South Korean Giant Bithumb is Launching a Decentralized Exchange

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Bithumb, a major cryptocurrency trading platform located in South Korea, and now for its plans to operate a decentralized exchange in the upcoming months. This trailing on the news regarding Binance’s plan to launch a decentralized exchange by 2019.

Bitthumb DEX, is expected to target the global crypto marketplace and will be launched under an overseas subsidiary outside of South Korea. The DEX is currently being developed by the assistance of One Root Network (RNT), which already has experience deploying decentralized exchanges in early 2018.

The decision by BitThumb executives is a part of an ongoing strategy to compete with other leading exchanges within the global marketplace. Decentralized exchanges are receiving a lot of attention within the crypto ecosystem and will most likely continue to dominate headlines.

Binance Versus Bithumb

Both cryptocurrency exchanges generate massive profit margins from their trading fees. However, on decentralized exchanges, a third party provider cannot exist in order to collect these fees which limit the involvement of a central party with regard to processing crypto orders.

In order to incentivize developers as well as financial operations, it’s possible to code reoccurring transaction fees into Smart Contracts so each trade provides the development team of the DEX with an incentive to maintain development.

In an interview with Ran Neuner on CNBC’s Crypto Trader, Changpeng Zhao (CEO of Binance) stated that he firmly believes decentralized exchanges are the wave of the future for crypto trading.


“I believe that decentralized exchange is the future. I don’t know when that future will come yet. I think we’re at an early stage for that so I don’t know if it’s a year, two years, three years, or five years. I don’t know but we got to be ready for it,”

Bithumb DEX Could Appeal to Investors

The SEC Commissioner, Hester Peirce stated that investing in the cryptocurrency marketplace requires a specific knowledge of the market which your typical investor lacks.

Due to this complexity only a particular type of investor can pursue this opportunity. However, entrepreneurs are developing new products which investors can access cryptocurrencies indirectly through hedge funds.

Investing through a decentralized exchange is much more complex than investing through a centralized cryptocurrency exchange due to the fact that users have no service providers to rely on when potential problems emerge. However for current Bithumb users, the launch of Bithumb’s DEX will provide an opportunity for the company to improve their track record with security breaches and hacking attacks.

South Korea e-commerce marketplace Ticket Monster (TMON) revealed it had closed a $32 million funding round for its new stablecoin Terra in a press release Wednesday, August 29.

TMON, which boasts a considerable $4 billion in total sales, is seeking to create an in-house cryptocurrency to compliment its existing token, Luna, which acts as collateral on its blockchain platform.

Contributing to the round are some of the cryptocurrency industry’s best-known names, including Binance Labs, OKEx and Huobi Capital, as well as funds including Polychain Capital.

“From experience, I know that faster, more secure transactions at a fraction of today’s fees could be a game-changer for many eCommerce platforms,” Terra co-founder Daniel Shin commented, describing the token’s potential as “immense”

“We foresee [Terra] being used for all types and forms of financial products like loans and insurance.”

Stablecoins are currently gaining popularity across various sectors of the global economy. Even banks, the first of which being Lichtenstein’s Union Bank earlier this month, have opted to issue their own token, which is usually tied to a fiat currency.

The TMON move marks a further conspicuous investment for Binance meanwhile, the exchange giant’s investment arm having signaled plans to create a huge $1 billion fund in June.

Explaining the impetus behind its contribution, Binance Labs head Ella Zhang highlighted TMON’s existing partner network of companies already waiting to use the token.

“While we see many stablecoins coming out, Terra’s journey is especially meaningful as they are designing one of the few price-stable protocols with existing, working, and strong go-to-market strategy and usage,” she said.

Shin forecast beta testing of theTerra payment system to begin in Q4.

The Philippines, Thailand, and South Korea are moving towards creating the next crypto valley, after recognizing the success of Malta and Zug, Switzerland in creating crypto and blockchain friendly environments.

