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Binance Coin Gambling: A Complete Guide to BNB Casino Gaming at Punt
Binance Coin gambling – what is it, how to start, is it the way to go, and why? If you’re asking all these questions, this BNB casino gaming guide has the answers. And if you’re like us, then you’ll agree that getting to know a new crypto coin is always exciting, especially when it can be used to play our phenomenal casino games or claim our bankroll-bumping bonuses.
So if you’re an online gambling enthusiast seeking a new way to fund your fun, or just an average Joe, plain Jane, or anyone in between looking to explore the benefits of digital currencies, then keep on reading, because Binance Coin betting offers something for everyone.
What is Binance Coin (BNB) and how does it work?
Let’s start at the beginning. If you hold crypto, have ever held crypto, or if you’ve heard pretty much anything about crypto before, then surely you’ve heard about Binance. If not, Binance is the top cryptocurrency exchange in the world right now. It’s also the company behind the Binance Coin crypto used for BNB gambling.
Binance Coin, which trades under the symbol “BNB”, is the cryptocurrency native to the Binance blockchains – yes, they started out with more than 1 – the Binance Beacon Chain, formerly known as the Binance Chain or “BC” for short, and the Binance Smart Chain (BSC).
What is a blockchain?
In short, a blockchain is a digital ledger in which crypto transactions, for example, your Binance Coin casino deposits, are recorded and verified. It is made up of “blocks” that contain transactional information and are distributed across a network of independent nodes (validators).
Every time a new transaction occurs on the blockchain, a new block is created and first verified before being added to the blockchain. Once the block is added, the transaction is complete. That means every time you deposit for Binance Coin gambling, this entire process is followed – doesn’t that make you feel special?
That’s the basics of it, but there are different types of blockchains and some of them offer different features. That’s where Binance’s 2 blockchains come in, which together became known as the BNB Chain in early 2022. Does this offer any benefit for Binance Coin betting? Let’s find out.
What is the BNB Chain?
According to Binance, “BNB Chain’s mission is to build the infrastructure powering the world’s parallel virtual ecosystem, and BNB Chain’s commitment to the community is that it will be: open, multi-chain, for creators and inventors, permissionless, forever decentralized, and bigger than Binance.” Many of these factors are very advantageous for gambling at Binance Coin casinos.
The BNB Beacon Chain is used for BNB Chain governance with staking and voting properties. The BNB Smart Chain (BSC) uses a Proof of Stake consensus mechanism and is compatible with Ethereum Virtual Machine (EVM), which also means it has Smart Contract capability like the Ethereum blockchain. You see, this coin has a lot more to offer than just BNB gambling.
The 2 blockchains run parallel to each other and together make up the BNB Chain. The Binance coin (BNB) is the native cryptocurrency of both the Binance Smart Chain and Binance Chain, which allows for many applications other than Binance Coin casino gaming.
BNB COIN USES:
BNB was initially created as a utility token for discounted trading fees on the Binance exchange, but its uses have expanded to include payments for transaction fees (on the Binance Chain), travel bookings, entertainment such as Binance Coin gambling, online goods and services, and various financial services.
BNB coin burning
BNB started with only 200 million BNB coins, however, Binance implements a “buy back and burn” policy which means they buy back their coins with one-fifth of the company’s profits every quarter and permanently destroy them.
This decreases the number of coins in circulation and should theoretically drive up the price – you know, the whole “supply and demand” thing. This is also great for BNB gambling, as it means your coins should keep a fairly stable value in time.
Binance will continue to burn BNB coins until the total supply falls down to only 100 million coins. There are currently around 165 million BNB coins in circulation right now, with the last 20th BNB coin burn taking 1,959,595 coins off the market with a value of approximately 444,632,106 USD at the time – you can start a whole chain of Binance Coin casinos with that amount!
