Considering huge transaction fees, what coins to support on new gambling site? - page 6.

Wexnident

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Quote from: romero121 on March 25, 2021, 05:28:09 PM

Adding low ranked coins along with the top cryptocurrencies is a good choice. If there is no Bitcoin and ethereum on the list, then the platform itself won't get recognised as cryptocurrency accepted gambling platform.

Right now people get the convenience of using more number of cryptocurrencies and the gambling sites itself has the swapping access. So, it isn't a big thing to take it into the new gambling site. Transaction fee is common with almost every platform, try to provide low withdrawal fee which also plays good role in attracting new gamblers.

But Bitcoin is one of the major coins out there that have insane fees most of the time (it depends, yes, but most of the time the network is congested afaik), and for crypto casinos, I think having ETH/Doge/XRP is already enough for it to be considered as a crypto casino. BTC is a possible option, yes, but most gamblers in the know would prefer to use, as you said, coins with low transaction fees. Not that I've ever seen one without it though Tongue

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kotajikikox

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Quote from: michellee on March 25, 2021, 04:25:46 AM

Maybe you should not use Tron to gamble because the price increases from the price you bought Tron before. If you can sell at the exchange instead of using it for a gamble, you will make a profit and you can use that profit to buy doge and use it for gamble. I prefer to use dogecoin because that coin is available on many gambling sites, giving me more options to use any gambling site that I want. That is my suggestion for you but that will be up to you.

Good advice , If the price of the coins in your pocket is still increasing then why need to use for gambling when you can still wait for more pump.
But if you are not caring about the possible profit(because there is also a possible decrease) then Using to gamble maybe a right manner to deal with.
and besides this is advantageous already because he buys in lower price and now it maybe doubled? if the site is convertible to Dollar then It's a perfect material to gamble i guess.

Fundamentals Of

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Quote from: KTChampions on March 25, 2021, 05:27:25 PM

Quote from: Fundamentals Of on March 25, 2021, 08:48:05 AM

I don't get your point, if you have any. It doesn't mean that a casino adding more cryptocurrencies would remove Bitcoin (BTC) and Ethereum (ETH). BTC and ETH will always be there as major options because they are the two leading cryptocurrencies. Which casino is stupid enough to only accept minor cryptocurrencies?

But it is always better for a casino to accept more than BTC and ETH. It doesn't hurt a casino if they add Litecoin (LTC), Ripple (XRP), Dogecoin (DOGE), etc.

Dealing with small cryptocurrencies with cheap fees is an obvious option, but it is not a complete solution to the problem. People are used to betting in currencies such as bitcoin and ETH, and converting into these currencies leads to additional commissions, and usually they are quite high at casinos.

Of course, it is not the complete solution. But the complete solution is beyond the control and decision of gambling sites so they need to think of other ways for the time being.

People don't need to do constant conversion of cryptocurrencies on gambling sites. In the first place, gambling sites are no conversion, swap,
or exchange sites. With the acceptance of cheaper altcoins, gamblers only make deposits and withdrawals with these altcoins. No need to deposit BTC and ETH and do the conversion in the site itself.

Ewox

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Quote from: blockman on March 25, 2021, 05:31:58 PM

Quote from: Japinat on March 24, 2021, 06:57:59 PM

Small gamblers gambles with small amount, hence, the fees are really needed to be small.

Small gamblers have no choice but to stop if they gamble but can't take the fees. There's no option but to exchange into altcoins that have a lesser fee.
But to do that, they have to transfer and they have to pay for the fee as well if that's bitcoin or ethereum.

Either way they are still paying a certain amount of fee that’s why they choose to exchange them to a lesser valued altcoin such as XRP or LTC so fees wouldn’t be that much compared to Bitcoin or Ethereum. For as long as these 2 coins gave higher value, the transaction fees would also be high.

roosbit

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Quote from: walrusbite on March 20, 2021, 12:32:46 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?

For starters am not a heavy gambler but from the casinos I have played on like duelbits and roobet its unfortunate that the have not expanded their doors to allow other coins with lesser fees which is very odd at this point where at times fees can be hitting at a minimal of $10 while we have other coins that charge a tenth of a fraction which could actually see more players on their platforms but they seem to be holding back.

If a coin with lesser tx fees is added I would switch without thinking twice but left with no option we keep playing with what we they have to offer.

blockman

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Quote from: Japinat on March 24, 2021, 06:57:59 PM

Small gamblers gambles with small amount, hence, the fees are really needed to be small.

