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Rollbit Coin

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Discover Rollbit Coin's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Rollbit Coin?

Rollbit Coin (RLB) is a digital currency associated with the Rollbit platform, a comprehensive GambleFi platform that offers online casino, sports betting, futures trading, and an NFT marketplace. RLB operates on a blockchain, ensuring transparent and secure transactions within the Rollbit ecosystem. It serves as the platform's native token, providing utility for various activities and has a capped supply of 5 billion coins.

How is Rollbit Coin used?

Rollbit Coin (RLB) is the native cryptocurrency of the Rollbit platform, a comprehensive GambleFi platform that offers various services such as an online casino, sports betting, futures trading, and an NFT marketplace. The RLB token serves several purposes within the Rollbit ecosystem:

  1. Lottery Participation: RLB tokens act as entry tickets into the Rollbit lottery, where 20% of the casino's profits are shared among lottery participants. Users must stake RLB tokens to enter the lottery, with a 0.20% staking fee that is split between being burned (permanently removed from circulation) and being redistributed to staked Rollbots (Rollbit's NFT project).

  2. Utility and Rewards: RLB tokens provide utility from day one by being integral to the lottery, with prizes coming from a share of Rollbit's profits. This utility helps drive demand for the token.

  3. Gaming and Trading: RLB tokens can be used within the Rollbit platform for various activities such as casinos, sports betting, and futures trading, making it a multifaceted asset in the online gaming and gambling industry.

  1. Staking and Deflation: The staking mechanism for the lottery leads to a gradual reduction in the circulating supply of RLB tokens over time, which can support value growth as demand increases.

  2. Trading and Liquidity: RLB tokens can be traded on various exchanges, allowing users to buy and sell the token in real-time, contributing to its market capitalization and liquidity.

In summary, Rollbit Coin (RLB) is used for lottery participation, utility, gaming, trading, staking, and deflation within the Rollbit platform, providing a range of functionalities and incentives for users.

How do I store Rollbit Coin?

To store Rollbit Coin (RLB) tokens, you need to choose a suitable wallet. Here are some options:

  1. Phantom Wallet: A popular browser wallet that supports RLB, allowing you to store, send, and receive tokens on the Solana network.
  2. MetaMask: Supports Rollbit Coin as it runs on the EVM blockchain. You can add RLB to MetaMask like any other ERC-20 token.
  3. Other Wallet Options: There are various wallets available, both open-source and commercial, that support RLB. These wallets offer different features and fees, so it is essential to consider factors like security, convenience, and fees when selecting a wallet.

Before using any wallet, ensure you follow the necessary steps to set it up securely, such as writing down your seed phrase and using a secure password.

How to buy Rollbit Coin?

To buy Rollbit Coin (RLB) tokens, follow these steps:

  1. Choose a Crypto Exchange: Select a reliable cryptocurrency exchange that lists Rollbit Coin. Some popular options include Binance, WazirX, CoinSwitch, Uniswap, and Raydium.

  2. Create an Account: Sign up on the chosen exchange by providing the required information and verifying your account.

  3. Deposit Funds: Deposit the desired amount of funds into your exchange wallet using available payment methods such as PayPal, Debit/Credit Cards, or Internet Banking.

  1. Place an Order: Use the deposited funds to place an order to buy Rollbit Coin at the current market rate or set a limit order at your preferred price.

  2. Use a Decentralized Exchange (DEX): If you prefer to use a DEX, connect your crypto wallet to the DEX, select your base currency, and swap it for Rollbit Coin.

  3. Store Your Tokens: Once you have purchased the tokens, ensure they are safely stored in your wallet, preferably a cold wallet for long-term storage.

Remember to conduct thorough research, understand the risks involved, and consult with a financial advisor if needed.

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History of Rollbit Coin

Rollbit Coin (RLB) was introduced by Rollbit on November 10, 2021, as a deflationary, utility-focused token on the Solana blockchain. The initial supply of RLB was 5 billion, which will decrease over time due to the RLB Lottery, where half of the 0.20% staking fee is burned, permanently removing tokens from the supply. This mechanism aims to support value growth by reducing the number of tokens in circulation.

The RLB Lottery was launched on November 25, 2021, where participants stake RLB for a chance to win from large prize pools each round. The lottery is the primary driving force for RLB's demand, as it collects RLB to burn and entices Rollbit users to participate.

Rollbit airdropped RLB for free to existing users of its casino and trading platform, Rollbit.com, rather than conducting an ICO. This approach was used to bootstrap growth, incentivize community development, and reward early adopters.

The token has been traded on various exchanges, with its price and trading volume fluctuating based on market dynamics. The Rollbit platform itself was established in February 2020 and serves as a comprehensive GambleFi platform, offering services such as an online casino, sports betting, futures trading, and an NFT marketplace.

