EOS is the 14th largest cryptocurrency. It belongs to the group of crypto projects known as “Ethereum Killers.” Why are they called that? Because they do exactly what Ethereum blockchain is known for. First, EOS is a platform for building and implementing smart contracts. It is also meant for building and deploying decentralized applications (Dapps).
According to DappRadar, EOS is one of the top blockchain projects when it comes to DApps. The project is supported technically by Block.one, a blockchain solution company. EOS has an interesting history; for instance, it was created by Daniel Larimer, who is also the creator of the cryptocurrency platform, BitShares, and he is the co-founder of Steem blockchain. EOS had the biggest ever ICO for any coin at its launch.
Created with support for DApps in mind, EOS is one of the third generation crypto projects that come with a few more advantages. It offers near-instant transaction settlement and lower fees than older cryptocurrencies, such as Bitcoin (BTC).
How to Use EOS for Gambling
Crypto casinos are becoming more popular in today’s internet, and one of the cryptocurrencies you can easily use to play is EOS. The first step towards using EOS to play online casino games is to obtain an EOS wallet. This is where you will store the coins you intend to use. There are several wallets that you can use, but you need to find one that is convenient for you.
While security should be a top priority in choosing a wallet, convenience should also be considered. For instance, you don’t want to use a hardware wallet for regular deposits and withdrawals on the website. Next, you will need to fund your EOS wallet. This can be done by buying EOS from exchanges; that is the most popular thing. You may also buy from a friend or family member, which is easier than going through registration and KYC on some websites to buy cryptocurrencies.
You can then select a casino DApp from the long list of those on the EOS network. Because EOS is built for DApps, using the cryptocurrency to play makes it much faster and easier to utilize. Selecting a DApp to use will involve a little research, as you will need to be sure that the one you pick is the most likely to bring you the most reward.
On 1xBit, there is much more to do than just playing casino games. First, there is a welcome bonus up to 7 BTC for new players after completing a very simple registration process. The website supports over 20 cryptocurrencies that you can choose from to play and a multi-currency account.
1xBit offers anonymous betting, and using EOS makes it much faster. Moreover, due to the fast nature of transactions, depositing and withdrawing several times a day can be done without delay. This is also good considering that there are no transaction fees.