Rollbit Coin

About Rollbit Coin

Rollbit Coin (RLB) is a digital currency created exclusively for use on the Rollbit platform, which combines the features of a crypto casino and a trading exchange. It provides a convenient way for users to engage in both gambling and investment activities, enabling them to utilize their digital assets in both enjoyable and functional ways.

What is Rollbit?

Rollbit stands out as the first-ever casino based on Non-Fungible Tokens (NFTs). The introduction of the Rollbit token (RLB) is closely tied to the platform’s lottery system. This lottery is expected to boost the demand for RLB tokens, as they serve as entry passes, offering participants the opportunity to win a portion of the casino’s earnings. To join the lottery, participants need to stake RLB tokens. The winnings are sourced from a profit-sharing pool, which is funded by 20% of the casino’s daily profits, accumulating throughout each lottery round.

Features and Technology Behind Rollbit

Founded in 2020 by entrepreneurs Lucky and Razer, who had a strong interest in online gambling, Rollbit has rapidly ascended to prominence as a top-tier online casino, boasting over a million users globally. Rollbit distinguishes itself through its distinctive array of games, integration of Non-Fungible Tokens (NFTs), and unique promotional events, garnering widespread attention from the gaming community.

The majority of Rollbit’s users are men, accounting for 72.6%, predominantly aged between 25 to 34 years. Rollbit’s reputation is not only reflected in its substantial user statistics but also in the positive feedback and experiences reported by its clientele.

Distinctive Gaming Portfolio

Rollbit offers an array of exclusive games such as X-Roulette, X-Crash, and X-Flip, which reinvent classic casino gameplay, delivering a novel and engaging experience. For example, X-Flip revitalizes the traditional coin toss game by enabling bets on multiple coin flips simultaneously.

Moreover, Rollbit caters to slot game aficionados with popular titles including “Guns N’ Roses,” “Gonzo’s Quest,” “Starburst,” “Book of Dead,” “Reactoonz,” and “Mega Moolah,” alongside traditional table games like blackjack and live game shows like “Crazy Time.”

NFT Integration

With NFTs being a hot topic in the tech world, Rollbit has adeptly integrated them into its platform, enhancing the gaming experience while maintaining its competitive edge. In games such as Rollbit Bonanza, NFTs allow players to customize game dynamics and risk levels, introducing a thrilling dimension to gameplay.

Rollbit’s offerings include:

• NFT loot boxes containing sought-after NFTs, including the exclusive Rollbit token
• Access to special content, contests, and discounts within the casino
• A blockchain record of every NFT transaction, ensuring both authenticity and security

Role of the RLB Token

In November 2021, Rollbit introduced its proprietary token, the RLB token, as a core component of its lottery system, without conducting an Initial Coin Offering (ICO). Instead, the token was distributed free of charge to early supporters of the project, with a significant portion given to owners of the “Rollbot NFT” through their Rollbit accounts.

Choosing the Solana blockchain for the RLB token, the team aimed to facilitate cheaper and more efficient trading and transactions. Initially, RLB was an SPL token, marking it as the first cryptocurrency issued by a crypto casino on the Solana network.

Rollbit launched the RLB lottery to increase demand for its native token, where RLB served as the lottery entry ticket. Participants staking RLB had the opportunity to win a portion of the casino’s earnings.

Originally, the total supply of RLB on Solana was set at five billion tokens. Throughout 2022 and 2023, the supply was significantly reduced by over 35% through multiple token burns, with the most recent burn occurring on June 25, 2023.

Rollbit Coin on Ethereum

On June 28, 2023, Rollbit accomplished the significant task of transferring its RLB token from the Solana blockchain to Ethereum. This move was largely influenced by the community’s demand, as they saw it as a vital enhancement. The Rollbit team also believed that the potential for RLB’s expansion was limited on Solana.

While the shift to Ethereum might mean increased transaction fees, it doesn’t change the functionality or utility of the RLB token. The technical team facilitated the transfer by employing robust smart contracts, ensuring a direct swap from RLB as an SPL token to an ERC-20 token at an equal ratio. Furthermore, Rollbit ensured a smooth transition for its users, who could easily move their tokens through the platform’s interface.

Investment Potential and Risks

As a newer cryptocurrency, RLB presents lucrative possibilities but also uncertainty. It aims to tap into the massive online gambling industry by offering a superior product. This could enable considerable growth.

However, execution risks exist – Rollbit must deliver on its technology and maintain gambling licenses to operate legally. Competitors may also adapt over time. Investors must be comfortable with volatility and only allocate speculative capital.

Upside can be magnified by staking RLB and contributing to the ecosystem. But potential downside should be planned for by managing risk accordingly. As always, one should never invest more than they can responsibly afford to lose.

How to Acquire and Store RLB

RLB can be purchased on centralized exchanges like Gate.io and MEXC Global. It’s available against USDT and BTC pairs. RLB can also be acquired on Rollbit’s platforms by depositing and wagering crypto.

Many store RLB in the Rollbit Wallet for easy access to gambling services. However, larger holdings should be kept in non-custodial wallets. Ledger and MetaMask support RLB and provide enhanced security. As usual, avoid keeping coins on exchanges long term.

Be cautious of fake URLs, RLB giveaways, and other scams involving phishing attempts. Only download official Rollbit apps and bookmark known sites. Following best practices is key to safely managing cryptocurrencies.