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Guess The Price of Bitcoin And Win 50 Free Spins

June 12, 2023

Guess The Price of Bitcoin And Win 50 Free Spins

June 12, 2023

Blog » Posts tagged "BTC"

Pick To Predict! Guess The Price of Bitcoin And Win

Guess The Price of Bitcoin and win big in Punt’s first-ever Play The Price promotion.

Guess The Price Now

Table of Contents

1. Guess The Price: How To Win 50 Free Spins
2. Bitcoin’s Price History
3. Bitcoin Price Prediction 2023
4. Bitcoin Price Predictions from 2022
5. The Future Of BTC: Bitcoin Price Predictions 2024 And Beyond
6. Factors Influencing Bitcoin’s Value
7. Timing and Opportunities: What It Means to Invest in BTC Now
8. FAQ

Guess The Price: How To Win 50 Free Spins

Got a knack for knowing Bitcoin trends? Select your bonus based on its corresponding BTC price prediction to win 50 FREE Spins!

Guess The Price Now

Punt Casino is launching a first-ever Play the Price promotion. Participants can guess the price of Bitcoin, and those who guess correctly will win a whopping 50 free spins on the captivating slot, Wolf Wild.

How To Play:

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The closest bitcoin price prediction wins 50 Free Spins on Wolf Wild. This is ON TOP of your Bonus and Spins offer

The Bitcoin price prediction counter stops on 21 June (23:59 EST), so you don’t have much time to get those votes in.

Guess The Price Now

If you’re excited to get involved, but don’t know how to go about BTC price predictions, we’ve got some tips. In this blog, we’ll cover Bitcoin’s price history, which factors influence the BTC price, as well as price predictions from 2022. Let’s jump right in

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Bitcoin’s Price History

Bitcoin, the first-ever cryptocurrency, has experienced a volatile journey since its inception in 2009. The price of Bitcoin has seen significant highs and lows, reflecting various factors such as technological advancements, regulatory developments, macroeconomic trends, and shifts in market sentiment.

According to data from CoinMarketCap, as of June 11, 2023, the price of Bitcoin stands at $26,012.50.

Bitcoin Price Prediction 2023

Predicting Bitcoin’s price is challenging. This is primarily due to its volatility, and the influence of various factors.

However, several sources have made predictions for Bitcoin’s price in 2023:

- Forbes Advisor: They predict that Bitcoin could reach $100,000 by the end of 2023, driven by increasing adoption, technological advancements, and macroeconomic factors.
- Evening Standard: They suggest that Bitcoin’s price could slowly increase due to the upcoming Bitcoin halving event in April 2024. The halving event, which reduces the reward for mining new blocks, could create a supply squeeze if demand remains strong.

These predictions should be taken with caution as they are based on current trends and assumptions, which can change rapidly in the cryptocurrency market. But it doesn’t hurt to have a little help 😉

Bitcoin Price Predictions From 2022

In 2022, various sources made predictions about the future price of Bitcoin. Here are some of the top predictions:

Forbes Advisor: They predicted that Bitcoin could reach $100,000 by the end of 2023, driven by increasing adoption, technological advancements, and macroeconomic factors.
Evening Standard: They suggested that Bitcoin’s price could slowly increase due to the upcoming Bitcoin halving event in April 2024. The halving event, which reduces the reward for mining new blocks, could create a supply squeeze if demand remains strong.
Capital.com: They provided a summary of Bitcoin’s price in 2022 and key data points. Bitcoin saw a recovery in 2023 after a challenging 2022, breaking above the $30,000 mark in April 2023. The coin had previously sunk to a low of $15,682.69 on November 9, 2022, after the collapse of the FTX (FTT) exchange.

Key Data Points:

Date	Bitcoin Price
9 November 2022	$15,682.69
10 November 2022	$18,054.31
12 December 2022	Below $17,000
16 February 2023	$25,134.12
10 March 2023	$19,628.25
14 April 2023	$31,005.61
18 April 2023	$29,900
June 12, 2023	$26,540

Summary: Bitcoin (BTC) has seen a recovery in 2023 after a challenging 2022, breaking above the $30,000 mark in April 2023. The coin had previously sunk to a low of $15,682.69 on 9 November 2022 after the collapse of the FTX (FTT) exchange. Despite a sustained rally over $17,000 in early December, it was below that figure on 12 December 2022. As of 12 June 2023, Bitcoin was trading around $26,540

The Future Of BTC: Bitcoin Price Predictions 2024 And Beyond

Different sources have different predictions for the future price of Bitcoin:

CryptoPredictions.com predicts that BTC could close 2023 at $27,042.45, and fall to $25,750.01 by the end of 2024.
DigitalCoinPrice predicts a fast pace of growth, with the price potentially averaging $104,054.68 in 2025 and hitting $308,121.08 in 2030.
Wallet Investor predicts that the coin could drop down to trade at $12,078.42 by 18 April 2024.

Guess The Price Now

What Factors Influence Bitcoin’s Value?

Bitcoin’s value is influenced by several factors:

Supply and Demand: The total supply of Bitcoin is capped at 21 million, creating a scarcity that can drive up prices. Demand is influenced by the number of people buying Bitcoin, which can be indicated by the number of daily transactions and active Bitcoin addresses.
Competition: Despite the emergence of altcoins, Bitcoin remains the largest cryptocurrency by market capitalization. Its position could be influenced by the success of altcoins, particularly those offering unique features.
Sentiment: The market sentiment towards Bitcoin can significantly impact its price. Tools like the Crypto Fear & Greed Index can provide insights into the current market sentiment.
Regulatory Environment: Regulations can impact the adoption and usability of Bitcoin, influencing its price.

Timing and Opportunities: What It Means to Invest in BTC Now

Investing in Bitcoin now means entering a market characterized by high volatility and potential high returns. With the upcoming Bitcoin halving event in 2024, there could be potential price increases due to the supply squeeze. Potential investors should always do their research beforehand, while keeping up to date with Bitcoin trends and news. Punt’s Crypto Espresso feature is the perfect place to stay in the loop.

Guess The Price Now

FAQ

What is Bitcoin?

Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Find out more about using bitcoin at Punt Casino here.

How is the price of Bitcoin determined?

The price of Bitcoin is determined by supply and demand. This means that the price increases when the demand for Bitcoins grows, and it decreases when the demand falls. Other factors that influence the price include competition from other cryptocurrencies, market sentiment, regulatory news, and technological advancements.

What is the Punt’s Play the Price promotion?

Punt’s Play The Price promotion gives players the chance to guess the future price of Bitcoin. Those who guess correctly will win 50 free spins on the popular slot, Wolf Wild. The step-by-step instructions on how to participate can be seen above. YOU could be a winner!

What are the risks of investing in Bitcoin?

Investing in Bitcoin, like any other investment, comes with its own set of risks. The price of Bitcoin is highly volatile and can change rapidly. Therefore, it’s possible to experience significant losses. Always do your own research and consider your risk tolerance before investing in Bitcoin.

What is a Bitcoin halving event?

A Bitcoin halving event is when the reward for mining new blocks is halved, meaning that miners receive 50% fewer Bitcoins for verifying transactions. Bitcoin halvings are scheduled to occur once every 210,000 blocks – roughly every four years – until the maximum supply of 21 million Bitcoins has been generated by the network.

How accurate are Bitcoin price predictions?

