Two New Cryptos Coming to Online Casino – BNB and Dogecoin

Here at Lucky Star Online Casino we're always looking for ways to make your experience better.

That's why we're happy to be able to offer our players the option of depositing and withdrawing with two more popular coins - Dogecoin and BNB.

With these new payment methods, you can enjoy a smoother casino experience with faster deposits, withdrawals, and transactions.

Image by: Furtherfield

Dogecoin

Dogecoin is a cryptocurrency featuring the likeness of the Shiba Inu dog from the "Doge" Internet meme as its logo. It was created as a "joke currency" in December 2013 and is based on the same protocols as Litecoin (another altcoin).

Dogecoin quickly attracted its own online community on reddit, where it is used to “tip” the creators of good content. Something similar to a “like” on facebook, just with cryptocurrency.

Dogecoins are produced based on the Scrypt algorithm, like Litecoin. But mining times are much faster than for other cryptos, averaging at about one block per minute. 

This means that transaction times are also only one minute on average. These ultra-fast transaction times are perhaps the biggest advantage to Dogecoin. But the low transaction fees come in a close second.

Unlike other cryptos, there is no maximum cap on the amount of dogecoin that can be mined (or “dug” because dogs don’t mine).

Binance Coin (BNB)

BNB was founded by the popular crypto-exchange Binance.

It was originally built on the Ethereum blockchain but later migrated to its own, the Binance blockchain.

It can be purchased on the Binance exchange with any of the multiple other cryptos that are supported on the site, or for fiat currency, via credit card.

Users receive a 25% discount on fees for any transaction involving BNB on the Binance exchange.

Image by: Bxalber

Binance burn

When it was first issued three and a half years ago, 200 million coins were released into circulation.

Since then, the Binance exchange has used part of its profits to buy back and burn (destroy) a portion of these coins every quarter.

The idea is to destroy half the coins, thereby limiting the total amount in circulation to 100 million, as an anti-inflationary measure.

In the latest burn, Q4 of 2020, a total of 3,619,888 BNB, equivalent to $165,791,000 USD worth of tokens were destroyed. This lowered the number of tokens in circulation from 174,152,713 BNB to 170,532,825 BNB. 

Since the New Year, both Dogecoin and BNB have seen their prices fluctuate. Doge hit an all-time high of $0.082605 on Feb 8^th, 2021, before falling back to its current level of around $0.05.

BNB also experienced a surge in February, jumping from $50 to just over $300 in the first three weeks of the month. It is currently fluctuating between $200 and $300.

Pay in crypto, play in fiat

This kind of volatility is a characteristic shared by nearly all cryptocurrencies. Which is why at Lucky Star, you can pay in crypto but play in fiat.

When you deposit with any of the cryptocurrencies supported on Lucky Star, your funds are automatically converted to fiat before being deposited in your account.

This allows you to play with peace of mind, as you know exactly how much your bets are worth.

If you decide to withdraw money from your account in cryptocurrency, your funds are automatically converted back into your crypto of choice before winging their way to your wallet.

To deposit funds into your Lucky Star account using cryptos, just click on the Cashier, then the Deposit tab. Click on the crypto of your choice and enter your wallet details and amount you wish to deposit in the window that will open. Click Deposit and your funds will be in your account before you know it.

Withdrawals are just as simple. Click on Withdraw in the Cashier window and follow the steps outlined above. Your funds will be transferred to your wallet as soon as the request is approved by our team. Good Luck!