send funds to someone else how is with the same custodial without paying a fee as the transaction is not recorded and stored on the blockchain.
User interface
  • As you do not have to directly store and safeguard the keys yourself. the custodial can make the interface much more user-friendly and less technical. This can be practical for beginners that do not understand how the whole ecosystem works.

Cons

No direct ownership
  • Meaning that if a custodial got hacked or goes bankrupt, your fund probably goes down with the custodial. Depending on the insurance the custodial has and if it can still continue to operate.
Identification
  • As with a bank, you will have to go through a KYC process to identify yourself. This is demanded by law in most countries and gives you less privacy.
Restriction
  • Because of the fact that the custodian controls your fund and knows exactly who you are. Governments and/or the custodial can cease your funds or refuse service to you for whatever reason they find legit. In countries where there is a lot of inflation, this happens a lot as the governments of these countries usually do not what you to abandon their hyper-inflated currency.

 

Non-Custodial Pros and cons

Pros

100% Ownership
  • You are the only one who has access to the fund with a Non-custodial wallet. Making you 100% in control of the funds giving you the freedom to spend whenever, wherever you want.
Anonymity
  • Because of the nature of blockchain systems, you do not have to identify yourself. Giving you the possibility to stay anonymous if you want to.
No downtime
  • Because a non-custodial wallet does not need to be connected to any central server but only to the blockchain network of choice, it is online 24/7. Whereas with a custodial wallet it could be possible that the wallet is offline for software updates or any other reason.

Cons

Responsibility
  • With a non-custodial wallet, you are 100% responsible for the safekeeping of the keys, where you send the funds, and more. This is usually a good thing. But if you do not know what you are doing, and you are making a mistake or lose the private key (or backup) this can cause a permanent loss of funds.
Technical user interface
  • Controlling your own keys also comes with the technicalities of them, giving you usually less of a user-friendly interface and requires a bit more technical knowledge of the blockchain system.
Onchain fees
  • Controlling your own keys also comes with technicalities. Giving you usually less of a user-friendly interface and requires a bit more technical knowledge of the blockchain system.

Conclusion

Whether a custodial or a non-custodial wallet is better for you really depends on your experience with blockchain wallets. The amount of responsibility, and the control you want to have.

If you are new to blockchain wallets. We would recommend you start with a small amount (that you could lose) and test out some wallets that you deem fit for you.

When you’re using a custodial always make sure that you can trust the party that hosts the wallet. Just like you would do with a bank.

We hope that our Custodial vs Non-custodial blog helped you get a better understanding of the crypto space. If you have any Questions regarding Blockchain or Bitcoin? Feel free to ask them on our Facebook or Telegram group. We are happy to help whenever we can!


If you are ready to start using crypto now, you can easily find the best crypto wallet on our website. Here you can filter for the different types of wallets (Mobile, Computer & Hardware) and read the opinions of others. Take a look at our wallet finder functions today!

BC GAME Invests 700 ETH in NFTs for a Better Metaverse

BC.GAME Invests 700 ETH in NFTs for a Better Metaverse
BC.GAME Invests 700 ETH in NFTs for a Better Metaverse

BC.GAME Invests 700 ETH in NFTs for a Better Metaverse

BC.GAME has invested 700 ETH in multiple NFTs with the ultimate goal of boosting the metaverse and iGaming sector. The ETH amount has been spread into 5 BAYC, 3 CryptoPunks, 1 Clonex, 2 Azuki, and 3 latest Art Gobblers.

The cost of 700 ETH is believed to help the crypto industry provide a better metaverse ecosystem for its users.

In the context of boosting the metaverse ecosystem, BC.GAME developed a new crypto iGaming platform that supports multiple chains and web3 ecosystems. And with this occasion, it will organize an NFT giveaway with significant prizes.

BC.GAME improvements

The Crypto Casino of the Year, BC.GAME, has decided to support the metaverse in providing a new and better user experience. This initiative is just one of the numerous actions taken by BC.GAME to ensure that all of its players enjoy the best service and features available in the crypto market.