Most countries in Southeast Asia, including Vietnam and Thailand, have cracked down on crypto trading and blockchain-related developments over the past year. A few months ago, Thailand disclosed its intent to heavily tax both cryptocurrency investors and trading platforms.

However, possibly due to the outrage of local investors and the increasing efforts of the Philippines, South Korea, and Japan to support cryptocurrency-related businesses, Thailand have also recently vowed to create an environment with friendly regulatory frameworks geared towards crypto startups.

Philippines and South Korea are Leading the Pack

The Cagayan Economic Zone Authority (CEZA), a government-operated economic zone in the northern tip of the Philippines, has decided to issue 25 cryptocurrency exchange licenses to enable cryptocurrency startups to operate with tax exemptions and among many other benefits.

Lito Villanueva, the chairman of FintechAlliance, said in an interview with Nikkei that the country has been trying to create the next “crypto valley in Asia” through the establishment of a $100 million blockchain hub.

“With these startups come huge investments in their portfolio. Surely, each country would want to take a piece of the action. Taking blockchain and fintech players in with enabling regulations and potential investment incentives would surely make the game more exciting,” Villanueva said.

The Philippines has already established a crypto-friendly hub in an state-controlled economic zone.

Already, some of the startups in the Philippines including Coins, which closed a $10 million Series A funding round from Naspers and Quona Capital, have become the most popular platforms in the Philippines, outside of crypto and finance.

At its peak,, the Philippines arm of Coins, became a top 10 mobile applications in the Philippines market.

South Korea has also put in significant efforts to legitimize the cryptocurrency and blockchain sector by drafting the country’s first cryptocurrency and blockchain legislation. In the next 12 months, the government has also agreed to invest $4.4 billion in emerging technology companies, setting its focus on big data and the blockchain.

Uniquely, regional governments in South Korea such as Seoul, Busan, Jeju Island, and Sejong have vowed to become the blockchain capitals of Asia by welcoming cryptocurrency and blockchain companies with various benefits.

Won Hee-ryong, the governor of Jeju Island, who recently invited Roger Ver to demonstrate the use case of cryptocurrencies, said that the blockchain is a valuable opportunity for South Korea to take the lead in global internet development, an area which it has fell behind China and Japan in the past decade.

“Blockchain is an opportunity for Korea to take the lead in global internet platform [development,]” he said.

Growth of the Asian Market

With Japan as the largest cryptocurrency exchange market ahead of the US, Asia has already become the biggest cryptocurrency and blockchain market. Increasing efforts and initiatives by countries like Thailand, South Korea, Japan, and the Philippines to develop the blockchain sector will positively impact cryptocurrencies in the long-term.

Bolstered by stable trading volume, growing network activity, and increasing validation on Wall Street, the bitcoin price could be on the brink of a major move to the upside.

eToro senior market analyst Mati Greenspan said that the stars continue to align for a potential bitcoin rally, making it increasingly likely that the most prominent cryptocurrency will soon break out of its holding pattern.

“It’s only a matter of time now,” he said of a potential bitcoin breakout. “Of course, the flatline pattern could easily remain for another few months and that wouldn’t be a bad thing, however, there are signs of excitement boiling underneath the cool price action exterior.”

Greenspan, who previously said that he thought bitcoin was heading into a “classic breakout pattern,” identified three catalysts that he said were suggestive of an imminent breakout, namely, a rising transaction rate, steady daily trading volumes, and the continuing growth of cryptocurrency-related activities on Wall Street.

bitcoin transaction rate

Citing data from Blockchain, Greenspan notes that the number of bitcoin transactions per second — which plunged during the first quarter — has steadily risen throughout the second half of 2018. Since dropping below 2.0 TPS in mid-April, the transaction rate has climbed to 2.78 as of Thursday morning — a six-month increase of more than 40 percent. While still far below the 4.8 TPS achieved in late December, this present growth has occurred during relatively stable market conditions — not a parabolic rally. This, Greenspan said, is “a classic indication that we’re nearing the end of the flat cycle.”

