Topic: Are all crypto gambling charges expensive when it comes to USDT? - page 2. (Read 614 times)
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.
September 10, 2022, 02:12:46 PM
Well, transaction fee depends on the network website uses for processing withdrawal. Stake has added USDT recently and it was $5 fixed fee per withdrawal but after recent wallet upgrades, users can choose 3 networks for withdrawing USDT with $1 fixed fee. Casinos should stop expecting profit from transaction fees, they make enough with house edge, IMO
Yes I agree with you but I don't think they've lowered the fees by themselves. Because after adding the alternative networks, fees for withdrawing USDT were still at 5$ for any network. It's only after few people and me have talked about these shocking fees on their thread, they've lowered them to 1$. Many casinos don't take any fees for withdrawals, I think it should be a standard in the industry.Casinos usually just use the amount recommended by some block explorers that will almost always confirm the transaction in the next block, hence why a lot of them are asking for those insane amount of fees. I'd go even farther and say that once they have coded that fee amount on their withdrawal page, they'd certainly never change it, unless the fee becomes too low for transactions to confirm immediately. It would be best if withdrawal fees on casinos are not fixed amounts but rather dynamic too and is done through APIs or whatever tech they can use, but I guess it's too much work and maintenance for them.
September 10, 2022, 02:02:24 PM
Well, transaction fee depends on the network website uses for processing withdrawal. Stake has added USDT recently and it was $5 fixed fee per withdrawal but after recent wallet upgrades, users can choose 3 networks for withdrawing USDT with $1 fixed fee. Casinos should stop expecting profit from transaction fees, they make enough with house edge, IMO
Yes I agree with you but I don't think they've lowered the fees by themselves. Because after adding the alternative networks, fees for withdrawing USDT were still at 5$ for any network. It's only after few people and me have talked about these shocking fees on their thread, they've lowered them to 1$. Many casinos don't take any fees for withdrawals, I think it should be a standard in the industry. 
September 10, 2022, 06:56:51 AM
If that's TRC20 USDT, you don't have to pay a high fee. I'm more comfortable on using xrp as the transaction fee is cheap and based on my experience it's the fastest. Crypto gambling si really expensive if you keep withdrawing and your gambling with a small amount of money only, it gives comfort to those who gamble a decent amount as transaction fees are just nothing for them.
September 10, 2022, 06:46:41 AM
For me the easiest way to play in crypto gambling is with Litecoin,the fees of this coin are extremely cheap considered to many other alternatives and this is a coin which is widely accepted in most reputable casinos,as there is also ETC for super cheap fees but is not yet that popular in different reputable casinos.This of course will change extremely soon as now that just a few days remains before Eth price goes dramatically down after the mining ends,many will switch to ETC so the smart casinos will promptly implement it.
As for Erc-20 tokens fees,those have been huge since early 2021 if I remember correctly.
As for Erc-20 tokens fees,those have been huge since early 2021 if I remember correctly.
Many fairly well-known crypto-enthusiasts believe that ETH after Merge will only rise in value because ETH will become more deflationary. Therefore, your statement is debatable. Miners will switch to algorithms that will bring more profit, and ETC is currently in 10th place in terms of profitability - https://whattomine.com.
Also, casinos are more likely to support ETH POS than ETC.
September 10, 2022, 06:15:38 AM
For me the easiest way to play in crypto gambling is with Litecoin,the fees of this coin are extremely cheap considered to many other alternatives and this is a coin which is widely accepted in most reputable casinos,as there is also ETC for super cheap fees but is not yet that popular in different reputable casinos.This of course will change extremely soon as now that just a few days remains before Eth price goes dramatically down after the mining ends,many will switch to ETC so the smart casinos will promptly implement it.
As for Erc-20 tokens fees,those have been huge since early 2021 if I remember correctly.
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.As for Erc-20 tokens fees,those have been huge since early 2021 if I remember correctly.
