What is Rollbit Coin (RLB)?
In the world of cryptocurrency and online gambling, a fresh player has appeared – RollBit Coin. Designed to upgrade security and transparency in the arena of virtual gaming, RollBit Coin offers an exceptional combination of digital finance plus fun.
Let’s dive into what makes RollBit Coin a noteworthy development at this junction.
Rollbit Coin (RLB) is a cryptocurrency native to the Rollbit platform, mostly utilized as an entry ticket for lottery entrants. Its purpose is to provide gamers with secure transactions and improved gamer experience when it comes to playing games on the platform.
Additionally, it also incentivizes players who hold larger amounts by awarding them extra rewards from time to time, which adds more elements of excitement while playing different games like slots or dice on its website.
In this lotto, twenty percent of the casino’s earnings are divided between regular rewards and a jackpot in the ratio of 70:30. Every 100 Bitcoin blocks presents an opportunity for one hundred contestants to win prizes.
If you want to join it, staking RLB is necessary, but there will be a 0.20% fee charged, which has two purposes. Half of that money is gone forever so it creates a deflationary token effect while the latter part goes back to those Rollbots who have taken part in the lottery round as an incentive after each draw.
Historical Background of Rollbit Coin
Rollbit Coin (RLB) has an origin that is closely connected to the Rollbit platform which was created to maximize user interaction and promote community growth.
The Genesis of Rollbit: When and Why?
Rollbit released its own token, RLB, in 2023. This signified its entrance into the world of utility tokens. Instead of using Initial Coin Offerings (ICOs), it decided to go another route – 100% of coins were given away as airdrops among the users without any cost at all.
It began on Solana Blockchain when they first launched it. Despite the advantages of this cryptocurrency, Rollbit eventually switched RLB to the Ethereum blockchain due to some hiccups in its system. This move was meant to give users a more satisfying experience.
As time went on, numerous transformations took place, and 2023 saw an introduction of the ‘Buy & Burn’ event as a deflationary mechanism that showcased dynamic development in RLB’s utilization and governance framework.
Blockchain Technology: The Backbone of RLB
The incorporation of Blockchain technology has been a fundamental piece for Rollbit Coin’s (RLB) architecture.
Here’s how it helps:
Ensuring Transparency and Trust
The blockchain’s indestructible ledger makes sure that every transaction and lottery result stays recorded forever, giving a definite history associated with Rollbit Coin.
This kind of transparency earns the trust of users as they can check for outcomes independently, making sure there is fair play within the platform.
Changing from Solana to Ethereum blockchain also shows the flexibility in choosing which infrastructure goes along with RLB needs. On top of all this, being on Ethereum adds more credibility to the coin’s operations.
Decentralization: A New Dawn
By running on a decentralized system, RLB passes through rounds without any central control or interference, thus upholding fairness among everyone involved.
Taking into account the deflationary nature triggered by staking fees, you can see (DeFi) principles at work attempting an equitable economic model suited for each member participating.
The decentralized framework empowers holders even further as they take part in the RLB ecosystem — creating a community-centered environment altogether. On this platform, the benefits are shared among all stakeholders.
Smart Contracts: The Mechanism of Trust
Smart contracts serve as the foundation for automating transactions on the Rollbit platform, particularly within the context of the RLB. Some ways by which it helps include:
Automating Transactions
The self-executing contracts with the terms directly written into code automate the distribution of lottery prizes and the staking process at Rollbit.
This ensures a seamless, automated, and efficient transactional framework.
Additionally, the integration of smart contracts facilitates quick transactions – be it the distribution of rewards or the staking of RLB for lottery participation. With this, the need for intermediaries is completely eliminated. And it also reduces the time lag that traditionally accompanies such processes.
Reducing Fraud and Delays
Smart contracts encode the terms of transactions directly onto the blockchain, significantly reducing the scope for manipulation or fraudulent changes. Once deployed, the terms within a smart contract cannot be altered due to the blockchain’s rigid nature, which builds trust and security.
In addition to this, the automation facilitated by smart contracts ensures prompt execution of transactions and distributions, effectively reducing delays and potential disputes. The execution of contracts is achieved by leveraging the Ethereum blockchain, known for its robust smart contract functionality.
The Utility of Rollbit Coin
The Rollbit Coin (RLB) is described as a utility token that provides holders with exclusive benefits on the Rollbit platform. Its market capitalization soared to $200 million within just 11 days, showcasing its potential and the community’s interest.
Gambling Industry Disruptor
Rollbit is making a name in the gambling industry with its crypto-centric approach. A report highlighted that Rollbit is a fair crypto casino. Plus, it also revealed that its house edge is as high as 5% in popular games like X-Roulette and X-Crash.
