CEZA Suspends Operations of 3 Cryptocurrency Exchanges
September 20, 2019
Cagayan ecozone authority in the Philippines ordered the suspension of three cryptocurrency exchanges. How is this related to offshore gaming operations?
If you’re looking a for a truly decentralized betting platform wherein you can wager on sports, politics, esports, and just about any event with distinct possible outcomes, then you should check out Kryptium.
But you need to understand that Kryptium is different from most crypto and fiat casinos. In fact, it is neither a casino nor a sportsbook, because it is, as it calls itself, an event-based peer-to-peer betting platform.
This dApp, which runs on the Ethereum blockchain, is still in its early stages at the time of writing, with the very first version launched in December 2018. You should also know that Kryptium works as an application and cannot be accessed through any website.
Only desktops or laptops, however, can launch the app for now as a mobile version is not yet available (more about this in the Games and Software section below). This gives the platform the freedom to be accessed by players from any country.
Kryptium isn’t well-known yet in the crypto betting space, but you can reach out to team through its official Bitcointalk thread. No email support seems to be set up just yet, but the team can be contacted via the social accounts linked below.
You won’t find typical casino bonuses here like free spins, but this dApp does seem to have plans when it comes to promotions.
Kryptium launched on March 29 its Welcome Campaign, which has two phases that give away these prizes:
For Phase 1, players need to achieve certain tasks like following the Kryptium accounts on various channels to join the draw. Players should complete the tasks during the set period of March 31 00:00 (UTC) to April 6, 2019 23:59 (UTC). Ten lucky members will be drawn, and each would win $30 in ETH.
For Phase 2, only the Phase 1 winners can qualify. And the Phase 2 promo may be cancelled if the number of Phase 1 winners are fewer than 10. In the event that the Phase 2 promo pushes through, winners will be drawn and each will win $100 in ETH.
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You need to download the Kryptium app first and install on your computer as you won’t be able to access the platform anywhere else. If you prefer to wager on mobile, you need to wait until the team finalizes its mobile-compatible app. Based on the roadmap, a ‘progressive web app for mobile devices’ is scheduled for the H1 2020 launch of version 3.0.
As to what you will actually bet on, Kryptium offers various betting events, be they about sports, esports, politics, etc. What’s even better is you can choose to open a new bet or match a bet.
When opening a new bet, you simply choose an upcoming event, select your preferred bet type (pool, head-to-head, or multi-player), add a winning forecast, and define your stake. But if you want to match a bet, look for your preferred upcoming event. Choose Join Bet for pool bets then choose a winning forecast. You can also choose Match Bet for head-to-head and multi-player bets, then define your stake.
Another winning feature on Kryptium is you can select your preferred betting house and you can create your own betting houses. Just make sure that all events added to the house have distinct possible outcomes. These betting houses can also be deployed on different networks: Ethereum Classic, Expanse, PRIL, Callisto, Ellaism, POA, and Musicoin.
Although decentralized, Kryptium cannot be accessed through a wallet. It requires you to set up an account sans the KYC protocols. This account will serve as your game account which will automatically give you an ETH-based betting wallet. Through this wallet, you can receive ETH from and transfer ETH to your external wallet, as well as add ETH to your betting account. No other cryptocurrencies work on this platform.
Transferring ETH from your external wallet to the betting wallet is easy. You simply send the funds to the address of your betting wallet and wait a few seconds for confirmation. Each confirmation may take 30-60 seconds or even less. The next step is to send ETH to your betting account from your betting wallet. When you transfer the funds you will use as your bankroll, you need to pay a small transaction fee. Once the transaction is confirmed, you’re set to start betting.
There are no limits on how much you can win, but what’s even better is there are no taxes and limits on your withdrawals. As for the process, simply send the ETH you wish to cash out from your betting account to your external wallet. The speed by which your withdrawal transactions get confirmed depends on the amount cashed out.
Kryptium stands out from other decentralized betting apps because it doesn’t offer the typical casino games like dice, slots, and table games. If you want to bet on distinct outcomes of popular events, like in sports or politics, using ETH, then you should consider downloading this app. Just keep in mind that the Kryptium app is not 100% complete at the time of writing and is not yet optimized for mobile use. This platform is not yet well-known in the blockchian gaming space, so offering more engaging promos and creating a dynamic community should be the next step from the Kryptium team. Install the Kryptium app on your computer, transfer small amounts of ETH as bankroll, and see if this site is what you’ve been looking for.