How to Buy InsanityBets ($IBET) – A Beginner’s Guide

InsanityBets is a decentralized platform that revolutionizes online gaming by allowing users to become part of ‘the house.’ Users can earn from gameplay losses through a unique $ILP contract. It is worth noting that the project opts for a fully community-driven approach to gaming.

This article outlines detailed steps on how to buy InsanityBets ($IBET) tokens and discusses its growth potential amid the broader market recovery.

InsanityBets Token Key Points

Here’s a quick summary of InsanityBets:

  • Discounted Price: The InsanityBets presale offers a chance to buy $IBET tokens at discounted prices (with 50% of the total supply available for early investors).
  • Staking Incentives: $IBET has a capped supply of 5 billion tokens with various staking options like $sIBET, $esIBET, and $bIBET. Each option provides high yields and incentives for token holders.
  • Community-driven: The InsanityBets DAO governs the platform. This community-focused approach gives users a say in the project’s development.
  • Expansion Plans: The project has a promising roadmap that aims to increase its utility and expand its reach in the coming months.

How to Buy InsanityBets ($IBET): A Beginner’s Guide

Early investors can buy InsanityBets by following the four simple steps below:

Step 1: Set Up Payments/Wallet

Before starting, ensure you have enough ‘gas’ to complete the transaction. (Users pay gas fees to cover the cost of the computing resources needed to process and validate transactions on the blockchain.)

You can opt for CEXs like Binance and Coinbase, which offer a user-friendly experience for beginners. DeFi wallets such as MetaMask, TrustWallet, or Coinbase Wallet are good choices for those preferring a more hands-on approach. You can use a new wallet with just enough funds for your purchase and the necessary gas fees.

Step 2: Go To The $IBET Buying Page

Go to InsanityBets’ presale page. Here, you can click ‘Buy’ and enter the amount of $IBET you want.

InsanityBets presale buying page

Next, select the blockchain network you wish to use for the transaction and choose the crypto you’ll pay for. Before proceeding, carefully read and agree to the T&Cs.

InsanityBets buying page

Step 3: Complete Your Payment

After clicking the ‘Buy’ button, scan the displayed QR code with your wallet app (for mobile wallet users). If you’re using a desktop wallet or browser extension, simply copy the wallet address provided and transfer the exact payment amount.

Complete Payment to buy InsanityBets

Note: Overpayments will result in receiving extra $IBET tokens, while underpayments will reduce your token order. (Bonuses will be applied automatically.)

Step 4: Confirm the Transaction

Users should wait up to an hour for the transaction to be processed and the coins to reflect in their Account dashboard. After the presale period, you can claim your coins through the ‘Claims’ page once liquidity is added.

What is InsanityBets?

InsanityBets is a hot new platform at the intersection of CasinoFi and GameFi that revolutionizes how we look at online gaming. It Integrates blockchain and offers a non-custodial, decentralized platform to provide an exciting and rewarding casino experience that lets players become part of ‘the house.’

The platform lets users deposit cryptos like $USDT, $ETH, and $BTC into its unique $ILP contract. This allows them to earn yields not from inflation but from the gameplay losses of others.

$ILP is at the heart of InsanityBets and acts as the house fund (with liquidity providers sharing in the wins and losses of the platform). The size of the $ILP pool directly impacts bet sizes and user participation.

InsanityBets

Every game on InsanityBets (from dice rolls to card flips) contributes to a collective pool to create a flywheel effect that benefits the entire community. InsanityBets focuses on transparency and fairness by using Chainlink VRF to ensure random and fair game outcomes. 

Moreover, the platform’s governance is led by the ‘InsanityBets DAO,’ allowing the community to have a decisive say in the project’s evolution from game offerings to fee structures. This also creates a sense of ownership and involvement, making InsanityBets a truly community-driven platform.

Tokenomics

The recently launched presale offers an exciting opportunity to get in early at relatively discounted prices. Per the InsanityBets whitepaper, the IBET token has a supply cap of 5 billion. 50% of these tokens are available in the presale phase for early buyers.

