Considering huge transaction fees, what coins to support on new gambling site?

Sanitough

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Quote from: Rengga Jati on December 04, 2021, 11:59:28 AM

Quote from: madnessteat on December 04, 2021, 10:05:28 AM

I would be happy to use Solana coins to deposit gambling sites, but unfortunately I have not met any site that would support SOL. In my opinion using ETH or BTC for deposit is a kind of charity for miners pocket since even wire transfer appears to be cheaper nowadays.

Solana is very interesting moreover with also very lower transaction fee.' However, this network is still newly very popular and attract so many interests from many parties. that is why gambling sites may still consider about using this.
Moreover they also have other options instead of ERC20, they are likely Tron, XRP, Doge, and also BSC
They commonly have lower transaction fees.
However, ensure that you must choose the right network because once you are wrong, your coins may be lost.

Though it's new in the market, it's already in the top 5 in the market, so they can list it since it has good liquidity with billions of dollars in trading volume, so it's easy for gamblers to trade their Solana coin when they want to cash out. Personally, I have not used SOL for my gambling needs yet, been using XRP for a while now.

DoublerHunter

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Quote from: KTChampions on December 04, 2021, 01:10:28 PM

Quote from: madnessteat on December 04, 2021, 10:05:28 AM

I would be happy to use Solana coins to deposit gambling sites, but unfortunately I have not met any site that would support SOL. In my opinion using ETH or BTC for deposit is a kind of charity for miners pocket since even wire transfer appears to be cheaper nowadays.

I think gradually all casinos will use the Solana blockchain. Many players prefer to play using stablecoins, and there are more than a billion USDTs in circulation on this blockchain, and this figure is likely to grow. I am sure that most of the problems with wallets and other things in this blockchain have already been eliminated and gradually everyone will start using it.

^ I think every coin that has a low transaction fee will be good to use in gambling because that is what they are looking for, for me before, XRP was the best altcoin when it comes transferring into the gambling casino because it has a faster transaction and is very cheap.
I don't know technically about Solana but I have heard that the blockchain network of this coin is not yet congested so I think any payment method is good in a non-congested coin. Not like BTC and ETH.

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Quote from: madnessteat on December 04, 2021, 10:05:28 AM

I would be happy to use Solana coins to deposit gambling sites, but unfortunately I have not met any site that would support SOL. In my opinion using ETH or BTC for deposit is a kind of charity for miners pocket since even wire transfer appears to be cheaper nowadays.

I think gradually all casinos will use the Solana blockchain. Many players prefer to play using stablecoins, and there are more than a billion USDTs in circulation on this blockchain, and this figure is likely to grow. I am sure that most of the problems with wallets and other things in this blockchain have already been eliminated and gradually everyone will start using it.

Silberman

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Quote from: Cling18 on December 04, 2021, 09:28:38 AM

Quote from: Vaskiy on April 04, 2021, 01:30:04 PM

When it comes to fund deposit on gambling, people never think about the fee and all. Most of the time users deposit fund on Gambling site when the user experience continued loss. To recover the loss the user makes deposit. This will be known by the sites and the deposits were confirmed faster with reduced transaction fee. Different users have different views, but in my experience When a gambler is depositing fund with the urge of recovering will never think about the transaction fee.

But if it's too high, it's already a big deal for most users especially for those who aren't big-time gamblers. I guess it's time to switch to other network if ETH fees are getting higher. They have told us that they would do something about ETH gas fees but I think they still didn't do anything to decrease it. For now, more users are switching to the BNB network.

The ethereum developers are doing the best they can to decrease how high the fees are, the problem is that this is not something easy to fix at all if we are talking about transactions on-chain, so until that happens, if it ever happens, then people need to begin to look for alternatives, one of the most popular coins to do this is dogecoin, dogecoin is famous for its cheap and fast transactions and it is accepted in many casinos, however since I do not believe it is a good coin to hold for the long term make sure you are only holding what you need in order to gamble and avoid being affected if the coin happens to crash.

Rengga Jati

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Quote from: madnessteat on December 04, 2021, 10:05:28 AM

I would be happy to use Solana coins to deposit gambling sites, but unfortunately I have not met any site that would support SOL. In my opinion using ETH or BTC for deposit is a kind of charity for miners pocket since even wire transfer appears to be cheaper nowadays.

Solana is very interesting moreover with also very lower transaction fee.' However, this network is still newly very popular and attract so many interests from many parties. that is why gambling sites may still consider about using this.
Moreover they also have other options instead of ERC20, they are likely Tron, XRP, Doge, and also BSC
They commonly have lower transaction fees.
However, ensure that you must choose the right network because once you are wrong, your coins may be lost.

Fortify

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Quote from: walrusbite on March 19, 2021, 11:32:46 PM

With fees so high, I'm wondering if big gamblers are switching from BTC/ETH to other options. Is there any data on what's being used? With limited options, what coins should a new platform consider supporting?

Edit: thanks for all the responses!

