Let.Bet Review – Login, Register, How it works, Ico, Token Sale, Buy, letbet
LetBet is an online gambling platform that aims at providing a trustless, borderless, secure, anonymous and fast online gambling platform with zero fee, seamlessly for all participants in a typical online gambling system powered by the LBT blockchain.
Letbet’s domain Let.Bet was privately registered on the 19th day of of November, 2017. There is no information on the owner or the admins of this website though some persons were named as “Our team”
Most of it’s website’s traffic flows from Japan and Vietnam. Any platform that fails to provide the details or information about it’s owners or admins should be followed with caution.
According Let.bet, “The LetBet concept is unique – P2P SMART CONTRACT
Unlike others, it’s not just a P2P Smart Contract-Based Game, but that which is customized to suit the online gambling industry in a way that will simultaneously service third party online gambling developers, and the end-users (players).
With our P2P smart contract, from the time when the game was initiated, through to the point where your result is seen and funds remitted, you remain anonymous and secure through a smart contract with the blockchain system.”
The platform’s Initial Coin Offering (ICO) for crowdsale is ongoing now.
According to the platform, their Vision is ” To provide a trustless, borderless, secure, and fast online gambling platform powered by blockchain.
The end users (players) are central to the LetBet system. Hence all game would be written in the smart contract, where no-one could control the game. We provide a fair and sufficiently randomise game for every player.
Our platform extends to developers who are interested in bringing along their business model through our platform; and bookmakers to join and build a new online gambling platform that is trustless, borderless, secure, fast and powered by blockchain.
And the most important part is that our blockchain is not limited to online gambling, it can be used for many other purposes. It is, like all other blockchains, a completely open source, free and secure hyperledger that can be used to host a variety of other products.”
How can I participate in the ICO?
To participate in the ICO, you would need to follow the steps below:
- Signup to our whitelist
- Create your own wallet, update your address on ICO site
- (Optional) Request bonus (0.1LBT) to make sure your address is working well
- Deposit BTC or ETH to your wallet (during the ICO, you could buy LBT using your BTC or ETH)
LBT wallet is an open-source & client-side tool. You could use the cloud-based version https://wallet.let.bet or download and use it locally.
Here are the steps to create a wallet on https://wallet.let.bet
- Select [NEW WALLET] in the main menu on the top.At this step, you will be asked for entering a password which is used to unlock your wallet.
- Your password must be at least 8 characters in length
- Click [Create New Wallet] to create your wallet.
- If your wallet is created successfully, you can see the address and private key of your wallet.
- Due to the fact that we won’t keep any information about your wallet, So there are some important notes you should keep in mind.
- We cannot recover or restore your wallet in case of losing your private key by any means.
- Backup! Backup your wallet.
- In order to backup your wallet, you either can keep your raw private key in somewhere or download encrypted private key as a json file by clicking [Save Encrypted Wallet]
The fact is that there is no other verifiable source of income entering LetBet except new affiliate investment and using funds from new affiliates to pay old affiliates makes a scheme a Ponzi scheme.
Ponzi schemes wind up once there is a decline in the number of new affiliates.