Gambling in crypto casinos keeps changing every day. Many developers are coming up with cryptocurrencies aimed at solving various real-life problems. One of the latest entrants is Filecoin (FIL crypto), adopted by some of the best Filecoin Casinos like BC.Game. We decipher all things Filecoin below.
Filecoin (FIL) is a decentralized storage network developed by Juan Benet and his Protocol Labs team in 2014. To store files on the Filecoin network, users must create storage contracts with miners responsible for maintaining and verifying files on the network. As an incentive, miners earn Filecoins for each successful storage and retrieval service offered.
The Filecoin network is built on the decentralized InterPlanetary File System (IPFS) protocol. It allows organizations and individuals to rent unused storage space using unique cryptographic hashes instead of traditional file paths in exchange for the Filecoin cryptocurrency. Filecoin aims to bring greater diversity into the industry by storing humanity’s most important information. Through the proof-of-space-time (PoST) protocol, FIL crypto offers miners a decentralized, independent network for data storage and retrieval. Clients and miners interact with the system freely since no central authority manages it.
Filecoin secures its blockchain using the proof-of-replication (PoRep) and proof-of-space-time (PoST) consensus mechanisms. These mechanisms enable miners to demonstrate they are genuinely storing the data via a process known as ‘provable data possession’. This verification ensures data is safe on the network and can be recovered even if a miner is offline. Like most reputable cryptocurrencies, FIL enhances its network security through data encryption, public-private key cryptography, regular network auditing, and authorization via smart contracts.
While creating DApps, Web3 developers must consider the apps’ storage space. They must create the most scalable applications to beat their competitors. Filecoin currently offers one of the best scalability solutions to developers. You can build Filecoin integrations for your next DApp and expect no storage space limitations. By combining InterPlanetary File System (IPFS) and its native token (FIL), Filecoin provides a secure, swift, and scalable storage solution.
Filecoin transaction fees (gas fees) are often priced in the tiniest fraction of the FIL token, called an attoFIL. The gas fee is the engine that runs Filecoin transactions and is calculated by multiplying GasLimit (the maximum gas a user is willing to spend in a transaction) by GasFeeCap (the maximum gas unit price a user is willing to spend on a transaction on the Filecoin blockchain).
File coin gas fees = GasLimit x GasFeeCap
The exact Filecoin gas fee is determined by the demand and supply forces in the mining network. Sometimes, miners can decline transactions due to low transaction fees that don’t meet the threshold of miners on the Filecoin network.
You can convert FIL coins into internal currency within specific Filecoin Casinos. When withdrawing, the internal currency is switched to FIL coins, the standard practice in some FIL Casinos during Filecoin gambling.
You can enjoy all the games in these casinos that support FIL, just like you would with other coins. However, it’s important to note that certain games may restrict the accepted coins. In most FIL-supported casinos, you can expect a wide selection of games designed explicitly for FIL users. Select a casino that suits your preferences, deposit your FIL coins, and try your luck with the best available odds.
Some of the most popular and easy-to-play games in FIL Casinos are crypto slots. They offer players high excitement levels, which is what Filecoin Casinos offer. You can participate in specific FIL bonuses by pressing the ‘Spin’ button and hoping the odds favor you.
Most gambling sites also have crypto roulette as one of the simple but popular games. There are usually different permutations of the game in online casinos, and to win on FIL Casino roulette games, players must pick the right bracket where the ball falls.
Poker is a challenging but popular game in FIL Casinos. You must be better against competitors and understand crypto poker rules to win.
Crypto blackjack requires a moderate skill set to succeed. You must understand the rules while playing Filecoin Casino blackjack games – a higher score than the dealer without exceeding 21.
Crash is an exciting game offered by crypto casinos. Players don’t have to bet on given outcomes with crypto crash game. However, they must decide when to cash out as the multiplier grows. Failure to cash out before the crash leads to players losing the bets.
Playing dice at FIL Casinos isn’t the same as playing real-world dice. In crypto dice, players randomly pick numbers and guess whether the outcome will be lower or higher than the chosen number.