Cryptocurrency market cap
Source: Mati Greenspan/eToro

Concurrently, daily cryptocurrency trading volumes, which steadily declined throughout most of the year, appear to have flatlined near $10 billion over the past several months, which Greenspan notes is “exponentially higher” than the average daily volumes seen during the last bear market.

But while volumes on cryptocurrency spot exchanges have flatlined, trading activity within the Wall Street futures markets are booming. CME Group — operator of the largest U.S. bitcoin futures market — identified a 41 percent quarter-over-quarter increase in the average daily volume during Q3. On a daily basis, CME is handling approximately as much volume as Upbit, one of the largest spot cryptocurrency exchanges in South Korea.

Taken together, Greenspan argues that these data points bode well for the short and mid-term future of the cryptocurrency market.

The International Monetary Fund (IMF) has stated in a recently released report that the rapid growth of Bitcoin and crypto could impact the international finance system.

The report entitled “World Economic Outlook: Challenges to Steady Growth” published by the IMF read:

“Cybersecurity breaches and cyberattacks on critical financial infrastructure represent an additional source of risk because they could undermine cross-border payment systems and disrupt the flow of goods and services. Continued rapid growth of crypto assets could create new vulnerabilities in the international financial system.”

Rapid Growth, Improving Regulation, Acknowledgement From Government Agencies

Despite the 80 percent decline in the valuation of the crypto market, the industry has seen some of the most positive developments regarding the institutionalization, regulation, and development of cryptocurrencies as an emerging asset class in the past nine months.

Led by existing companies like Coinbase and Gemini, major financial institutions in the likes of NYSE, Cboe, and Goldman Sachs have started to strengthen the infrastructure of the cryptocurrency market, allowing both high profile retail traders and institutional investors to allocate large amounts of money in the asset class.

As the cryptocurrency sector continues to grow at an exponential rate, the IMF emphasized that it could create vulnerabilities in the financial system. Because cryptocurrencies are considered alternative currencies with value, a growing number of hackers have started to target digital asset trading platforms with sophisticated tools and hacking methods.

“Stealing cryptocurrencies is similar to stealing cash, and exchanges will continue to be targeted by hacking attacks in the long-term. It is as important to establish systems to deal with the aftermath of hacking attacks as integrating various methods to prevent hacking attacks,” Jeon Ha-jin, the chairman of South Korea Blockchain Association said.

South Korea bitcoin

In South Korea, the third largest cryptocurrency exchange market behind the US and Japan, exchanges have begun to insure their funds through trusted insurance providers like Samsung to add an additional layer of security and investor protection.

Gemini, a leading cryptocurrency exchange in the US alongside Coinbase, also recently obtained insurance services from Aon to ensure that in an unlikely event of a security breach, the exchange is able to cover user funds and holdings fully.

“Consumers are looking for the same levels of insured protection they’re used to being afforded by traditional financial institutions. Educating our insurers not only allows us to provide such protections to our customers, but it also sets the expectation for consumer protection across the crypto industry,” Yusuf Hussain, Gemini’s Head of Risk, said.

The cryptocurrency industry and infrastructure employed by exchanges are relatively new and fundamentally different from the technologies implemented by the traditional finance sector. As such, it is appropriate for the IMF and government agencies to describe the rapid growth of the asset class a risk to global finance.

But, continuous efforts to strengthen the infrastructure of the cryptocurrency market and improve investor protection will reduce the risk cryptocurrencies have on the global finance industry.

Expert Believes it is Optimistic

Emin Gun Sirer, a professor at the prestigious Cornell University and a highly regarded expert in the space of cryptocurrency and blockchain, stated that the acknowledgement of cryptocurrencies as an asset class by the IMF is optimistic for the industry.


On Oct. 6, Larry Cermak, former editor at Diar and head analyst at The Block, reported that leading crypto exchange Bitfinex obtained a banking partner in HSBC, a $133 billion banking giant based in London.

