Considering huge transaction fees, what coins to support on new gambling site? - page 4.

blockman

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Quote from: Swopon on March 29, 2021, 02:07:16 PM

Yes, new gambling sites can add altcoins withdrawal system. By following this, it may help them for marketing. It will be considered as a marketing tool for them which will help a lot to grow faster and also will he helpful for gamblers too. But we are doing withdraw with forcibly high withdrawal fee.

Not only that, they should have an internal swap or exchange. It's also a solution for most gamblers that find it hard to transfer and convert because they're too conservative about the fees.
They exchange internally with the altcoins of their choice and move it to their own wallets with cheap fee.

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Quote from: matchi2011 on March 29, 2021, 01:51:24 PM

For now, gamblers do use alternative coins that have quicker transfer yet a much lesser transaction fees. It said above
that both TRX and XRP have this features,.

Eth 2.0 would solve the problem of scalability up to an extent and Polkadot could soon become a replacement for the centralized shitcoins like Tron and Ripple. Ripple is already facing the lawsuit and the regaining back to an extent like 2018 is almost impossible unless the investors are fooled. The primary purpose of bitcoin was to be decentralized and ripple started developing into too much of a centralized shitcoin with fake pumps and dumps all over the market.

Similarly BnB is developing with the fake pumps, but the decentralized networks like Bitcoin, Ethereum, monero or polkadot would be the winners over the longer term. There are already over 200+ projects being built on top of polkadot and it would rise to new highs and could be evolved as the real competitor for ethereum in the upcoming months/years. If the casino is more interested towards the privacy of its customers, they would eventually be paying them with monero rather than a shitcoin like TRX which is scalable but isn't meant to be private.

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Quote from: ethereumhunter on March 28, 2021, 10:58:10 PM

We can suggest the new gambling site add altcoins to their site to help the gambler reduce the withdrawal fee if they use bitcoin or ethereum. With the increased price now, people feel not right with the fee, but they can not do anything except follow it.

Yes, new gambling sites can add altcoins withdrawal system. By following this, it may help them for marketing. It will be considered as a marketing tool for them which will help a lot to grow faster and also will he helpful for gamblers too. But we are doing withdraw with forcibly high withdrawal fee.

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Quote from: KTChampions on March 29, 2021, 12:09:15 PM

Quote from: bitzizzix on March 28, 2021, 10:51:43 PM

Quote from: KTChampions on March 28, 2021, 06:32:35 PM

Yes, the fees are completely insane right now. Maybe gradually the use of bitcoin in casinos will completely disappear for these reasons. After all, few people now talk about the use of bitcoin as a means of payment, and once this was its main purpose. People will simply change their habits under the pressure of circumstances and use other cryptocurrencies that are faster and cheaper.

The pay will not be crazy for big gamblers because it will be worth the win and they will stick with bitcoin and ethereum even though the fees are very high, and for the little gambler it will be very influential and will look for alternatives to switching to altcoins because they are cheap.
and in my opinion TRX and XRP are most of the alternatives that most people will choose because they are cheap as well as fast.

I have heard the same arguments regarding bitcoin as a means of payment, but the whole industry cannot hold on to large players, so the use of cryptocurrencies with large commissions in such areas will inevitably fall. Perhaps the ETH after switching to POS will be able to "return to the game" and, given its leadership in many parameters, will become an even more dominant altcoin.

That's still maybe, an assumption in case ETH updates covered this high fees and start to provide service the same way
it was before this huge transaction fees to process your transactions.

For now, gamblers do use alternative coins that have quicker transfer yet a much lesser transaction fees. It said above
that both TRX and XRP have this features,.

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Quote from: bitzizzix on March 28, 2021, 10:51:43 PM

Quote from: KTChampions on March 28, 2021, 06:32:35 PM

Yes, the fees are completely insane right now. Maybe gradually the use of bitcoin in casinos will completely disappear for these reasons. After all, few people now talk about the use of bitcoin as a means of payment, and once this was its main purpose. People will simply change their habits under the pressure of circumstances and use other cryptocurrencies that are faster and cheaper.

The pay will not be crazy for big gamblers because it will be worth the win and they will stick with bitcoin and ethereum even though the fees are very high, and for the little gambler it will be very influential and will look for alternatives to switching to altcoins because they are cheap.
and in my opinion TRX and XRP are most of the alternatives that most people will choose because they are cheap as well as fast.

I have heard the same arguments regarding bitcoin as a means of payment, but the whole industry cannot hold on to large players, so the use of cryptocurrencies with large commissions in such areas will inevitably fall. Perhaps the ETH after switching to POS will be able to "return to the game" and, given its leadership in many parameters, will become an even more dominant altcoin.

