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Crypto Banking

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The term crypto banking refers to how individuals can use cryptocurrencies to conduct business. There is a convergence between investing in cryptocurrency and banking methods wherein both fiat currency and cryptocurrencies can be exchanged and interact through banking services. This is what Crypto Banking wants to exploit.

 

What is Crypto Banking?

Crypto banking is the process of managing digital currency through any financial service provider or bank. People are increasingly buying, selling, and trading cryptocurrencies because they can do so with an internet connection. Banks that accept digital currencies and support cryptocurrencies include Ally Bank, Wirex, Barclays, Goldman Sachs and JPMorgan (to name a few).

Unlike traditional financial institutions, crypto banks do not hold stocks or cash for investors or customers. Crypto banks, on the other hand, hold digital assets instead of fiat currency. Vast Bank, for instance, provides business and personal banking products including savings accounts and checking CDs, credit cards, and loans.

Despite being a small local bank with 35 years of experience in the business, it has recently entered the crypto economy and has been given attention as the first US nationally chartered bank that allows customers to hold crypto assets in their accounts.

 

Crypto Interest Accounts

Starting with a crypto interest account is the simplest way to get started. A traditional savings account may offer interest rates as low as 1% compared to crypto banks with 10%.  These crypto accounts are available at Gemini, BlockFi, Nexo Outlet Finance, and Linus among others.

 

Crypto Checking Accounts

You can also open a crypto checking account. You will be able to keep more of your money without paying crypto fees if you have a crypto checking account. The Quontic Bank and Vast Bank also offer crypto checking accounts.

Customers who make eligible purchases with Quontic’s Bitcoin Rewards Checking account are rewarded with bitcoin. Quontic debit cards allow you to make purchases that qualify for Bitcoin conversion when you use them online or in-store. About 1.5% of your total transaction will be converted into Bitcoin after the transaction is completed.

To get started with cryptocurrency, you can go read some articles on Bitcoin Prime. They have quality information regarding crypto that will be of good use to you.

 

How to get started with Crypto Banking

The easiest way to get started with crypto banking if you don’t own any cryptocurrency yet is to register for an account with any bank that accepts cryptocurrencies or your choice of decentralized finance apps. Then you can buy Bitcoin and other currencies from their exchanges.

Applications using decentralized blockchain networks are called decentralized finance apps, which do not require a middleman like a brokerage or a bank to facilitate the purchase of financial products. Apps that are both platforms for buying and selling as well as hot wallets where crypto-assets can be stored are also available. Among these apps are:

Revolut: which allows users to complete transactions using Bitcoin, Ethereum, and Litecoin

SEBA Bank: A Swiss bank that accepts cryptocurrency payments and transactions

Wirex: An online payment platform that allows crypto transactions and payments

 

Risks of Crypto Banking

Investing in cryptocurrencies and using apps that allow you to trade and hold digital assets carries some risks as crypto banking disrupts the financial sector. Here are some risks you can face.

Crypto Market Volatility

The volatility of crypto assets is well known. Because it takes a long time before cryptocurrencies become stable, investing in crypto comes with a higher level of risk than other trade markets. Despite their stability, crypto markets can experience dramatic fluctuations in a heartbeat.

Cryptocurrency is not FDIC Insured

Unlike traditional deposits, crypto investments are not insured by the Federal Deposit Insurance Corporation (FDIC). If the company from which you purchase crypto goes under, you could lose all your investment. Eventually, cryptocurrencies may be insured, but in the meantime, it’s important to choose a reputable crypto bank to work with.

Crypto Hacks, Theft and Fraud

As fintech becomes more popular, more hacking incidents occur in DeFi applications. You should consider a cold wallet to protect your investments, as you need to be aware of how your crypto assets are stored.

 

Conclusion

Blockchain technology has many uses in banking, so it won’t be long before banks start to make use of the public ledger in certain areas. There will inevitably be risks in finance. However, crypto banking and blockchain technology present the possibility of a future in which anyone on the planet can access transparent crypto banking.

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Dot Connections inks global aggregation deal with Funstar

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Dot Connections, a fast-growing iGaming aggregator, has agreed a key content distribution partnership with Funstar to provide the studio’s creative games portfolio via its ACE platform.

As part of the deal, several games including latest release Midas Golden Touch 2, and favourites like the Esqueleto Explosivo series and Hot Potato, developed by Thunderkick, will be made available to the provider’s operator partners via a single-API.

Dot Connections’ proprietary ACE platform delivers top-ranking games content to more than 300 global operators, with the aggregator propelling clients to success in several of the world’s thriving markets.

This key collaboration marks significant growth for Dot Connections as it pursues further LatAm expansion and secures its position as a leader in games aggregation.