Bitcoin price predictions are based on current data and trends. However, the cryptocurrency market is highly volatile and influenced by many factors, making it difficult to accurately predict the future price of Bitcoin. Therefore, these predictions should be taken with caution.

Guess The Price Now

Crypto Espresso – The Top Crypto News Weekly at Punt Casino!

March 20, 2023

Crypto Espresso – The Top Crypto News Weekly at Punt Casino!

March 20, 2023

Blog » Posts tagged "BTC"

What is Changelly?

Changelly is the future of crypto casino banking. It is a non-custodial cryptocurrency exchange that acts as an intermediary between top crypto exchanges and the user. Changelly allows you to buy crypto online using a credit card, with over 500+ cryptocurrencies available at some of the best rates the market has to offer.

Changelly aims to create a seamless and effortless way for users to purchase crypto online – cutting out the need to register with various crypto exchanges and putting all you need in 1 place. And now, this exciting crypto casino exchange can help YOU take advantage of all the benefits of bitcoin gambling at Punt, and it’s super easy to use.

How to buy crypto using Changelly at Punt Casino

If you don’t want to use the regular crypto deposit option at Punt, then using Changelly to buy cryptocurrency with a credit card is the answer. The option is located in the Cashier menu when making your deposit. All you need to do is select your deposit amount and choose Changelly as your deposit method before proceeding.

Deposit Now

Once you’ve selected Changely as your deposit option and chosen your preferred deposit amount, a new window will pop up to confirm your crypto purchase amount in your native currency, along with the BTC value you will receive in your Punt Casino account.

You can also view the terms and conditions as well as the privacy policy before agreeing to them by ticking the box provided. Click “Exchange” to proceed with buying crypto for gambling online with Changelly.

A crypto deposit address linked to your Punt Casino account will then automatically be generated. DO NOT change this address in any way. Simply click “Continue” to proceed to the next step.

Check out with MoonPay

A window will then pop up with a message to redirect to the MoonPay site (linked to Changelly) or to start a new transaction. If you have entered all your details to buy crypto using Changelly correctly, click on the redirect button and you’ll be taken straight to MoonPay to complete your card-to-crypto transaction.

Here, you will be required to provide your email address for verification before clicking ‘Continue”.

Now it’s time to check your inbox for a verification code sent from MoonPay. Copy the code and paste it into the field provided to continue to buy crypto casino credit using Changelly.

Once your code is inserted and you’ve agreed to the terms and conditions for MoonPay, click “Continue”. You’ll need to choose whether you want to use a debit card to buy cryptocurrency for online gambling or link your bank account to your MoonPay profile.

After selecting “Debit card” as your payment method, you’ll be required to enter a few basic details. This is to protect you and your funds from fraudulent activity when buying your coins. These details will be saved so you won’t have to add them every time you use this crypto exchange casino feature at Punt. Plus, there is very little info required – bonus!

Deposit Now

After entering a few of your basic details, you’ll be asked to insert your credit or debit card details to proceed. Once that’s done, follow the few remaining prompts and you can start playing casino games within minutes as you’ll have a topped-up Punt Casino account – voila!

What are the benefits of using Changelly to buy crypto?

If you’re looking to streamline your deposits with the easiest way to buy crypto using a credit card, then look no further than Changelly at Punt. This will cut out the need to register with various crypto exchanges and look for the best exchange rates on the web, as Changelly does this for you.

All you need to do is follow the steps above and you can benefit in various ways, including:

Benefits of Changelly:

A choice from a wide range of cryptocurrencies (over 500+)
Low card-to-crypto and crypto-to-crypto exchange fees
The service integrates with various wallets (including your Punt Casino account)
Very little personal info required
No need to register with various crypto exchanges to find the best rates
It’s easy to use and can have you gambling with crypto in minutes!

On top of this, you still get UP TO 15% CASHBACK ON ALL DAILY DEPOSITS at Punt.

Choose Changelly for easy card-to-crypto deposits today!

As you can see, buying crypto using a credit card with Changelly for online gambling is very simple at Punt. Not only will you benefit from some of the best exchange rates you will find, but you’ll also have your deposits added to your account much faster.

And don’t forget, you can still claim Punt Casino bonuses and promotions when using Changelly to make your deposit. Just claim the relevant bonus code in the Cashier menu under Coupons and make sure you buy crypto in the required amount for claiming the bonus.

That’s it for now. Enjoy this stylish new feature at Punt. And remember to look out for more exciting features and crypto casino news – we’ll keep changing the game for the better as long as you’re playing it!

The Future of Bitcoin Casinos and Online Gambling

February 18, 2023

The Future of Bitcoin Casinos and Online Gambling

February 18, 2023

Blog » Posts tagged "BTC"

Is Bitcoin the Future of Online Gambling?

The relation between bitcoin and online gambling, and what the future of bitcoin casinos may look like, is a trending topic due to the fast-growing adoption of cryptocurrencies in the online gambling sector.

Since as early as 2013, online casinos have been making the move toward accepting cryptocurrencies as payment, not only for player deposits but also player withdrawals. This brought about an entirely new breed of online casinos, and with them, a revolution that has changed online gambling forever.

But will this fast-growing trend last? Does bitcoin have a future in online gambling – or is bitcoin the future of online gambling? And if not, will other cryptos or forms of digital currency emerge as the go-to choices for crypto gambling?

Well, we have a few theories – backed by crypto market research and valuable information that may give you some insight into what the bitcoin casino future might look like. But first, let’s look at what bitcoin gambling is doing in today’s world.

The Current State of Bitcoin Gambling

Straight off the bat – recent events in the crypto space have only proven that crypto gambling is here to stay and that the future of bitcoins casinos is a healthy one. Markets have been on the brink of crashing, massive crypto exchanges have been shut down due to unlawful practices, and the crypto community finds itself in uncertain times as a result.

Don’t get us wrong, crypto is not failing – not by a long shot. But of course, growing pains do apply, as with any emerging market.

BUT! Even though cryptocurrencies have been facing these challenges of late, crypto gambling, specifically, has been on the rise. But why? Well, according to research, the industry shows a considerable growth rate of just under 11.5% a year.

This is said to continue throughout 2023 all the way to 2030, with predictions pointing at even larger growth beyond.

The latest bitcoin gambling statistics released by casinosblockchain.io in early 2023 state that since the inception of crypto gambling, around 4% of all gambling activity is crypto-related, and players have wagered over $4.5 billion in bitcoin since – that’s only bitcoin, and the majority of this is only in the last few years.

So what does this positive growth for crypto gambling, in specific, mean when comparing it to the not-so-positive growth that crypto markets have experienced lately? Yes, investing in crypto is a volatile game and not for the faint-hearted, but it seems crypto gamblers, in general, are not too phased by current or past events. Let’s find out why.

Why Players Are Choosing Bitcoin Casinos Over Regular Online Casinos

Bitcoin gambling and crypto gambling in general offer various benefits for the player. Yes, the crypto casino also enjoys a few perks, which is another reason why crypto adoption among online casinos is growing at this rate.

But to understand why crypto casino players still prefer using bitcoin and other cryptos for online gambling in such unpredictable times in the crypto market, we should look at the benefits these players enjoy.