BC.Game has one of the best FIL Casino bonuses you can find online. You can earn up to 1 BTC for free by playing this crypto casino’s daily wheel spin bonus. BC.Game also supports three first-deposit bonus options varying between 80-180% depending on how you deposit. BC.Game also supports 2nd, 3rd, and 4th deposit bonuses, with unique wagering requirements discussed in our BC.Game review.
Filecoin currently ranks 27th by total market cap on CoinMarketCap as one of the largest players in the NFT market, supporting large storage and gaming needs. FIL focuses more on motivating large-scale storage, especially for private data, and employs a payment model tied to storage time and space requests.
Filecoin received a major boost in its NFT journey (in 2023) when Brave launched new features to support the development, adoption, and supporting web3 in their browser and wallet using Filecoin and the InterPlanetary File System (IPFS). The boost included accessing DApps on the Filecoin blockchain via Brave Wallet through the new features, including NFT pinning to IPFS and a Filecoin virtual machine integration.
When selecting a Filecoin coin casino, it’s crucial to consider several factors. One such aspect is the minimum and maximum deposit amounts, as these limits can vary across casinos and may differ depending on the specific cryptocurrency used.
Another important consideration is the range of crypto casino bonus offers available. It’s essential to carefully review the terms and conditions associated with each bonus, including the wagering requirements, which can vary between bonuses. Familiarize yourself with the bonus terms and conditions to identify the best bonuses that align with your preferences. Furthermore, the variety of games offered is a crucial factor to evaluate.
A broader selection of game types indicates a more comprehensive and enjoyable casino experience, allowing you to explore different games until you find one that suits your taste.
At Gamblineers, we assess casinos based on various metrics, including player engagement, minimal complaints, prompt resolution of issues, fairness and effectiveness of resolutions, regular and speedy payouts, overall quality of services, and a diverse range of games and promotions. You can read more about how we rate and rank casinos on our home page.
Utilizing an internal scoring system that encompasses these factors, we rank casinos accordingly. In this particular case, BC.Game stands out as the sole Filecoin-supporting casino and has received high rankings in our previous reviews. You can verify this by referring to some of the listings we have posted in the past.
Like other crypto casinos, Filecoin Casinos prioritize safety and security, encompassing protection against external hackers and ensuring the fairness of their games. To assess the safety of an online casino, it is advisable to read online reviews thoroughly. You can comprehensively understand the safety measures implemented by a crypto casino by gathering information from multiple reviews. This will likely be disclosed online if the casino has been involved in any scandals or issues.
Based on our assessment of BC.Game, we have determined it to be a reputable casino for several reasons. The casino holds a valid gaming license issued by Curacao, indicating its compliance with regulatory standards. On top of that, BC.Game boasts an extensive collection of in-house games that are provably fair, guaranteeing transparency and fairness. Notably, its operations are conducted on the blockchain, renowned for its robust security measures and transparency.
Like any other token, Filecoin has encountered advantages and disadvantages in its journey to adoption by crypto casinos.
Filecoin is a decentralized blockchain that allows you to store and share files by incentivizing miners via the FIL token.
Some exchanges like Coinbase allow deposits and withdrawals from the various Filecoin address types. Some, however, only support one or a few of the available address types.
Filecoin cryptocurrency was founded by a California-based entrepreneur, Juan Benet.
All bonus types are supported on FIL Casinos. You will find numerous variations of all the popular bonus types offered in major online casinos. They include deposit bonuses up to the 4th deposit and a no-deposit bonus, like the free wheel spin bonus on BC.Game.
They work just like conventional casinos. You deposit funds and place bets on the different games. The only difference is that you will deposit FIL coins instead of other crypto tokens.
Yes, it is. FIL casino gambling does not require any extra transactions compared to other casino gambling. In countries where gambling is permitted, you can be assured that you are not violating any laws by gambling with FIL.
FIL’s robust architecture ensures it is safe and secure for placing bets in crypto casinos. The network’s unique architecture protects Filecoin from vulnerable attacks or hacks. Holding FIL assets is secure, and there is no risk of losing them to hackers.
Table of contents