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How Rollbit Coin works

Rollbit Coin (RLB) is a utility token built on the Solana blockchain, designed to facilitate various activities within the Rollbit platform. Here's an overview of how it works:

Lottery Participation

RLB acts as an entry ticket into the Rollbit lottery, where 20% of the casino's profits are shared between regular lottery prizes and the jackpot. The lottery round occurs every 100 Bitcoin blocks, and 100 winners are selected. To participate, users must stake their RLB, which incurs a 0.20% staking fee. Half of these fees are permanently removed from circulation, making RLB deflationary, while the other half is redistributed to staked Rollbots after each lottery round.

Staking and Multipliers

The more RLB staked, the higher the chance of winning. Users can increase their wager significantly using lottery multipliers, which can be obtained through rank, wager, or Rollbot ownership. Rollbots are NFTs with assigned lottery multipliers based on their rarity. Once a multiplier is used, the wagered RLB cannot be removed until the round is complete.

Earning RLB

There are several ways to earn RLB:

  • Participate in promotional events and challenges.
  • Buy and stake Rollbots, which receive airdropped RLB based on their rarity.
  • Deposit certain NFT collections, earning up to 100,000 RLB.
Trading and Withdrawal

RLB can be bought from Dexlab and deposited to Rollbit to participate in the lottery. To withdraw RLB, users need the Phantom wallet, where they can sell their RLB and settle the USDC balance.

Utility and Payment Method

RLB serves as a payment method within the Rollbit platform, allowing users to participate in gaming activities and purchase items. It also provides access to exclusive features, such as the lottery and multipliers.

Supply and Circulation

The total supply of RLB is 5 billion, and a significant portion of it is already in circulation. As more RLB is staked and burned, the supply decreases, which can support value growth.

Overall, Rollbit Coin is designed to integrate seamlessly into the Rollbit ecosystem, offering users various benefits and incentives while participating in the platform's activities.

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Rollbit Coin's strengths

Rollbit Coin (RLB) has several strengths that contribute to its utility and potential growth:

  1. Native Token of Rollbit Platform: RLB is the native token of the Rollbit platform, which is a comprehensive GambleFi platform offering various services such as online casino, sports betting, futures trading, and an NFT marketplace. This integration provides RLB with a specific use case and a captive audience within the platform.

  2. Payment Method: RLB serves as a crucial payment mechanism within the Rollbit platform, allowing users to participate in gaming activities and purchase items seamlessly.

  3. Exclusive Features: RLB provides holders with exclusive access to specific features of the Rollbit platform, including entry to the Rollbit lottery and potential multipliers through mechanisms linked to user activity and Rollbots, a type of NFT associated with the platform.

  1. Security and Transparency: Rollbit Coin operates on advanced technologies, including blockchain and smart contracts, ensuring security, transparency, and efficiency within its gaming and trading platforms. This technology provides a decentralized and immutable ledger system, automating processes such as payouts and rewards distribution.

  2. Market Performance: RLB has shown responsiveness to market dynamics, with its value fluctuating based on buyer and seller activities. This dynamic market presence suggests that RLB is a significant player in the GambleFi space.

  3. Price Prediction: According to various predictions, RLB is expected to rise significantly in the future, with some predictions suggesting a price of $0.209988 by July 5, 2024, and continued growth through 2025 and beyond.

These strengths position Rollbit Coin as a multifaceted asset in the online gaming and gambling industry, offering users a range of benefits and potential for growth.

Rollbit Coin's risks

Rollbit Coin (RLB) carries several risks that investors should be aware of:

  1. High Risk Score: According to InvestorsObserver, RLB has a high risk score due to its price volatility in relation to volume changes over the past 24 hours. This indicates that the token can be easily manipulated, making it a higher-risk investment.

  2. Market Fluctuations: RLB's value is influenced by market factors, which can lead to significant price changes. Its smaller market cap compared to major cryptocurrencies like Bitcoin or Ethereum makes it more susceptible to larger price shifts.

  3. Regulatory Challenges: Rollbit operates in a complex regulatory environment, and any legal challenges or licensing concerns can impact the utility and value of RLB. Restrictions in certain jurisdictions can also affect its usability.

  1. Security Concerns: While Rollbit has implemented basic security measures, users must remain vigilant and take steps to protect their accounts, such as enabling two-factor authentication and using strong passwords. The platform's overall security can also impact user confidence in RLB.

  2. Volatility: RLB's price can fluctuate significantly, as seen in its past performance. For instance, it spiked to $0.2644 in November 2023 but currently stands at around $0.08 as of May 30, 2024.

Investors should carefully consider these risks and weigh them against the potential benefits of investing in Rollbit Coin.

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Did Rollbit Coin raise funds?

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Rollbit Coin's ecosystem

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Rollbit Coin’s team

  • Lucky: Pseudonymous co-founder of Rollbit, responsible for announcing changes to the tokenomics system, including the buy-and-burn feature.
  • Razer: Co-founder of Rollbit, active on Twitter as @Razer_Rollbit.
  • Developers, Designers, and Marketing Professionals: A team of experts who have contributed to the development and growth of the Rollbit platform, combining crypto trading, casino games, and NFT gambling in a unique and innovative way.

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