“Bitfinex is now banking with HSBC through a private account of Global Trading Solutions. Very good fit if you ask me. It’s also worth mentioning that all EUR, JPY and GBP deposits are paused but Bitfinex ‘expects the situation to normalize within a week’” Cermak said.

Why is HSBC Accommodating Bitfinex?

As one of the oldest cryptocurrency exchanges, Bitfinex has experienced some of the most difficult challenges an exchange could face, particularly before major cryptocurrency markets like Japan, South Korea, and the US offered clarity on cryptocurrency regulation.

The exchange’s conflict with Taiwanese banks is well-documented, and in April 2017, Bitfinex initiated a lawsuit against Wells Fargo, a US-based banking giant, for blocking deposits to the banking account of Bitfinex and disrupting operations of the business.

“The decision to initiate legal action is because we cannot allow precedents in this industry where clearing houses can disrupt businesses that are by all metrics complying with the rules in place. If we allow them to simply flip a switch and disrupt business, then there becomes a precedent in the bitcoin industry beyond just Bitfinex, so we believe it is the appropriate time to take action,” Bitfinex said at the time.

Since then, Bitfinex has moved out of Taiwan and relocated to the Caribbean and in May, Bloomberg reported that the exchange partnered with Noble Bank to process transactions sent by its clients.

However, Noble Bank has announced to file for bankruptcy following an in-principle deal to restructure debt in January and with that, the only banking partner of Bitfinex vanished.

bitfinex cryptocurrency exchange bitcoin

HSBC is really the first proper banking partner Bitfinex has obtained since Wells Fargo in 2017. If the deal between Bitfinex and HSBC can be sustained throughout the long-term, it will bring a level of stability to the operations of Bitfinex which the exchange failed to secure in the past four years.

Speaking to The Block, Kasper Rasmussen, director of communications at Bitfinex said that the firm cannot comment on the nature of the partnership between the exchange and HSBC.

“Bitfinex does not, and has never, commented on actual or potential business relationships and this is not subject to change now,” Rasmussen stated.

Given the the $200 million dollar daily trading volume of Bitfinex and the amount of fiat deposits the exchange receives from its international customers, it is not possible for the exchange to unilaterally announce its dependence on HSBC as a banking partner through a private banking account.

It is highly probable that the exchange, with strict Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements, obtained the banking service of HSBC through a strictly regulated channel.

Positive Impact on the Industry

Already, most exchanges in major markets like Japan and South Korea have obtained banking services by large financial institutions and commercial banks in their respective countries. If Bitfinex can sustain its partnership with HSBC, it will have a positive impact on the stability of the crypto market.

Binance, the world’s largest crypto exchange by daily trading volume, is set to launch a beta version of its decentralized exchange (DEX) by early 2019.

Changpeng Zhao, the CEO of Binance better known to the community as CZ, said on Saturday:

“Just had a productive meeting for Binance DEX (decentralized exchange), where BNB will be native gas, and the exchange don’t control user funds. Aiming for a public beta end of the year/early next year. Yes, we work on Saturdays, non stop.”

Why is Binance Launching a DEX?

In July, on CNBC Crypto Trader hosted by Ran Neuner, CZ stated that he personally believes decentralized exchange is the future of crypto.

In the long-term, CZ explained that users will be able to utilize non-custodial wallets to trade cryptocurrencies in a peer-to-peer manner with full control over their funds.

“I believe that decentralized exchange is the future. I don’t know when that future will come yet. I think we’re at an early stage for that so I don’t know if it’s a year, two years, three years, or five years. I don’t know but we got to be ready for it,” he said.

bnb binance coin

As a centralized cryptocurrency exchange, most of its revenues and profits are generated by the fees charged by the exchange. But, decentralized exchanges can also charge a native fee embedded into the smart contracts utilized by the platform to broadcast transactions to the mainnet of public blockchain networks like Ethereum.

