mBit Casino is an online casino that has been created with Bitcoin players in mind. A number of different cryptocurrencies are catered for and there is a wide selection of different games from leading developers.
The mBit Casino has been around since 2014 and is under the operation of Direx NV Casinos. This parent company operates a lot of other popular online casinos, meaning that it has a lot of experience in the space.
It is under the regulation and oversight of the Curacao government. The platform aims to protect the privacy of its players, allowing people to gamble online in an anonymous manner.
This offering is a bit different than what you would normally see with other Bitcoin casinos, being a bit more complex in nature. This mBit Casino review looks at all of the respective aspects of this offering, helping you to determine if it is a good fit for you and your online casino needs.
mBit Casino Offering
When you enter the mBit Casino, you will be faced with numerous different types of game options.
For slots players, there are more than 2,600 different titles to choose from, with all of the major slot styles catered for. This is a stunning range of games, meaning that you will never get bored by this offering. Video slots, classic slots and feature slots are all on offer.
You can also play games from some top developers such as Amatic, Red Tiger Gaming, Play’N GO and Betsoft. You can quickly sort through the titles by the developer if you wish to do so. Each of the slots can also be played for free initially if you want to test them out and not put real money on the line starting off.
For fans of progressive jackpot slots, there are more than 100 different options to choose from, some of which have very lucrative prize pools. At the time of writing, there were 116 different video poker titles to play.
For table games, you also are spoilt for choice with the mBit Casino offering. Dozens of different blackjack variants are available, ranging from high roller games to double hand options.
With roulette, there are more than 100 different options when including live dealer games, something which would be hard to find elsewhere. You have all different types of regional roulettes, as well as the likes of speed and auto roulette.
There are also the likes of Baccarat and niche casino games such as Sic Bo and a wide range of dice games to have a look at.
One of the newest aspects of the mBit Casino offering is that of the mBTC races. These are races that take place over three hours and are in operation every day.
You play casino games during the three-hour windows and the top positions in the leaderboard will get rewarded. Currently, there is 6 mBTC handed out every three hours.
mBit Live Casino Offering
There is a live dealer casino at the mBit Casino. This is powered by the leader in the live dealer space, Evolution Gaming.
This means that you can be confident that the live dealer experience is going to be top-notch as you are using such a high-quality operator. In total, there are 53 different live dealer game options for you to try out.
You have multiple options for the likes of blackjack and roulette, as well as having access to live dealer games for the likes of Dream Catcher, Baccarat and casino hold’em.
There are many different lobbies you can test out depending on what sort of betting limits you are looking to play with. All levels of players from beginners to experience live dealer players will be catered for.
The streams are in HD quality and the overall experience is very immersive. Most of these live dealer games are also available on the mobile version of the mBit Casino.
Most online casinos will utilize welcome offers to try and entice new people to signup for the platform. This is no different at the mBit Casino. There are a few different aspects to this welcome offer.
No deposit bonus
One of the favorite types of bonuses that an online casino player will look for is a no deposit bonus. This means that you will get a reward for just signing up for an account, with no deposit required.
At the mBit Casino, this no deposit bonus will see you get 50 free spins after signing up and verifying your phone number. If you do not want to add a phone number to your account, you cannot avail of this offer.
You have a week to use these free spins and any winnings will need to be wagered at least 50 times before you can cash them out. There are a few different slots titles that you can use these free spins for.
To meet the wagering requirements, there is a max bet of 0.0015 BTC and you can only wager these funds on slot games.
Another popular way for many online casinos to reward new players is by giving them deposit bonuses. At the mBit Casino, you will get access to a deposit bonus for each of your first three deposits.
For your first deposit, it will be matched 110% up to a max bonus of 1 BTC and you will also get 250 free spins. For your second deposit, you will have it matched 50% up to a max bonus of 2.5 BTC. Finally, when it comes time to make our third deposit to your mBit Casino account, it will be matched 75%, up to a max bet of 1.5 BTC.