BC.GAME invested in 5 BAYC, 3 Crypto Punks, 1 Clonex, 2 Azuki, and 3 latest Art Gobblers at a total cost of 700 ETH. Also, it bought a complex collection of NFTs that is currently available. The BC.GAME NFT collection is ready on Open Sea, the largest NFT marketplace, where users can buy and sell NFTs using smart contracts.

In addition to supporting the evolution of the metaverse concept, and the NFT investment, BC.GAME created a crypto iGaming platform that supports multiple chains and web3 ecosystems. The multiple chains offer efficiency for buying, operating, and researching and eliminate the middleman. Also, the web3 ecosystems have numerous advantages, like control over data ownership, interaction freedom, and better security.

BC.GAME NFT Giveaway

BC.GAME constantly provides improved features and organizes giveaways. Recently, it announced that it launched a new NFT giveaway.

 

The NFT giveaway rewards are the following:

  • Mystery Box(2.5 ETH worth NFT) for 1 winner(s)
  • Meka #3895 for 1 winner(s)
  • Meka #5369 for 1 winner(s)

More about BC.GAME

BC.GAME is a community-based cryptocurrency casino that revolutionizes the casino industry and the blockchain world by being one of the first casinos to support the Lightning Network. Since its launch in 2017, the platform has provided players with the best online casino experience.

BC.GAME is the Crypto Casino of the Year 2022, thanks to its numerous prestigious awards from the industry. The platform now accepts fiat payments in addition to many popular cryptocurrencies. Also, BC.GAME provides industry-leading igaming solutions within the web3 community, and supports NFTs as an asset for gambling, recharging, withdrawals, exchanging, and other services.

Since the recent incorporation of sports betting, users now have access to over 8,000 games, including sports, slots, live table games, and even the well-known Bitcoin (BTC) crash game.

In addition to the new features of the platform, those who are not yet familiar with the BC.GAME platform should know that it offers numerous benefits for new users. On BC.GAME platform, users can sign-up on the website and get up to 1 BTC. Also, they can instantly redeem a 300% deposit bonus after registering. These are just a few of the many benefits offered to players.

Contact

More information is available on the official BC.GAME website and their socials, Twitter and Telegram.

 

Do all cryptocurrencies have intrinsic value?

Do all cryptocurrencies have intrinsic value
Do all cryptocurrencies have intrinsic value

Do all cryptocurrencies have intrinsic value?

With the thousands of crypto tokens and coins that exist today, many wonder if any of them even have intrinsic value. Mostly because some big names in the financial world have said that they don’t. 

Although not every cryptocurrency is valued the same, some really do have intrinsic value. Making their price rises more than just hot air. However, most cryptocurrencies derive their value from a different aspect than your traditional assets would. Mostly because each crypto is different. Which brings many other aspects to their valuation. Because coins like Bitcoin will have a different use case than the $Chain token or a Catgirl coin

What is intrinsic value?

Intrinsic value is a thing that highly depends on who you ask and what intrinsic value would stand for exactly. Because there exists no universal way to measure or define the intrinsic value of something. But if we define it by the dictionary definition of intrinsic value. We can say that the intrinsic value of something is defined by the value that something has by itself. 

One example of this could be gold where its intrinsic value comes from scarcity. Or with oil that could be used for energy production. These are features that these things have by themselves. Without anything else boosting the value from outside. 

When it comes to crypto it might sometimes look like they do not have intrinsic value for people that do not understand their use cases. Especially as there are many different cryptos that for a newcomer might all look the same. This is however not the case as many of these crypto projects have their own use cases that give them value. But that is not the case for all projects. As some coins/tokens will be created just to be created. And do not come with any use case or future improvements. These projects could be seen as worthless. But the line for this can be a bit blurry when it comes to meme coins. More on this later.

Where does Bitcoin get its value from?

Cryptocurrencies like Bitcoin have been spoken out against by large names in finance like Warren Buffet and Charlie Mongers as a product without any intrinsic value. However the comments from these two successful entrepreneurs. It is clear to most that understand Bitcoin that these two gentlemen do not understand Bitcoin’s use cases. 

