Considering huge transaction fees, what coins to support on new gambling site? - page 10.

danherbias07

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Quote from: imstillthebest on March 20, 2021, 03:45:28 AM

. and what limited option ? we have lots of cryptos but if the casino limits you from chosing another coin ,
you can switch on different casino that supports wide range of coins .

Which is difficult to find right now.
If there is a vote, I bet stablecoins will be the winner in this.
No volatility, the movements won't even scare them a bit. It's just like using USD in a digital way.

But there are gamblers who prefer the old ways or they just want to earn more Bitcoin the faster way.
The volatility is what they are aiming for instead of escaping it.

Jemzx00

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Considering transaction fee on gambling sites especially bitcoin and ethereum, I don't see any big issue especially for high rollers as it won't affect much on them but for small time degenerate gambler such as myself, I consider it as a hassle when withdraw and depositing unto the platform. Especially on withdrawal as there are little to no choice for the user to change the fee on their withdrawal which is also the reason why gambling site increases their withdrawal amount.

TRX, XRP, WAX and many more crypto should be considered when coming up with a new gambling platform as transaction fee and traffic on this crypto aren't as much as compared to major crypto such as Bitcoin and Ethereum.

A new and upcoming gambling platform with a 90's setup and will be implemented on TRX or WAX blockchain where every users will have fully control on their wallet while gambling as the platform is a non custodial. Bitfresh will surely be a great gambling soon once it has fully launched.

BITCOIN4X

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If transaction fee are an issue, then I think LTC, DOGE, USDT and TRX are the best solution for new gambling site to adopt. Bitcoin and Ethereum remain the top choice and other altcoin are more practical to bring a lot of traffic to the site from low-income gambler.

I also like that gamblers have the option to withdraw their money to low fee altcoin even if their balance on the site is in bitcoin or ethereum. This will save a small amount of transaction fee for small withdrawal.

Beparanf

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Quote from: Reid on March 20, 2021, 05:16:51 AM

I'm not that kind of a big gambler but I still prefer Ethereum.
What you should be avoiding is the amount of withdrawal. With that kind of perspective, you won't have to think about the fees.
Just gamble all the way.

In terms of options, I think XRP would be the option if they want to add another coin to their list.
Low fees and fast transactions. But not that many sites have that perks.

Nahhh, Ethereum fee cost around 20$ right so it's a significant amount already even though for an average gambler. There's no way I will pay that much fee for just gambling considering my gambling capital size. I already loss the moment I transfer my money out there.

XRP is a very bad alternative due to the volatility of the coin value. A stablecoin like TRC20 USDT is the best alternative.

XZERO1

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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?

TRX(TRC20), USDT(TRC20) and maybe Litecoin(slower than the other ones but it costs around 0.2$ for transaction fees) are the better choices and many casino website accept them as payment now.

I'm guessing these huge transaction fees for both Bitcoin and Ethereum is hurting those casino websites with no support for other coins with cheaper fees, so they should step it up and add more coins to their accepted payment methods to not lose customers to other casino websites that have more payment options, specially in such a competitive market as of now.

Reid

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I'm not that kind of a big gambler but I still prefer Ethereum.
What you should be avoiding is the amount of withdrawal. With that kind of perspective, you won't have to think about the fees.
Just gamble all the way.

In terms of options, I think XRP would be the option if they want to add another coin to their list.
Low fees and fast transactions. But not that many sites have that perks.

dothebeats

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Doge is accepted on the platform that I use, so it's a no-brainer to use dogecoin on my gambling. It's fast, efficient, and the fees are still reasonably priced even though it is getting hyped and pumped to death by a lot of traders right now. I used to use XRP as well on some platforms though I have avoided using it ever since the lawsuit and those controversies arose on the said coin. DASH is pretty good to on the current state of things, though it isn't as widely accepted as ETH or Doge, I believe.

imstillthebest

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big gamblers love to use btc and eth and theres no way the fees can scare them to switch on other cryptos because big gamblers only trust the original but it was the small gambler that are switching into smaller fees coin to continue enjoying playing a gambling .
. and what limited option ? we have lots of cryptos but if the casino limits you from chosing another coin ,
you can switch on different casino that supports wide range of coins .

Bttzed03

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Quote from: $crypto$ on March 20, 2021, 03:30:37 AM

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So can the gambling industry platform add to the bsc / Bep20 network it looks very attractive if a platform implements a system like this, it is much cheaper and faster in the transactions they use in depositing / withdrawing.

Yes. If a casino can add erc-20 tokens to their platform, I don't see any difficulty adding BEP-20 because they are almost identical.

You can check Betfury's BNB, it's the BEP-20 version and not BEP2.

$crypto$

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Quote from: Bttzed03 on March 20, 2021, 03:19:02 AM

You also need to add a stable coins but avoid those issued on Ethereum. USDT (TRC-20) as mentioned by @Little Mouse and/or BUSD (BEP-20) are cheap on transaction fees.