It is also worth noting that $IBET has multiple derivatives, each with its purpose and benefits:

  • Staked $IBET ($sIBET): By staking $IBET, users can get $sIBET. This gives them a 35% share of protocol fees. The longer you stake, the more you earn, with multiplier points increasing yields for long-term stakers.
  • Escrowed $IBET ($esIBET): $esIBET is a staking derivative automatically rewarded to $sIBET holders (acting as an escrowed $IBET). It auto compounds rewards and can be vested over 9 months, with re-staking required for vesting.
  • Burned $IBET ($bIBET): Here, users contribute to reducing the total circulating supply of $IBET by permanently burning their tokens. In this case, they are rewarded 50% of the platform’s fees.

The remaining distribution includes 10% for $esIBET staking rewards, 5% for exchange listings and liquidity mining, 5% for airdrops, and 30% for the Insanity Labs team. It is worth noting that the team’s allocation is locked for 80 weeks. 

This ensures long-term commitment and stability. With its transparent and innovative approach, InsanityBets can redefine the online gaming landscape and become one of the best cryptos to watch out for.

Presale and Future Prospects

The InsanityBets presale is structured in 15 stages, allowing early investors to benefit from various innovative features. The presale aims to decentralize ownership and fund liquidity on decentralized exchanges.

After the presale, $IBET token holders can stake or burn their tokens to receive yields from trading, ILP, and game-winner fees. The platform is set to accept various cryptos in the future to further increase its reach.

Interested buyers can enter the InsanityBets Telegram group and follow it on X (formerly Twitter) to get the latest news on the project’s progress and listing updates.

Why Buy InsanityBets?

Many buyers are looking for the next crypto to explode as the broader crypto market shows signs of recovery. Below are some top reasons to buy InsanityBets:

  • Tapping into a Lucrative Market: The global revenue from casino games reached $9.37 billion in 2022 and is projected to surge to $14.02 billion by 2027. The platform aims to capture a significant portion of this revenue by offering a transparent and secure betting experience.
  • Low House Edge and High Yield: InsanityBets sets itself apart by offering a house edge of just 1-5% (which is considerably lower than the industry standard of 5-10%). This competitive advantage and the platform’s ability to offer high yields create a win-win situation for players.
  • Investment opportunities: InsanityBets offers different ways in which an investor can interact with the platform. Bettors have various fair and transparent games to play, the ILP capital provider can inject liquidity into the system, and an IBET staker can earn yields from the platform growth.
  • Growth Plans: The project plans to include the integration of on-chain sportsbooks, additional games, prediction markets, and lotteries. Such plans can significantly improve the platform’s appeal and potentially increase its user base.
  • Backed by Experienced Professionals: InsanityBets has been developed by Insanity Labs, which is a group of veteran professionals specializing in gambling and blockchain. It provides support to help existing third-party developers interact effectively with the protocol. Such resources and support make InsanityBets one of the top betting platforms in the DeFi casino industry.

InsanityBets Price Prediction – What is $IBET’s Potential?

The global online gaming market is on an uptrend and is expected to continue to grow exponentially. This growing market trend can help InsanityBets see a surge in demand in the coming years.

Moreover, the limited supply cap of 5 billion $IBET tokens (with 50% available during the presale) creates scarcity. As the platform gains traction, this limited supply could drive up the token’s value, especially if the platform’s user base and transaction volumes increase.

It is also worth noting that the project offers attractive yields with multiple staking options ($sIBET, $esIBET, $bIBET, and many incentives to retain the tokens to the holders). The token’s circulation supply may decrease as more users participate in staking and burning.

Also, the InsanityBets DAO is designed to give users a sense of ownership. Since decentralized platforms rely on power from the community, a strong community could increase the token price. For more details read our InsanityBets price prediction for 2024 – 2030.

Conclusion

InsanityBets is a popular platform in the CasinoFi and GameFi sectors that offers a decentralized and transparent betting experience. It offers a platform where users play and become part of the house, earning from gameplay losses through its unique $ILP contract.

This article offered a step-by-step guide on how to Buy InsanityBets. Early investors can buy $IBET tokens for only $0.0015 at press time. This price will rise during expected exchange listings in the coming weeks.

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Michael Graw
Editor

Michael Graw is an experienced writer in the business and B2B tech fields. His articles can be found on Business Insider, Entrepreneur, Tom’s Guide, and TechRadar, and cover everything from corporate finance to crypto and international tech regulation. A prolific copywriter and entrepreneur, Michael has worked with a wide range of SaaS and tech companies and has his finger firmly on the pulse of B2B tech and finance.