Bitcoin has several use cases by itself and because of its upgradability, it could even gain more in the future. However, we can not see that future yet. So let’s just focus on the things that make it already one of the most valuable assets in the world. 

3 reasons bitcoin has intrinsic value

3 Reasons Bitcoin has intrinsic value

Digital scarcity

Just like gold Bitcoin has a finite amount of it making it resistant to inflation. Even though that is not completely fair as gold does inflate over time as we find more gold on our own planet or on others. Bitcoin however will only ever have 21 million Bitcoins. Which makes it the ultimate scarcity asset. This is one of the most important aspects that give intrinsic value to Bitcoin. Especially in a time when almost all countries experience higher than usual inflation rates.

The global high-speed payments network

Have you ever tried to send some Euros from Germany to someone in Taiwan? You probably have not. However, if you have ever had to send a financial transaction between countries or even from one currency to another. You will have noticed that it takes super long and you will pay extremely high fees for doing so. 

With Bitcoin, you will pay a fee much lower than with any of the traditional financial payment rails. Plus your transaction will be confirmed within 10 minutes instead of a few days. And that would be on the main Bitcoin chain. If you do it on a Bitcoin sidechain like the lightning network, the transaction would cost less than a cent and take not even a second to be confirmed. 

Financial programmability layer

Next to the first two mentioned things. Bitcoin is fully digital, programable, and upgradable. Making it possible to run other financial infrastructures on it. This way Bitcoin functions as a value and security layer for other protocols that would like to make use of Bitcoin’s security and permissionless network.

All of these things made Bitcoin so popular over the last few years. And add give Bitcoin its intrinsic value. With more use cases and innovations to be likely developed on top of its network in the future.

Why Meme coins hold value

Meme coins do not really give any value to their users like Bitcoin. They usually exist on another blockchain and have an inflationary model. So why would they even hold value? Well, it’s complicated. Really they should not hold any value. However, the communities around these meme coins bring a unique form of value to these coins. Which is a community value. Most meme coins fully rely on this. 

This means that holding coins will make people more included in that meme coins community and thus spur the holding of the token. As this is still a new principle, no one can really 100% say how this will end up in the long run. But so far many meme coins have come to market with a strong community that gives a form of social value to them.

Is crypto backed by anything?

In most cases no. Most cryptos are not backed by any physical asset. But this does not mean they do not hold any value. Cryptocurrencies derive their value not from physical world backing but rather from the use cases they provide for their users. These can be things such as payment rails, computational networks, file storage, and many more things. 

Not all cryptos are created equally though. With many tokens like USDT and USDC that are being backed 1 to 1 with the US Dollar. These tokens we call stable coins as they should hold a price-stable to the fiat currency they’re linked to. These stable coins exist for almost all fiat currencies like the Euro and Dollar. But also for certain precious metals like gold and silver. And in some cases can also represent other assets like stocks or houses. 

Most cryptos do not derive their uses case from these sorts of things, however. But rather the ones that we mentioned before plus some extra use cases that are token specific, like governance power, or profit-sharing. 

Why do people think crypto has no intrinsic value?

As we said there are a lot of big names in finance that claim that crypto has no intrinsic value. But why do these people say this, especially as these people should very well understand the financial model behind them? 

Well, the answer as usual is not that simple. But what we have noticed ourselves is that it comes usually from 2 main things. The first one is simply a lot of the people that spoke out against it simply did not understand its financial model because of its technical aspect. This is sadly often the use case with older people that are not that used to the use cases of the technology. The investor type that does not use a smartphone will probably also have a hard time understanding why cryptocurrency could be useful when they do not even understand a simple smartphone. 

The other reason we believe that some of these people speak out against it is because of their professional position. These people are often central bankers or large managers of fiat currency. These people would of course be against it as it is against their own interests and careers. Just like a butcher would not tell you to buy veggie burgers. And a Mark Zuckerberg won’t recommend you to start using Snapchat.

Final word

We hope this blog thought you a bit about why cryptocurrencies hold intrinsic value and why some do. And why some people think they do or do not think they should be worth anything. If you have any other crypto-related questions for us that you would like to have answered in a blog. Then feel free to contact and follow us on our socials.