 

Cora Chen, COO at Dot Connections, said: “We are delighted to add 78 games to our ever-growing collection of creative content. As one of the biggest game aggregators in the market, we know our partners’ players will enjoy what they have to offer, making them an essential addition to any platform.”

John Bateson, Director at Funstar, said: “Dot Connections prides itself on gaming excellence which is why we are pleased to provide our games via their proprietary platform. We look forward to making our top-performing games available to their many operator partners in Asia, LatAm and beyond.”

The post Dot Connections inks global aggregation deal with Funstar appeared first on European Gaming Industry News.

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Games Global and Nailed It! Games reveal swashbuckling adventure Riptide Pirates™

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Games Global exclusive studio Nailed It! Games has unveiled its buccaneering new release Riptide Pirates™, featuring an exciting, interactive battleship bonus round.

The high-seas adventure tasks players with matching crewmates, anchors and compasses across the game’s 25 paylines to trigger Riptide Wild Stacks and the Pirate Bonus, leading to impressive wins worth up to 5,000x the bet.

Players can flood the reels with walking Riptide Wild Stacks by collecting Riptide symbols at the bottom of each reel. When enough symbols are collected, the reel will turn wild and make its way across the screen from left to right, forming winning combinations.

Any Pirate Bonus symbols that land on the reels during base gameplay are automatically collected, advancing the Bonus Booster progress bar by awarding additional cannons.

The innovative Pirate Bonus is triggered when three Pirate Bonus symbols land anywhere on the reels. A battle commences on a 10×10 grid with up to four active cannons, with each one having three chances to hit an enemy ship of different sizes.

Hitting treasure chests will award a bonus modifier, sinking small boats will award a multiplier win, and sinking galleons will trigger one of four lucrative local jackpots.

Riptide Pirates™ continues the feature-rich and mechanical ingenuity that Nailed It! Games has become synonymous with. This is evident in recent hits such as Cosmic Moon™, Rome Supermatch and Rainbow Burst™.

Paweł Piotrowski, co-founder of Nailed It! Games, said: “Riptide Pirates™ epitomises what we stand for as a provider. Its base game is filled with a variety of mechanics which work concurrently to deliver gameplay that will keep players entertained long after its initial release.

“The Pirate Bonus offers truly unique gameplay that sees traditional gameplay scrapped in favour of high-stakes ship battles with game-boosting modifiers. We are truly excited to see what treasures players uncover whilst enjoying this headline release.”

Andy Booth, Chief Product Officer at Games Global, added: “If there’s one thing we love at Games Global, it’s games that stand out from the crowd, and there’s no doubt that Riptide Pirates™ will fall into this category with its innovative bonus round. We thoroughly expect operators and players to love this innovative new title.”

The post Games Global and Nailed It! Games reveal swashbuckling adventure Riptide Pirates™ appeared first on European Gaming Industry News.

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Reel in the prized catch of the day in 3 Oaks Gaming’s Fishin’ Bear

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3 Oaks Gaming, an established distributor of iGaming content, has gone live with Fishin’ Bear, a vibrant slot showcasing a Free Spins round incorporating multiple features for an action-packed fishing expedition.

The jolly bear acts as a Wild during the gameplay and appears in the middle of the third reel only. When visible alongside Bonus symbols within all game modes, he activates the Collect feature and hooks in the cash values for a combined payout.

To unlock the Free Spins in this colourful 5×3 game, the singing bear Wild throws fish into two separate progress meters in the boat above the grid. A complete progress meter awards eight Free Spins, with both filled simultaneously delivering 16.

Once activated, the bear Wild is locked into the middle of the grid for the whole round and continues to collect Bonus symbols. The Fish Rewind Feature, available in this mode and the base game, makes a big splash by awarding up to a trio of jackpot symbols including the Grand version up to 1,000x, boosting win potential. The Sticky Fish Feature can also be activated during Free Spins as every Bonus symbol that lands on the fifth reel becomes sticky, with the value changing on every turn.

The Free Spins round can be purchased for x75 to transport players straight to the game’s centrepiece, with the number of spins awarded at random.

This newest release from 3 Oaks Gaming showcases the distributor’s versatility in creating dynamic and unique slots across of plethora of different mechanics.

Yuriy Muratov, CCO at 3 Oaks Gaming, said: “Fishin’ Bear is a release we are truly excited about, as the jolly bear becomes a player’s best friend, uncovering a selection of prizes thanks to a feature-rich Free Spins round.

“The thrilling gameplay backed with fun animations will resonate with our player base and prove to be an entertaining addition to our portfolio.”

The post Reel in the prized catch of the day in 3 Oaks Gaming’s Fishin’ Bear appeared first on European Gaming Industry News.

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