Benefits of Bitcoin Gambling

Instant deposits and much faster withdrawals than fiat currencies
Cheaper transaction costs than fiat currencies (sometimes only a fraction)
Improved security when transacting online
Convenience of payment methods and integrated payment technologies
Higher levels of anonymity

What this essentially comes down to, is that crypto players know that they can take advantage of these gambling benefits without needing to ‘invest’ in crypto. They are simply using it as a rejection-free, low-cost, safer, and instant payment method, rather than getting stuck in the red tape around centralized currencies issued by central banks and governments.

A player can simply deposit and withdraw using crypto with very few KYC requirements (if any) or restrictions from third-party payment providers. And the best part of all of this is that the gaming experience at crypto casinos is just as good as in traditional online casinos, if not better.

Which bitcoin casino games do players enjoy most? Here’s a look at the most popular bitcoin casino games in the US:

So now that we know why players prefer bitcoin gambling, which games they’re playing, and that crypto gambling is indeed on the rise, let’s take a look at what the future of bitcoin casinos might look like.

The Future of Bitcoin Gambling

Due to the nature of the business, online casinos have always been ahead of the game when it comes to technological advances and online security, finding innovative ways not only to entertain players but also to create a safe and user-friendly environment to do so.

But as the internet and online entertainment world evolved, online casinos needed to keep improving and find new ways to entertain players and ensure that their experience is as unique and seamless as possible, which is a never-ending cycle.

Now, you can imagine this is a very competitive market with new online casinos sprouting up left, right, and center, almost every single day. So if they want to last, they’ve got to get with the program.

And the new program is without a doubt, crypto. Blockchain and cryptocurrencies are almost certainly the future of online gambling – if not playing a very big part in it. The world is going digital, especially when it comes to finance, and in a digital world, digital currencies reign supreme – hell, even governments are looking into creating their own forms of digital currency.

With the benefits that the technology offers, including security, transparency, cost-effectiveness, and decentralization, it’s easy to see why both players and online casinos are steering in the direction of crypto.

In the US, for example, GamingAmericas.com reported that research conducted by Newzoo shows “around 73.9 million US residents are active users of online and bitcoin casinos. Among them, 52% gamble for real money, and 2.6% are high rollers.”

Now this includes both fiat and crypto casinos, but the ratio will most likely fall in crypto’s favor in coming years, and here’s why we believe why.

Crypto Gambling Trends Shaping the Future of Online Gambling

Blockchain technology and cryptocurrencies are not only becoming prevalent among online casinos but the entire e-commerce sector as well. Putting the current volatile markets aside – the benefits of blockchain tech are starting to creep into every corner of the internet, from gaming to buying goods and services online, and even building decentralized apps and entire Metaverses.

This is good news for crypto gambling and further proves that the bitcoin casino future looks promising. As blockchain technology improves, so do the use cases, which have resulted in numerous trends that will shape the future of online gambling.

Online casino trends in 2023 are one thing, but crypto gambling in particular has its own, unique trends thanks to the nature of the technology behind them. Let’s take a look at a few of the really interesting ones that will most definitely play a big part in the future of bitcoin casinos.

Metaverse Casinos

You may have heard of Decentraland and The Sandbox, which are probably the 2 most popular Ethereum-based metaverse and gaming ecosystems that allow users to share, create, and monetize digital assets and gaming experiences.

In short, they are basically digital worlds that players can access online and interact with each other, buy and create NFTs, purchase digital real estate for advertising, and play games. What if we told you that these digital metaverses also offer casinos? Well, they do.

This is still fairly new in the online gambling world, but you can imagine what a big part metaverse casinos will play in the future of bitcoin casinos. They offer an immersive and interactive casino gaming experience that simulates a real-world casino environment (apart from the frog dealing a poker game, of course).

The key factor to consider here is that all goods, services, and activities in these metaverses are paid for using the in-world digital currency, such as the digital assets token for Dentraland called MANA, or SAND in The Sandbox.

Decentralized Gambling

With the creation of decentralized applications, casinos can offer games on a downloadable platform that can be played using cryptos and can even calculate the outcomes of the games using blockchain technology, which we’ll get to soon.

Decentralized gambling can also be defined as crypto gambling, as you’re using decentralized currencies to wager in casino games. As mentioned, crypto gambling offers many advantages, including safety, anonymity, and cost-effectiveness, and we can certainly see how this would appeal to players, and play a big part in the future of online gambling.

Seamless Payment Methods

Crypto technology has also improved the ways in which players deposit and withdraw from a casino. By using a mobile crypto wallet, players can seamlessly deposit their funds straight to their casino account, without delay, and without extra costs incurred by third-party payment providers.

Crypto wallets also offer a few unique features that can be integrated into payment methods using the blockchain. In Deccentraland, for example, you can connect your crypto wallet to your player profile by scanning a QR code via your crypto wallet, allowing you to easily pay for goods and services without lengthy deposit and withdrawal processes.

Punt Casino also offers a similar approach – no more credit card details and deposit forms here, buddy. You can simply scan a QR code via your crypto wallet to make a deposit, and insert your wallet receiving address when making withdrawals with very little identification and none of your personal banking details required.

Of course, user-friendliness is very important to players, and technology such as this is really changing the game and continues to improve. With seamless payments and improved security (not to mention it’s cheaper), crypto payment methods are going to play a big part in the future of online gambling, which means the future of bitcoin casinos looks promising.

Provably Fair Games

What if we told you that players can now prove the fairness of the outcome in casino games using blockchain technology? The days of hoping that you are playing with a fair online casino are over because now, you can prove it.

“Provably fair” refers to an algorithm based on technology that offers a higher level of fairness and transparency in online casino games. The algorithm uses blockchain tech to produce random outcomes when the game is played, for example, shuffling the decks of cards in a blackjack game or generating random reel-stops in a slot to produce an outcome.

The provably fair algorithm generates an encrypted key, which looks similar to a crypto deposit or receiving address with the results of the outcome. The player can access this key along with a secondary key that allows them to verify the fairness of the outcome at the end of each round.

Games on our menu from the provider Spribe, for example, are all provably fair games and will allow you to verify the outcomes of each round when playing.

Provably fair casino games will most probably have a big impact on the future of bitcoin casinos and that of the online gambling industry as a whole, especially with this technology improving and with casinos finding new ways to use it.

Bitcoin Casinos: The Future of Online Gambling

Bitcoin price prediction plays a crucial role in shaping the future of online casinos. As the world increasingly embraces cryptocurrency, Bitcoin’s value is expected to soar, opening up new possibilities for the online gambling industry. With the decentralized nature of Bitcoin and its potential for secure and anonymous transactions, online casinos can provide players like you with enhanced privacy and convenience. Moreover, as Bitcoin’s price rises, the value of winnings and payouts at casinos such as Punt increases.

With all the technological advancements in the crypto space, the bitcoin casino future looks more than promising. Bitcoin and other cryptos will most likely shape the future of online gambling with massive breakthroughs in user-friendliness, payment methods, security, and even the games themselves and how we play them.

What the future of bitcoin casinos holds exactly, we can not say. But if you want to start experiencing the many benefits of crypto gambling, the Punt Casino is the place to do it.

With over 1,00 crypto-friendly casino games, massive crypto bonuses and promotions, and a state-of-the-art crypto casino platform, you can take a peek at the future of bitcoin casinos, right here.

Bitcoin Casino FAQs

What are Bitcoin casinos?