BC GAME Launches its Redesigned Website with New Features

bc game announcement
bc game announcement

BC.GAME Launches its Redesigned Website with New Features

BC.GAME announced the official launch of its new website, integrating better features and advantages for its users.

Named the Crypto Casino of the Year, BC.GAME is one of the most popular crypto casino platforms. Now, in order to provide a better experience for users, it will launch a redesigned website, giving its players the best experience and satisfaction worldwide.

In addition to the release, BC.GAME signed two new partnerships with AFA and Cloud9.

The Redesigned Website of BC.GAME

BC.GAME’s new website will have a new UI layout, with a cleaner and slicker aspect compared to the old version.

At the same time, the new website will allow players to select different languages for the interface, translating the descriptions for a better understanding. The new languages available on the website will be Portuguese, Indonesian, Russian, Vietnamese, Korean, and Spanish.

Furthermore, BC.GAME recently signed new partnerships with two of the most recognized names in football and eSports — AFA and Cloud9. These will be displayed on a special page dedicated to sponsors. This particular section is designed so the community can stay updated about the latest events involving the casino’s partners.

New Features for BC.GAME’s Users

One of the most critical aspects of the new BC.GAME website will be its updated security. With new security characteristics such as a new Official Staff Verification page and an updated KYC feedback feature, players can now enjoy a better and more secure casino experience.

Moreover, users will now access helpful content thanks to the new design, including game recommendations specific to each user, information about the game developers, and game descriptions.

New interactions were also added to the website, with users being able to rate, like, comment, share, and offer feedback on the games they play.

Chris, Chief Operating Officer at BC.GAME shares his thoughts about the new updates on the BC Game website: “The iGaming industry moves fast. Keeping up with it is no small feat. As industry trailblazers, we pride ourselves on doing more than just staying ahead of the curve. Our goal is to create the curve. The only way to accomplish this is by keeping the communication channels with our community open. On behalf of the BC.GAME team, I would like to thank our loyal community for all the feedback and suggestions they gave by presenting this latest upgrade.”

About BC.GAME

BC.GAME is a community-based crypto casino that aims to provide its users with a distinctive and high-quality experience. Launched in 2017, BC.GAME is among the first casinos to support Lightning Network, revolutionizing the casino industry and the blockchain space.

Users now have access to more than 10,000 games, including sports, slots, live table games, and even the well-known Bitcoin (BTC) crash game, thanks to the recent addition of sports betting. BC.GAME was named the Crypto Casino of the Year 2022, thanks to its numerous awards from the industry. The platform now accepts fiat payments in addition to several popular cryptocurrencies.

Contact

More information about the launch and other services provided by BC.GAME is available on the official BC.GAME website.

5 Industries That Can Take Maximum Advantage of NFTs

5 Industries That Can Take Maximum Advantage of NFTs
5 Industries That Can Take Maximum Advantage of NFTs

5 Industries that can take maximum advantage of NFTs

The public interest in the immersive and latest digital modes of living is increasing and they are investing in the digital assets to prepare themselves for the metaverse future. The pandemic after the COVID had a great contribution in pushing the world further digital and the remote works, isolations and the growing digital nomad class amplified the necessity of utilizing the online world. Thanks to the 3D world like Fortnight, NFTs Facebook Horizon, Decentral and, Sandbox, and other digital innovations like the Crypto economy have become a daily routine for all kinds of people mainly the teenagers known as Gen-Z.

The business sector especially the investors has broadly accepted the virtual economy. The value of Bitcoin has been fluctuating and a truly decentralized economy has been developing around NFTs and cryptocurrencies. The public has been investing a ridiculous amount of money in digital lands, digital lands, art, and wearables. NFTs had been ridiculed initially but over time, they have become an integral part of this new digital reality.

The proponents of NFT and Crypto are now dealing with questions that how to sustain and create real value for the digital assets they own. How will they be used and who will use them for what purpose and where? NFTs will mainly be used as a kind of economic exchange within the metaverse but the myriad of metaverses are emerging and which will survive? The real-world utility is also questionable.