So can the gambling industry platform add to the bsc / Bep20 network it looks very attractive if a platform implements a system like this, it is much cheaper and faster in the transactions they use in depositing / withdrawing.

We know now that there are many options that the platform has provided at a very low cost, they will still leave the erc20 network because it is still expensive, with a few coins added it will be a solution and the cost will not cost $1.

zanezane

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Maybe a Doge, Ripple and Litecoin will do the job, I don't gamble so I don't know which one is good and the coins that I suggested are some of the coins that I have heard in the forum used by some gamblers but I don't think that any coins with high transaction fee like Bitcoin or Ethereum is a good coin for gambling, not to mention that their prices are high.

Bttzed03

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XRP have been mentioned a few times already but I wouldn't suggest that for now. You can add them later on once they won the case filed by the SEC against them.

You also need to add a stable coins but avoid those issued on Ethereum. USDT (TRC-20) as mentioned by @Little Mouse and/or BUSD (BEP-20) are cheap on transaction fees.

Yaunfitda

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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?

I don't know if we have the data now, but I would agree that many gamblers, from average joes to whales are shifting to other coins. And the good thing is that many top casino's right now are offering a lot of options. I would say: Tron, LTC, some other stable coins, BNB, Doge or Dash.

Might has some learning curves though for some gamblers, but it's worth if they learn how to obtain those crypto's for their gaming pleasure.

swogerino

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I personally prefer Litecoin from the major cryptos but I know there are a lot of altcoins which have really cheap fees.It depends what you should implement in your site based on what your users use more,so far many gamblers prefer the top 10 major cryptos for playing so you cannot go wrong if you choose the coin with less fees from this list.

michellee

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Quote from: electronicash on March 20, 2021, 01:29:02 AM

Quote from: michellee on March 20, 2021, 12:12:06 AM

You can add TRX, Doge, EOS, Waves, XEM and XRP for the coin, which has a low transaction fee. But you can still use bitcoin, ethereum, litecoin, as many gamblers will still use those coins. Besides the coins with high transaction fees, you have the other altcoins, which can be convenient to most gamblers who want to avoid the high fee.

when you are on the platform and have deposited to it anyway, you don't have to pay transaction fees to bet, the only worries will be withdrawing the BTC or ETH.
the one that i use often is the TRON for cheap fees. EOS has a good way of doing things because the transactions are free as long as you keep some for the CPU and RAM for your wallet. someone suggested EOS before and upon closer look by using tokenpocket, a user will have access to gambling dapps and he can bet without having to pay fees.

When you send the money from the exchanges or the other wallet and use bitcoin and ethereum, the fee will be high compared with the bitcoin and ethereum price. So if you want to use the altcoin, which has low fees, you can send a big amount of that altcoin without paying the high fees. I think TRON is good enough for us to use it for gamble because of the low fees and the withdrawal fee, so I think @OP can consider adding TRON as an alternative coin to gamble.

Kakmakr

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Yes, the transaction fees can be a deciding factor for many to switch to a Alt coins... like Doge and XRP and TRX and also LTC. I see a lot of guys complaining about long waiting times for confirmations of their deposits at some casinos and I think that is a bigger problem than the size of the transaction fees. (People do not want to wait 2 to 3 hours ...or even 10 minutes for deposits to be confirmed)

There should be some link to a "How to guide" on the site, to help newbies to Alt coins to do this in a safe manner, because there are lots of scam wallets out there. Roll Eyes

electronicash

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Quote from: michellee on March 20, 2021, 12:12:06 AM

You can add TRX, Doge, EOS, Waves, XEM and XRP for the coin, which has a low transaction fee. But you can still use bitcoin, ethereum, litecoin, as many gamblers will still use those coins. Besides the coins with high transaction fees, you have the other altcoins, which can be convenient to most gamblers who want to avoid the high fee.

when you are on the platform and have deposited to it anyway, you don't have to pay transaction fees to bet, the only worries will be withdrawing the BTC or ETH.
the one that i use often is the TRON for cheap fees. EOS has a good way of doing things because the transactions are free as long as you keep some for the CPU and RAM for your wallet. someone suggested EOS before and upon closer look by using tokenpocket, a user will have access to gambling dapps and he can bet without having to pay fees.

virasisog

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It depends most rich people don't consider what they have to pay just to save money for the fees. I guess most small gamblers do this, I personally switch to XRP when I gamble even before the price hiked to its peak. I also don't use BTC or ETH when gambling not just to save fees, I prefer keeping them than to gamble with it.

Little Mouse

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You are referring to big gamblers while this high transaction fee means nothing to them while for small gamblers, it’s ruining. I would be fine playing with LTC, or USDT (TRC20) as fee for both are pretty low. And you know LTC is a big hand for the people using crypto for small payment.

Strongkored

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Some cryptocurrencies with low tx fees have been answer above my post, which have not been mentioned and have also gambling site started to use it as their payment option is BNB, BNB tx fees are quite cheap.

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