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Introduction
In times when crypto is taking over the world, new coins arrive left and right; still, those that were created a few years back continue to be popular, like FUN Token. This is a coin that was launched with the purpose to serve the online gambling world; it is a huge hit among players and operators alike. Since anyone can use it, it has been added to the top of the list of accepted payment methods across many online casinos, giving users the chance to make seamless deposits and withdrawals. If it is a crypto that interests you, stay with us to learn more about it. What is FUN Token and why choose to use it as your payment solution across online casinos?
About FUN Token
Created by two online gambling experts behind the company FunFair Technologies, FUN Token is a native coin powered by blockchain technology, designed to cater to the online gambling industry. It is a fair and decentralized cryptocurrency, but above all, a fun one to use, designed by gamers for gamers, suited for all online casino players, regardless of their country of residence.
The private, innovative company behind it is headquartered in Singapore, with offices in London and Dublin. It is led by Jeremy Longley and Oliver Hopton, who, in collaboration with the entrepreneur Jez San OBE, the investor of the project, launched the coin wanting it to serve the online gambling environment. FunFair Technologies was established in 2017, and the same year, the native token was launched.
The creators of the coin created the token on Ethereum’s blockchain, eliminating any possible vulnerabilities, and leveraging its secure network that avoids the use of traditional servers. Therefore, FUN Token functions on smart contracts, just like Ethereum, allowing the receiver and the sender to get a smooth transfer of coins with no interruptions or problems whatsoever, as there is no third-party involvement.
The company had the power and resources to run the code, but also to launch a casino on its own, offering only proprietary games, designed by its own developing team. FunFair Casino was launched in 2018, a year later, making deals with many leading platforms. It is a casino frequented by hundreds of players, who all enjoy playing using the coin.
On that note, the one batch of coins, around 11 billion of them, which went live on 22nd June 2017, is the only one that will ever exist. No new coins can be mined or created like with other cryptos, but that batch will be the only one circulating on the blockchain. The coin’s value fluctuates, however, just like with other digital currencies, so when purchasing your coins, make sure you keep track of the value to purchase it when most convenient.
Now that you have the basic info on the coin and its history, it is time to learn how to get started with it and use it across the finest online casinos, or FunFair Casino, for that matter. We’ll take you through the procedure next.
Getting Started with It
Considering no new coins can be created or mined, you must be wondering how you could get a hold of the existing coins on the blockchain. Well, as a matter of fact, it would be pretty easy. The existing coins can be purchased on authorized crypto exchanges, like Binance, MEXCGlobal, HitBTC, UNISWAP, or on FunFair’s platform.
Before you purchase some, of course, you’d need to create a crypto wallet, where you’ll keep your coins. FunFair Technologies, naturally, has launched its own wallet you could go with, xFUN Wallet, but you can also use other well-established like Trezor, Ledger NanoS, or MyEtherWallet. Create an account with any of them, and then head over to FunFair's platform or one of the mentioned exchanges to complete the purchase.
If you’ve ever purchased crypto, you’ll know what to do. You’d need to link a payment method to your exchange account and purchase the number of coins you wish using fiat currency, or by swapping other cryptos for it. You should know here that any transactions you make with it will be publicly available and trackable on CoinMarketCap and Etherscan, offering better transparency regarding how the coins are circulating. Don’t worry, though, as your name won’t ever be disclosed or published; only the transaction will be tracked. If you’re uncertain about how everything will go, make sure you read all the info available on the crypto’s official website.
Now that you have all the important info on how to get some coins, you should learn how to use them across online casinos. We’ll go through the procedure step-by-step next.
How to Deposit at Online Casinos with FUN Token?
We explained to you that although this is a native coin of FunFair Technologies, the company that launched its own casino brand you could join to use the solution, FunFair Casino, there are also so many other sites you could join if interested in using it. Keep in mind that, compared to Bitcoin, which was launched over a decade ago, FUN Token is a fairly new crypto, so you won’t find it across thousands of sites; yet, there’s a decent number of casinos that offer it. Make sure you find the most suitable one for you to join, and create your account with it.
To make a deposit with FUN Token, you’d need to follow this procedure:
- Go to your online casino’s Payments/Deposits/Banking page.