NFTs as The Revenue Model for The Metaverse

As far as the definition of NFT is concerned, the Ethereum website defines them as tokens used to represent ownership of any unique items. The NFTs allow us to tokenize stuff like collectibles, art, and even real estate. There can be only a single owner at a specific time and the Ethereum blockchain would secure that ownership in the sense that nobody can modify the ownership record.

The NFT trend has engaged the public greatly as the sales are growing in staggering numbers. According to a report the NFT market has grown in size to $3.0 billion and it is expected to grow further by 2017 to $13.6 billion. The total number of sales recorded on Ronin, Ethereum, and Flow blockchains as of June 15 this year was 20.4 thousand.

A few of the most successful NFT projects so far have been from the Art, Gaming, Avatars, and music industries:

·       Beeple
·       Cryptopunks
·       Bored Ape Yacht Club (BAYC)
·       Art Blocks Curated
·       Kings of Leon
·       Rarible
·       Cool Cats
·       Mutant Ape Yacht Club

Here are few of the major industries to get a boost from NFTs:

1. Luxury and Consumer Goods

The companies like Stella Artois and Ben & Jerry are CPG, consumer packaged goods, and they are about to launch their NFTs and there are whiskeys available for sale on BlockBar. Moreover, the yacht brands and luxury collectible brands of automobiles have also initiated tokenizing their products. You are also able to design your own car of digital McLaren for Formula one and later tokenize that. It happened in 2019 that an anonymous customer paid USD $110,000 for the NFT related to the first digital car of Formula One. That car was created for the F1 Delta Time game related to blockchain.

There are still many people who consider NFT-craze as a reckless gold rush and the debate related to the utility and value of NFT seems to be getting over for major brands.

2. Event Organizations

The second market of $15.9 Billion for event tickets has become challenging for event fans and promoters worldwide. The sites for second-hand tickets involve fraud, scalpers, unreasonable prices, and all kinds of bad actors. The promoters meanwhile rarely get minute earnings from the ticket sales after their investment and hard work. A few of the fan-first players such as Tixel and Ticket Swap have attempted to resolve the problem related to, strict price control and algorithms for AI fraud detection. The Bad actors still manage to penetrate through every barrier.

The NFT-based ticket platform like TicketFairy has come up with a solution for the second-hand market. The NFT-based tickets can be tracked and validated back to the authentic creator. Moreover, you can use the NFT tickets for metaverse and virtual events along with attendance proof. The event promoters are closely observing as the ticket platforms move towards solving the problems related to the second market.

3. Advertising Industry

Most brands embrace the innovations happening because for the sake of survival it becomes necessary to adapt to the changes. The NFTs are going to help the brands stay ahead in the competition. Among the most famous NFT marketplaces currently is from NBA in the United States. The NBA has acted smartly in terms of marketing and they are selling the old video clips with “NBA Top Shots” as memorabilia of the old trend of collectibles. If you buy the short video clip, you will become the owner of the clip and the ownership becomes available for minting on the block chain. This may sound weird but it is essential to remember that collectors are crazy about collecting. The psyche of a collector works in the hope that there is a buyer who is going to pay more for this in the future. Soon there will be other sports following the trend like Cristiano Ronaldo has also been involved in the NFT space and this is going to be a revolution in the advertising world.

4. Art Industry

The Art industry had been under various custodians who handle important components of the intellectual properties of the artists. Those people include galleries, brokers, labels, and agents. These arbiters decide the distribution and sale of the work by any artist, either a painter or a musician, and they look after the distribution of the earnings.

The NFTs have helped the artists greatly because it eliminates the roles of the middleman and enjoys ownership independently. The artists are free to deal with their fans or buyers directly and they will be able to retain their intellectual property for all art pieces. The artists will have consistent control over their streams of income in the resales form. One of the most expensive NFTs sold was Beeple and other artists like Kings of Leon have also arrived in the NFT space with many others to come.