In October of last year, Ethereum co-creator Vitalik Buterin praised a model utilized by EtherDelta, a decentralized exchange, to incentivize developers for maintaining the platform.

“I think the EtherDelta model for developers getting paid is underrated,” he said.

At the time, a South Korea-based cryptocurrency user recommended Binance to Buterin on Twitter, mentioning its low 0.05% fee. Buterin responded that to use centralized exchanges, a process of setting up accounts is required. On decentralized exchanges, users can utilize existing wallets like MetaMask to trade.

“That requires setting up an account. I like EtherDelta precisely because it doesn’t. Just visit the site with MetaMask on and start using it. Not slow at all. I don’t give a damn about split-second trading. To me, speed includes login, deposit, withdrawal, logout time,” Buterin explained.

How Can Decentralized Exchanges Compete Against Centralized Platforms?

According to CZ, Binance is probably a more secure alternative to decentralized exchanges because of its strong architecture and infrastructure. Binance has never been hacked since its launch in 2017.

CZ emphasized that the real merit of using decentralized exchanges is in the freedom and control over user funds. On a decentralized exchange, users do not have to create user accounts or file withdrawal requests. Every trading activity is done on the blockchain with a non-custodial wallet.

Eventually, as the adoption of cryptocurrencies increases and fiat becomes less relevant in the cryptocurrency exchange market, traders will likely shift from centralized platforms to decentralized exchanges.

The Binance team remains uncertain when the change will happen but as CZ said, the company is getting ready for it.

Syndicated from CCN

Over the past year, SBI Ripple Asia has brought in 61 Japanese banks to its consortium representing 80 percent of Japan’s total assets. In the upcoming months, the consortium could begin to utilize the Ripple network to process cross-border payments.

On September 26, SBI Ripple Asia successfully registered with the Kantou Bureau of Japan’s Ministry of Finance as a licensed electronic payments agent. The license allows the organization to operate as a money transmitter, processing and clearing transactions on behalf of individuals and businesses.

Initially, the organization Asia will test out its MoneyTap payments app, a blockchain-based money transfer service for retail users, but the licence is expected to lead to an increased adoption of Ripple.

Increasing Demand in Japan

Last week, the price of XRP, the native cryptocurrency of Ripple, increased by nearly three-fold. Around the same time, the volume of XRP-to-yen and XRP-to-crypto trading pairs surged in the Japanese cryptocurrency exchange market, fueling the rally of XRP.

Analysts attributed the abrupt increase in the price of XRP to the increase in demand for the asset from the Japanese cryptocurrency exchange market, which remains as the largest crypto market ahead of the US and South Korea.

It is entirely possible that growing anticipation towards the integration of Ripple by the 61 banks involved in the consortium and two of the biggest commercial banks in South Korea Woori Bank and Shinhan Bank is contributing to the newly found momentum of XRP.

Based on local regulations, businesses that intend to work with banks and their APIs to process payments are required to be licensed as a electronic payments agent and register with local financial bureaus.

The recent move of SBI Ripple Asia frees the institution from holding back the integration of various blockchain-based products such as xRapid and xCurrent into the existing infrastructure of major banks.

Already, in March of this year, Woori Bank and Shinhan Bank conducted a pilot test of Ripple’s liquidity products to process cross-border payments between banks in the SBI Ripple Asia consortium.

In December 2017, the Ripple team wrote:

“The Japan Bank Consortium will use Ripple’s settlement technology, xCurrent, to settle transactions between participating Japanese banks and Woori Bank or Shinhan Bank. The pilot solidifies the Japan Bank Consortium’s commitment to modernize payment systems — specifically in the Japan/Korea corridor where Korea is Japan’s third largest trade partner — to send money instantly, removing the need for intermediaries while reducing the cost of sending global payments.”

Earlier this year, Woori Bank hinted full integration of XRP by the end of 2018, if it is ready to be implemented onto the bank’s services for international payments. The status of SBI Ripple as a licensed payments agent increases the probability of large commercial banks in Asia collaborating more actively with the organization to speed up the integration of XRP.