It's probably better to look at it strategically, either you're playing with fun money that you expect to lose so it shouldn't matter or you're playing with some kind of strategy in mind in which case you should look for sites that have a fixed fee so you're going to pay less as a percentage the more you win. Obviously you're very unlikely to make a lot of money long term playing a casino with fixed odds that favor the house, unless you have an iron resolve and get very lucky with a big win. If you're playing with something like a sportsbook it might be more possible to win if you've got a talent for spotting profitable and "easy" wins to increase your bankroll.

madnessteat

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I would be happy to use Solana coins to deposit gambling sites, but unfortunately I have not met any site that would support SOL. In my opinion using ETH or BTC for deposit is a kind of charity for miners pocket since even wire transfer appears to be cheaper nowadays.

Cling18

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Quote from: Vaskiy on April 04, 2021, 01:30:04 PM

When it comes to fund deposit on gambling, people never think about the fee and all. Most of the time users deposit fund on Gambling site when the user experience continued loss. To recover the loss the user makes deposit. This will be known by the sites and the deposits were confirmed faster with reduced transaction fee. Different users have different views, but in my experience When a gambler is depositing fund with the urge of recovering will never think about the transaction fee.

But if it's too high, it's already a big deal for most users especially for those who aren't big-time gamblers. I guess it's time to switch to other network if ETH fees are getting higher. They have told us that they would do something about ETH gas fees but I think they still didn't do anything to decrease it. For now, more users are switching to the BNB network.

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Quote from: romero121 on December 03, 2021, 06:50:08 PM

This is the truth, because most of the VIP players were the whales who never take into consideration about the transaction fee. Every cryptocurrency accepted gambling house have got more number of cryptocurrency to be used according to the convenience. This makes it more easy usable according to their need than thinking about the transaction cost.

Myself used to switch from one cryptocurrency to another when I never experience good winning. This means I try the luck through different cryptocurrency usage.

This is just my personal opinion but doesn't most transactions of casinos come from the majority of the users that aren't VIP level? Plus, even without the consideration of transaction fees, I reckon players would much like to use one that is much easier and faster in terms of transactions (and for the rich people, fees being low should be a kind of plus I suppose?). And having a wide range of cryptos available for that casino invites just that much more number of users, and together with their games, well they have their own solid player base there and then.

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Quote from: robelneo on December 03, 2021, 06:15:21 PM

Quote from: walrusbite on March 19, 2021, 11:32:46 PM

With fees so high, I'm wondering if big gamblers are switching from BTC/ETH to other options. Is there any data on what's being used? With limited options, what coins should a new platform consider supporting?

Edit: thanks for all the responses!

There's no data that supports that VIP's are switching from BTC/ETH to other altcoins majority of them don't mind the fees as long as it will not go 10% or higher than what they are sending, only small bettors prefer altcoins that are cheap but whales don't mind the fees, casinos are already accepting altcoins, they have done this because they want to cater to as many types of players, they know that different players support various type of coins.

This is the truth, because most of the VIP players were the whales who never take into consideration about the transaction fee. Every cryptocurrency accepted gambling house have got more number of cryptocurrency to be used according to the convenience. This makes it more easy usable according to their need than thinking about the transaction cost.

Myself used to switch from one cryptocurrency to another when I never experience good winning. This means I try the luck through different cryptocurrency usage.

robelneo

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Quote from: walrusbite on March 19, 2021, 11:32:46 PM

With fees so high, I'm wondering if big gamblers are switching from BTC/ETH to other options. Is there any data on what's being used? With limited options, what coins should a new platform consider supporting?

Edit: thanks for all the responses!

There's no data that supports that VIP's are switching from BTC/ETH to other altcoins majority of them don't mind the fees as long as it will not go 10% or higher than what they are sending, only small bettors prefer altcoins that are cheap but whales don't mind the fees, casinos are already accepting altcoins, they have done this because they want to cater to as many types of players, they know that different players support various type of coins.

timerland

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I think that you should probably consider accepting a wide variety of coins so that even if one network gets congested you've still got backup.

I'd say that you should look into accepting SOL, IOTA and LTC.

Definitely still accept ETH and BTC though because they are going to be your most popular coins, but they become pretty much unusable at times.

Lanatsa

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Quote from: aioc on December 03, 2021, 05:34:38 PM

Quote from: walrusbite on March 19, 2021, 11:32:46 PM

With fees so high, I'm wondering if big gamblers are switching from BTC/ETH to other options. Is there any data on what's being used? With limited options, what coins should a new platform consider supporting?

Edit: thanks for all the responses!

The best option for me is Tron I'm using it on all the casinos I'm playing and this is the coin that I request to be added and on a new site I always check if there is Tron in their option, it's fast and cheap, everything you're looking for a coin is here, especially if you are not a big bettor.
I can also easily trade it in our local currency because our local exchange has Tron on their list.

When it comes to fees then TRX XRP and EOS would be always be my main bet yet they are fast and very cheap without minding about delayed deposits or withdrawals plus you could really make out some minimal bets and withdraw which I do always prefer the most.

Most of gambling sites does have multiple options or coins accepted which is already been typical because not all would really be preferring on making
use of Bitcoin.

