With over 3 million active users and with its TVL scaling beyond $600 million, the Base Network (a solution pioneered by Coinbase) has proven to be a successful train that keeps on moving.
Typical of 1xBit to key into trends, it recently announced its inclusion of the network to further make processing transactions on the crypto betting platform smoother. This announcement favours users of 1xBit, as they now have three tokens integrated on the Base Network: Ethereum on Base, DAI on Base and USD coin on Base. All in a bid to expand on the over 40 crypto payment methods currently available at 1xBit.
What is the Base Network?
If you are confused about what Base Network stands for and how it is beneficial to the everyday user on 1xBit, do not worry, we will shed some light on the subject.
Base is simply another Ethereum Layer-2 solution developed with improved scalability, affordability, and access in mind.
What do you Stand to Gain for Using Base on 1xBit?
Now that you have an insight into the definition of Base, let’s look at what you stand to gain by using Base on 1xBit.
Faster Transactions
With Base, you are promised an even better efficiency with how speedily transactions are processed. This is because the solution works with a rollup technology that favours the bundling of multiple transactions together to submit to the Ethereum chain for settlement at a go.
So, unlike what’s attainable with Ethereum L1, transactions with base are processed in a timely fashion. All of this works in your favour as deposits and withdrawals back into your Base wallet from 1xBit will be processed with the speed of light.
Cheaper Transactions
Transaction cost has always been a concern with cryptocurrency. If you have ever felt uncomfortable with the gas fees on Ethereum, then you are in for a smoother ride with Base. Because of the mode of operation with Base seeing as transactions are “rolled up,” as such, the fees charged end up being almost insignificant.
With that in mind, regardless of the amount you intend to fund/withdraw from your 1xBit account via the Base network, you get it done at almost zero cost.
Easy to Use
When you consider that Base is integrated with Coinbase, one of the world’s biggest crypto exchanges, you see how easy it must be to use. You can easily exchange fiat for your preferred crypto on Coinbase and move seamlessly to your Base wallet before transacting on 1xBit.
Highly Secure
You have no cause to be worried about the safety of your funds on the Base network as they are protected by Ethereum’s foolproof security. Base also has in the works a system that fact-checks transactions to be sure they are legit, before approval. Hence, the possibility of fraudulent transactions happening on the Base Network is curtailed to the barest minimum.
Solid Reputation
Base rides on the solid reputation of Coinbase and Ethereum. While it experienced some challenges at its inception, the backbone on which the solution was built is responsible for the upward growth in users since its launch less than a year ago.
Conclusion
Are you an active user on 1xBit looking for a cheaper, faster, and more secure way of depositing or withdrawing at the betting platform? Why not give a Base a shot?
Register and use a promo code NEWS125 to claim a up to 8.75 BTC welcome bonus.
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Source: https://thenewscrypto.com/1xbit-welcomes-new-network-base/