Dozens of Banks Will Use XRP

At the Money 20/20 conference, Ripple CEO Garlinghouse explained that dozens of major banks will utilize the Ripple network to process payments.

“I’ve publicly stated that by the end of this year I have every confidence that major banks will use XRapid as a liquidity tool. You know, by the end of next year, I would certainly hope that we would see you know in the order of… dozens,” Garlinghouse said.

The Japanese and South Korean finance markets are closest to adopting XRP and its liquidity products.

Nasdaq, the world’s second-largest stock exchange, announced Friday that it is in the works to acquire Cinnober, a trading solution provider based in Sweden.

Cinnober has a history for bullishness towards digital assets and making it easier for institutions to invest in them. One of those efforts is the partnership with BitGo, a behemoth for institutional-grade cryptocurrency custody security. BitGo itself has built partnerships and acquisitions over its history, which have helped it firm up its mission, including the acquisition of Kingdom Trust and a partnership with the South Korea exchange Korbit.

Nasdaq: More Prepping for Cryptocurrency Trading?

Nasdaq’s latest acquisition highlights, though indirectly in this case, its taste for cryptocurrency trading. As CCJ reported, on the heels of the SEC’s second rejection for the Winklevoss twins’ ETF, the Nasdaq held a closed-door meeting with cryptocurrency industry experts. In the meeting, participants discussed ways to legitimize cryptocurrencies as a traditional securities product, especially in ways to appease the fickle SEC.

Cinnober’s BitGo platform is well-suited for large institutional investors in Nasdaq. The multi-signature security and custody solution with BitGo has made it one of the most popular in the space. Nasdaq’s release points to their interest in Cinnober’s success in offering newer asset types. Adena Friedman, President and CEO, Nasdaq, said:

“The combined intellectual capital, technology competence and capabilities of Cinnober and our Market Technology business will expand the breadth and depth of our fastest growing division at Nasdaq. Not only have the global capital markets continued to evolve rapidly, new marketplaces in various industries are demanding market technology infrastructure that enables rapid growth and scale as well as access to tools to promote market integrity. This acquisition will enhance our ability to serve market infrastructure operators worldwide, and will accelerate our ability to expand into new growth segments.”

Cinnober has developed in-house solutions and technology acquisitions that make it a prime candidate for the tech-heavy Nasdaq Corporation. Cinnober’s cryptocurrency custodian service, in specific, could be one of the most coveted arms of the acquisition, as questions over custodianship have made many institutional investors leery.

Household names in finance are racing to developer regulated and clearly audited custodian solutions, including Citigroup and Bank of America.

Exchange Hacks Marred Crypto’s History

Large institutions’ concerns over custody are understandable, given the number of exchanges hacked in Bitcoin’s history. The Bancor exchange hack is the most recent large example. Many cryptocurrency experts believe that the custodian problem has been solved, especially with multi-signature technology and cold storage.

While the technology is there, legitimacy can only be improved when large names like Nasdaq can provide tangible audits that traditional securities managers are accustomed to. Nasdaq acquisition of Cinnober is another box to check off in the race to provide the first (and best) publicly trading cryptocurrency vehicle (and thus the servicing fees that translate to more profits.)

There are a few ways to earn Bitcoin without depositing one single Satoshi of your own. From using faucet sites, taking polls, or getting paid for freelance work in Bitcoin, venues that pay in BTCare readily available for those willing to earn it through hard work or sacrificing time.

Only problem is, most of these will earn you an extremely small amount of Satoshi for the time you put in and are downright boring. If you’re like me, what you really wanna find is an easy way to earn a decent amount of Bitcoin while having fun doing it, right?

For example, would you believe that there are video games that you can play on your desktop or smartphone app that allow you to earn Bitcoin (or another digital token which can be exchanged for Bitcoin) while getting lost in playing a game you’ll actually enjoy.