The history of Binance Coin
Binance Coin was launched in 2017 as an ERC-20 token on the Ethereum blockchain but has since been moved over to be the native token on its very own blockchain – the combination BNB Chain. BNB launched with an Initial Coin Offering (ICO), putting 100 million of its 200 million coin supply up for grabs to the public at 15 cents per coin.
The total supply of BNB was distributed in 3 ways:
- 40% (80 million BNB) went to the founding team
- 10% (20 million BNB) went to angel investors
- 50% (100 million BNB) was put up for public sale
BNB’s 2017 ICO saw all 100 million coins distributed to the public raising $15 million in Bitcoin and Ethereum. 35% of the total funds raised were used to upgrade the Binance exchange platform, 50% went to branding and marketing, and the remaining 15% was used as an emergency reserve fund.
As mentioned, the BNB coin was initially an ERC-20 token built on the Ethereum blockchain, but since the launch of its own blockchain in 2019, the coin’s structure was changed to a BEP-20 BNB token. This new BNB coin came into circulation with users exchanging the old Ethereum-based ERC-20 token for the new BNB token on the Binance exchange in 2019.
Today, BNB is one of the top cryptocurrencies on the market and offers many benefits that can be taken advantage of at Binance coin casinos such as Punt, so let’s move on and see what they are.
What are the advantages of Binance Coin gambling?
You may have heard this before, but crypto gambling in general offers many advantages over gambling with traditional fiat currencies. However, BNB gambling does offer a few more benefits than many top cryptos such as Bitcoin thanks to its versatility and efficiency. Here are some of the best advantages of playing BNB casino games at Punt.
1. – Instant Deposits
BNB is one of the faster cryptocurrencies and is able to process around 100 transactions per second, compared to the 6 transactions per second and the 15 TPS from Bitcoin and Ethereum, respectively. This means your deposits are virtually instant and you can start Binance Coin betting on the best online casino games at Punt right away.
2. – Safety and security
Cryptos are known for offering higher levels of online security thanks to blockchain technology and trusted crypto wallets. And to top it off, our site is fully encrypted with the latest SSL security certificate, meaning all your information and activity are protected when enjoying the best Binance Coin gambling experience at Punt.
3. – Enhanced privacy
KYC requirements are set to a minimum at Binance Coin casinos, especially at Punt. This means you won’t have to divulge much personal information to start BNB gambling at Punt. And since you’re using a crypto wallet to deposit and withdraw, you won’t have to submit your banking information either.
4. – Cheaper transactions
Cryptocurrency transactions are dirt-cheap compared to fiat – which is one of the biggest reasons why crypto and BNB casino gaming has become so popular amongst online players. And since third-party payment providers are cut out of the equation, Punt Casino doesn’t charge any fees on deposits or withdrawals, but the standard blockchain gas fees do apply, which are next to nothing for BNB deposits.
5. – Massive BNB gambling bonuses
It’s true – the best Binance Coin Casinos such as Punt offer some eye-popping bonuses and promotions that traditional fiat casinos simply can’t match. How much bonus can you get for Binance Coin gambling at Punt? We’re getting there, so keep on reading.
What are the best Binance Coin casino games?
Usually, the BNB casino games available to play online will depend on which game providers offer BNB-friendly casino games. However, since we allow you to keep your crypto funds with a fiat currency balance in your Punt account, ALL our casino games can be played using Binance Coin.
That means you won’t be limited to a set amount of BNB gambling games when you’re looking to bet with BNB – not at Punt. And you better believe that we offer games from some of the best providers in the world.
And the games? Only the finest! Each title is handpicked and of the highest quality, offering a five-star menu that caters to any type of online casino player. Whether you enjoy playing BNB slots, table games, jackpot games, specialty games, poker, keno, and more, it’s all yours to enjoy a next-level Binance Coin casino experience at Punt.
Binance Coin gambling bonuses at Punt Casino
Looking for the best Binance Coin casino bonuses? Then look no further than yours truly! Our Promotions Menu is brimming with the best BNB gambling bonuses in the world, and our players know it.