This level of transparency and the use of blockchain technology could be seen as a disruptive force in the traditional gambling industry, where often the odds are perceived as stacked against the players.
Community Engagement and Rewards
Rollbit offers a competitive, instant rakeback with every bet placed, which grows the user’s rakeback, enhancing the overall gaming experience.
Players can claim a 5% rakeback on all bets every 30 minutes, with 50% of the amount credited to the user’s balance immediately.
The remaining 50% will be credited to the Rewards Calendar split over three days. This instant gratification and reward system certainly boosts user engagement and loyalty. Additionally, players receive a Daily Bonus every 24 hours, further increasing activity on the platform.
The platform also provides hefty rewards through other mechanisms like Cashback, Rollback, and Rank up bonuses.
The Economic Model of Rollbit Coin
Here’s a brief overview of RLB’s economic model:
Supply Dynamics
The supply dynamics of Rollbit Coin (RLB) are initially set with a distribution where 1,143,250,000 RLB (22.865% of the total supply) are distributed via several airdrops to users’ Rollbit accounts and giveaways.
In addition, the remaining bulk of the supply, 3,856,750,000 RLB or 77.135%, is allocated to Rollbot stakers in line with the rarity of a particular trait they possess.
Demand Drivers
The utility of RLB in accessing exclusive benefits, participating in the platform’s games, and being part of promotional events, which can drive demand.
Furthermore, the integration of RLB with the platform’s reward system is a key factor.
In addition to this, RLB tokens serve an important purpose in a lottery system wherein they act as entry tickets. This offers users the chance to win money from the casino’s profits – contributing significantly towards the increased demand for Rollbit Coin.
Security Measures
Here are some ways by which the RLB platform ensures the safety of its users’ data:
Protecting Users’ Funds
Rollbit safeguards user funds primarily by facilitating cryptocurrency transactions, eliminating the need for users to provide sensitive financial information. A crypto-centric approach makes sure that user data and privacy remain secure while adhering strictly to regulatory compliance standards.
Regulatory Compliance
Initially, Rollbit operated under Curaçao regulations which are known for being at the forefront of online gambling rules. However, after introducing cryptocurrency derivatives features, their license was not renewed anymore.
Although Rollbit is not currently licensed by any regulatory authorities, the platform still emphasizes following anti-money laundering policies that are in line with EU regulations. As for customer verification, there’s no need to provide KYC details while signing up; however, users may be asked to confirm their identity at a later point.
How to Acquire Rollbit Coins
Let’s get familiarized with how you can acquire Rollbit Coins:
Buying on Uniswap: a Step-by-Step Guide
- Head over to its official website and connect your wallet by clicking the “Connect To Wallet” button located at the top right corner of the page. You could use wallets such as MetaMask or Trust Wallet.
- Add the RLB Token to Uniswap. If not already listed, you may need to manually enter it using the Rollbit Coin (RLB) contract address.
- In the “Swap” section, specify how much Ethereum (ETH) you want in exchange for RLB.
- Review transaction details like gas fees and then click on “Swap.”
- When prompted, approve your wallet transaction.
- Wait till the network confirms the transaction.
- Check your account; The purchased Rollbit Coins tokens should show up now!
Earning Through Gameplay
- Rakeback: Earn 1 RLB for every $1 claimed in rakeback. Rakeback means rewards based on every fee contribution while playing any casino game available through the platform.
- Cashback: Get 2 RLB for every $1 claimed through cashback. You can get rewards from your gameplay losses in the form of Rollback (RLB).
- Rollback: Earn 3 RLB for every $1 claimed through rollback. Depending on specific gaming tasks or activities you do, you might receive rollback rewards that involve getting some money returned out of what was spent when playing.
- Level Up Incentives: Receive 5 RLB for every $1 in Level Up incentives that you claim by progressing and participating on the Rollbit platform.
- Rollbot NFTs: If you have a Rollbot NFT attached to your profile, you’ll receive double the RLB prizes for completing tasks when betting on casino games or trading cryptocurrencies.
Participating in Promotions
- Deposit NFTs: Claim RLB for each NFT deposit, especially for NFT collections supported by Rollbit. For example, if there’s an ongoing promotion like depositing well-known NFTs from collections such as CryptoPunks and Bored Ape Yacht Club, then participating within its terms could land you up to 100,000 RLB.
- Staking Rollbots: Passively earn Rollbit Coins by staking Rollbot NFTs in the NFT Marketplace. If you stake Rollbots, you will receive 0.1% of RLB, which was taken as fees after every lottery round. This is in addition to the 50% profit share that Rollbot NFT holders receive, funded by NFT Marketplace sales.