Playing Bitcoin Games with Zero Deposit

Every single game listed on this article is free to play. That’s right, no deposit required. I was also careful to list games that are actually fun to play and require some element of skill as opposed to straight up luck.

Bitcoin Trading Games

spark profit trading for btc virtual trading weekly rewards

SparkProfit – if you consider yourself a financial genius or the next up and coming Wolf of Wall Street, but live off a steady diet of Top Ramen within the humble confines of your grandmother’s basement, this might be the right game for you.

This financial trading simulation has you making predictions on real financial marketplaces, including cryptocurrency markets as well as Forex. The more accurate your predictions are the more points you unlock because of it. You can then cash out your points to Bitcoin at any time.

Another great aspect to the platform is the fact that they provide you with the plethora tutorials and resources in order to help you become a “real” successful trader.

You can earn up to a few hundred dollars worth of Bitcoin per month if you work hard at.

Check out their introduction video here:

Altcoin Fanstasy – this is one of the newer virtual crypto trading games you can play that promises to teach you how to trade crypto within a risk-free environment. Test your trading skills on a competitive leaderboard environment without sacrificing any of your own hard earned money.

Altcoin Fantasy opens their doors to the public in January 2018. You can trade on their website or mobile app which is compatible with both Android and iOS devices. They’re currently available to US and Canadian residents and are looking to expand to Japan, South Korea, and Hong Kong very soon.

Altcoin Fantasy - Crypto Fantasy Trading Gam

The Interface

The game is very well laid out and has a professional interface that you’d expect to see from a fantasy sports website. The company includes both weekly and monthly contests where you can win real Bitcoin thanks to their partnerships.

Choose from a selection of trading contests hosted by various sponsors. View prizes from each contest and sign up to each one of them for free. You begin a contest with 10,000 virtual US dollars. Your goal is to accumulate as much cryptocurrency (thus increasing your USD value) by the end of the contest period. If you can do just that, you’ll end up winning the contest and awarded your prize money in Bitcoin.

Altcoin Fanstasy interface leaderboard

How Much Can You Win?

This depends on the contest you enter. Some contests only award the top winner the prize while others split the prize money among the top 50 or 100 traders.

You can also win other cryptocurrencies besides Bitcoin like Stellar Lumens, Ethereum, and many others. You’ll also find that other virtual trading contests award prizes in USD, which is a great alternative for most.

Altcoin Fantasy gives away hundreds of dollars in prizes every single week, free of charge. This is one of the best virtual cryptocurrency trading sites to date.

Check out this Altcoin Fantasy Video Walkthrough:

Earn Bitcoin Playing Flash Games

Tremor Games – this online flash gaming site offers a wide range of games, much like any other typical flash arcade. However, unlike your typical run-of-the-mill flash gaming site, you can earn “Tremor Coins” while playing and gaining achievements. Once you’ve built up enough tremor points, you can then exchange them for a wide range of prizes, which include Bitcoin withdrawals. – this is a bit of a spin on your typical Bitcoin faucet site. However, this flash gaming site allows you to play a variety of flash games while paying you every three minutes for your time from a Bitcoin faucet.

Bitcoin Brain Games

brain-games-to-earn-btc-bitcoin-satoshis-quizSatoshi Quiz – this game is a surprisingly fun game with a variety of very interesting questions along with a a prize pot of 1000 Satoshis for every question answered. There’s a good mix between easy and hard questions, and they even allow you 1 minute for each question so if you’re quick behind the keyboard, you may be able to Google the answer before the time limit runs out. There are also standard challenges where prizes of up to 1 million Satoshis are awarded.

Quiz BTC – a “competition style” quiz site allows you to earn free Bitcoin by being the first one to answer a question correctly. The person to answer the question the fastest earns more Bitcoin satoshis. Questions are posted every minute and satoshis are awarded regardless if you answer the question faster than your competitor.