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.
September 10, 2022, 05:19:44 AM
For me the easiest way to play in crypto gambling is with Litecoin,the fees of this coin are extremely cheap considered to many other alternatives and this is a coin which is widely accepted in most reputable casinos,as there is also ETC for super cheap fees but is not yet that popular in different reputable casinos.This of course will change extremely soon as now that just a few days remains before Eth price goes dramatically down after the mining ends,many will switch to ETC so the smart casinos will promptly implement it.
As for Erc-20 tokens fees,those have been huge since early 2021 if I remember correctly.
As for Erc-20 tokens fees,those have been huge since early 2021 if I remember correctly.
September 10, 2022, 03:26:23 AM
I'm just one of the crypto gamblers who often play and although I often always lose and have never experienced winning a large amount, my only question is that I have a gambling platform that I entered to play with predictions while having fun and just in case Good luck, 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. For example, if I want to withdraw the minimum amount of this gambling platform, it will appear that I have to add 4$ and it will also appear that I have not withdrawn anything.
But for other cryptocurrencies that you buy here on this platform such as dogecoin, the transaction fee is only 5 doge deducted, my question is, are most of the cryptocurrency gambling platforms when it comes to usdt withdrawal, are they this expensive is deducted from the transaction
as you can see in the picture?
They might not tell you, but there are policies of some companies to discourage a payment mode, which is what I can only infer from your explanation. They might include USDT in their adverts but in practice, they will make it unbearable/stringent to use on their platform. This is highly possible if the companies are covering for the transaction when you withdraw as part of the pecks to attract players. But for other cryptocurrencies that you buy here on this platform such as dogecoin, the transaction fee is only 5 doge deducted, my question is, are most of the cryptocurrency gambling platforms when it comes to usdt withdrawal, are they this expensive is deducted from the transaction
as you can see in the picture?
Well, you are informed now, it's not wise to continue with USDT anymore when you have better options. You can always exchange back to USDT after the withdrawal if you so desire.
September 10, 2022, 02:53:44 AM
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.
Next time, you better double-check before withdrawing your money and see how much the transaction fee will be.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.
Sometimes, we are in such a hurry that we don't double-check everything and just hit the withdrawal button, which costs us huge transaction fees.
Using the TRC20 network reduces transaction costs compared to using the ERC20 network, so it will save you in paying transaction fees.
This is also a useful lesson always to check before we press the withdrawal button and, most importantly, make sure our wallet address is correct.
September 10, 2022, 01:14:58 AM
How many crypto casinos you have used in the past? Maybe that number is too low because on some casinos that I tried their fees are only cheap including in usdt withdrawals but of course, that must be in trc20 network and not in erc20 as we all know that eth have undergone in a fee issues lately.
You have used a crypto casino that has low fee for USDT ERC20 is the question here? Try and check the OP very well and check the image very well too. What people are concluding to is that using Tron network for the USDT withdrawal would be with cheap fee which is what is correct.
In the OP's pic, the fees for trc20 usdt withdrawal is 19. I supposed that was in trx as well because it also says that the minimum withdraw is 15 usdt so if a player withdraws only a minimum amount which is 15 usdt and he will be charged by 19 usdt, then there will be nothing left for him but he still owes the casino of 4 usdt. 19 trx isn't that expensive but it's like 1 usd.
No, do not get that wrong with the light yellow colour for TRC20 which look like the network selected, check the network written under, it is ERC20, which means the network selected is ERC20. Withdrawing USDT TRC20 would be of low fee. September 10, 2022, 01:03:42 AM
are most of the cryptocurrency gambling platforms when it comes to usdt withdrawal, are they this expensive is deducted from the transaction
as you can see in the picture?
Yes, it is like that in all the crypto gambling sites that I have used before, it is because they are supporting USDT on ethereum blockchain, just like others have said. as you can see in the picture?
