How to Buy InsanityBets ($IBET) – Easy Guide
InsanityBets ($IBET) is a decentralized CasinoFi cryptocurrency platform. It is one of the first CasinoFi platforms where users can become the house. $IBET token holders receive a chunk of the trading fees through staking pools and get early access to casino games and rewards.
Our how to buy InsanityBets guide shows investors how to purchase the $IBET token through the ongoing presale. We will also discuss the $IBET tokenomics, use cases, and key takeaways.
What is InsanityBets?
InsanityBets ($IBET) is an innovative crypto casino platform. It is the pinnacle of decentralized gambling, where every bet is an investment.
As of 2022, the online gambling market size is USDT 63.50 billion. This number is expected to grow at a CAGR (Compound Annual Growth Rate) of 11.7% until 2030. With InsanityBets’ innovation and utility, it aims to capture a chunk of this market size.
This new cryptocurrency is the first-ever CasinoFi platform where users can become the house. All one has to do is make a deposit on the platform via USDT, BTC, ETH, or other crypto tokens. These coins are used to mint $ILP – a pioneering mechanism on InsanityBets. $ILP tokens will be used as the house fund for wins and losses on the gaming platform. Thus, $ILP holders will receive 90% of wins and losses from player’s bets.
$IBET, the native cryptocurrency, is also one of the best utility tokens to watch in 2024. Token holders can receive 85% of all trading fees by staking and burning $IBET. Staked token holders are rewarded with 35% of all trading fees – offered through a staking pool.
One of the best deflationary cryptos, $IBET also implements a burning mechanism. Token burners will receive 50% of all trading fees from a burning pool. On this decentralized gaming casino, all the games will be provably fair, offered using Chainlink VRF RNG.
InsanityBets uses an algorithm that provides fairness and randomness within games. The InsanityBets platform will offer games such as Plinko, Rock Paper Scissors, Coin Flip, Blast Off, and slot machines. This casino also caters to developers, as they can plug and play their own creations using CasinoFi smart contracts. Multi and side bets will be introduced within the InsanityBets gaming ecosystem.
Staking and VIP Rewards
Through the $IBET token, investors can earn various rewards and discounts on the InsanityBets casino platform. While we have discussed the staking pool rewards, InsanityBets also offers other benefits through its VIP tier.
On InsanityBets, customers are required to pay a winnings, withdrawal, and $ILP deposit fee of 1%. Depending on the number of tokens you have staked on InsanityBets, you can receive the following trading discounts and benefits:
- VIP Tier One (Fish) – Minimum one million tokens staked. If you have unlocked this tier, your $ILP deposit and withdrawal fee reduces to 0.5%. The winning fee is also reduced to 0.9%.
- VIP Tier Two (Dolphin) – Minimum five million tokens staked. The Dolphin VIP members only pay a 0.35% $ILP deposit and withdrawal fee and a 0.8% winnings fee. You also get early access to casino games.
- VIP Tier Three (Shark) – Minimum 7.5 million tokens staked. You pay just a 0.25% $ILP deposit and winnings fee, and a 0.7% winnings fee. You also get third-priority access to PVP games.
- VIP Tier Four (Whale) – 10 million tokens staked. The members of this tier witness their $ILP deposit and withdrawal fee reduce to just 0.2%, while the winnings fee reduces to 0.6%. You get second priority access to PVP games.
- VIP Tier Five (Humpback) – Minimum 20 million tokens staked. This is the highest tier on InsanityBets. You pay an $ILP deposit and withdrawal fee of 0.1%. The winnings fee reduces by half to 0.5%. Furthermore, you get first-priority access to PVP games.
Tokenomics
$IBET has a total supply of 5 billion tokens. 50% of the supply (2.5 billion tokens) is currently being distributed through the InsanityBets presale. At the time of writing, $IBET is priced at only $0.0015 per token during the second presale stage. This could be a potential entry opportunity for long-term investors since another 5% of the supply will be reserved for future exchange listings.
To maintain the ecosystem, another 30% of the token supply is distributed to the development team. In the future, $IBET will also be given to token holders through an airdrop campaign. Another 5% of the supply is set aside for the airdrop event. The remaining 10% of the supply will be offered through Escrow staking rewards. This is an innovative staking derivative that rewarded to staked token holders.
Your staked holdings will automatically be staked again to generate compounded returns. These tokens can be vested over a 9-month period. Thus investors can earn further passive income with the $IBET token.
For these reasons, InsanityBets has the potential to become one of the best cryptocurrency tokens in the long term. To learn more about this cryptocurrency, read the InsanityBets whitepaper.
Roadmap
Our how to buy InsanityBets guide will now focus on the key future developments of this platform. InsanityBets has laid out its current and future plans through six roadmap phases:
- Phase One – The first phase focused on the platform’s launch on Twitter and Telegram. In this phase, InsanityBets also launched the website and presale dashboard and hired a marketing agency.
- Phase Two – The second phase kicked off with the $IBET presale launch. InsanityBets also focused on developing the $ILP and $IBET contracts.