Future Projections for Rollbit Coin
There’s a positive and less desirable side when it comes to the RLB coin. Let’s understand both in the following sections.
Upcoming Developments
While RLB’s value fluctuates based on market factors, just like other cryptocurrencies, active participation from community traders and investors can drive prices up meaningfully over time.
It’s anticipated for potential capitalization increase throughout 2025 because of the trends seen now. If all goes according to plan, speculations suggest Rollbit Coin may reach an estimated peak of $0.5770 before the year ends.
Challenges and Concerns
Rollbit Coin is going through some tough times right now, containing worries linked to its license and regulatory reputation.
Recently, the value of this cryptocurrency has dropped significantly – by 20% in just 24 hours.
The main problem here lies with Rollbit’s attempt to restore their license from Curaçao – an area renowned for offshore online gambling businesses.
Although Rollbit stated that it’s devotedly connecting with licensors to take on these questions and make sure transparency. However, uncertainty regarding this situation has created a dark cloud above the coin’s future prospects, which eventually resulted in the recent price falloff.
Conclusion
Rollbit Coin combines cryptocurrency and online gambling which depicts a huge development in the world of digital finance and entertainment. Its efforts to improve security, transparency, and efficiency in the gambling industry increase the possibilities of a future where people can play their favorite games with higher transparency levels.
We Coin-Labs.com provides only objective information about Rollbit Coin.
Therefore, we are not responsible for the investment decision in Rollbit Coin and the resulting loss.
Rollbit Coin Basics
Here are some factors that investors should consider before investing in Rollbit Coin.
| Cryptocurrency Features | Rollbit Coin (RLB) |
|---|---|
| Publisher or Developers | Razor, Lucky |
| Headquarters (Registration Number) | Curacao |
| Symbol | RLB |
| Platform | Ethereum |
| Published Date (CMC Registration) | 2024-11-01 |
| Max Supply | No limit |
Reliability Score of Rollbit Coin in 2024
These are indexes mesuring the investment reliability of Rollbit Coin conducted by Coin-Labs.com.
| Investment Reliability Rating Items | Scores and Current Status |
|---|---|
| Company Activation Rate | / 10.0 CAR |
| Communication Rate | / 10.0 CR |
| Technology Transparency Rate | / 10.0 TTR |
| Development Participation Rate | / 10.0 DPR |
| Listing Status on the World's Top 10 Exchanges | Listed on 0 Exchanges |
| Number of Available Pairs Worldwide | 86 Pairs |
| Market Cap of the Cryptocurrency | 452,666,800 USD (Rank #219) |
The table above shows the result of investment suitability evaluation for Rollbit Coin.
Check out how we evaluate cryptocurrencies on the crypto rating description page.
Rollbit Coin Price
Here are the price and recent trading volume of Rollbit Coin. (Data of 2024-11-02 00:35:00)
| Price Items | Price and Trading Volume of Rollbit Coin |
|---|---|
| Rollbit Coin Price | 0.066 USD |
| Price Change 24h | -0.13% |
| Price Change 7d | 2.68% |
| Trading Volume 24h | 1,185,188 USD |
| Trading Volume Change 24h | -13.01% |
Cryptocurrency Metadata
You can check the development status and social media information of Rollbit Coin through the links in the table below.
| Metadata Source | URL |
|---|---|
| 🌎 Official Website | |
| 📖 White Paper | |
| 🛰️ Source Code (GitHub) | |
| 🎺 Message Board |
Where to Buy Rollbit Coin
Here are the top ten world crypto exchanges where traders can buy Rollbit Coin in 2024.
| Top10 Exchanges | Listed Status | Page URL |
|---|---|---|
| Binance | Not listed | |
| Coinbase | Not listed | |
| Kraken | Not listed | |
| KuCoin | Not listed | |
| Bitfinex | Not listed | |
| OKX | Not listed | |
| Huobi | Not listed | |
| Bitstamp | Not listed | |
| Bybit | Not listed | |
| Gate.io | Not listed |
Frequently Asked Questions
What is the current price of Rollbit Coin?
Rollbit Coin price today is 0.066 USD. Furthermore, the price of Rollbit Coin has fluctuated by -0.13% from 24 hours ago, and by 2.68% from a week ago.
Where is Rollbit Coin listed?
Currently, it is listed on a total of 0 among the world top 10 exchanges.
What is the market cap of Rollbit Coin now?
Currently, Rollbit Coin has a market cap of 452,666,800 USD, which is ranking 219 among cryptocurrencies worldwide.
How much is the trade volume of Rollbit Coin?
Currently, 2,384,438,119 RLB coins are circulating through 86 market pairs. As a result, in the last 24 hours, 1,185,188 USD of RLB coins were traded in the market.