Bitcoin casinos are online gambling platforms that use the cryptocurrency, Bitcoin, for transactions. They offer the same types of games as traditional online casinos but with the added benefit of using a decentralized currency.

Are Bitcoin casinos legal?

The legality of Bitcoin casinos varies by jurisdiction. Some countries have fully embraced the concept while others have placed restrictions or banned it entirely. It is important to research the laws in your specific country before engaging in any form of online gambling.

Are Bitcoin casinos safe and secure?

Bitcoin casinos can be safe and secure if they follow proper security protocols and have a good reputation in the industry. However, it is important to do your own research and only play at reputable and trustworthy casinos.

Can you win real money at a Bitcoin casino?

Yes, you can win real money at a Bitcoin casino. The games offered are similar to those at traditional online casinos and are designed to be fair and provide a random outcome.

How do you deposit and withdraw money at a Bitcoin casino?

To deposit money at a Bitcoin casino, you will need to have a Bitcoin wallet and sufficient funds in it. You can then send the funds to the casino’s Bitcoin address. To withdraw, you will follow a similar process in reverse, sending the funds from the casino to your personal Bitcoin wallet.

What types of games are offered at a Bitcoin casino?

Bitcoin casinos offer a wide variety of games, including slots, table games, and live dealer games. The specific selection of games offered can vary between casinos, so it is important to check before signing up.

What are the advantages of playing at a Bitcoin casino?

The advantages of playing at a Bitcoin casino include the use of a decentralized currency, faster and cheaper transactions, increased privacy, and access to a wider range of games.

The Do and Don’ts of Using a Crypto Exchange

The Do and Don’ts of Using a Safe Crypto Exchange

February 15, 2023

The Do and Don’ts of Using a Safe Crypto Exchange

February 15, 2023

Blog » Posts tagged "BTC"

The Do and Don’ts of Using a Safe Crypto Exchange

Cryptocurrency exchanges are vital to the continuation of the ecosystem. But, for a first-timer, or even someone who thinks they know their way around them, there are a number of golden rules you should follow in order to make your time on a safe crypto exchange a happy, profitable, and secure one.

Here’s our list of crypto exchange dos and don’ts to ensure you don’t fall foul of the taxman, hackers, and more.

What you should do when using a safe crypto exchange (Dos)

1. Do conduct research before registering

You will probably be handing over your identity documents to any exchange you intend to use more than once, so you need to know they’re trustworthy. Of course, you’ll never be 100% sure (FTX anyone?), but 9 times out of 10 you get a feel for how reputable they are when using them.

It’s not quite the wild west out there anymore, in that very few exchanges are intentionally out there to pull a fast one, but some online sleuthing prior to signing up will help you get an idea of whether or not your potential exchange is a truly safe crypto exchange.

2. Double-check your transactions

If there’s one truism about crypto which applies at all levels, it is that you are in control of your own money. This goes for storage but also for trading, because if you make a mistake when buying or selling then there are no ghostbusters to call.

There are many horror stories of traders who have put in an extra zero by accident, or tapped ‘buy’ rather than ‘sell’, and have decimated their holdings in a split second.

To avoid this fate, double-check each trade before you execute, and don’t rush anything. A slow hand might cost you a few cents, but a ‘fat finger’ could cost you a whole lot more.

3. Do use all available security protocols

There are several things you should do to minimize the chances of a hack. First, use a brand new, complex password of at least 16 characters that you haven’t used anywhere else.

Okay, it doesn’t have to be THAT complex, but you get the picture…

Second, use two-factor authentication and ensure that you have email withdrawal verification turned on. This means no one can withdraw funds without having physical access to your phone, and you will be alerted if anyone ever tries to take money out.

4. Do use tax software to record your activities

No one likes to pay tax, but the chances are you will have to do so on your crypto gains. There are some great crypto tax software packages out there nowadays that do all the calculating for you and spit out a handy report at the end of the tax year.

It’s well worth adding each exchange to your tax software before you use it. This is as simple as creating an API, and it will save severe headaches down the line.

5. Do keep a whitelist of addresses

It’s a good idea to add addresses you regularly use to a whitelist on your safe crypto exchange of choice. This means that you don’t risk entering it wrong each time you need to, while some exchanges have an option that means you can’t withdraw to a non-whitelist exchange, further increasing security.

What you shouldn’t do when using a crypto exchange (Don’ts)

1. Don’t be greedy!

Unless you’re an experienced or professional trader, you shouldn’t touch the various options that many exchanges throw your way these days, such as leverage, margin, or options trading.

If you really want to learn how to use these functions then dedicate the time to learn how they work before trying them and be judicious with your spending – selling at a loss is one thing, getting liquidated is quite another.

The crypto market is volatile enough without turning it up to 11, so most people should stay away from these temptations.

2. Don’t keep all your funds on there

You should only keep funds you intend to trade with over the next few days on an exchange, with the rest stored safely in an offline wallet. This is to reduce the chance of your account getting compromised in some way or the exchange going offline.

Exchanges are intended to be a place where you can swap one cryptocurrency for another, not where you store your coins long term.

3. Don’t publicize your success

You’ve just made a life-changing amount of money – congratulations! If you want to keep it that way, don’t boast about it on social media. You will soon find yourself attracting the wrong sort of attention, such as social engineering or phishing attacks aimed at getting into your exchange account and swiping your earnings.

Hackers are clever than ever, and they will play the long game if they suspect you of having a great deal of money in your account, so don’t give them the opportunity to find out.

4. Don’t be wedded to one safe crypto exchange

While some crypto exchanges are certainly better than others, you shouldn’t limit yourself to just one or two – doing that will mean you miss out on the best gains.

Projects generally don’t launch on the likes of Binance straight away; instead, they find homes at smaller exchanges and grow from there.

If you’re looking for the best gains, you’re going to have to go farther afield and register with some smaller exchanges, which is absolutely fine, providing they fulfill your criteria of trustworthiness.

5. Don’t download more apps than you need to

Most reputable exchanges have an app these days but don’t install it on more devices than you will use on a regular basis. Each app you install it on is another potential security risk if you don’t check it very often, so just keep it to the one or two devices you use most often.

Also, make sure those devices have a fairly good malware and antivirus program on them.

Start using safe crypto exchanges today!

As you can see, some of these rules are common sense and some are specific to the crypto world, but all of them will make your use of crypto exchanges a much smoother process.

We wish you happy, and safe, trading.

New to Crypto? Here’s How to Start Using Cryptocurrencies

February 12, 2023

New to Crypto? Here’s How to Start Using Cryptocurrencies

February 12, 2023

Blog » Posts tagged "BTC"

3 Easy Steps to Start Using Cryptocurrencies

So you want to get in on the crypto game but don’t know how to start using cryptocurrencies? We got you! As cliché as this may sound, everybody needs to start somewhere. And hey, good on you for taking the first step in your crypto adoption journey today.

Getting started with cryptocurrency is actually very easy, believe it or not. Many new users are deterred by the digital nature of these coins, often under the impression that you need to be some sort of digital whizz-kid to understand how crypto works, and how to use it.

We’re here to tell you that is NOT the case – everyone can use crypto. And once you’ve discovered the many benefits of using cryptocurrencies over traditional fiat currencies, there’s no going back.

What exactly are cryptocurrencies

Cryptocurrencies are essentially just a digital form of traditional currencies. Yes, there are many different types of crypto created for various purposes, but today, we’re keeping it simple to get you started with the basics of using these digital coins.

