Are all crypto gambling charges expensive when it comes to USDT?

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Quote from: Oneandpure on September 11, 2022, 12:11:21 PM

Depending with transaction fees trough USDT maybe all gambling cryptocurrency support only using ethereum network, but nowadays Gas fees transaction have down and still adopt with bigger converted or fees by cryptocurrency gambling. Usually I use another coins for withdrawing like tron coin or TRX when active gambling on some gambling cryptocurrency without any fees yet. Some time when I withdraw on gambling cryptocurrency support by TIPS like Stake cryptocurrency gambling without have to pay fees, but lower values than exchange market because I sold to my friend become exchange for Stake cryptocurrency withdrawing.

If you want less fees transaction better use TRX, Doge coin or Litecoin then you can convert your fund in Binance exchange market to be USDT, looks effective and lower fees than you use directly USDT for withdrawing in your cryptocurrency gambling.

Yes me too, I only use TRX or tron in withdrawing my funds, it is quite better than usdt. Every singe cents I am winning in gambling is very much important to me, I already tried to withdraw using usdt but the fee is expensive, that's why either TRX or XRP is what I am using to exchange it in cex. I think I also try ada once I forgot the other coin I am using and then I am sending it to binance.

Well it's all about looking for the best economy, whenever we play in a casino we look for ways to lower withdrawal costs, and it's not only something that one looks for, most people look for this without hesitation, of course now almost no There is a lot of talk because everyone is pending KYC, and the fees do not matter much, when it is USDT they are not that expensive, at least in Binance they only cost 1 usdt per transaction, but when it comes to casinos it depends, some casinos like bitcasino.io withdrawals are assumed by the same platform, when we go to withdraw at stake.com it is very little around 7 thousand sats.

entebah

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i think only Stake.com that have a very low withdrawal fee for USDT because they charge only 1 USDT/withdraw on ETH/BSC/Matic Network
while other casino have higher than that

gunhell16

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Quote from: livingfree on September 10, 2022, 05:35:51 PM

@OP

I guess you have already that much suggestion from everyone and there has been solution has been said on how you'll save fees from withdrawing your funds there.

And the purpose of the thread prolly has served it. As you have noticed that trc20 is way cheaper than erc20 and that could be already enough to start locking the thread.

You are right there Sir, so I am happy and grateful to those who gave suggestions about the topic I made here, and in my opinion, it helped not only me but also other forum members here who do not yet know if they are more can save when it comes to the deposit or withdrawal transaction they want to do if they are also a gambler who wants to play crypto gambling.

This is also additional knowledge for me and an idea for others who want to further expand their idea about crypto gambling that will save the charge when entering funds into the gambling platform.

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Quote from: Oneandpure on September 11, 2022, 12:11:21 PM

Depending with transaction fees trough USDT maybe all gambling cryptocurrency support only using ethereum network, but nowadays Gas fees transaction have down and still adopt with bigger converted or fees by cryptocurrency gambling. Usually I use another coins for withdrawing like tron coin or TRX when active gambling on some gambling cryptocurrency without any fees yet. Some time when I withdraw on gambling cryptocurrency support by TIPS like Stake cryptocurrency gambling without have to pay fees, but lower values than exchange market because I sold to my friend become exchange for Stake cryptocurrency withdrawing.

If you want less fees transaction better use TRX, Doge coin or Litecoin then you can convert your fund in Binance exchange market to be USDT, looks effective and lower fees than you use directly USDT for withdrawing in your cryptocurrency gambling.

If you are a gambler like OP that is withdrawing his funds on the minimum withdrawal, Surely the fees he will be having is high if we consider the minimum withdrawal of the casino. Even if the withdrawal fee of ERC-20 tokens is pretty low nowadays, Still I think it's a small portion from the the total withdrawal. I also use low fee coins like TRX and DOGE on small time gambling sessions like when I am testing a new casino, We want to avoid or lessen the fees we are paying because the amount of value we are withdrawing is somewhat pretty low.

Oneandpure

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Depending with transaction fees trough USDT maybe all gambling cryptocurrency support only using ethereum network, but nowadays Gas fees transaction have down and still adopt with bigger converted or fees by cryptocurrency gambling. Usually I use another coins for withdrawing like tron coin or TRX when active gambling on some gambling cryptocurrency without any fees yet. Some time when I withdraw on gambling cryptocurrency support by TIPS like Stake cryptocurrency gambling without have to pay fees, but lower values than exchange market because I sold to my friend become exchange for Stake cryptocurrency withdrawing.