But there are few gambling sites that you can withdraw USDT using cheap fee blockchain like Tron blockchain, USDT fee would be cheap if it is TRC20.
I like most gambling sites, they give varieties of option when it comes to withdrawal. I do use Litecoin, most if the gambling sites support Litecoin which I always prefer because of its low fee.
In the OP's pic, the fees for trc20 usdt withdrawal is 19. I supposed that was in trx as well because it also says that the minimum withdraw is 15 usdt so if a player withdraws only a minimum amount which is 15 usdt and he will be charged by 19 usdt, then there will be nothing left for him but he still owes the casino of 4 usdt. 19 trx isn't that expensive but it's like 1 usd.
September 10, 2022, 12:37:50 AM
I'm just one of the crypto gamblers who often play and although I often always lose and have never experienced winning a large amount, my only question is that I have a gambling platform that I entered to play with predictions while having fun and just in case Good luck, 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. For example, if I want to withdraw the minimum amount of this gambling platform, it will appear that I have to add 4$ and it will also appear that I have not withdrawn anything.
But for other cryptocurrencies that you buy here on this platform such as dogecoin, the transaction fee is only 5 doge deducted, my question is, are most of the cryptocurrency gambling platforms when it comes to usdt withdrawal, are they this expensive is deducted from the transaction
as you can see in the picture?
But for other cryptocurrencies that you buy here on this platform such as dogecoin, the transaction fee is only 5 doge deducted, my question is, are most of the cryptocurrency gambling platforms when it comes to usdt withdrawal, are they this expensive is deducted from the transaction
as you can see in the picture?
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.
September 09, 2022, 09:39:35 PM
I'm just one of the crypto gamblers who often play and although I often always lose and have never experienced winning a large amount, my only question is that I have a gambling platform that I entered to play with predictions while having fun and just in case Good luck, 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. For example, if I want to withdraw the minimum amount of this gambling platform, it will appear that I have to add 4$ and it will also appear that I have not withdrawn anything.
But for other cryptocurrencies that you buy here on this platform such as dogecoin, the transaction fee is only 5 doge deducted, my question is, are most of the cryptocurrency gambling platforms when it comes to usdt withdrawal, are they this expensive is deducted from the transaction
as you can see in the picture?
But for other cryptocurrencies that you buy here on this platform such as dogecoin, the transaction fee is only 5 doge deducted, my question is, are most of the cryptocurrency gambling platforms when it comes to usdt withdrawal, are they this expensive is deducted from the transaction
as you can see in the picture?
I believe the main culprit for this high tax is the mining rate of the Ethereum network.
As much as the site still consolidates multiple user withdrawals into a single transaction, the Ethereum network's fees are much higher than Dogecoin's.
For high amounts it can be advantageous to withdraw in USDT and save on exchange trading fees, but for low amounts it's better to withdraw to some low fee altcoin from your favorite exchange and then convert to Bitcoin.
September 09, 2022, 08:15:03 PM
If the casino has an internal exchange, you have the option to just trade it to a low transaction fee coin like TRX or XRP. It's why it's best to pick a casino with this feature before depositing.
Not every casino has it. But if you deposit that USDT(ERC) too, you should know as well that the network fee is high. You pay high in depositing and high in withdrawing them.
Not every casino has it. But if you deposit that USDT(ERC) too, you should know as well that the network fee is high. You pay high in depositing and high in withdrawing them.
September 09, 2022, 06:44:57 PM
That's networked and protocol based since it's erc20.
That's really a network that's high in fees currently and that's why if there are other networks where you can choose if they're allowing it, choose the other network protocols for USDT like TRC20.
Since it's been known one of the cheapest.
That's really a network that's high in fees currently and that's why if there are other networks where you can choose if they're allowing it, choose the other network protocols for USDT like TRC20.
Since it's been known one of the cheapest.