Cryptocurrencies are created using cryptography, which is coding used to keep data between a sender and a receiver secure. Furthermore, many cryptocurrencies are not issued by central authorities or financial institutions such as banks, but rather exist on a digital public ledger known as a blockchain.

By using blockchain technology, cryptocurrencies cut out the need for third-party payment providers and create a secure means for the sender and receiver to transact. The best part is, transactions are almost instant.

A blockchain “Node” refers to independent moderators that build and maintain the blockchain network. Nodes are rewarded in crypto for validating transactions and “mining” new coins on the blockchain. Do you need to understand all of this to start using cryptocurrencies today? No.

Without getting too technical, cryptocurrencies are simply an alternative to traditional currencies and allow you the opportunity to invest, purchase goods and services online, or simply use them as a means to avoid high transaction fees and lengthy processing times associated with government-issued currencies and banks.

Why use crypto?

Cryptos offer higher levels of security than traditional currencies.
You can take advantage of lower fees when transacting online.
It’s private. None of your personal info is attached to your transactions, only your crypto deposit or receiving address.
Crypto transactions are much faster than fiat currencies thanks to the use of blockchain technology.

3 steps to start using cryptocurrencies today

As mentioned, getting started with cryptocurrency is very easy. You can become a full-fledged member of the crypto community today if you follow these 3 easy steps to start using crypto.

1. Do your research

If you want to get started with crypto, you’ll need to do a little research first. Fortunately, learning about crypto is actually quite a bit of fun. We’re a quirky bunch in the crypto community and love using acronyms, memes, slang, and funny explanations to teach others about crypto.

Read up on the latest trends, crypto news, and new coins coming into the market, especially if you want to stay ahead of the game. Reading articles such as How bitcoin reached $1,000 for the first time can help you understand the history of bitcoin, and how this applies to the future. You can also visit crypto forums such as bitcointalk.org to get your finger on the pulse of the crypto community.

If you’re looking to start using cryptocurrencies for online gambling, for example, finding out what the best and worst cryptos for gambling are will also be advantageous. You have to understand that the cryptocurrency market is a volatile one, and keeping up to date with what is happening in the crypto space can only do you good.

2. Find a means to store your funds

Once you’ve researched the coins you’d like to get into, it’s time to get your hands on them to start using cryptocurrencies as soon as possible. However, you can’t exactly withdraw crypto and put it in your pocket. You’ll need a digital crypto wallet to store your funds.

Now, this may sound like some techy mumbo-jumbo at first. But setting up a crypto wallet is pretty much just as easy as creating an account with an online store. All you need is a mobile device and a few minor details, and you’re ready to go.

Click on the image above for a full explanation of how crypto wallets work, which types of crypto wallets there are, and how you can set one up today. And please, when getting started with cryptocurrency, make sure you choose a safe and trustworthy wallet to store your funds.

3. Choose a trusted crypto exchange

The final step to get started with crypto is to find a safe and trusted crypto exchange to purchase your coins. This goes hand-in-hand with the first step, research. How to find a safe crypto exchange?

You’ll need to shop around and find out which crypto exchanges offer the best terms with a decent amount of cryptos to choose from. But at the same time, you’ll also need to take user-friendliness and accessibility into account.

Some top crypto exchanges:

Most of these trusted exchanges also offer mobile apps which include crypto wallets. This makes the process of purchasing and storing your crypto seamless. In most cases, all you’ll need to do is download the app, sign up, and you’re ready to start using cryptocurrencies today.

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Start using cryptocurrencies and take advantage today

Congrats, your crypto adoption journey is officially underway. As you can see, getting started with cryptocurrency is fairly easy. We hope you’ve learned a thing or two about using cryptos in this article. But remember, we have tons of articles on the Punt Casino Blog that’ll give you an even deeper insight. But for now, welcome to the party, and may the force be with you.

Learn about HODL and what it means at Punt Casino.

What Does HODL Mean? Looking Back at Bitcoin’s Most Famous Term

December 18, 2022

What Does HODL Mean? Looking Back at Bitcoin’s Most Famous Term

December 18, 2022

Blog » Posts tagged "BTC"

What Is HODL? The History of HODL and Meaning Explained

What is HODL? Before we dig into that, there is 1 thing you should know. Memes and slang words play a big part in communication between members of the crypto community. It’s almost as if knowing the lingo makes you part of the club, and to some extent, it’s true (as juvenile and totally ridiculous as it may sound).

But hey, if you want to join the club, there’s enough room for all. And getting to know the lingo around Bitcoin and other cryptos can be one of the most entertaining, and in the case of today’s article, interesting stages of your indoctrination into the world of crypto. And with that, welcome to the club.

So, what is “HODL”, or “Hodling” all about?

The meme “HODL” is something that you’ll without a doubt come across while dabbling in the world of cryptos. It has become rather synonymous with the crypto space and is an entreaty to hold your bitcoin through bear markets with the expectation that prices will eventually recover.

In modern times, the phrase ‘diamond hands’ has come to replace it in some areas, mostly with the amateur stock market trading crowd. However, “HODL” is the original call to stand firm. But what is HODL? And where did it come from? Let’s find out about the history of HODL.

Surprise, surprise! HODL is NOT an acronym

Many believe that the term HODL stands for ‘Hold On for Dear Life’. This belief refers to the ups and downs of the cryptocurrency markets. It was perpetuated by TV show host John Oliver, who referenced this explanation in his evisceration of the cryptocurrency space in March 2018. However, the real history of the term is much different, and funnier.

The history of HODL starts on December 18, 2013 – two weeks after Bitcoin had broken its all-time high of $1,124 that was achieved only four days earlier. Since hitting this figure on December 4, Bitcoin had experienced a 54% decline. This caused many to believe that Bitcoin had topped out and that the bull run was over. It was a prophecy that turned out to be true.

By December 13, Bitcoin was hovering around $520, with sentiment turning decidedly sour since it was last climbing that level in November. So, what is HODL? Well, at 10:03 AM, BitcoinTalk user, GameKyuubi, who had been a member of the forum since June 2011, wrote and published a now infamous post. This post contained a key misspelling in the title – ‘I AM HODLING’.

That last line is an absolute classic! The post, a helping of word soup that contained mixed capitalization, typos, invective, accusations, regrets, and the not-so-subtle use of language, was written after GameKyuubi had consumed “some whiskey”, which he also acknowledged was misspelled. This, is how the history of HODL began.

“not part of that group”

GameKyuubi informed readers that he was planning to hold bitcoin rather than try and sell at the right time to maximize profit. The reason? “I’m a bad trader and I KNOW I’M A BAD TRADER.” He went on to explain how some traders knew exactly when to buy and when to sell. He also that they were trading on the emotional reactions of other, less experienced souls.

When referring to these expert traders, GameKyuubi asserted that he was “not part of that group”. This is a realization that comes to many newcomers in the crypto space when the Bitcoin price comes down the other side of the mountain having thought they were geniuses on the way up. He crystallized this point at the end of his rant.

“You only sell in a bear market if you are a good day trader or an illusioned noob. The people in between hold. In a zero-sum game such as this, traders can only take your money if you sell.”

A meme is born

If it wasn’t already clear that this would be a post for the ages. One respondent’s simple reply of “HODL!” guaranteed its immortality, with responses such as “WE OL SHAL HODL!” and “Spartans Hodl” coming thick and fast.