5. The Fashion Industry

NFTs have also inspired the fashion industry. According to Vogue Business Index, 17 percent of brands have started their brandings with NFTs. One of the famous fashion brand, Dolce & Gabbana, have gained about $6 million for a digital NFT collection. Moreover, Burberry has released one of their NFT collections within a Blanks Block Party game. The NFTs in the fashion industry have the power to tap into communities worldwide while providing the brands with top value-based revenue. This allows the brands to create hype around any product launch and grow more business returns.

Conclusion

The business and crypto experts believe they are still at the beginner stage of adopting NFTs. There are going to be far more exhilarating and enticing NFT-related collaborations in the near future.

Meta Description

The NFTs have started disruptions worldwide across industries as their popularity and value are constantly increasing.

Author Bio

Jawad Junejo is a content specialist having a Master’s degree in English Literature.  He writes engaging and insightful marketing and tech-related articles and blogs. When he is not writing, you can find him listening to music, reading poetry, watching football and traveling.

BC.GAME X Argentine Football Association

bc game argentina
bc game argentina

BC.GAME announces its sponsorship agreement with the Argentine Football Association

The Argentine Football Association and BC.GAME, the crypto casino platform that won the award for the best crypto casino of 2022, have reached a global sponsorship agreement.

The Argentine team will have the support of BC.GAME during the coming months and during the World Cup matches in Qatar. This agreement represents a new sponsorship contract within the National Teams platform, which already exceeds 25 brands that are part of it.

This agreement is one more expression of the progress and international scope of the AFA brand, involving new audiences and new sources of income created through various categories.

AFA and BC.GAME will collaborate for the next six months.

Claudio Fabian Tapia, President of AFA, said: “We are very happy to present this new agreement with BC.GAME. At AFA, we are always looking for opportunities to harness emerging technologies, enhancing the experience of our National Team fans. This agreement allows us to create new digital products and by this generate a new stream of source of income. We welcome BC.GAME as a new commercial partner of our Association.”

Chris Butler, Chief Operating Officer, BC.GAME, said:  “The Argentine Football Association has proven to be one of the most intuitive organizations on the planet. We, at BC.GAME were thrilled to find that many of our long-term goals were in perfect alignment with the AFA’s plans to form partnerships with the top companies in the blockchain industry. Moving forward, our aim is to introduce mutually beneficial revenue streams as well as unhindered access to our massive community of gamers, punters, and football fans who frequent the BC.GAME Casino and social channels. As exciting as this is for all of us at BC.GAME, we are equally humbled to have this opportunity.”

Leandro Petersen, Chief Commercial Marketing Officer of AFA, said: “BC.GAME is at the forefront of this new virtual betting category. The platform uniquely combines digital currencies with vivid gambling platform.  Argentina National team fans around the world will get closer to the players they love. We’re excited by the potential for this sponsorship and look forward to the commence of the World Cup. It is important to continue generating new revenue streams for the Associations and constantly increasing strategic sponsorships that increase the presence of the AFA brand throughout the world. This agreement with BC.GAME responds to these items. We have more than 25 brands working on the National Teams project together with AFA and we will continue to grow in new areas and territories.”

ABOUT BC.GAME

BC.GAME is a community-based crypto casino that offers their players the best online casino experience possible. Launched back in 2017, BC.GAME is among the first casinos to support lightning network – not only revolutionizing the casino industry but also the blockchain space. With recent addition of Sports betting users can enjoy more than 10,000 games, including but not limited to sports, slots, live table games, and even the most famous bitcoin crash game. Recently in 2022, the BC.GAME has won multiple awards by the industry, making it the number one Crypto Casino of the Year (PR News Wire, 2022). It offers almost every top Cryptocurrencies and also has started accepting fiat payments recently.

Is blockchain decentralized or centralized?

is blockchain decentralized or centralized
is blockchain decentralized or centralized

Is blockchain decentralized or centralized?

Although the nature of blockchains is to be decentralized. Not all blockchains are. Some are centralized and some are decentralized. With a lot of debates going on these days about whether or not some blockchains are decentralized enough. And if that will cause some problems along the way. 

What is Centralization 

Centralization simply means that the control of any system or organization lies in the control of one entity or person. This gives a control point of control which might sometimes be useful to make fast decisions. 