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Quote from: XZERO1 on March 29, 2021, 04:37:40 AM

Quote from: bangkrutmina on March 28, 2021, 09:10:53 PM

Nowadays it shouldn't just about the coin, but about the provider as well. if a website can have few options like binance chain, ERC-20 i think it should be better

Binance smart chain got low fees and is fast but some might argue that it is centralized so it might not be the best option for some people

No, it not that people will argue it's centralized but people will say it's centralized, isn't it centralized? Why do we have to argue about the fact of the issue which is already know by all.
BSC is not the best option and most private company (gambling site) don't support it.

Quote from: XZERO1 on March 29, 2021, 04:37:40 AM

also adding any kind of ERC-20 token won't help as they are just tokens based on Ethereum blockchain and actually you have to pay way more fees to transfer ERC-20 tokens on Ethereum network than Eth itself, so it's cheaper to just use Ethereum.

Adding Erc20 is another worse ideas and the perfect altcoin i think will profit gambling site owners and gamblers will be Litecoin

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Quote from: XZERO1 on March 29, 2021, 04:37:40 AM

Quote from: bangkrutmina on March 28, 2021, 09:10:53 PM

Nowadays it shouldn't just about the coin, but about the provider as well. if a website can have few options like binance chain, ERC-20 i think it should be better

Casino websites should accept some coins with privacy features and some other coins that are just fast for sending/receiving payments so that every customers is able to use a payment method that suits them the best, whether they choose based on their fees, privacy or speed should be up to them.

What coin like monero? Maybe thats a good option though I don't see much user use this as an option but for now many casino are slowly adopting a good coins like xrp,trx and ada, also doge got a good tracks right now so maybe those casino consider this since this one will give convenience to their bettors and might they will make them stay since people don't like to be hustle.

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Quote from: Swopon on March 28, 2021, 08:56:31 PM

Quote from: ?? on ??

Quote from: Swopon on March 28, 2021, 08:35:30 AM

In this time, those people can be considered as a rich who are transferring their funds through using Ethereum network. By the way, it doesn't matter how much the fee is for big gamblers. But it matters for small gamblers who don't have huge budget. Besides, Btc or Eth, we have seen some Cryptos already supported in many gambling sites. From those sites, TRX, USDT is the most usable cryptos. This time, I also choose other altcoins like Trx, Doge.

The low price altcoin will be the choice for the small gamblers as they do not want to pay the high fee.

Once I discuss the bitcoin and ethereum transaction fees with my friends, they tell me that they do not want to pay the high fee from ethereum or bitcoin. So they convert their bitcoin into altcoins such as TRX, Doge or the other low coin price to reduce the fees.

So the altcoin will be preferred than to use bitcoin or ethereum to withdraw today.

Yes, suggest them to convert their funds as I also suggested some of my friends to convert their Btc or Eth to altcoins. The fee is limited, so it is not a big deal for big amount gamblers. I know some people who even deposit such amount to play will be considered as fee for others too. So they won't use Btc or Eth. The easy way is for them to convert.

Which gambling site are you talking about precisely Swopon? There are very few online casinos offering exchange between cryptos, so converting BTC or ETH into altcoins is not a possible solution for everyone. It can only work for gamblers using this kind of gambling platforms.

XZERO1

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Quote from: bangkrutmina on March 28, 2021, 09:10:53 PM

Nowadays it shouldn't just about the coin, but about the provider as well. if a website can have few options like binance chain, ERC-20 i think it should be better

Binance smart chain got low fees and is fast but some might argue that it is centralized so it might not be the best option for some people, also adding any kind of ERC-20 token won't help as they are just tokens based on Ethereum blockchain and actually you have to pay way more fees to transfer ERC-20 tokens on Ethereum network than Eth itself, so it's cheaper to just use Ethereum.

Casino websites should accept some coins with privacy features and some other coins that are just fast for sending/receiving payments so that every customers is able to use a payment method that suits them the best, whether they choose based on their fees, privacy or speed should be up to them.

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Quote from: Swopon on March 28, 2021, 08:56:31 PM

Yes, suggest them to convert their funds as I also suggested some of my friends to convert their Btc or Eth to altcoins. The fee is limited, so it is not a big deal for big amount gamblers. I know some people who even deposit such amount to play will be considered as fee for others too. So they won't use Btc or Eth. The easy way is for them to convert.

We can suggest the new gambling site add altcoins to their site to help the gambler reduce the withdrawal fee if they use bitcoin or ethereum. With the increased price now, people feel not right with the fee, but they can not do anything except follow it.

