Luna and UST, the primary tokens on Terra ecosystem, recently got enlisted on 1xBit as a means of depositing funds.
1xBit, a crypto casino platform famous for its pioneer approach to crypto gambling, recently made an addition with Terra’s altcoins. With the inclusion of Luna and TerraUSD, 1xBit has extended its comprehensive options of crypto payment methods to provide convenient access to its followers.
It’s easy to understand why users would adopt it too: the tokens have an elastic monetary policy, giving it a stability perfect for day-to-day transactions of this caliber (for example, instant depositing and withdrawals funds for placing bets in a crypto casino).
Such policy makes it impervious to the high volatility common to regular cryptocurrencies. While traditional digital currencies like Bitcoin, Ether and Solana have their own perks amongst crypto traders – exploiting the volatility by trading them with other stable currency pairs – they aren’t too suitable for the casual utilities of fiat currencies, and here’s where Terra’s altcoins come to the fore.
Advantages of Luna and UST
Luna as Terra’s primary ecosystem token, besides having a mechanism for maintaining a stable price, serves as a collateral for holding the value of another stablecoin on Terra’s network, TerraUSD (UST).
To avoid unpleasant surprises of price spikes in crypto, Terra platform offers casino players the alternative of a token with a fixed value and transactional ease of blockchain-powered digital assets at the same time – UST. This stablecoin is covered up with Luna to reduce the price’s volatility.
Furthermore, Luna functions as a reward token. It is issued to validators on Terra’s network for successfully adding a new block (set of transactions) to the blockchain.
Luna holders who have no intention of trading their assets in the near future, have the opportunity of earning passive income by staking it in Terra’s protocol. They enjoy a return of investments of 5% the principal amount staked yearly.
Benefits of Betting on 1xBit
Several Payment Options: in terms of cryptocurrency payment options, 1xBit beats most crypto casino alternatives in the market. With over 45 supported cryptocurrencies including Luna and UST, the challenge of customer conversion due to availability of payment methods is close to negligible.
Easy Registration: this casino focuses on tearing down the friction of on-ramping new players to its platform. 1xBit’s registration process is hassle-free. Only an email address is required. No ID or Know your customer (KYC) procedures. New users get straight to playing their favorite games in a matter of seconds.
Generous Welcome Bonuses: 1xBit has some enticing bonuses for incentivizing the registration of new users. For the first four deposits, players stand the chance of earning up to 7 BTC.
Instant Payouts: players can cash out their winnings instantly. No wait periods or delays whatsoever.