BetFury’s BFG Token – All You Need to Know

We have perhaps talked a bit too much about BetFury Bitcoin casino. That is so because it is continuously rising in our rankings. BTCGOSU patrons seem to love this platform, and at the time of writing, it holds the number two spot on our site. However, we would not be surprised to see it rise to number one soon. Thus, we have decided to provide dedicated guides regarding every aspect of this super-hot crypto gambling site. We already looked at BetFury staking, so what follows below is an in-depth look at this online casino’s native token – BFG.

What is BFG?

As touched upon above, the BetFury Token, is in a sense, this site’s native currency. It is based on the TRC-20 smart contract. Meaning it functions on the TRON blockchain and is fully compatible with ERC-20. Its purpose is to help maintain a healthy gaming environment and provide profit-sharing opportunities at BetFury casino.

For the uninformed, at its inception, BetFury was originally a TRON casino. It shifted to Bitcoin as its principal currency when it launched the second version of its platform. When that happened, all BetFury data got recalculated from TRX to BTC. That included all tokens mined before this update, which got saved as BFG (TRX), a type of sub-token.

You see, at the start of version 2.0, the site introduced two categories of sub-tokens, BFG-BTC and BFG-TRX. Bets made with Bitcoin resulted in BFG-BTC sub-tokens, and wagers made with altcoins produced BFG-TRX tokens. However, that is a thing of the past. Recently, these two sub-tokens got merged, and only one type exists now – the BFG token. We had trouble pinpointing when precisely this event occurred. Though, we believe that it happened sometime around late March or early April.

There is a limited supply of BFG tokens. The cap is five billion. The way these tokens get distributed are as follows:

  • Mining 51%
  • Developers – 20%
  • Marketing – 10%
  • Referrals – 5%
  • Reserve – 5%
  • Bonuses + Airdrops – 5%
  • Strategic Partnerships – 4%

BFG Mining, Staking, & Auctions

Going by the breakdown above, players can mine a little more than two and a half billion tokens. They can do so by playing games. Bets placed on in-house provably fair products produce BFG at a rate of 0.00007 BTC/1 BFG. On slots, this rate is 0.000023 BTC/1 BFG. For every 100,000,000 tokens mined, there is an increase of 0.000001 BTC on in-house games and 0.0000005 BTC on reel-spinners. Some players believe that you can gather BFG faster if you stick to slots.

You can also play games using BFG, but only on in-house titles. These are Dice, Plinko, Crash, Keno, Limbo, Circle, Hi-Lo, Stairs, and Coin Flip. Allegedly, two more such products are coming soon to the site. The affordable bet minimum is 0.00000001 BFG, and the maximum wager depends on the game in question. If you make a losing bet, the BFG wagered gets burned. Also, when you select BFG as a betting option, mining automatically gets disabled. You cannot wager with BFG and mine for tokens at the same time.

We have a dedicated article on BetFury staking, so if you are interested in that aspect of the platform, we suggest that you check that page out. We will only mention here that staking is a way to earn passive income on this platform. You get rewards from a dividends pool for holding tokens in your casino account. Every day, the platform releases 3% of its total profits to get shared among users who hold BFG. The rewards from this pool correspond to the number of tokens kept in user’s accounts. So, the more you have in your account, the higher your profits are.

BetFury casino has a mechanism of token burning called Auctions. In essence, this is a game where users make bids in tokens to snag a reward from the Auction pool. Every such Auction begins with a ten-minute countdown. When the clock falls under the five-minute mark, a new higher bid will reset it back to five minutes. The Auction ends when the clock runs out of time. 50% of the prize pool goes to the winner, 15% goes to the runner-up, and the third-place bidder receives 5%. Those that earn spots from fourth to tenth-place in this standing share 20% of the Auction pool. 10% of it gets reserved for the next round. All tokens that get used for bidding in Auctions get burnt.

The BFG token gets increasingly more valuable due to the site’s dividend system and growing demand for this asset. The BetFury staff claims that their representatives are currently negotiating with many premium crypto exchanges about the possibility of them listing this token on their platforms.

To support a healthy economy and grow its ecosystem, BetFury crypto casino conducts monthly token burnings, which increase BFG’s value. All players can see a history of past burnings by visiting the BetFury about page, accessible via a link in the site’s footer.

Go to BetFury nowGo to BetFury now

The post BetFury’s BFG Token – All You Need to Know appeared first on BTCGOSU.