If you want less fees transaction better use TRX, Doge coin or Litecoin then you can convert your fund in Binance exchange market to be USDT, looks effective and lower fees than you use directly USDT for withdrawing in your cryptocurrency gambling.

passwordnow

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Quote from: goaldigger on September 10, 2022, 04:45:58 PM

Quote from: passwordnow on September 10, 2022, 04:33:45 PM

Quote from: Johnyz on September 10, 2022, 04:12:16 PM

Many prefer to gamble with LTC as well because it is still cheap and it’s network is good as well. You can aslo add to the list doge especially on a site where it’s accepted. Many site offers a lot of crypto to be used on their platform, better to known it first and choose what’s the cheapest network to deal with, Erc20 for gambling is not good at all because of the expensive fees. Choose what is more convenient for you that can work for you.

It's cheap and fast, it's like a lowkey in terms of speed and fee and that's why I still use it for some transfers that I do, whether it'll be from exchanges or a casino or just simple transfers. That's the purpose of these casinos for having various support for different cryptocurrencies, so that their customers will have that confidence wherever they want to gamble, deposit, and withdraw for our own's sake of having that low fee per deposit and withdrawal we do.

It’s always good to have alternatives, I don’t use BTC and USDT for my gambling activities, I still find them expensive as well and most of the time LTC is my choice for a cheaper fees. If you are playing on a site that offers a limited accepted crypto, I guess it will be hard for you to deal with those fees but if it’s ok for you, then it’s your choice after all. Erc20 is still expensive to transact, this has been the problem for that network that ETH can’t still make any solution on that.

In USDT, there's the choice to make it cheaper in fees through trc20. Only if that casino where you're playing has that protocol and choice but if not, then just stick to LTC as it's underrated to have that cheap fee and speed.
And if you're on those casinos that don't support either, then you just have to stick with the reality and just withdraw looking at the fee accepting that you have no choice.

Saisher

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Quote from: gunhell16 on September 08, 2022, 11:20:50 PM

Quote from: Coin_trader on September 08, 2022, 10:52:41 PM

Base on your screenshot, This is normal for ERC20 tokens since it has a huge transaction fee around 4-5$. It will be inefficient to allow withdrawal that almost 50% of the transaction amount will be the fee. Ethereum tokens has an insane transaction which is the reason why they set minimum withdrawal for that specific tokens.

Use TRC20 network instead if you want to save fee because all tokens that runs on Ethereum blockchain has that kind of huge fee. Does TRC20 USDT has same min withdrawal amount? Other Casino typically set 5$ min. withdrawal amount for TRC20 USDT.

Yes, I didn't notice that right away Sir, I should choose the TRC20 network because its transaction fee is only 11 TRX, it's only around 0.6$-0.7$.

Because I play on this gambling platform most of the time, I can't gamble here using usdt because all I saw was 19$ but I didn't notice that it was ERC20 that's why it's expensive.

Anyway, thank you sir for saying that, I was just thinking about a lot of problems so maybe I didn't notice it right away. God bless you and have a nice day. Cheesy

It's an honest mistake not really a mistake but confusion sometimes I also get confused using a stablecoin when you are used to using an ERC 20 chain on stablecoin you'll think that USDT is only on ERC20, but the scenario is different if they only have ERC20 you have no chance but to withdraw with a very high transaction fee, that is why you should not only aware of the rules of the casinos but also on what coins, tokens and available chains that they re offering for withdrawals.

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Quote from: gunhell16 on September 08, 2022, 10:38:53 PM

-snip

Transactions that is performed in the ethereum network or erc-20 always charge atleast 5$ fee or even more depending on the traffic at that time. Based on the image, the USDT on that platforms also support tron network which uses low fee. There are other alternatives too that runs on a network that have lesser fees like DOGE, MATIC ,and SOL so those are good option too if a gambling platform allows that cryptocurrency.

If you don't want to use high transfer fees, you have to use altcoins, one of which is TRX, EOS and XLM, but it all depends on the gambling place you use, because not all gambling places have the option of making transactions using altcoins, but currently the gas fee for ethereum is very low so the transaction fee using erc-20 should be less than $5.

livingfree

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@OP

I guess you have already that much suggestion from everyone and there has been solution has been said on how you'll save fees from withdrawing your funds there.

And the purpose of the thread prolly has served it. As you have noticed that trc20 is way cheaper than erc20 and that could be already enough to start locking the thread.

serjent05

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Quote from: goaldigger on September 10, 2022, 04:45:58 PM

Quote from: passwordnow on September 10, 2022, 04:33:45 PM

Quote from: Johnyz on September 10, 2022, 04:12:16 PM

Many prefer to gamble with LTC as well because it is still cheap and it’s network is good as well. You can aslo add to the list doge especially on a site where it’s accepted. Many site offers a lot of crypto to be used on their platform, better to known it first and choose what’s the cheapest network to deal with, Erc20 for gambling is not good at all because of the expensive fees. Choose what is more convenient for you that can work for you.