- Phase Three – By phase three, InsanityBets will begin developing the first five casino games. The Profit/Loss on the games and total bets placed will start being updated on the dashboard. InsanityBets will also set up an affiliate program.
- Phase Four – To advance gameplay, InsanityBets will implement Telegram betting bots, and focus on API development for the developer economy. InsanityBets plans to conduct surprise announcements and add new features by this phase.
- Phase Five – InsanityBets will launch new $ILP collateral mechanisms and continue with new game launches. The cryptocurrency will also focus on cross-platform integration.
- Phase Six – The final phase will focus on global expansion and scalability. In the long term, InsanityBets wants to implement a sustainable business model.
3 Reasons to Buy InsanityBets – Key Takeaways
Now that we know more about the $IBET token and InsanityBets’ different ecosystems let’s discuss three key reasons to invest in this cryptocurrency:
Generate High Yields
$IBET offers token holders huge yields on the InsanityBets ecosystem. As mentioned above, token stakers can generate annual yields through staking pools.
One of the best staking coins, $IBET also provides huge discounts on trading fees, early access to casino games, and priority access to PVP games. Thus, casino gamers can earn rewards across provably fair games and keep generating passive income in the ecosystem.
Deflationary Tokenomics
InsanityBets implements a deflationary mechanism through which the $IBET supply will reduce in the long-term. On this platform, token holders can opt to burn their $IBET holdings. By reducing the market supply, deflationary tokens increase scarcity.
With a reduced number of circulating tokens, there is an opportunity for the price to increase as the demand grows. Thus, deflationary tokens like $IBET could be potential long-term investments. Furthermore, InsanityBets promotes token burning by offering a chunk of the trading fees generated to token burners. This ensures that the token supply will keep reducing in the years to come.
Available at an Early Stage
Many cryptos have offered soaring returns from their original price. While there is no guarantee of securing a return on investment, interested investors may prefer purchasing coins at early levels.
$IBET is priced at just $0.0015 during its second round. In the future, the token will be listed on multiple crypto exchanges. The increase in trading volumes can attract more buyers, and potentially push the price upwards.
How to Buy InsanityBets ($IBET) Tokens: A Step-by-Step Guide
Now, let’s take a look at how to buy InsanityBets ($IBET) through the ongoing presale:
Step 1: Set up a Cryptocurrency Wallet
To access the $IBET presale, you first need to set up a compatible cryptocurrency wallet, such as MetaMask or Trust Wallet. You can download the web extension when using a desktop/laptop device. Alternatively, you can download the wallet app using iOS and Android.
Step 2: Fund Your Wallet
Ensure that your cryptocurrency wallet is funded with crypto tokens, which you will swap for $IBET tokens. You can make the purchase using USDT, USDC, BTC, ETH, ADA, and many more cryptos.
If you do not hold any of these tokens, purchase them from a suitable cryptocurrency exchange. Transfer the tokens to your cryptocurrency wallet.
Step 3: Visit the InsanityBets Website
Head over to the InsanityBets website. At the top of the page, select the ‘Buy Now’ option. You will be redirected to a new page, where you can create a new buy order. Click ‘Buy’ to continue. Select the crypto with which you want to make a purchase. Enter the number of $IBET tokens you want to receive.
Notably, you must buy at least $50 worth of $IBET through the presale. If you scroll below to the ‘Summary’ section, you will see how many $IBET tokens you receive depending on the order amount.
For instance, $50 will get you 33333.33 tokens during the second stage of the presale. Accept the terms and conditions, and click on ‘Buy.’
Step 4: Connect the Wallet and Confirm the Transaction
Once you select ‘Buy,’ InsanityBets redirects you to a new page. At the top right corner, there is a QR code. Open your crypto wallet app and scan the QR code to connect your wallet to the website.
Now, you can confirm the transaction from your wallet. Alternatively, InsanityBets has provided a wallet address (0xF4E67DDcD64239AF48d5701064409A7eBc064736). You can directly add this address to your cryptocurrency wallet and confirm the transaction.
Conclusion
InsanityBets is a decentralized cryptocurrency casino, providing provably fair games to customers. With $IBET, the native token, investors can earn huge staking and burning yields, early access to crypto games, and discounts on their trading fees.
Our how to buy InsanityBets guide has shown readers how to purchase the native token through the ongoing presale. Currently, tokens can be purchased for just $0.0015 through the second presale round.
References
- Online Gambling Market Size (Grand View Research)
- Provably Fair definition and meaning (SoftGamings)
- Understanding Deflationary Tokens and Their Benefits (Antier)
FAQs
What is InsanityBets?
InsanityBets is a new CasinoFi crypto platform. It lets users become the house and control 90% of all wins and losses. Users can play provably fair games, stake and burn $IBET, and earn huge yields on this ecosystem.
What staking rewards can you earn with InsanityBets?
InsanityBets rewards token stakers with 35% of all the trading fees generated on the casino. This is offered through a staking pool. Furthermore, you can earn trading fee discounts and early access to casino games, depending on how many tokens you have staked on InsanityBets.
About the Author
Michael Graw 
Eric Huffman 
Alan Draper