Quote from: bangkrutmina on March 28, 2021, 09:10:53 PM

Nowadays it shouldn't just about the coin, but about the provider as well. if a website can have few options like binance chain, ERC-20 i think it should be better

It needs more time to have another option such as adding binance chain or else, but the site can add the altcoin first in their site. But in the future, they can try to add the other option as the payment system to make the members like with the alternative coins.

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Quote from: KTChampions on March 28, 2021, 06:32:35 PM

Quote from: StartupAnalyst on March 28, 2021, 07:31:13 AM

Quote from: KTChampions on March 27, 2021, 12:58:57 PM

This is a matter of habit/convenience. You always know the price of ETH or bitcoin (most people connected with crypto check it every day), but do you know the actual price of smaller coins such as Zil for example? I am not, and it would be difficult for me to place a bet without knowing how much I am risking.

But why not make some kind of token for gambling. After all, it would make it a little easier to choose. Besides, eth or bitcoin often have high commissions. If a person wants to bet $30 for example, they will have to pay another $20 for the commission in order to send that $30 to the site.

I am using Qtum token for transfer now because it has low commissions. If sites would add this token I would play on Qtum

Yes, the fees are completely insane right now. Maybe gradually the use of bitcoin in casinos will completely disappear for these reasons. After all, few people now talk about the use of bitcoin as a means of payment, and once this was its main purpose. People will simply change their habits under the pressure of circumstances and use other cryptocurrencies that are faster and cheaper.

The pay will not be crazy for big gamblers because it will be worth the win and they will stick with bitcoin and ethereum even though the fees are very high, and for the little gambler it will be very influential and will look for alternatives to switching to altcoins because they are cheap.
and in my opinion TRX and XRP are most of the alternatives that most people will choose because they are cheap as well as fast.

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Quote from: CoinageMint on March 27, 2021, 05:11:47 AM

I don't mind a little gambling once a month or so.
Depending on what casino, BCH has often been the cheapest and easiest.
Some casinos accept 0 conf BCH tx's and it's never more than $0.01 in tx fees to send.

ETH was good for a little while because of the fast confirmations, but the fees on ETH are also sky high now.

If you are already having BCH in your wallet, then there is nothing wrong in using it for small and medium sized payments. But I have seen some of the users converting their BTC to BCH, just to make the payments. And they convert back the BCH after some time. This is not something that I would recommend, as BCH is on a declining trend for almost one year now. The conversion of BTC to BCH may cause losses, and on top of that you need to pay additional fee for conversion.

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Nowadays it shouldn't just about the coin, but about the provider as well. if a website can have few options like binance chain, ERC-20 i think it should be better

Swopon

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Quote from: ?? on ??

Quote from: Swopon on March 28, 2021, 08:35:30 AM

In this time, those people can be considered as a rich who are transferring their funds through using Ethereum network. By the way, it doesn't matter how much the fee is for big gamblers. But it matters for small gamblers who don't have huge budget. Besides, Btc or Eth, we have seen some Cryptos already supported in many gambling sites. From those sites, TRX, USDT is the most usable cryptos. This time, I also choose other altcoins like Trx, Doge.

The low price altcoin will be the choice for the small gamblers as they do not want to pay the high fee.

Once I discuss the bitcoin and ethereum transaction fees with my friends, they tell me that they do not want to pay the high fee from ethereum or bitcoin. So they convert their bitcoin into altcoins such as TRX, Doge or the other low coin price to reduce the fees.

So the altcoin will be preferred than to use bitcoin or ethereum to withdraw today.

Yes, suggest them to convert their funds as I also suggested some of my friends to convert their Btc or Eth to altcoins. The fee is limited, so it is not a big deal for big amount gamblers. I know some people who even deposit such amount to play will be considered as fee for others too. So they won't use Btc or Eth. The easy way is for them to convert.

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Quote from: CarnagexD on March 27, 2021, 04:24:16 PM

I'm seeing more and more people looking at BTT not only because of its relatively cheap cost but because of it's profitability as well. Not too long ago it was sitting at a measly $0.00021 but has since increased in price and is now sitting at $0.0041 imagine how big the gains are, not to mention its low transaction fee as well, and since it's backed by a well-respected gambling site, there's no way you could go wrong with holding a few BTTs yourself!

BTT BitTorrent coin, is just a token on the Tron blockchain in reality, so I don't think gambling sites offer fees lower than TRX for BTT Undecided

What well-respected gambling site are you talking about precisely? I would be very surprised if it provides deposits and withdrawals in BTT and not in TRX.

