FreeBitco.in, one of the world's largest Bitcoin gaming websites with over 41 million registered users and 52 million monthly visits, will be adopting FUN tokens to power its Premium Membership Program.
Enormous Utility Potential for FUN
FreeBitco.in will launch its Premium Membership Program on March 15, 2021. Holders of FUN will benefit from cash backs, free spins, and more benefits on the site.
The platform will incentivize the buying and holding of FUN tokens, a massive boost to the FunFair ecosystem.
Following the rollout, FreeBitco.in will become the first major gaming platform to adopt a liquid token supported by leading exchanges, including Binance, HitBTC, and OKEx. FreeBitco.in will subsequently increase FUN's utility by opening up the token to their global clientele base of over 41 Million registered users.
The potential for FUN is simply enormous considering the industry in question. A recent study says the online betting and gaming market will grow to $100 billion in five years at a Compound annual growth rate (CAGR) of 10 percent.
This expansion will be led by the expansion of online games, including sports and casino betting availed by FreeBitco.in.
Commenting on its choice of FUN whilst unveiling the Premium Membership Program, FreeBitco.in wrote:
“Since 2017 (the year of the Bitcoin Boom), we’ve seen hundreds of utility tokens crop up with little to no actual utilization. Instead of introducing our own coin into the crowded marketplace, we decided to take a promising token and celebrate its utility by aligning them with our brand, thereby adding value and recognition […] Seeing how FunFair operates in the online gambling space and how it values provably fair gaming and transparency above anything else, it was the perfect fit for FreeBitco.in.”
Overall, the Premium Membership Program is designed to encourage users to buy and hold FUN tokens long-term. The longer a user holds the tokens, the more rewards and benefits they get to enjoy.
The program primarily has 7 investment levels, with collateral starting 2,500 FUN and going all the way up to 500,000 FUN. Tokens can be held for 1 month, 3 months, 6 months, or 12 months.
olding more tokens for longer will unlock better benefits. For instance, holding 50,000 FUN tokens for 1 month will give a user 7 free spins daily, 2.5% additional daily interests, and 0.1% betting cashback.
eanwhile, holding the same amount of tokens for 12 months will unlock 10 free spins daily, 10% additional daily interests, and 0.4% betting cashback.
The incentivized model is expected to fuel the value of FUN. Holding long-term will ultimately reduce the circulating supply of FUN tokens, which could impact its price positively.
Users can immediately start purchasing FUN tokens on FreeBitco.in. Doing so, will allow them to enjoy certain benefits once the project launches in mid-March.
A Top 10 Online Gambling Platform in the World
FreeBitco.in is ranked top-10 globally, on the same level as Bet365, according to Similar Web. It was launched in 2013 and has since grown to be a reliable and one of the world's oldest BTC faucet.
They provide free Bitcoins to registered users who participate in several contests, solve captchas, or win prizes. On launch, their initial objective was (and still is) to promote the adoption of Bitcoin.
Registration is free. Players who wish to double their coins can register and play provably fair games like HI-LO. It is also a portal for users who don't hold any BTC but want to earn without buying from leading exchanges like Binance or mining.
Users can sign up, log in, and solve captchas. For every hour of activity, they earn a given amount of BTC. However, they stand to earn as much as $200 of BTC every hour. Each Bitcoin currently trades at over $33,000, falling from over $42,000.
30% Increase in BTC Wager Volume
In 2020, $600 million (over 450,000 BTC) in wager volumes were placed by players. This represented a 30 percent growth year-on-year. Since launch, players have earned more than 227,520 BTC.
It explains the high retention rate of over 75 percent, one of the highest in online gambling.
Through the portal, users have a chance of winning free $200 worth of Bitcoin every hour by playing a game on site. Apart from contests like the Weekly Lottery, the Monthly Contest, and others, the platform incorporates other incentives to retain and build its client base.
For instance, like the model adopted by DeFi protocols, users who deposit BTC to their wallets and maintain a balance above 30,000 Satoshis (0.00030000 BTC) earn 4.08 percent in annual interest rates compounded daily.
Players can also multiply their BTC by playing the HI-LO dice game. In this dice game, a player needs to bet HI or LO, multiplying their BTC by up to 4,750 times.
To ensure a provably fair environment without manipulation, the game integrates mathematics and cryptography, taking after Bitcoin that uses cryptography for transparency. There is a HI-LO jackpot prize where players can win up to 1 BTC every time they play.
FreeBitco.in has a betting section where users can wager on different events using their BTC. The platform regularly uploads sporting, entertainment, Bitcoin price, and more for users to bet on.
There is also a referral program where referees earn 50 percent of the referral's winning as commission, a 0.40 percent on their wagers for life, in addition to a free lottery ticket every time they play. The platform also pays users a 25 percent commission on the interest earned by their referrals.
Details of the 3rd Edition of the Lambo Giveaway
The third edition of FreeBitco.in's Lamborghini Giveaway ended in October 2020. It attracted over 39 million crypto users after a lucky winner won 24.71 BTC in Round 2.
The giveaway is part of the platform's Golden Ticket Contest. Users participate in certain actions, collect tickets, and in a provably fair system, a winner is picked.
Participants who didn't want to take part could also purchase Golden Tickets each at 25,000 Satoshis.
As of Jan 29, 2021, each BTC was trading at over $32.2k. FreeBitco.in's contests and giveaways provide a means for users to earn BTC without buying from exchanges or mining.
Their integration of another liquid token listed on Binance and leading exchanges in their Premium Membership Program could set the trend for other BTC and gaming platforms to follow.