What Is Lucky Block And How To Buy It?

The post What Is Lucky Block And How To Buy It? appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

Lucky Block is a decentralized crypto lottery project, with the aim to solve some of the issues facing conventional lottery gaming platforms, such as a lack of transparency in payouts, poor odds for players, and a not provably fair RNG.

Founded by a London, UK-based company, its CEO Scott Ryder followed the history of scandal, fraud, and corruption surrounding the state-franchised National Lottery, holding the public contract of which is worth in excess of £80 billion ($100 billion). Camelot has won every contest to hold the license, despite being continually taken to court accused of unfair play.

As the saying goes – Bitcoin fixes this. Or in this case, another crypto on the Blockchain such as LBLOCK, the native token of Lucky Block.

As the Blockchain is an immutable ledger, Blockchain technology can be implemented to increase transparency in all forms of online transactions including in gaming and the gambling industry.

How to Buy Lucky Block

Visit Lucky Block’s official page for full instructions on how to buy, as navigating Pancakeswap exchange where it is listed can be confusing for first-time buyers.

You can also find links to the official crypto Reddit and Telegram group for the project there – which has 41,000 members at present.

Team admins are on hand to help you make a purchase or answer questions, and a buy bot keeps track of large buy orders, price fluctuations, and the latest market cap.

A summarized step by step guide is below:

• Purchase Binance Coin (BNB)
• Open a Trust wallet or Metamask wallet
• Visit Pancakeswap.finance and click ‘Connect wallet’
• Search for the token you want to buy – to avoid impersonations, it’s best to enter the contract address directly – each listed crypto has one
• For LBLOCK, that is 0x2cD96e8C3FF6b5E01169F6E3b61D28204E7810Bb
• Enter the amount of tokens you want to buy (by swapping BNB for them)
• Confirm the order
• You may also need to enter the Lucky Block contract address in your wallet for your newly bought tokens to show up there

Pancakeswap works in this way as it’s a crypto-to-crypto decentralized exchange – DEXes don’t use fiat currency. The advantage of navigating them is they list many hidden gems that are yet to achieve mass adoption.

If you’d prefer to buy on a centralized exchange, the other crypto exchange to list LBLOCK so far is LBank, whose website is LBank.info.

Lucky Block Roadmap

Further exchange listingd are expected to be announced in the future, which should cause a price rise – LBLOCK hit its current all-time high (ATH) of $0.0097 the day it was listed on LBank.

That was approximately a 50x growth from its initial trading price of $0.00020, and 65x from its early presale price of $0.00015.

In March 2022 a limited edition NFT collection of 10,000 NFTs is set to be minted, expected to sell out quickly. Join the Telegram chat group for more announcements.

That collection of NFTs, the Lucky Block Platinum Rollers Club, enables owners exclusive access to a daily jackpot prize draw and contains 25 rares which double the prize payout when hit. One lucky NFT holder will also win a Lamborghini sports car.

That month the beta release of the Lucky Block app is also scheduled to be released, as well its inaugural crypto lottery draw taking place – LBLOCK is less than two months old, having launched Jan 26th, 2022 so it’s still an early price point to enter – its use case is yet to be demonstrated fully, and successful implementation of the first lottery draw later this month could cause an increase in valuation.

Crypto Passive Income for Holders

The best cryptos to buy often have some staking or income-earning functionality, to generate passive income as an incentive to hodl – reducing selling pressure and manipulation by whales.

According to the whitepaper, 10% of Lucky Block lottery jackpots are to be shared among all token holders, relative to the number of tokens they hold, as a redistributed form of income to incentivize more holders and fewer sellers.

Currently, the jackpot prize pool has already swollen to over $5 million as there is also a transactional tax on selling, part of which funds the jackpot prizepool – similar to a ‘token burn’ where every time tokens are transacted they are burnt, in the case of LBLOCK their value is moved into the jackpot pool.

A secondary incentive to hold.

It’s unsurprising then that the LBLOCK token price is still over 20x higher than its presale price, as token holders can earn an annual percentage yield similar to when investors stake coins – although it isn’t necessary to lockup LBLOCK tokens and the mechanism is unique, different to staking.

Lucky Block has been featured in The Express, Nasdaq.com, and various other media outlets and financial analysis publications, alongside trending on crypto Reddit.