It's cheap and fast, it's like a lowkey in terms of speed and fee and that's why I still use it for some transfers that I do, whether it'll be from exchanges or a casino or just simple transfers. That's the purpose of these casinos for having various support for different cryptocurrencies, so that their customers will have that confidence wherever they want to gamble, deposit, and withdraw for our own's sake of having that low fee per deposit and withdrawal we do.

It’s always good to have alternatives, I don’t use BTC and USDT for my gambling activities, I still find them expensive as well and most of the time LTC is my choice for a cheaper fees. If you are playing on a site that offers a limited accepted crypto, I guess it will be hard for you to deal with those fees but if it’s ok for you, then it’s your choice after all. Erc20 is still expensive to transact, this has been the problem for that network that ETH can’t still make any solution on that.

Yeah, it's been ages since I start avoiding transactions in ETH. I other cryptocurrency as long as it is not an ERC20. Actually, I have lots of ERC20 tokens that is unmoved because of high gas fee. So I still wonder why ETH is still in demand when there are lots of alternative cryptocurrencies out there that can offer cheaper transaction fees with more advanced technology. The heck, even Bitcoin transaction fees is way cheaper than ETH.

XRP, Matic also offers cheap gas/transaction fee and have fast confirmation, BNB too, and any other token that uses TRC20, and BSC20 chains offer a very cheap gas fee.

darkangel11

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I avoid usdt because I don't trust it and when it comes to gambling sites I use onl those that charge me normal fees based on sites like bitcoinfees.earn.com. When I see the site tries to cheat by putting additional fees on top of network fees I don't use them. It's really simple the same way you don;'t go to expensive stores when you can buy the same things online.

Some site will try to cheat you, it's to be expected.

PX-Z

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This is about the required network fees not the platform but they can just always add some ^{(if fees are fixed in usd rate)}.
Also, in any platform that requires to send erc20 tokens fees are really high, it's considered as a feature not a problem anymore for erc20 tokens /s.

By the look of it, you can change to trc20 token to save fees, or other alternatives should be checked before proceeding.
Though you are in a gambling platform but why you need to withdraw the minimum? Bet it til you win big enough to not worry about the withdrawal fees

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Quote from: goaldigger on September 10, 2022, 04:45:58 PM

It’s always good to have alternatives, I don’t use BTC and USDT for my gambling activities, I still find them expensive as well and most of the time LTC is my choice for a cheaper fees. If you are playing on a site that offers a limited accepted crypto, I guess it will be hard for you to deal with those fees but if it’s ok for you, then it’s your choice after all. Erc20 is still expensive to transact, this has been the problem for that network that ETH can’t still make any solution on that.

Alternatives are very important you would not want to withdraw where the only option is an ERC20 coin, you'll basically give miners a huge part of your earnings, if its only small earnings like what OP mentioned, so far all the casinos I'm playing deposits and withdrawals are all on Binance, TRC and sometimes Doge, if you're a whale then you don't mind withdrawing with ERC20 with very high fees, but we are only small players so options and alternatives are important.

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Quote from: passwordnow on September 10, 2022, 04:33:45 PM

Quote from: Johnyz on September 10, 2022, 04:12:16 PM

Many prefer to gamble with LTC as well because it is still cheap and it’s network is good as well. You can aslo add to the list doge especially on a site where it’s accepted. Many site offers a lot of crypto to be used on their platform, better to known it first and choose what’s the cheapest network to deal with, Erc20 for gambling is not good at all because of the expensive fees. Choose what is more convenient for you that can work for you.

It's cheap and fast, it's like a lowkey in terms of speed and fee and that's why I still use it for some transfers that I do, whether it'll be from exchanges or a casino or just simple transfers. That's the purpose of these casinos for having various support for different cryptocurrencies, so that their customers will have that confidence wherever they want to gamble, deposit, and withdraw for our own's sake of having that low fee per deposit and withdrawal we do.

It’s always good to have alternatives, I don’t use BTC and USDT for my gambling activities, I still find them expensive as well and most of the time LTC is my choice for a cheaper fees. If you are playing on a site that offers a limited accepted crypto, I guess it will be hard for you to deal with those fees but if it’s ok for you, then it’s your choice after all. Erc20 is still expensive to transact, this has been the problem for that network that ETH can’t still make any solution on that.

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Quote from: gunhell16 on September 10, 2022, 12:37:50 AM

Quote from: serjent05 on September 09, 2022, 04:16:18 PM

Quote from: gunhell16 on September 08, 2022, 10:38:53 PM

..snipped

Lol, you always have another chain as an alternative. Everyone here knows that the price of ETH gas fee is very expensive, so if you happen to click the TRC 20 tab, you will see the difference in withdrawal fee charges. Actually, you are a click away from discovering that a different network has a different fee. Seriously, you should have known this fact since you have been in the industry for years now.