For example, the decision of what you will have for dinner tonight might be better taken by you alone than by everyone in your neighborhood. Because if you would actually ask everyone about what you should eat that night. The probability that you will eat that night will be very very small as it will take too much time. Centralization is simply good for fast and efficient decision-making. 

What is decentralization

When it comes to more important decisions we might want to decentralize a bit more. This means we want that decision to not be made from one central point. The benefit is that you would not have one point of failure and you also include more people. 

A democratic government for example is decentralized decision-making with a centralized form of control. When it comes to serious things like our money for example we would not want this to be controlled by one single organization that could make mistakes, like printing so much money that we have super high inflation. 

Having a decentralized money type would prevent this as everyone in the system would have to agree to high inflation before that would happen. But no one would likely vote on high inflation. So it wouldn’t really occur.

Different levels of Blockchain decentralization

There are many different blockchains already that all have their own purpose and also their own unique blockchain-based system under them. Because each of these blockchains has its own properties, they also have their own level of decentralization. 

Decentralization with POW

Let’s first look at a POW (Proof of Work) blockchain like Bitcoin. Bitcoin makes its system decentralized by giving everyone the option to put in the work (electricity) to validate transactions. This is nice as it brings in a profit for miners if done right. Mining BTC however becomes more and more difficult making it not a profitable thing for everyone anymore. 

However, besides mining, the Bitcoin network also allows its users to be part of the network in another way. This is by holding a copy of the public ledger and sharing this with all others on the network. Holding a copy like this gives you control of all the transactions and will allow the node (node is a copy of the ledger that is online) holder to have a copy of all the data saved on the Bitcoin network. 

Nodes are essential as they hold the data that makes up the network. So having a node also equals having a vote in the network as they can choose whether they support this network or another. 

The last thing how users decentralize Bitcoin is by holding coins themselves. As the whole system uses encryption it is not possible to just take coins out of one account without owning that account (having access to the private key). Even if a transaction would be denied by a certain miner they would not have the option to take the funds. The control over the funds will always be in the hands of the owner. 

Decentralization with POS

POS (Proof of Stake) is another consensus mechanism that some blockchains use. Ethereum for example will move or might already have moved to POS when you read this. 

POS uses a blockchain but does not mine. POS uses a staking validation method. This means that people that want to validate the network’s transactions and store the data need to lock up a large number of the network’s tokens. This will reward them with transaction fees and sometimes also some token inflation (depending on the network).

A POS network can be very decentralized but it could also not be. This really depends on the number of validators the network has. For example, many blockchains like BSC only have 21 validators. Although they are trying to increase this at the moment. Having a low number of validators, however, makes a blockchain network more centralized and thus more at risk of being shut down. Besides that, the number of tokens one holds will function as a vote in the network. Making it so that large token holders could take control if they would like. 

Can Bitcoin move to POS?

how decentralized should a blockchain be

How decentralized should a blockchain be?

Although there are different levels of decentralization for blockchains. Some models might be better for one use case and not for another. As each model comes with its own benefits like speed, decentralization, cheap transactions, etc. 

When it comes to a blockchain that needs to represent a currency and store of value. A model like Bitcoins might be the best. But in cases like other more smart contract focussed blockchains, this might not be necessary. As it is more important to make the network more advanced faster and thus a little less decentralized. 

Are crypto tokens decentralized?

We do have a lot of different blockchain networks that all have their own level of decentralization. But what about the crypto tokens? 

Well, crypto tokens are tokens that live on top of another blockchain. How centralized that token is, depends thus almost fully on the underlying blockchain. But besides that many tokens are also controlled by the contract creator. Making it so that they can freeze transactions etc. 

Check out how to find Ethereum contracts here!

This is the case for many stablecoins like USDC and USDT. Their contracts are controlled by the creators of both stablecoins. In this situation, it is actually good as they need to be able to abide by the law and interfere in transactions whenever needed. But for other tokens, it might be better if the control is held in a different way. 

Some tokens do this by having a DAO (Decentralized Autonomous Organisation). These are basically the owners of the token contract and make it possible for token holders to vote on proposals and upgrades to the token. For now, this is the most decentralized it gets when it comes to crypto tokens. 