- Locate FUN Token’s logo and click or tap on it.
- The casino’s crypto wallet address will appear; copy it.
- In the pop-up, log into your crypto wallet using your credentials.
- Specify how much you’d like to deposit and paste the casino’s wallet address here.
- Confirm your request and the coins will reach your balance in an instant.
We must mention here that, just like the case is with other cryptocurrencies, transactions with FUN Token are irreversible; they run on the blockchain, on a peer-to-peer principle, anonymously, so no one can actually cancel or retrieve the coins that were sent. So, before you continue to step 6 and confirm your request, ensure that all the data you’ve entered is completely correct.
How to Withdraw Winnings with It?
Naturally, since you have a crypto wallet account when using this solution, you can make withdrawals with it, as the operator will have a return address to send your winnings to. The withdrawal process is quite the same, only this time, you'd need to copy your wallet address and enter it in step 5 in the designated field. Plus, you need to specify how much you wish to cash out.
The best part is, after the casino approves your withdrawal, the coins will arrive in your account in real time; since they are held in escrow by the blockchain, withdrawals with FUN Token are faster than with any other digital currency. Thanks to the fact it was designed with the online casino player in mind, this crypto offers some of the fastest withdrawals; the creators behind it made sure no online casino player ever has to wait for hours or days to get their winnings on their account.
Fees and Limits
A lot of you may have read about or used Ethereum by now, so you probably know how it functions. If not, you should know that Ethereum charges gas fees; by default, since FUN Token runs on Ethereum’s blockchain, it charges these fees, too. This is a fee that is dubbed as the fuel that makes the token circulate. Don’t worry, though, as the fee is only a tiny fragment of the amount that’s transferred, so you’ll barely notice it.
Keep in mind that, based on the current market value and the speed of the exchange, other fees may apply. Upon purchase at the exchange platform you chose, the fee would be calculated on the spot; so, before you confirm the transaction, you can see it explicitly displayed, so that you know how much extra you’ll be paying to get to your coins.
Allowed Countries
No country restrictions exist really, when it comes to using cryptocurrency, and by default when using FUN Token. You could see clearly on its website that the coin is not restricted; anyone with access to the internet can get a hold of some coins.
Theoretically, therefore, regardless of your country of residence, you could use it. But, bear in mind any possible bans or restrictions on crypto that may apply in your country. If faced with one, like Russian players, for instance, you should know that you won’t be able to use it. So, you’d need to look for an alternative when choosing a payment method to use across online casinos.
Available Currencies
We mentioned previously that you can purchase your coins by swapping them with any other crypto you may hold, or by using any fiat currency, your native currency even, if available on the exchange platform you’ve joined.
Therefore, you could use Bitcoin, Tether, Bitcoin Cash, Cardano or Litecoin, for instance, or fiat currencies like euros, US dollars, Swiss franc, Canadian dollars or UK pounds. You have plenty of options to choose from and use, as offered on your exchange platform. The purchase will be, as mentioned, subject to a fee based on the coin’s current market value.
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FAQs
Which other wallets can I use to get started with the solution?
The company behind it, of course, recommends xFun Wallet as the best for storing your coins, but also suggests Binance and Metamask, so you could consider using them, too. Plenty of other options are available; previously, we’ve mentioned the top ones.
Does the solution offer Customer Support?
On the official website, launched by FunFair Technologies, you will be able to get in touch with its Customer Support team. There’s a Contact page you could visit, where you’ll be able to get assistance from its team via the on-site contact form or the email address admin@funtoken.io.
Is FUN Token’s official website available in different languages?
No, not really, no. The official website is available only in English, considering technical language is used and some terms are difficult to properly translate; plus, the solution is available to global users, and English is the universal language, so you should have no issues exploring the website in English.
When it comes to its value, does it have some major falls and peaks?
Just like with other cryptos, anything could happen at any moment with its value. For example, the year it went live, its value was only $0.034. However, the next year, its value reached its peak and went up to $0.186. If you want to keep track of it, check it on CoinMarketCap, EtherScan, or its official website.
Is FUN Token available on social media?
Designed by gamers for gamers, the solution is, of course, available on Discord, but you will find it on mainstream social media platforms, too, including Telegram, LinkedIn, Facebook, and Twitter.