I just didn't notice right away why the transaction fee is 19$, that's why when @coin-trader said that I must set it in TRC20, I just realized that it was set in ERC20, so its expensive because I'm thinking about hours I always only see the 19$ but I didn't immediately notice that the network is ERC20.

I admit my mistake, sir, maybe because I was thinking so much, I didn't really notice that I should have set it to TRC20 first so that the charge is cheap.

There may be advice of "think before you click," but there are some instances that you need to click before you think Grin

. Just like in your case. If you happen to click the TRC20 tab, then you could have saved yourself from thinking too much about how high the fee is on that casino. In fairness with the casino, they have several options to withdraw your fund, even they have an internal exchange where you can exchange your cryptocurrency to another kind of cryptocurrency with a commission rate of 4.9% a 0.1% lower than some of the Casino that offers internal exchanges.

passwordnow

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Quote from: Johnyz on September 10, 2022, 04:12:16 PM

Many prefer to gamble with LTC as well because it is still cheap and it’s network is good as well. You can aslo add to the list doge especially on a site where it’s accepted. Many site offers a lot of crypto to be used on their platform, better to known it first and choose what’s the cheapest network to deal with, Erc20 for gambling is not good at all because of the expensive fees. Choose what is more convenient for you that can work for you.

It's cheap and fast, it's like a lowkey in terms of speed and fee and that's why I still use it for some transfers that I do, whether it'll be from exchanges or a casino or just simple transfers. That's the purpose of these casinos for having various support for different cryptocurrencies, so that their customers will have that confidence wherever they want to gamble, deposit, and withdraw for our own's sake of having that low fee per deposit and withdrawal we do.

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Quote from: gunhell16 on September 08, 2022, 11:20:50 PM

Because I play on this gambling platform most of the time, I can't gamble here using usdt because all I saw was 19$ but I didn't notice that it was ERC20 that's why it's expensive.

Until they resolve the very high transaction fee I shifted to TRC20 and Binance chain and I never play on casinos that only have the ERC20 chain, never imagine that time will come when ERC20 will incur very high fees to all of its users only whale will use that option when I first play on casinos USDT fees only incur a few cents in ERC20, but I'm hoping that in the future the fees will go back to when it was before, so we'll have the option to withdraw ERC20 based token

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Quote from: gunhell16 on September 08, 2022, 10:38:53 PM

-snip- I noticed that when it comes to the withdrawal transaction using USDT, the transaction is 19$ while the minimum withdrawal is 15$ The arrival seems silly, which in fact for an ordinary gambler is too high or too expensive for me.

Just change the network to TRC-20, the transfer fee should be $1. If you withdraw 15$, you can get 14$ to the destination wallet.
Is it your first time withdrawing USDT from a gambling site? If you are already quite familiar with withdrawal on gambling sites, you should understand that there is a way to change the transfer fees. And the cheapest network to transfer USDT is TRC-20. Every gambler must know it.

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Quote from: Doell on September 10, 2022, 03:18:25 PM

On the first page OP case was resolved very quickly, this community is a great. I personally don't use usdt to gambling, besides the high of fees on the erc20 network, aslo usdt is not profitable for me to keep in my wallet for a long time. I am also as surprised as you, last year when I use ethereum to gambling because it is on the same ship erc20, of course usdt is also same expensive about withdraw fees. It's better for me to use ltc or dash, rather than usdt token.

Many prefer to gamble with LTC as well because it is still cheap and it’s network is good as well. You can aslo add to the list doge especially on a site where it’s accepted. Many site offers a lot of crypto to be used on their platform, better to known it first and choose what’s the cheapest network to deal with, Erc20 for gambling is not good at all because of the expensive fees. Choose what is more convenient for you that can work for you.

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Quote from: maydna on September 10, 2022, 06:15:38 AM

Litecoin has been my alternative for a long time besides dogecoin for depositing and withdrawing my money. With lower transaction fees than other coins like ethereum or even bitcoin, it can make Litecoin one of the favorite coins of many gamblers.

There may be an opportunity for ETC to be used as one of the coins to gamble on, and if this is implemented, it may be one of the triggers for the coin ETC to increase. We gamblers look for the coins we want and often differ from what others use.

Litecoin is like the silver version of bitcoin, no wonder why it's the popular choice next to bitcoin. Don't forget guys that aside from the cheap fees, litecoin is also a fast moving coin. No more boring times waiting for deposits to arrive before you play in a casino. I don't know what is that etc you guys are talking about but let me take a guess, was it ethereum classic?

Judging by its name, this coin might be a fork of the original ethereum just like bch which also a fork of bitcoin though I rarely saw this coin on most gambling sites but I think b.c game have this since b.c game do also list weird coins which are not really that popular.

Topic: Are all crypto gambling charges expensive when it comes to USDT? (Read 614 times)