So its up to you on which one you would be comfortable with.

aioc

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Quote from: walrusbite on March 19, 2021, 11:32:46 PM

With fees so high, I'm wondering if big gamblers are switching from BTC/ETH to other options. Is there any data on what's being used? With limited options, what coins should a new platform consider supporting?

Edit: thanks for all the responses!

The best option for me is Tron I'm using it on all the casinos I'm playing and this is the coin that I request to be added and on a new site I always check if there is Tron in their option, it's fast and cheap, everything you're looking for a coin is here, especially if you are not a big bettor.
I can also easily trade it in our local currency because our local exchange has Tron on their list.

Slow death

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I'll take this thread to say that one of the biggest constraints when using cryptocurrencies in casinos has to do with volatility, it's happened to me several times that I win some games but then the altcoin price drops a lot and my profit gets reduced due to the price drop of altcoin, of course when the price of altcoin increases a lot we also benefit from said increase. for withdrawals I use Litecoin and Bitcoin (yes I know bitcoin has high fees)

mindrust

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BNB, DOGE, LTC.

BNB because it is the token of the world's bigest crypto exchange.
Doge because it is the meme king.
LTC because it has an established fan base. Old and good.

There are certainly some other coins worth mentioning but these are my 3 favorite alts when it comes to cheap transactions.

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Quote from: Fundamentals Of on March 23, 2021, 10:31:46 PM

Quote from: Wawa2013 on March 23, 2021, 09:47:07 PM

It annoys many gamblers with the current increase in Bitcoin and Ethereum transaction fees, even though these two coins are the most popular
for playing gambling. But seeing the surging transaction fees going up, making gamblers look for other alternatives that have much cheaper
transaction fees. Read posts from members in this forum, most suggest using XRP, LTC and DOGE. I admit that the three coins not only have
cheap transactions, but has very fast transactions too. I've also started using XRP, LTC and DOGE to play gambling and have also made deposits
and withdrawals on gambling platforms.

That is why if a gambling site is not yet accepting any other cryptocurrency except BTC or ETH, more likely they will lose certain users. They need to accept altcoins with lower fees and faster confirmation rate so that gamblers will be given options for their maximum convenience and fun.

For example, I was betting with Futuur weeks ago and they only have BTC in their crypto options. The consistent request was to add more crypto options such as the ones you named so that gamblers will continue to use the platform.

Hi!!

Now on Futuur you can bet with BTC, Ethereum, Litecoin, Bitcoin Cash, Dogecoin and Tron! Cool

See you in the forecasts

Silberman

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Quote from: TelolettOm on April 01, 2021, 10:42:37 PM

Quote from: walrusbite on March 19, 2021, 11:32:46 PM

With fees so high, I'm wondering if big gamblers are switching from BTC/ETH to other options. Is there any data on what's being used? With limited options, what coins should a new platform consider supporting?

So far, the average gambling site with the cryptocurrency concept has not only focused on these 2 assets. some use other altcoins whose transaction fees are cheaper and faster. An example is the Stake which I still use for gambling today. there is a Tron or Doge option whose transaction fees are cheaper and faster. Indeed for gamblers with not large capital, if the deposit using bitcoin, of course, object to withdrawal fees and also the deposit fees they spend are also high if it is calculated in dollar conversion

This is great, we all know that the majority of gamblers do so with bitcoin or ethereum but there are other gamblers out there that because they do not have large amounts of money to bet they use coins like dogecoin to save themselves money on the fees, so casinos need to make an effort to accommodate them because if they do not then those gamblers will simply move to other casinos that will and you do not want to lose customers for such a reason.

Fredomago

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Quote from: Vaskiy on April 04, 2021, 01:30:04 PM

When it comes to fund deposit on gambling, people never think about the fee and all. Most of the time users deposit fund on Gambling site when the user experience continued loss. To recover the loss the user makes deposit. This will be known by the sites and the deposits were confirmed faster with reduced transaction fee. Different users have different views, but in my experience When a gambler is depositing fund with the urge of recovering will never think about the transaction fee.

Most of time, the urgency of trying to recover back those losses leads gamblers not to look for this high fees, they are aggressive as they wanted to quickly recover those fund.

Rushing and not to think about anything very common to those gamblers, though not just those who are trying to recover
but there are also gamblers who continue to use whatever coin they'll love to use even the fees is high.

Quidat

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Quote from: goinmerry on April 04, 2021, 01:52:40 PM

Quote from: Vaskiy on April 04, 2021, 01:30:04 PM

When a gambler is depositing fund with the urge of recovering will never think about the transaction fee.

It's not just those who are desperate of recovering their funds.

But on the other side, which is those who experiencing continuous winning, also feel the same since why should they stopped if they are winning.

A gambler is a gambler no matter what. These fees might be hurting them but not a reason to distract them from doing gambling.

When you do have big capital or not someone who do have small capital to play gambling then you wouldnt really be bothering yourself on fees.Even if it would reach out a hundred
per transaction then you wouldnt really care if you are a paying up that thing but for those who are playing with small limited funds then its not really appealing at all.
People would always find out the best alternative or way which they can lessen out the fees for them to play without any minding or hesitance due to fees.

Topic: Considering huge transaction fees, what coins to support on new gambling site? (Read 1963 times)