One visionary suggested that, “I could see a meme coming from this post with (a) bit of creativity.” He wasn’t wrong. No one needed to ask ‘what is HODL?’ anymore. The notion was immediately clear to all those with any exposure to Bitcoin.

The thread quickly gained popularity. Hundreds of people jumped on board the HODL bandwagon. Although, the message behind it was sorely tested as Bitcoin endured a near 2-year bear market which saw prices plummet as low as $360.

However, comments from the time support the notion that people were indeed HODLing and waiting for the market to rebound, rather than abandoning the principle. This, of course, proved to be the right play.

The last few posts on the HODL thread were made in July 2016 as Bitcoin’s price approached $700 again. This proved the concept was still holding strong:

“Holding is the only thing that makes sense now. Just think about selling now and the price going to 2k in a couple of years.”

Little could this poster have imagined that Bitcoin would hit ten times that figure in a little over half the time. And that, is the history of HODL.

What is HODL today? A solid message

So what is HODL all about these days? The HODL meme has only grown over time as the space has increased in size, valuation, and the number of participants. For obvious reasons, it is particularly prevalent during bear markets when the temptation to sell after having held a loss is increased for fear of further downside.

Along with the general message to hold Bitcoin for the long term, the actual content of the post, which is often forgotten, is also a great lesson for newcomers. Trading in cryptocurrency markets is something that very few people are cut out for. For the inexperienced, doing so is an easy way to lose your bitcoin. Don’t get “rekt”.

Only those who have experience of trading in other markets, or are trying to learn the ropes and are happy to lose money while they do so, should be involved in multiple acts of buying and selling during a bear market.

The vast majority of people, as GameKyuubi says, should simply HODL and not try to outsmart those that are more efficient traders than they are.

HODL is more than a meme

Today, HODL is more than a meme, and certainly more than just a typo – it is almost a franchise. You can buy HODL t-shirts, hoodies, caps, mugs and more. Leaders in the crypto world frequently use the term in their online discussions, and for some, it has come to embody a way of life rather than just a way of preserving wealth.

HODL is becoming a symbol for perseverance and hope, for holding on through the hard times and not giving up, as remembered throughout the history of HODL.

HODL is slowly becoming a 21st-century continuation of the stoic philosophy that dates to around the third century BC. Assuming that it continues to do so, it would be quite something if a drunken typo from a Bitcoin bear market survivor acts as the catalyst to an entire philosophical movement.

The history of HODL is something that those outside the crypto space won’t be aware of. Many will assume, as John Oliver did, that it is a thought-out acronym, rather than a near decade-old misspelling.

Now, however, if you hear anyone trying to make such an outrageous claim, you will be able to proudly explain what HODL stands for – none of that “What is HODL” business anymore – you’re part of the club now.

Learn how Bitcoin reached $20,000 for the first time with Punt Casino.

Bitcoin’s First $20,000 Breakthrough

December 12, 2022

Bitcoin’s First $20,000 Breakthrough

December 12, 2022

Blog » Posts tagged "BTC"

The First Time Bitcoin Reached $20,000 and How

The Bitcoin $20,000 run made many millionaires almost overnight and is remembered as the first time that cryptocurrency really went viral. In this article, we relive those heady days and dig deeper into what happened on the way to the Bitcoin 20,000 breakthrough in some of the most pinnacle moments in its price history.

The roots of the Bitcoin $20,000 bull run

Bitcoin’s $20,000 breakthrough had its roots at the end of the prior bear market. In November 2013, Bitcoin topped out at $1,242 and spent the following 13 months in freefall, with a capitulation event in January 2015 acting as the final flush before the new cycle began.

This flush saw Bitcoin’s price drop from $317 to $152 in just a few days, with mainstream media outlets attributing it to various outside influences, including a hack on the Bitstamp exchange a week before, “anticipation of the Feds selling 100K more bitcoins in light of the #SilkRoadTrial news” in the words of Roger Ver, Russia banning crypto websites, and finally, miners needing to settle their loans.

Whatever the reason, the capitulation put the stopper in the bear market and sparked nine months of accumulation before the price started to rise again and the bull market properly began.

The $1,000 mark was a key level

Nobody took much notice of Bitcoin’s recovery, particularly the media outlets that had predicted its demise – until it crossed $1,000 again. Bitcoin accomplished this 3 years after it had last been there when Bitcoin hit the $1,000 mark for the first time.

Bitcoin remained in this $1,000 pocket for 3 months, finally breaking out and trebling in value by the middle of 2017. The bull market was well and truly raging on, and it was clear that this time around something was different.

More and more first-timers were coming into the market, those who had previously had no interest in Bitcoin but were reading in the news about how it had gone 10x in six months and hearing from friends that now was the time to buy in, which is where the lead up to the Bitcoin 20,000 dollar breakthrough took flight.

Bitcoin fever really began to take hold in the second half of 2017. Popular cryptocurrency exchanges such as Coinbase began to see more Bitcoin purchases than they had ever experienced, as newcomers to the scene raced to pick up a stack.

There was no specific fundamental reason why Bitcoin was experiencing such rapid growth – it was still only accepted in a minority of online stores, and use in the physical world was still largely non-existent.

At the time, a Bitcoin $20,000 price was but a dream, but there were a few companies offering crypto debit cards which seemed to be promising, but this form of adoption was still in its infancy. As before, this bull run was cyclical, with the Bitcoin halving, which had occurred in July 2016, once again providing Bitcoin price history right in dictating a bull run.

The ‘Block Size War’

Despite all the positivity and price increases, there was one issue that threatened to tear Bitcoin apart in 2017 – the block size war. The war over Bitcoin’s block size had been brewing for years, but in 2017, the battle was in full swing. Within the Bitcoin world there were, broadly speaking, two camps – those who wanted Bitcoin’s block size to stay at 1MB, and those who wanted to expand it.

As Bitcoin had become more popular over the years, the blocks that formed Bitcoin’s blockchain were filling up with an increasing number of transactions. This caused transaction prices to increase and the network to become slower, as the only way to get a transaction through in a reasonable time was to pay a higher fee to miners for processing it.

There were various solid arguments on both sides of the block size debate, and a series of attempted compromises led to the New York Agreement in May 2017. This is where Bitcoin-related companies and miners decided to implement SegWit2x – a 2-stage amendment to Bitcoin’s protocol aimed at solving the scaling problem – at least enough to satisfy most moderates.

The birth of Bitcoin Cash

However, this wasn’t enough for some of the ‘big blockers’, who announced that they would launch a competing coin off the Bitcoin blockchain (called a ‘hard fork) if part 1 of SegWit2x was activated as planned in July.

This was a problem for Bitcoin because if the alternative, called Bitcoin Cash, proved more popular than the original, it could have led to this alternative coin becoming the official ‘Bitcoin’, and a Bitcoin $20,000 price never being reached.

When the New York Agreement was announced in May, Bitcoin’s price jumped 65% in nine days. However, the concerns over what might be about to happen with the hard fork caused the Bitcoin price to tumble 30% in the weeks leading up to August 1.

Fortunately, fears over what the hard fork might do were overblown, and when it finally happened, it became clear that the original Bitcoin was still the preferred coin by miners, and the worries were swept away.

