DOGE and XRP are coins that have relatively low transaction fees compared to others. Some gambling sites accept these, but some only accept BTC/ETH, and users are forced to bear with the fees (though you just gotta time it really during when the network isn't that congested). Still, it isn't like all users are forced, some users just like using BTC/ETH and just can't be assed to trade it before sending it to casinos, so they just use it as it is.
Long story short, people aren't exactly leaving the usage of BTC/ETH in casinos, but there are better alternatives if you're looking for low transaction fees.
Topic: Considering huge transaction fees, what coins to support on new gambling site? - page 11. (Read 1963 times)
March 20, 2021, 12:49:03 AM
March 20, 2021, 12:46:33 AM
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?
Many gamblers chooses to stay with bitcoin gambling as their gambling investments because they find it more sustainable rather than altcoins. In most cases, altcoins invested with gambling tend to lost along the way and couldn't sustain longer. Always prefer choosing the stable cryptocurrency which potentially bring your asset to a secure future, even though gambling has no assurance but if you're lucky enough to win I think you'll be able to reach the goals that you ever dreamed of.
March 20, 2021, 12:31:38 AM
Doge and Tron are having cheaper transaction fee and already most of the casinos are having these coins into their accepted payment coins. But there are some bitcoin only casinos are also available which may not accept any altcoins and they are still doing good with Bitcoin itself.
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.
March 20, 2021, 12:07:46 AM
Dogecoin has always been a popular choice and so has litecoin. Almost every casino that supports altcoins supports these two currencies. There are some coins with higher market caps but they are primarily used for smart contracts so not very many people use them for gambling. Doge and LTC's main purpose has been to avoid high fees. Doge is also very popular right now so you might as well take advantage of that since people will be looking for places where it is an accepted currency.
March 19, 2021, 11:55:09 PM
I think it's more on the smaller gamblers that are forced to make the switch since their bankroll takes a huge hit on the fees that's required by the casinos.
If bitcoin casinos plan to accept altcoins then the safest play is to probably go with one of the top alts like ETH, LTC, XRP, etc since most exchanges accept these coins.
Imo casinos should put an option for batched transaction rather than accepting altcoins since there's still a lot of gamblers that prefer to use bitcoin.
If bitcoin casinos plan to accept altcoins then the safest play is to probably go with one of the top alts like ETH, LTC, XRP, etc since most exchanges accept these coins.
Imo casinos should put an option for batched transaction rather than accepting altcoins since there's still a lot of gamblers that prefer to use bitcoin.
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!
Edit: thanks for all the responses!
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