Is there a simpler game of chance than tossing a coin and awarding the person who predicts the outcome? Probably not. But don’t let that simple, deceiving-looking name of a game fool you. Indeed, there are games that simple online, especially on the blockchain, that take advantage of the simplicity and actually let players bet on flipping a coin. But for the most part, coin flip games are much more complex games which have talented users play with the exchange rates of cryptocurrencies in order for them to make a profit.
For this reason, we’ll dive into both the traditional and the exchange coin flip games in this material. For once, coin flip games are attractive because they’re simple to understand and play. Also, there’s not such a huge need for a complicated strategy, because once you flip the coin, or make the exchange, you’re really getting immediate feedback. If you flip the coin on Heads and you predicted that, you win. If you exchange Bitcoins for Ethereum and the price of the latter booms, you again win.
Traditional coin flip
In a game of traditional coin flip, the player has to predict the outcome of the flipping of a coin. He can choose between Heads or Tails. Before the coin flip, the player puts a wager down depending on how much he wants to bet on that certain hand. There are limits as to how little or big a certain bet can be, depending on the online casino you’re playing the game at. After the wager has been placed on the predicted outcome, the coin gets flipped.
You might be wondering how come such a simple game can be so popular amongst Bitcoin gamblers. The very simplicity of the game is the reason why people look into the game so much. It’s just fast, simple and fun. And you get the results of your prediction back as fast as, well, the flip of a coin. And because of the provably fair algorithm used with these games, players can verify if each and every single flip of the coin was indeed random. This makes coin flip into a very sought-after game, loved by thousands upon thousands of players all over the globe.
Exchange coin flip
The second, more advanced coin flip game based on the blockchain is the exchange version. With this game, you’re presented with an exchange interface on which there are many cryptocurrencies available. Your main goal here is to exchange or flip coins, as in virtual coins, in order to make a profit. Think about those fancy traders on Wall Street, with their fast-paced shouts and actions trying to buy and sell some valuable assets. That’s exactly what you’ll be doing in the game, except you’re doing it online.
There are many versions of the exchange coin flip out there, as you’d expect, varying in virtual coins offered, style of gameplay, payouts and so on. It’s just a matter of personal preference which one of them you’ll choose to play on. In the end, no matter which game you’re going for, remember that you’re always protected by the provably fair algorithm, meaning you’re really getting randomly generated outcomes for every exchange you’re making in the game. This makes the game not only safe, but much more enjoyable for players, now that they know they can’t be cheated by a random number generator they simply cannot verify at the end of the gaming session.