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Online casinos and cryptocurrencies both sound like a risky business, but hold, people need to look closely. On one hand, cryptocurrencies are revolutionizing the financial sector while online casinos are eliminating unfair play several physical casinos offer. Combine digital assets with online gambling, and there will be fair rewards and play. TRON (TRX) is among many virtual currencies used by online casinos in the form of payment methods.
What is Tron (TRX)?
TRX, a native asset of Tron, started as an ERC-20 token but then migrated to their network. The project primarily focused on content creators, enabling an appropriate rewards’ system for them. It supports blockchain systems, smart contracts and more. Users can create decentralized applications (dApps) on the network. You contribute some content on the blockchain, you get paid for that, simple as that.
The network operates on three layers — Storage, application and core layer. First one provides storage facilities for all kinds of data available on the blockchain, second is focused on content creation and reward system for creators. The final layer enables execution of dApps on the blockchain.
Justin Sun founded Tron in 2017 and has served as Ripple’s Greater China representative before. The project was initiated with a vision to eliminate intermediaries taking the cut out of creator incomes. This would render the content inexpensive for the users consuming it on the network.
According to the CoinMarketCap data, out of 100 Billion TRX, 90.4 Billion are circulating with a market capitalization of $6.1 Billion at the time of writing. To this date, TRX has reached the all-time high of $0.3004. Currently, the coin is changing hands at $0.06773.
Cryptocurrencies are a boon to online gambling as users can simply put their coins or tokens at work instead of risking their assets value to decline in case of a market downturn. Although, players simply prefer credit/debit cards and other payment means to deposit cash on an online casino.
Why Choose TRX Casinos?
Tron enthusiasts can simply create an online wallet to transfer the cryptocurrency to be used in games like Plinko, Blackjack, Slots and more. There are several games where a user can multiply the deposit by manifolds. However, the opposite is also true. They can use various strategies using small amounts to identify what works best for them.
According to research, the global online gambling market was valued at $75.41 Billion. It is estimated to reach $205 Billion by 2030 at a compound annual growth rate (CAGR) of 12%. Several nations are legalizing online gambling considering the platforms work in real time and any illicit aspect is eliminated with this.
Moreover, these casinos provide different offers to increase user rewards. Then there are tournaments with eye-catchy prize pools where players can try their hands to increase their earnings on the platforms. Nonetheless, online gambling may become addictive. It is advised to play responsibly to avoid massive financial blows.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