As a result, Bitcoin’s price continued on its stratospheric journey, jumping 170% to $4,900 by early September, with the idea that it might double its block size in just a few weeks. But for a Bitcoin 20,000 price to be reached, there was still a lot that needed to happen.

Bitcoin fever hits… hard

By September 2017, Bitcoin fever struck hard. A whole new breed of buyers was emerging, buoyed by the sudden ease with which BTC could be acquired – it was easier than ever to buy bitcoin with a bank card, and the numbers showed. Buying volumes went through the roof on all exchanges, including the newly launched Binance, with those who knew nothing about Bitcoin simply joining in for the ride.

It wouldn’t be long however before a familiar foe would enter the fray and test holders’ strength – China. China had effectively ended the 2013 bull run by announcing that banks were not allowed to handle cash connected to crypto exchanges, severing a vital lifeline at a time when Bitcoin was heavily China-driven.

This time around, in mid-September, the Chinese government went one further – it was banning cryptocurrency exchanges from operating in the country altogether, and there was no hope for a Bitcoin $20,000 value.

Despite the Bitcoin market being much more heavily diversified in 2017 than it had been four years earlier, the market still reacted badly – Bitcoin’s price fell from $4,178 to $3,000.

However, the general direction of the market was too strong for this to have any kind of long-term impact, and many exchanges experienced their biggest weekly Bitcoin buying volume of all time as a direct result, propelling the price from $3,000 to $8,000 in less than two months as Bitcoin shrugged off concerns over China.

Bitcoin Cash takes the lead

The coin experienced one final moment of peril before its race to the Bitcoin $20,000 mark, brought on by the block size war once again. On November 8, the architects of the New York Agreement revealed that the 2x element of SegWit2x, the block size doubling, would not go ahead, citing a lack of support.

This led to a surge of support for the new Bitcoin Cash coin, which rocketed in price while Bitcoin dropped 29% within a few days.

However, this support didn’t last and it was realized that Bitcoin Cash had missed its chance to overtake Bitcoin. Bitcoin Cash’s price surge faded just 4 days after the announcement, and, with the block size wars now over, Bitcoin is prepared to take center stage once again.

Bitcoin futures fuels the fire

Having seen off the competition, it was now purely a case of how high Bitcoin could go. By now, you couldn’t budge with mainstream media outlets discussing its incredible rise, fueling a buying spree that saw exchanges having to limit the number of new registrations on a regular basis. Bitcoin breached $10,000 for the first time at the end of November, leading to one of the craziest months in Bitcoin history, and finally the Bitcoin 20,000 dollar price.

In early December, twin announcements from the Chicago Mercantile Exchange (CME) and the Chicago Board Options Exchange (CBOE) revealing that both had been given licenses to launch Bitcoin futures on their platforms led to one of the most explosive episodes in Bitcoin price history.

The price jumped from $11,600 to $16,500 in just 48 incredible hours. This presented the first institutional adoption of Bitcoin, and Bitcoin enthusiasts reveled in the news.

After a brief drop to $12,750, the coins rebounded and finally, we saw a Bitcoin $20,000 price value hitting the charts on December 17, 2017, marking an incredible run from just $800 the year before.

The mania was out of control, with predictions of $50,000 and even $100,000 doing the rounds. However, as it would turn out, this was to be the end of Bitcoin’s amazing run, with Bitcoin maxing out at $20,000 – for the time being, at least.

What stopped the runaway train?

There are several theories as to why the Bitcoin $20,000 run ended. One of the most compelling is that, contrary to the belief that the introduction of futures contracts by institutional players would help propel Bitcoin further, it actually acted to stop it in its tracks.

Futures markets allowed institutions with balance sheets bigger than Bitcoin’s entire market cap to short it (to place bets that it would go down) and use their influence to make sure it did. In fact, in 2019, Commodity Futures Trading Commission (CFTC) chairman at the time Christopher Giancarlo admitted as much in an interview:

“One of the untold stories of the past few years is that the CFTC, the Treasury, the SEC and the National Economic Council director at the time, Gary Cohn, believed that the launch of bitcoin futures would have the impact of popping the bitcoin bubble. And it worked.”

Bitcoin’s price history suggests that this is exactly what happened, and where Bitcoin would have gone had the U.S. authorities not gotten involved was a matter of much debate. Some who argue that it had been going parabolic for long enough and it was natural that it was going to come back down when it did.

Others, however, argued that with the number of people still waiting to buy in, it could well have kept going for some months more.

Of course, we’ll never know the answer to this question, but the Bitcoin $20,000 run in 2016-2017 will be remembered as the first time the general public got a foot in the door with Bitcoin – a love affair that has only grown stronger as the years have passed.

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Are Crypto Faucets Worth It in 2022?

October 28, 2022

Are Crypto Faucets Worth It in 2022?

October 28, 2022

Blog » Posts tagged "BTC"

How to Use the Best Crypto Faucets in 2022 and Earn Free Bitcoin

Wait a second, free Bitcoin?! Yes, you heard it, free Bitcoin. 10 years ago, that statement would’ve fallen on deaf ears. But today, hearing “free Bitcoin” will have every Tom, Dick, Harry, and Sally scurrying to get a piece of the pie, with free crypto faucets serving them up fresh by the hour.

Crypto faucets are one of the easiest and most popular ways to get free crypto online for doing almost nothing – “almost nothing” being the key words there because when it comes to many of the crypto faucets 2022 has to offer, that’s pretty much what you can expect.

However, it’s still free bitcoin, or other free cryptos, for that matter. And considering the fact that there are actually people out there earning Bitcoin for free on crypto faucet sites, it might be worth a look. Ready to open the tap and find out if crypto faucets really are worth the hype? Let’s start with the basics.

What is a crypto faucet?

If you have no idea what crypto faucets are, have never heard of them before, and are wondering which DIY or hardware stores you can buy them from, then don’t tap out just yet, because we’re about to explain.

Crypto faucets, as misleading as the name may be to crypto newcomers, are actually websites or a crypto faucet app where users can earn free bitcoin online, usually by completing easy tasks such as solving captchas, playing simple games, or watching short advertisements, among others, receiving a small amount of crypto in return.

However, as we all know, getting something for free usually sounds too good to be true, and it also begs the question: what do free crypto faucets get out of the deal, and how does this all work?

How do crypto faucets work?

Many crypto faucets in 2022 are pretty much ad sites, displaying various advertisements on the screen or requiring users to view videos and other ads in order to earn free crypto – ads that the crypto faucet sites get paid for with every clickthrough by users.

What this means is that crypto faucets generate an income through advertising, generating website traffic, or exposing its users to certain information, mostly related to crypto. This is how they fund the “free crypto” that is paid to users for completing the tasks.

The first free crypto faucet was launched in 2010 by a Bitcoin Core developer by the name of Gavin Andresen, who sought to create global awareness of Bitcoin by giving users the opportunity to earn 5 BTC for solving a simple captcha.

Today, that quick and easy 5 BTC payout would be worth just over $100,000 – can you imagine? But, as we all know, it’s not 2010 anymore, and 5 BTC doesn’t just fall into your lap in 2022 – unless you’re claiming the 6 BTC Welcome Package at Punt, that is.

Earn free crypto on the best crypto faucet sites

Using a crypto faucet is very easy, as all you’ll need to do is sign up for an account with whichever trusted crypto faucet app or site you decide to use (we’ll mention a few good ones shortly).