September 09, 2022, 06:40:10 PM
Well, transaction fee depends on the network website uses for processing withdrawal. Stake has added USDT recently and it was $5 fixed fee per withdrawal but after recent wallet upgrades, users can choose 3 networks for withdrawing USDT with $1 fixed fee. Casinos should stop expecting profit from transaction fees, they make enough with house edge, IMO
Casinos should really not make any commission from those fees, those are just small amount but for the gambler it’s already big. Looking at the example of OP, ERC20 is still an expensive network as of the moment and not a good choice especially if you have the alternative network to choose from. TRC20 network is the cheaper option for USDT, if you have that option in the site better to use this instead.this is not true for all casinos, just like what the OP gave as an example, even if the USDT is under Tron network, the fee is still expensive. so it depends on the casino and how much they are charging for fees. lucky if they have internal exchange and you can convert first your money to other alts with cheaper fees like LTC or TRX. some big casinos are already charging small fees for withdrawal. so if you are a player who is very conscious about withdrawal fees, better check their fees before depositing your money.
September 09, 2022, 04:34:58 PM
Well, transaction fee depends on the network website uses for processing withdrawal. Stake has added USDT recently and it was $5 fixed fee per withdrawal but after recent wallet upgrades, users can choose 3 networks for withdrawing USDT with $1 fixed fee. Casinos should stop expecting profit from transaction fees, they make enough with house edge, IMO
Casinos should really not make any commission from those fees, those are just small amount but for the gambler it’s already big. Looking at the example of OP, ERC20 is still an expensive network as of the moment and not a good choice especially if you have the alternative network to choose from. TRC20 network is the cheaper option for USDT, if you have that option in the site better to use this instead. 
September 09, 2022, 04:16:18 PM
I'm just one of the crypto gamblers who often play and although I often always lose and have never experienced winning a large amount, my only question is that I have a gambling platform that I entered to play with predictions while having fun and just in case Good luck, I noticed that when it comes to the withdrawal transaction using USDT, the transaction is 19$ 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. For example, if I want to withdraw the minimum amount of this gambling platform, it will appear that I have to add 4$ and it will also appear that I have not withdrawn anything.
But for other cryptocurrencies that you buy here on this platform such as dogecoin, the transaction fee is only 5 doge deducted, my question is, are most of the cryptocurrency gambling platforms when it comes to usdt withdrawal, are they this expensive is deducted from the transaction
as you can see in the picture?
But for other cryptocurrencies that you buy here on this platform such as dogecoin, the transaction fee is only 5 doge deducted, my question is, are most of the cryptocurrency gambling platforms when it comes to usdt withdrawal, are they this expensive is deducted from the transaction
as you can see in the picture?
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.
September 09, 2022, 03:56:57 PM
Its using up erc20 which it wouldnt be a surprising thing on why fee is really that high compared if it do use up Tron then it would really be just too cheap.
USDT could have these chains.
Ethereum
Tron
Algorand
Solana
Avalanche
Polygon
https://www.coindesk.com/learn/2022/06/01/what-is-tether-how-usdt-works-and-what-backs-its-value/
If there's some hover on what chain should be used then it would be always better on choosing the other option around.
USDT could have these chains.
Ethereum
Tron
Algorand
Solana
Avalanche
Polygon
https://www.coindesk.com/learn/2022/06/01/what-is-tether-how-usdt-works-and-what-backs-its-value/
If there's some hover on what chain should be used then it would be always better on choosing the other option around.
September 09, 2022, 03:38:47 PM
Each gambling website have their charge when you want to withdraw in their platform and secondly. Some of cryptocurrencies charge don't use to be high when you are withdrawing with some of the coins. I could remember the time i play with betnomi and the fees was high if you are withdrawing with bitcoin or Ethereum, but that time people who withdraw with other coins their charge's are lesser than the charge of Bitcoin and ethereum, so if the charge is expensive for the particular coin you are withdrawing with, you can change a coin and with other coin option, you notice the difference
Jump to: