1xBit Introduces DAI Stablecoins as a New Gambling Currency

The decision by 1xBit.com to integrate the DAI token as a currency means punters who love anonymous betting now have more options to make faster and easier payments.

The DAI token is a stablecoin built on the Ethereum blockchain, with its value equal to one US dollar. It also serves as the key to the MakerDAO lending system. DAI is created whenever a loan is taken on the MakerDAO. It is the official currency of the lending system, used by users to borrow and make payments.

When the DAI coin is created, it operates as an Ethereum stable token. Users can pay for different items with the stable coin by simply transferring through Ethereum wallets.

What makes the DAI token special is how the price is kept constant. This happens through smart contracts that are automatically executed. If the DAI price shifts too far from a dollar, MKR tokens are created or burned to stabilize the price.

The algorithms of the MakerDAO platform manage DAI prices automatically. This makes it independent of any system or person to keep the currency steady. Holders of MKR benefit when DAI remains one dollar as the supply of MKR decreases and becomes more valuable and rare. To date, the DAI token has been stable for more than three years and has experienced only little fluctuations.1xBit now accepts the DAI stablecoin.

The introduction of DAI to the 1xBit’s platform adds to the list of stable coins already available on the site. 1xBit continues to expand its number of available currencies and provide more betting opportunities.

To get maximum profit from the coin, 1xBit offers all DAI-holders to make deposit of at least 150 DAI and get a wonderful prize – 50 free spins in Betsoft’s “QUEST TO THE WEST!” slot game. The offer is time-limited, hurry to grab your gift!

More about 1xBit

Founded in 2016, 1xBit is one of the leading cryptocurrency gambling platforms. It offers many sports betting options and thousands of casino games. Here are benefits you’ll enjoy when you gamble on 1xBit:

• Welcome bonus: New members on the site can get up to 7BTC bonus cash for their first 4 deposits.
• Multicurrency account: Choose one of 30+ coins available and get the option to change your currency at any time.
• Instant payouts: 1xBit’s payment system is based on cryptocurrency. Thus, you’ll experience no delays in getting your cash when you request withdrawals. Your money is credited instantly to your wallet!

Stay up to date with 1xBit and be the first to find out its latest bonuses:

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Editorial Note: This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article.