Punt Casino Welcome Package
The free-money frenzy begins with an enormous Welcome Package consisting of a bonus on your first 3 deposits to the total value of up to 6 BTC (or BNB equivalent) and 100 free spins.
- 1st Deposit – 125% Bonus up to 3 BTC or BNB equivalent and $25 Free Chip ($10 minimum deposit in BNB to claim)
- 2nd Deposit – 75% bonus up to 1 BTC or BNB equivalent ($20 minimum deposit in BNB to claim)
- 3rd Deposit – 75% bonus up to 2 BTC or BNB equivalent ($20 minimum deposit in BNB to claim)
All welcome bonuses for Binance Coin gambling come with a playthrough requirement of only 10x, which is far better than the industry standard and allows you the best chance of cashing out winnings from BNB gambling.
Other Punt BNB casino bonuses and promotions
Once you’ve taken advantage of that too-good-to-be-true welcome package, you’ll have loads of other bonuses and promotions to sink into. We offer multiple weekly bonuses and free spins packages to our players, giving them the best value for money when playing at our world-class Binance Coin casino.
Where can I get the Binance Coin BNB crypto?
BNB can be purchased at many major crypto exchanges. Of course, Binance is the go-to, with 25% discount on BNB transaction fees. But you can also check eToro, KuCoin, Crypto.com, FTX, and more than 100 other brokers and crypto exchanges.
Because BNB is the native token of the Binance exchange, several exchanges do not offer BNB on their platforms. However, there are certainly enough to choose from, and some of these BNB exchanges are the best in the world and will have you sorted for Binance Coin betting in no time.
If you’re from the United States and you want to use Binance to buy your coins for Binance Coin gambling, you’ll need to use the Binance.us site, which also offers many other popular cryptos that can be used at Punt, such as Ethereum, Bitcoin, Litecoin, Tether, Ripple, and more.
You will also need to know how to create a crypto wallet to store your BNB coins and deposit and withdraw your funds from Punt Casino. Trust Wallet is an official partner of Binance and the approved BNB wallet, but you can also try Coinomi, Guarda, Exodus, MetaMask, and more. Doing your research and finding a crypto wallet that suits your needs for Binance Coin betting is crucial.
How can I deposit BNB to play online casino games?
Punt Casino has made the crypto deposit process easier than ever, which means you don’t have to waste time with lengthy registrations and complicated transactions as you would at other Binance Coin casinos.
Once you’ve logged in to your account, proceed to the Cashier menu in the top-right corner of the Punt Casino lobby page. Here, you’ll need to insert the amount of BNB you’d like to deposit in your chosen fiat currency, and select BNB as your deposit method.
Alternatively, you can use the deposit window in the lobby to sign up with a Punt Casino account, claim your Welcome Package, and make your first deposit for Binance Coin gambling.
You will receive a BNB crypto deposit address to copy and paste into your crypto wallet when sending the funds. Always make sure you copy the entire address and don’t make any mistakes when depositing, as you don’t want to lose your valuable crypto for Binance coin betting.
When depositing to play the best BNB casino games at Punt, you can take advantage of faster, safer, and cheaper transactions, which is why masses of players from around the world choose Punt as their top BNB gambling casino.
Join the world’s top-ranking Binance Coin casino today!
With the best BNB casino games, mind-blowing bonuses and promotions, and an exceptional crypto gaming platform, Punt Casino has it all. And with the power of Binance Coin gambling now at your fingertips, it’s time to take advantage and join the world’s leading crypto casino to catch that next big win – good luck!
With over a decade in the online gambling industry and a passion for all things crypto, Ethan offers valuable insight into playing at Punt with in-depth reviews, gambling guides, and informative content to help our readers make the best of their Punt Casino experience. Get all the ins and outs of crypto gambling with Ethan and our team of gambling experts right here, on the Punt Casino blog.