Rollbit Coin (RLB): Earn Rewards With Rollbit’s Utility Token

By Bitcoin Chaser
Published Aug 23, 2022 and updated Aug 24th, 2022
Rollbit Coin (RLB): Earn Rewards With Rollbit’s Utility Token

Crypto casinos accept a variety of cryptocurrencies but very few actually offer their own blockchain-based tokens. With the Rollbit Coin (RLB), Rollbit is one of the few casinos stepping up and finding new methods of cryptocurrency adoption, offering players unique ways to earn and use the platform’s native token. 

What Is RLB?

Rollbit is a cryptocurrency casino gaining popularity in the world of online gambling. It boasts a variety of innovative features making it unique, from enticing incredible incentives to over 2000 games. 

Rollbit coin (RLB), as described in the Rollbit whitepaper, is the official utility token of Rollbit casino and was launched alongside the Rollbit lottery. The RLB token runs on the Solana blockchain with an initial supply of 5 billion tokens. 

Unlike the usual token launch, there was no ICO for RLB. Instead, Rollbit airdropped RLB to users of its trading and gaming platform at the time. Rollbit Coin functions as admission tickets to the Rollbit lottery, allowing holders a chance to earn a portion of the casino’s profits. But there is more to RLB than meets the eye.

What Can You Do With Rollbit Coin?

RLB Lottery

The Rollbit Lottery is a necessary component for accumulating RLB to burn. It attracts Rollbit users to buy and stake RLB due to the huge Jackpot and guaranteed reward pools for each round.

In order to enter the Rollbit Lottery, a minimum of 10 RLB must be staked. The more RLB staked, the greater chance you stand to win. 

When placing a wager with RLB in the Rollbit Lottery, there is a 0.2% fee. The staked Rollbot holders receive 0.1% of the fee back, while the remaining 0.1% is burned. This creates a healthy deflationary asset and traps value in the token market. 

HODL

Rollbit openly states that they anticipate a considerable value increase over the next few years due to Rollbit Coin’s deflationary nature. According to their projections, 50% of the RLB supply will be burned this year alone.

In addition to RLB’s deflationary characteristics, as Rollbit expands and broadens its user base, more people will be exposed to RLB in turn raising the demand. So holding onto your Rollbit Coin long-term might not be a bad idea.

Trade

If you would prefer not to keep your Rollbit Coin, you can always sell or exchange them.

Rollbit is working hard to get the RLB tokens listed on well-known centralized exchanges and decentralized exchanges, users can trade RLB via the Rollbit casino custom market on Dexlab or they can swap RLB using Raydium in the interim.

How to Buy Rollbit Coin

How Do You Buy Rollbit Tokens?

Rollbit Intends to have RLB listed on popular centralized and decentralized exchanges. Currently, it is possible to buy and sell RLB via Rollbits custom market on DexLab or to swap RLB via Raydium.

Steps To Buy

  1. Download the Phantom Wallet
  2. Set up your Phantom Account
  3. Deposit SOL and USDC as your base currencies with your Phantom Wallet from a CEX like Binance 
  4. Choose a decentralized exchange, we recommend Dexlab or Raydium
  5. Connect your wallet to the DEX

When placing an order on Dexlab to purchase RLB, you will need some USDC or SOL in your wallet. You will need to match the best offer, which is the sell order in the order book with the lowest price. Once you have verified the transaction in your Phantom wallet and the trade has been completed, you will need to navigate to the ‘settle’ section and settle the RLB balance in order for the RLB to reflect.

Depositing RLB on Rollbit Casino

  1. Copy the deposit address from Rollbit casino 
  2. Paste the deposit address into the “Recipient’s RLB Address” field in the Phantom wallet 
  3. Choose RLB
  4. Verify how many tokens to transfer 
  5. Click “Send”. 
  6. The RLB will be credited to your account shortly after the deposit is validated
How Can I Earn RLB?
Rollbit.com: Where crypto gambling, NFTs and trading meet

How to Earn Rollbit Coin

Rewards From Rollbit

You can earn generous benefits like rakeback, cashback, rank-up bonuses, and rollback. If you have a Rollbot NFT attached to your profile, you will receive double the RLB prizes for completing the tasks when you bet on casino games or trade cryptocurrencies.

You will get 1 RLB for every $1 claimed in rakeback. You will receive 2 RLB for every $1 claimed through cashback and you will receive 3 RLB for every $1 claimed through rollback. Finally, you receive 5 RLB for every $1 in Level Up incentives that you claim.

Deposit NFTs

For NFT collections that are supported by Rollbit, RLB is available to be claimed for each NFT deposit. By depositing well-known NFTs from ventures like CryptoPunks and Bored Ape Yacht Club, you can earn up to 100,000 RLB.

Staking Rollbots

You can passively earn Rollbit Coins from the RLB Lottery by staking Rollbot NFTs. The Rollbots staked in the NFT Marketplace receive 0.1% of the RLB taken as fees following each RLB Lottery round. This is on top of the 50% profit sharing holders receive, which is funded by the NFT Marketplace sales.

RLB Cryptocurrency Price

Due to the nature of cryptocurrencies, the Rollbit Coin price fluctuates making it difficult to give an exact price. If you are looking for the live coin price there are a few places you can visit. It is recommended to view the current value on price indexes such as Coinmarketcap, Solanacompass, Coinbase, and Coingecko.

Reap Rewards With RLB And Rollbit

Their token offers a wide range of utility for users to take advantage of, through playing and earning. There are other crypto casinos with their own gambling tokens, but Rollbit has proven to be a top contender in the field. If you are still curious to find out more about Rollbit and the RLB token, be sure to check out our comprehensive Rollbit review

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