 Looking out with centralized tokens

Whenever you’re using a centralized token, always be sure who is behind it. As you do not want to risk holding a token that can be inflated like crazy by the contract creator. This has happened before to many people. And is one of the most common ways people get scammed in the crypto industry. 

Luckily we can solve this with DAOs and on-chain governance. So always make sure that the contract is either created by a trusted party or has a way of decentralized governance attached to it.

Final word

I hoped this blog has thought you something more about the centralized and decentralized nature of the blockchain. And how both POS and POW have a different few on and take on decentralization. If you like this blog please check out our others and give us a follow on Twitter.

How do you find Ethereum contracts?

How do you find Ethereum contracts
How do you find Ethereum contracts

How do you find Ethereum contracts?

Getting started with smart contract blockchains can be difficult sometimes. Especially if you are looking for things like a specific token or Dapp contract on the Ethereum blockchain. Luckily there are tools that help us explore the blockchain and see what contracts run on them and the details about them.

To find a contract on Ethereum you can use the EtherScan block explorer. This tool will let you search for any contract that runs on its network, from simple ERC-20 tokens, NFTs, to Application contracts that make decentralized exchanges. 

This way you can ensure that you interact with the correct token/application on the network. The could prevent scams. But also lets you check if a transaction went right and see why, if it did not go through. 

What are Ethereum contracts?

Contracts on Ethereum are called smart contracts. We call them this because they can execute automatically if certain conditions are met. This means that when for example person A pays person B, person C will automatically pay person A. Some would call this an “if this, then that”. Which basically refers to the automation of contracts. This contract programmability on the Ethereum blockchain is what makes it so popular, and because it was one of the first of its kind it also became the biggest. 

The contracts on its network are what make it possible for tokens to run on the chain. But also makes decentralized applications possible. This has resulted in many games, tokens, marketplaces, and many more things that currently live on top of it. Without contracts like these Web3 would not have been possible and the blockchain space would have looked much different right now. 

In what language are Ethereum contracts written?

The smart contracts on Ethereum are written in a programming language called “solidity”. This programming language was born and became popular together with the Ethereum blockchain. But is not only tied to Eth anymore. Because of the standard Ethereum set with its EVM (Ethereum Virtual Machine), many other blockchains have copied its model and tried to give their spins or upgrades to the idea of a smartcontract-focused blockchain. 


Many of these chains run an EVM on their own network. Making it very easy for developers on other chains that also have an EVM to migrate. Besides drawing in a lot of developer talent they also make it possible to connect their network to any EVM wallet

This has already created a large network of EVM chains that all connect to each other through blockchain bridges and all have their own benefits. Making a big multi-chain world possible. 

Find everything on the Block explorer

On a block explorer, you can find anything related to that blockchain. From old transactions to the smart contracts that run on it. Because of the nature of a blockchain, all transactions once recorded on it will always stay on the public ledger. Meaning that every single transaction you make will be on the network for as long as that network exists. This makes it easy to figure out how or what happened on the network before. As long as you know the address, you can trackback any of your old transactions. If you have already made some transactions before on networks like Ethereum, Avalanche, or the BNB Smart Chain, you could look them up by using a block explorer.

Ethereum contracts on other blockchains

As mentioned before all EVM networks run an EVM, making it easy for developers to deploy their smart contracts on more than one network. This can give them more exposure to the liquidity of other chains. But also lets its users use their products with more security, faster and or cheaper transactions.

Many larger Dapps like Uniswap thus make use of this and have their super popular market deployed on more than one blockchain and some sidechains. Bringing more and more functionality to many different networks. 

However, like the Dapps can move easily to other chains, the liquidity can not. So not all Dapps on all networks work as well as they do on the network they started at. Because of this slippage or trading pairs may differ on chains that have less liquidity. 

If you plan on using Dapps on many smaller blockchains, this would be something to look out for. 

Final word

We hope that this article thought you something about Ethereum contracts and where to find them. If you have any other questions you want us to answer, feel free to contact us on our socials. So that we can keep publishing the best and most helpful articles for you.