These bonus funds will be valid for thirty days, during which time you will need to meet the x35 wagering requirements. The free spins for the first deposit bonus offer will be credited at a rate of 50 free spins per day.
To get these free spins, you need to have deposited at least 0.05 BTC. The same rules for max bets to meet wagering requirements are in place and you can only meet the wagering requirements through slots games.
Overall, this is a solid welcome offer. The no deposit bonus will only be available to those users who want to add a phone number to their account. The size of the deposit bonuses is decent, with the wagering requirements being standard.
The main downside is that you can only meet the wagering requirements through playing slots.
Regular Promotions and Loyalty Program
For existing players at the mBit Casino, there are promotions that they can avail of tho thanks them for their loyalty to the platform. These will change every so often. There are regular promotions for special times of the year, such as Valentine’s Day or Christmas.
There are also daily and weekly leaderboards for those playing casino games, with a variety of prizes available for those who finish near the top of the rankings.
Certain days of the week will have their own types of promotions. For example, every Friday you can get up to two 100% bonuses. Another great offer that is running at the moment at the mBit Casino is that you get 20% cashback on your losses every day of the week, up to 0.1 BTC.
Overall, there is a nice variety of promotions for existing mBit Casino players.
There is a loyalty program in place at the mBit Casino. The perks will differ depending on what cryptocurrency you use in order to play your favorite games on the platform.
For Bitcoin users, the VIP rewards program is called Planet Bitcoin, You will need to earn 4,750 loyalty points in order to enter into this program.
You will get an x5 boost to your comp points when playing games, a 20% cash back bonus on losses, weekly reload bonuses and a milestone bonus to name a few of the perks.
All of the tiers will offer you access to a dedicated account manager, as well as exclusive bonuses and personalized rewards. For the high rollers, there is a special tier called ‘The Moon’ that is only accessible for those who get invited by the mBit Casino team.
You have the option to deposit via crypto or fiat currency with the mBit Casino platform. If you are looking to use cryptocurrency, you can add funds using Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dogecoin or Tether. Naturally, the processing times for crypto deposits will be instant.
There are limits on how much you can deposit and withdraw with these methods. For example, you need to deposit at least 0.0003 BTC and there is no limit as to how much you can add. When cashing out using Bitcoin, you will need to withdraw at least 0.001 BTC and a max of 10 BTC in transactions in a monthly period, being 3 BTC for withdrawals in a given week.
The fiat currency methods on offer are Visa and MasterCard credit cards, ecoPayz, Venus Point, iDebit, bank transfer, AstroPay, Accentpay, Qiwi, CashtoCode, Neosurf, Paysafecard, Neteller or Skrill.
These methods generally will have lower limits in place that if you were using crypto as your main payment method. The max cashout for most of these fiat options is set at $4,000.
They often are slow also when it comes to your withdrawal processing, some taking a number of business days. There are a number of different supported fiat currencies for you to use.
As mBit Casino is a Bitcoin casino, you know that your personal info is going to be kept safe and sound. This is because you are able to sign up for an account anonymously, not having to submit the usual types of personal information that you would if you were using fiat currencies.
This gives you peace of mind that none of your personal details or data is vulnerable in case there is an attack on the mBit Casino platform. Naturally, if you are using fiat currencies on mBit Casino, you will have to add all sorts of different personal info and submit the likes of a photo ID and proof of address in order to use the platform.
The platform itself is under the watchful eye of the authorities in Curacao. This ensures that all of the games you are playing are fair and are not rigged against the players.
The website utilizes the latest in encryption technology to keep safe and personal info you may have submitted to the mBit Casino. Generally, the platform takes matters of personal data security very seriously.
In terms of making transactions, the benefits of using crypto to add and withdraw funds are well-known. There are regular audits completed on the site’s games by trusted independent firms to ensure that all of the games are fair for all layers. However, there is no documentation of the fairness testing for each individual game given on the platform.
If you have a question or concern that relates to the mBit Casino platform, your first place to go usually will be to the FAQ section. This can be found on a section by section basis in the footer of the website.
If you do not find a solution to your answer there, then you will likely want to get in touch with a member of the mBit Casino customer support team. The quickest method will be using the live chat function.
This promises to answer all requests within five minutes. This is an ideal method if the issue you are having is simple and straightforward. It is also a service that is open on a 24/7 basis, which is ideal. For more detailed issues, you can send the support team an email. This allows you to resolve more complex issues, usually getting a response from the mBit Casino team within a day.
There is also a chat feature that updates in real-time where you can chat with other users of the mBit Casino site. You can often get useful answers to questions there from fellow online casino players.
If you are looking to play on the mBit Casino through a mobile device, you are able to access the site through your mobile device’s web browser. This will be preferable for those people who do not want to download an app onto their mobile device.
Most of the popular web browsers will be supported. You will have access to a lot of the games on the desktop version, including the live dealer offering.
At the moment, there is no dedicated app for you to download. This is a bit disappointing because playing casino games on a mobile device is usually a lot better when using a dedicated app rather than simply using a web browser to do so.
The lobbies on the mobile section are a bit clunky, with more up to date browsers performing a lot better than older versions. Most types of popular mobile devices are able to access this instant play website.
The mBit Casino desktop platform is a bit clunky when you compare it to a lot of other leading crypto online casinos in the space today. Everything is clearly laid out, which is ideal.
You can quickly toggle between the different games that are on offer, differentiating by game types or by the developer. There are sections where you can also see the newest games added to the site, as well as the games that are the most popular with players on the site.
The speed of the site is pretty good, with the gameplay itself for the games going to be better if you are using an up to date web browser. The navigation system is very easy to figure out and the same goes for the mobile offering.
For the live dealer casino, you can quickly see the different lobbies you can enter.
The streams are of an HD quality and have a lot of cool customization features that you can play around with. This is a very immersive experience that allows you to feel like you are there in the flesh playing your favorite casino games.
You can choose from a number of different languages aside from English. Do note that there are certain countries that are restricted from using the mBit Casino platform.
There are many different aspects to the mBit Casino. The selection of games is staggering, with more than 2,600 different slots titles from some of the best developers in the space being on offer.
There is also a great choice of other casino games, as well as a top-quality live dealer offering that will tick all of the boxes in that regard. There is a decent welcome offer, as well as strong promotions of existing players.
You have all of the major cryptocurrencies as options when adding or removing funds from your mBit Casino account. As it is a crypto casino, you can be sure that your data is kept safe because you can play almost anonymously.
One of the few downsides is that the usability of the desktop site can be a bit clunky and there are no dedicated apps for mobile players. However, the customer support team is always available to help you if an issue arises and you can quickly navigate around the site as needed.
Overall, the mBit Casino is a good choice for crypto casino players due to the vast choice of quality games that are on offer.
Congress Fears US Is Losing Battle to Malware and Darkweb Cyberweapons
In a May 28 virtual roundtable before the congressional Subcommittee on National Security, International Development and Monetary Policy, witnesses and congresspeople alike feared that they are not keeping up with criminals hacking the financial system.
Criminals have better resumes than government agents
One witness, Guillermo Christensen, a partner at law firm Ice Miller, admired the cyber talent operating illegally:
“We are always playing catch up with the criminals. […] It’s very hard to find people who are as qualified as some of these criminal hackers, frankly, to take apart their schemes and trace them.”
Another issue is the overclassification of government information, presenting a barrier to private-sector security efforts. “The information sharing between the private sector and the public sector is very valuable but it could be better,” saft Naftali Harris, co-founder and CEO of SentiLink, an anti-fraud software company.
Fintech’s vulnerability during the pandemic
In response to a question from subcommittee chairman Emanuel Cleaver (D-MO) as to the vulnerability of fintech to hacking, cybersecurity strategist Tom Kellermann warned that the current system is vulnerable to new developments and increasingly remote workflows:
“Financial institutions have the best security in the world, but because of telework and because of the customized malware or weaponry that are being developed in the darkweb, primarily the Russian-speaking darkweb. […] They’ve learned ways around the perimeter defense of the network security espoused by the standards of regulators around the world.”
Kellerman continued to explain that telework allows hackers easy access to well-defended financial networks via the worse-defended home systems of executives. He further called out APIs as adding another element of risk:
“The greatest vulnerability of fintech is they build out these APIs that allow them to connect to other financial institutions as well as other fintech vendors. Those APIs themselves are being exploited left and right.”
During the hearing, Chairman Cleaver commented that “It seems that we are losing this battle.” His closing remarks were no more optimistic. “Your comments were very informative but also very scary,” the chairman said.
JPMorgan Chase Settles Crypto Credit Card Lawsuit for $2.5M
Banking giant JPMorgan Chase settled a 2018 lawsuit recently, with a $2.5 total payout — the result of unclear fees charged when using credit cards for crypto purchases.
A May 26 court document detailed:
“The Court notes that Defendant JPMorgan Chase Bank, N.A., f/k/a Chase Bank USA, N.A. (“Chase” or “Defendant”) has agreed to provide a Cash Settlement Amount of an aggregate of $2,500,000 in cash.”
The lawsuit stemmed from lack of clarity
The legal action took flight later in 2018, seeing Brady Tucker, Ryan Hilton, and Stanton Smith press charges against the banking entity.
Reuters said in a May 27, 2020 brief:
“In a motion filed Tuesday in Manhattan federal court, plaintiffs said the settlement would result in class members getting about 95% of the fees they said they were unlawfully charged.”
March news settled in May
The plaintiffs’ legal action requested compensation for the deceptively-charged fees, as well as $1 million for damages, with a 75-day window for settlement detail submission, as of Cointelegraph’s March 2020 article.
The movement was unopposed, according the May 26 court document.
“JPMorgan is not admitting wrongdoing as part of the deal, according to the motion,” Reuters noted in the brief.
Emin Gün Sirer’s AVA Labs to Distribute 2M Tokens Ahead of Full Launch
AVA Labs, a blockchain protocol founded by Cornell’s Emin Gün Sirer, is planning to distribute 2 million tokens in its final testnet before the project’s full launch in summer.
The so-called “Denali Testnet” will serve as the final stage of the AVA network testing before AVA’s mainnet launch. The new testnet will allow each validator to earn up to 2,000 AVA network’s native tokens, AVA Labs announced on May 29.
AVA Labs tokens are not yet listed on any cryptocurrency exchange and are not available for public purchase, a spokesperson at AVA Labs told Cointelegraph.
The testnet to run from June 1 to June 15
While testnet registration starts immediately on May 29, the first phase of the testnet launch will start on June 1. At that time, participants are expected to set up live nodes, an AVA Labs representative explained. The Denali testnet consists of three core challenges, which run until June 15. While AVA Labs expects to move to its mainnet in summer 2020, there is no specific date for the full launch of the project, an AVA Labs’ spokesperson said.
The Denali testnet follows AVA’s first successful testnet known as “Cascade.” Launched in mid-April 2020, AVA’s Cascade testnet amassed 300 developers setting up and running validator nodes.
AVA network is purportedly going to be the “Internet of blockchains” once launched
Initiated by Sirer in 2019, AVA Labs is an open-source platform and a layer 1 protocol for launching decentralized finance, or DeFi, applications and enterprise blockchain solutions. The platform is designed to unify DeFi applications and blockchain deployments in one scalable and interoperable ecosystem. According to AVA co-founder, Kevin Sekniqi, the best way to describe the new protocol is the “Internet of blockchains.”
In late April 2020, AVA Labs’ Sirer said that as much as 95% of all existing cryptocurrencies do not represent any tech advancement and should be regarded as nothing but scams.
AVA network’s token is not to be confused with Travala.com’s proprietary token, AVA. Backed by the world’s largest cryptocurrency exchange, Binance, Travala.com is a blockchain-based travel booking platform that features payments and loyalty rewards in its native crypto, AVA token.
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