In most cases, the crypto you can earn on free crypto faucets will be displayed in your account balance, and you’ll need to earn a certain amount before you can withdraw.

Remember, you’ll be paid small amounts with each task you perform, as crypto faucets in 2022 pay in Satoshis (1 Bitcoin = 100 million Satoshi), so it might take a while before you can withdraw, depending on the faucet’s threshold and hourly payout amount.

Many of the best crypto faucet websites, such as the original freebitco.in, offer various ways to get bitcoin for free, as well as the opportunity to win some incredible prizes.

After creating a crypto faucet account, you’ll have access to all the different ways to earn free Bitcoin or other cryptos with various menus and guides on the site or app on how to make the best use of a crypto faucet.

Let’s use one of the other top crypto faucets of 2022, Cointiply, as an example. Users can earn “Coins” by completing various daily tasks such as playing games, watching videos, referring other users, and completing surveys, among other ways of earning free crypto.

The primary method of earning Coins is the Cointiply Faucet “Roll & Win”. Here, the user gets a lucky roll after solving a captcha for a chance to win various Coin jackpots for free, which can be done only once every hour. Most crypto faucets and sites have a similar mechanic for the primary faucet method of earning free crypto.

“Coins” are the site’s native currency, and each Coin’s value is tied to the value of the US dollar – kind of like a stablecoin. With this site, in particular, you’ll need to earn a minimum of 50,000 coins before withdrawing Bitcoin in the equivalent US dollar value, or 30,000 coins for Dogecoin, Dashcoin, or Litecoin.

Once you’ve earned enough credits on whichever crypto faucet app or site you use and want to withdraw, you’ll need to provide your crypto wallet address for the payment to be made. If you don’t have a crypto wallet set up yet, we’ve got you covered on that front too with an all-inclusive guide for how to create a crypto wallet.

How to choose the best crypto faucet

Crypto faucets in 2022 may seem very similar to one another at first glance, but you’ll need to dig a little deeper to find the differences between them to decide which is the best crypto faucet for you to earn free crypto. Here’s what to look out for:

How frequently can you use the crypto faucet?

Almost every crypto faucet site where you can earn free crypto has a timer between claims – some sites require only five minutes, whereas others might have you waiting an hour before you can use the faucet again.

The best crypto faucet app or websites will only require a short period of time before you can spin to win free crypto again, but you’ll also need to weigh up the amounts you can win with each roll when taking this point into consideration.

Withdrawal minimums and maximums

Most crypto faucets will only pay a few Satoshis, and in many cases, these will not be paid directly to your crypto wallet. As we mentioned, you’ll have an account balance on the site or app, and you’ll have to reach the crypto faucet’s cashout threshold before you can withdraw. The best crypto faucet sites and apps will have smaller withdrawal limits.

Withdrawal methods and accepted cryptos

Although most crypto faucets will allow you to withdraw funds directly into your crypto wallet when you’ve accumulated enough credits, some may offer different payment methods which might not be as easy. Take the withdrawal methods into account when choosing a crypto faucet app or website to use.

Another important thing to consider is the different cryptos available to earn for free with crypto faucets in 2022. Of course, you want to earn cryptos that actually have value and are fairly prominent in the crypto space – avoid those shitcoins as best you can.

The Final Autoclaim crypto faucet, for example, allows users to claim up to 73 different coins automatically, all at once, on the same page.

How many ways can you earn crypto in the free crypto faucet?

Free crypto faucets might not always offer as many ways to earn crypto as some paid-subscription sites out there, but you will certainly find a crypto faucet app or an online site quite easily that offers many ways to earn Bitcoin for free. Research is key, especially when you want to find a crypto faucet that is worth your time and effort, as minimal as it may be.

Can you make a profit from crypto faucets?

It depends. Have you got the time to log in, watch advertisements, solve captchas, play mini-games, or complete surveys every few minutes for the entire day? The truth is, crypto faucets do offer the opportunity to earn free crypto, but it does take time and effort.

The problem with many crypto faucet users is that they don’t have the stamina to complete enough tasks to earn enough crypto and reach the cashout minimums. Many lose interest, give up, or simply just forget that they’ve signed up with crypto faucet sites in the first place, and never get to the point where they can actually withdraw free crypto.

Since it doesn’t really cost you anything to sign up and use free crypto faucets, then yes, you can certainly make a profit. But reaching the point where you can actually cash out free crypto is another story. But hey, you can always find a crypto faucet app or site with a low withdrawal minimum, earn free crypto, and come multiply your money in over 1,000 casino games at Punt!

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Explore the world of crypto with Punt Casino!

If you’re new to the world of cryptocurrencies and you’re looking to explore, crypto faucets in 2022 are a good option if you want to earn crypto for free and discover what digital currencies are all about.

As the fastest-rising crypto casino in the world, Punt offers many ways to learn about crypto with loads of crypto guides and information packed into our site, so if you’re looking to learn, our blog is a great place to start – not to mention our five-star selection of crypto-friendly games that could see your crypto faucet earnings turn to jackpot payouts with a click of a button.

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Want to Know More About Crypto Gambling?

Changelly – The New Onboard Crypto Exchange for Seamless Deposits at Punt

What is Changelly?

How to buy crypto using Changelly at Punt Casino

Check out with MoonPay

What are the benefits of using Changelly to buy crypto?

Benefits of Changelly:

Choose Changelly for easy card-to-crypto deposits today!

Is Bitcoin the Future of Online Gambling?

The Current State of Bitcoin Gambling

Why Players Are Choosing Bitcoin Casinos Over Regular Online Casinos

Benefits of Bitcoin Gambling

The Future of Bitcoin Gambling

Crypto Gambling Trends Shaping the Future of Online Gambling

Metaverse Casinos

Decentralized Gambling

Seamless Payment Methods

Provably Fair Games

Bitcoin Casinos: The Future of Online Gambling

Bitcoin Casino FAQs

What are Bitcoin casinos?

Are Bitcoin casinos legal?

Are Bitcoin casinos safe and secure?

Can you win real money at a Bitcoin casino?

How do you deposit and withdraw money at a Bitcoin casino?

What types of games are offered at a Bitcoin casino?

What are the advantages of playing at a Bitcoin casino?

The Do and Don’ts of Using a Safe Crypto Exchange

What you should do when using a safe crypto exchange (Dos)

1. Do conduct research before registering

2. Double-check your transactions

3. Do use all available security protocols

4. Do use tax software to record your activities

5. Do keep a whitelist of addresses

What you shouldn’t do when using a crypto exchange (Don’ts)

1. Don’t be greedy!

2. Don’t keep all your funds on there

3. Don’t publicize your success

4. Don’t be wedded to one safe crypto exchange

5. Don’t download more apps than you need to

Start using safe crypto exchanges today!

3 Easy Steps to Start Using Cryptocurrencies

What exactly are cryptocurrencies

Why use crypto?

3 steps to start using cryptocurrencies today

1. Do your research

2. Find a means to store your funds

3. Choose a trusted crypto exchange

Some top crypto exchanges:

Take advantage of crypto gambling at Punt Casino

Start using cryptocurrencies and take advantage today

What Is HODL? The History of HODL and Meaning Explained

So, what is “HODL”, or “Hodling” all about?

Surprise, surprise! HODL is NOT an acronym

“not part of that group”

A meme is born