Are all crypto gambling charges expensive when it comes to USDT? - page 4.

Oshosondy

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Quote from: gunhell16 on September 08, 2022, 11:38:53 PM

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.

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.

Coin_trader

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Quote from: gunhell16 on September 09, 2022, 12:20:50 AM

Quote from: Coin_trader on September 08, 2022, 11:52:41 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

Hehe no worries. I do overlook it sometimes since the symbol is almost identical to each other. But I still wonder why casino still accepts ERC20 tokens while there’s a counterpart token on different blockchain that offer much lower transaction fee. Using ERC20 is useless for gambling purposes except for whales that has huge amount of bankroll that can do it in one transaction.

But for the record. All gambling site charge flat rate for ERC20 mate. Make sure to always double check the network before you withdraw.

adzino

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Quote from: gunhell16 on September 09, 2022, 12:20:50 AM

Quote from: Coin_trader on September 08, 2022, 11:52:41 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 is because ERC20 transactions are super expensive + I guess the casino keeps a small fees during withdrawal. We need to wait for ETH 2.0 and then the sharding which will reduce the costs of transactions.

TRC20 transactions are cheap like others said, but they should have also mentioned that its a different network. So make sure wherever you are withdrawing it does support TRC20 network and tokens or your coins are going to be lost forever. If you send a TRC20 token to a ERC20 network, highly likely you will loose your funds.

gunhell16

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Quote from: Coin_trader on September 08, 2022, 11:52:41 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

Coin_trader

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Activity: 2688

Merit: 1145

Leading Crypto Sports Betting & Casino Platform

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.

Yogee

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Transaction fees are still high for erc-20 tokens and not just for USDT so it's natural that they charge higher withdrawal fee too. Change network to TRC-20 and you'll see a lot less fee. I'm guessing it's around $1 or less.

....

I checked etherscan's estimate for USDT transfers and the highest priority is only $1.17. That means the platform currently charging you $15 more. Gas price on Ethereum fluctuates like crazy so the casino's wallet provider must have overestimated it for good measure. I guess it's what you get for using centralized platforms.

gunhell16

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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?

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