BetFury is one of the most popular cryptocurrency gambling decentralized applications (dApps) that has been attracting thousands of users from all over the world. We are already aware of their services and solutions, but they have also launched a new token called BFG that runs on top of the Binance Smart Chain (BSC) blockchain network.
BFG token is certified by CertiK – the leading blockchain security company. Having great trust from users, BetFury received the official confirmation of reliability and security.
But what is BetFury’s Utility Token all about? In the next few sections, we share with you all the details about BetFury’s token running on the Binance Smart Chain and how users and players can enjoy a wide range of benefits with it.
What is BetFury?
Before we get into the details of what BFG is and how it works, let’s talk about BetFury. BetFury is one of the most popular cryptocurrency casinos in the industry with top slot machines and some of the best dice and table games in the market.
Users are able to enjoy over 5,000 different games and use their favorite cryptocurrencies to play. Players will find a very easy-to-use platform (user-friendly) with a page that is very easy to navigate.
Users can get cashback up to 25% and they can also get rakeback depending on the games they play. Furthermore, there are some games that are free to play and that would let users win real crypto.
Thanks to its promotions, bonuses and games from some of the most recognized software developers, BetFury became one of the best casinos in the crypto industry.
What is BetFury’s BFG Utility Token?
But let’s not talk about BetFury’s BFG Utility Token. The company decided to make the whole experience even better and launch its own token called BFG. The token was released on top of the Binance Smart Chain (BSC) blockchain network under the BEP20 token standard.
The total emission is 5 billion BFG with currently in circulation close to 2.5 billion. Users can stake and unstake tokens according to their needs and preferences. At the moment, 2.3 billion have been staked while close to 140k are unstaked.
Additionally, BetFury decided to burn 1.5 billion tokens (close to 38% of the total supply of this virtual currency). The token would be offering a unique staking solution to investors. Moreover, there is also a possibility for users to receive a part of the platform’s profit from the staking pool.
Users can earn BFG tokens by playing different games at BetFury. This is a unique way of mining the token. The more you play, the more you earn over time. If you like to play online casino games, this is also a great opportunity for you to earn rewards in BFG tokens.
At the same time, users that prefer to gain exposure to this virtual currency can do so by purchasing it using different exchanges. Biswap, Coinsbit, BabySwap, CoinTiger, Hotbit, ApeSwap are just some of the platforms available that support BetFury’s new BFG token.
Of the total 5 billion supply, 51% has been allocated to mining, 20% to developers, 10% for marketing campaigns, 5% for referral opportunities, 5% for a reserve, 5% for bonuses and 4% for partnerships that would help the casino reach a larger number of users over time.
The BFG mining process is quite simple and easy to understand. Users would be able to obtain BFG tokens when they play different games. The mining price of each currency depends on the Bitcoin exchange rate on the Binance platform. Every 50 million BFG tokens mined, there will be an increase in the difficulty of BFG mining. Therefore, the sooner you start mining the token, the more coins you get.
BetFury is also rewarding users that decide to stake coins. That means that every 24 hours, the staking pool releases 3% of the total profits of the platform in each currency. Then, this amount is shared among all users who hold BFG tokens.
Staking rewards are distributed according to the stake of the investor. The larger your stake, the larger the rewards that you receive. Hence, the BFG staking mechanism is a way to incentivize holding the coin rather than selling it to the market.
Therefore, users can use BFG in different games, stake it, get BFG cashback, trade BFG on different trading and swapping platforms, and many other things.