Bitcoin Apps & Smartphone Games

Takara (iOS only) – this PokémonGo style geo-location game allows you to collect coins from specific locations in your area. The game will also be available to Android users soon.

Oh Crop – this highly addictive android game allows players to dodge in we’ve through multiple projectiles in order to avoid evil plants that are trying to kill you. You collect game tokens and power ups which help you survive and kill the enemy plants. The primary goal of the game is to survive as long as possible with the highest amount of points.

oh crop mobile game btc bitcoin app smartphone android iphone

This simple and intuitive game relies on the in-games accelorometer (virtual joystick) for movement of your in-game character. This is not only a great smartphone game, but the fact that you can earn Bitcoins as a reward while playing makes it even that much more addictive.

In order to claim your Bitcoins, you need to make it to the top 15 strongest players on the leaderboard. Don’t worry if you don’t make it at first, as the game has cycles that last several days, where the leaderboard is reset after each cycle.

c- this smartphone game allows you to become a Bitcoin mining tycoon by allowing you to purchase virtual mining rigs in order to mine Bitcoins for profit. The game starts you out with a few simple machines so that you can earn enough Bitcoin to purchase your own in-game mining farm. From there you can continuously improve your farm in order to generate a nice ROI.


Storm Play – this fun and easy way to earn free Bitcoin allows users to earn STORM, Bitcoin, and Ethereum tokens by trying out new games products and services. Deposit your new earnings to your Coinbase, Exodus, or any other personal wallet you own.

Earn Bitcoin Playing RPG

BitQuest Announces Minecraft Architecture btc bitcoin mining

BitQuest – if you’re a MineCraft fan you’re going to absolutely go crazy over this game. If not, I guarantee you’ll still get addicted. This popular “sandbox game” allows players to build game worlds in which you define a story and have full control over all aspects of your creation.

The MineCraft style game includes Bitcoin as its main in-game currency which you earn by mining, trading, and interacting with other players.

Spells of Genesis – the longest running Bitcoin RPG to date, Spells of Genesis is everything you ever wanted in a Bitcoin RPG game and more. You can play this amazing RPG on both desktop and mobile devices. This RPG mixes the trading card game genre, with a strategy based game, as well as implementing arcade style gaming elements.

spells of genesis

You’ll need to collect, trade, and combine orbs in order to build the strongest gameplay deck you can in order to test them against other opponents while exploring the vast world of Askian.

Unlike other free Bitcoin RPG games, players are able to actually own their in-game items and cards outside of the game itself on blockchain. Now keep in mind that you can exactly earn Bitcoin directly within the game, however you do build up a collection of rare cards, which when fully upgraded, can be stored on the Bitcoin blockchain utilizing Counterparty protocol.

This in turn allows you to trade with other players on the decentralized exchange. If you’re lucky enough to snag a rare or powerful card, you’ll have no problem finding another player willing to purchase it on the exchange.

Check out their Twitter page here. Their community is constantly expanding as fast as the in-game development itself.

spells of genesis bitcoin game

CoinBrawl – this unique RPG Bitcoin game allows you to fight other players, level up your hero while earning Satoshis through their in-game faucet. The site claims that you can upgrade your character and earn more than 100,000 Satoshis per day.

Click here the check out their top 100 Coinbrawl players and the amount of Satoshis that have been earned from each.

Let me know if you have any others to add to the list…

As always, if you have any other games that you’ve stumbled across that could be added to the list, please leave your comment below. I’d be more than happy to add them.

   Looking for something a bit more?
  Check out our review for Gods Unchained – the first competitive e-sports RPG/Hearthstone style game on the Ethereum network back by Coinbase.

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Plus Free Crypto Trading Guides, Tutorials, Latest Crypto News,
and Altcoin Reviews. (Coming Soon: Pro Trading Signals)
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Plus Free Crypto Trading Guides, Tutorials,
Latest Crypto News, and Altcoin Reviews
(Coming Soon: Pro Trading Signals)
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