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Quote from: StartupAnalyst on March 28, 2021, 07:31:13 AM

Quote from: KTChampions on March 27, 2021, 12:58:57 PM

This is a matter of habit/convenience. You always know the price of ETH or bitcoin (most people connected with crypto check it every day), but do you know the actual price of smaller coins such as Zil for example? I am not, and it would be difficult for me to place a bet without knowing how much I am risking.

But why not make some kind of token for gambling. After all, it would make it a little easier to choose. Besides, eth or bitcoin often have high commissions. If a person wants to bet $30 for example, they will have to pay another $20 for the commission in order to send that $30 to the site.

I am using Qtum token for transfer now because it has low commissions. If sites would add this token I would play on Qtum

Yes, the fees are completely insane right now. Maybe gradually the use of bitcoin in casinos will completely disappear for these reasons. After all, few people now talk about the use of bitcoin as a means of payment, and once this was its main purpose. People will simply change their habits under the pressure of circumstances and use other cryptocurrencies that are faster and cheaper.

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Quote from: plr on March 27, 2021, 05:02:49 AM

I and my friends are small-time gamblers, but we are lucky that we have a way to buy altcoins using our local currency and can send the altcoins to a gambling site with small fees, and we can also trade our altcoins to our local currency, it's a big help if your government supports not only Bitcoin but other altcoins as well, some of the altcoins I'm using on the gambling sites I'm playing are Tron, Doge, Litecoin and XRP

It is really not easy for me to do that, because my government doesn't allow online gambling aside from few places. We do have sportsbetting as allowed, but you can't gamble everywhere, it needs to be approved by this one place, and that is why we are restricted to like 5 online places in general and that is about it.

Aside from that all other online games are banned as well. So, I can't just put fiat into some local exchange, get altcoin and send it to some gambling place because they would know that I am gambling and since they have my KYC that means I won't be capable of doing whatever I want and will be caught if I did that. Which is why long story short I end up not using local exchange that way. However I do move the money to blockchain.com account, and from there to any casino I want and that is not a problem, because they do not check it one step ahead, that is a bliss.

Swopon

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In this time, those people can be considered as a rich who are transferring their funds through using Ethereum network. By the way, it doesn't matter how much the fee is for big gamblers. But it matters for small gamblers who don't have huge budget. Besides, Btc or Eth, we have seen some Cryptos already supported in many gambling sites. From those sites, TRX, USDT is the most usable cryptos. This time, I also choose other altcoins like Trx, Doge.

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Quote from: KTChampions on March 27, 2021, 12:58:57 PM

Quote from: Fundamentals Of on March 26, 2021, 09:34:05 PM

Quote from: KTChampions on March 26, 2021, 05:07:16 PM

But if a player wants to play with bitcoin or ETH, then he is forced to make a conversion. And if he wants to withdraw money using a cheap altcoin, then he is forced to do the opposite operation. Yes, these exchange operations are not the main activity of the casino and therefore the exchange rates there are very unfavorable for the player.

I don't know if there is such a player who really insists on playing with Bitcoin (BTC) or Ethereum (ETH) that he will make deposits with a particular altcoin, convert it into Bitcoin (BTC) or Ethereum (ETH), and then when he decides to withdraw, convert again to altcoin. I don't know if this is the best option he has to take or he is only wasting time and money in the process.

I agree that conversion within a gambling site is not a good choice in terms of prices.

This is a matter of habit/convenience. You always know the price of ETH or bitcoin (most people connected with crypto check it every day), but do you know the actual price of smaller coins such as Zil for example? I am not, and it would be difficult for me to place a bet without knowing how much I am risking.

But why not make some kind of token for gambling. After all, it would make it a little easier to choose. Besides, eth or bitcoin often have high commissions. If a person wants to bet $30 for example, they will have to pay another $20 for the commission in order to send that $30 to the site.

I am using Qtum token for transfer now because it has low commissions. If sites would add this token I would play on Qtum

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Quote from: CarnagexD on March 27, 2021, 04:24:16 PM

I'm seeing more and more people looking at BTT not only because of its relatively cheap cost but because of it's profitability as well.

I see more with TRX instead of BTT.

Quote from: CarnagexD on March 27, 2021, 04:24:16 PM

Not too long ago it was sitting at a measly $0.00021 but has since increased in price and is now sitting at $0.0041 imagine how big the gains are, not to mention its low transaction fee as well, and since it's backed by a well-respected gambling site, there's no way you could go wrong with holding a few BTTs yourself!

But you're right that if there's a demand for the coin, there will be an increase in its price because of the transactions that are happening on it. A lot of altcoins as a choice to have cheaper fees and it's all going to matter on your choice and what you like and dislike.

Topic: Considering huge transaction fees, what coins to support on new gambling site? - page 4. (Read 1963 times)