Small gamblers have no choice but to stop if they gamble but can't take the fees. There's no option but to exchange into altcoins that have a lesser fee.
But to do that, they have to transfer and they have to pay for the fee as well if that's bitcoin or ethereum.

romero121

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Quote from: Lanatsa on March 25, 2021, 05:16:12 PM

Quote from: Fundamentals Of on March 25, 2021, 08:48:05 AM

Quote from: geegaw on March 25, 2021, 05:04:44 AM

Quote from: Fundamentals Of on March 23, 2021, 11:31:46 PM

Quote from: Wawa2013 on March 23, 2021, 10:47:07 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.

Losing a few users is better than making too little profit and not enough money for gambling activities because with two popular currencies like ethereum and bitcoin, casinos will always maintain a higher profit margin as casinos almost always set a low for betting and even at a minimum, the value per failure is quite high for these two currencies. Whereas in other currencies, the cost per loss is meager, I have tested it a few times, it took so long for the casino to beat us completely, maybe they got the problem and don't want to waste time

I don't get your point, if you have any. It doesn't mean that a casino adding more cryptocurrencies would remove Bitcoin (BTC) and Ethereum (ETH). BTC and ETH will always be there as major options because they are the two leading cryptocurrencies. Which casino is stupid enough to only accept minor cryptocurrencies?

But it is always better for a casino to accept more than BTC and ETH. It doesn't hurt a casino if they add Litecoin (LTC), Ripple (XRP), Dogecoin (DOGE), etc.

Its indeed a nonsense thing for a casino on having no BTC and ETH or other top altcoin and just rather put up some low ranking coins instead?Its just nonsense to have that kind of action made in that case.

Of course, gambling sites will really be mainly putting up the coin on where this community mainly been supporting on which is BTC and its understandable when it comes or to look itself for demand.

Majority of sites now do offer multiple coins for them to choose from which is a giving a great convenience since you do have lots of options on what coin you would be using into your gambling.

Adding low ranked coins along with the top cryptocurrencies is a good choice. If there is no Bitcoin and ethereum on the list, then the platform itself won't get recognised as cryptocurrency accepted gambling platform.

Right now people get the convenience of using more number of cryptocurrencies and the gambling sites itself has the swapping access. So, it isn't a big thing to take it into the new gambling site. Transaction fee is common with almost every platform, try to provide low withdrawal fee which also plays good role in attracting new gamblers.

KTChampions

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Quote from: Fundamentals Of on March 25, 2021, 08:48:05 AM

I don't get your point, if you have any. It doesn't mean that a casino adding more cryptocurrencies would remove Bitcoin (BTC) and Ethereum (ETH). BTC and ETH will always be there as major options because they are the two leading cryptocurrencies. Which casino is stupid enough to only accept minor cryptocurrencies?

But it is always better for a casino to accept more than BTC and ETH. It doesn't hurt a casino if they add Litecoin (LTC), Ripple (XRP), Dogecoin (DOGE), etc.

Dealing with small cryptocurrencies with cheap fees is an obvious option, but it is not a complete solution to the problem. People are used to betting in currencies such as bitcoin and ETH, and converting into these currencies leads to additional commissions, and usually they are quite high at casinos.

Lanatsa

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Quote from: Fundamentals Of on March 25, 2021, 08:48:05 AM

Quote from: geegaw on March 25, 2021, 05:04:44 AM

Quote from: Fundamentals Of on March 23, 2021, 11:31:46 PM

Quote from: Wawa2013 on March 23, 2021, 10:47:07 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.

Losing a few users is better than making too little profit and not enough money for gambling activities because with two popular currencies like ethereum and bitcoin, casinos will always maintain a higher profit margin as casinos almost always set a low for betting and even at a minimum, the value per failure is quite high for these two currencies. Whereas in other currencies, the cost per loss is meager, I have tested it a few times, it took so long for the casino to beat us completely, maybe they got the problem and don't want to waste time

I don't get your point, if you have any. It doesn't mean that a casino adding more cryptocurrencies would remove Bitcoin (BTC) and Ethereum (ETH). BTC and ETH will always be there as major options because they are the two leading cryptocurrencies. Which casino is stupid enough to only accept minor cryptocurrencies?

But it is always better for a casino to accept more than BTC and ETH. It doesn't hurt a casino if they add Litecoin (LTC), Ripple (XRP), Dogecoin (DOGE), etc.

Its indeed a nonsense thing for a casino on having no BTC and ETH or other top altcoin and just rather put up some low ranking coins instead?Its just nonsense to have that kind of action made in that case.

Of course, gambling sites will really be mainly putting up the coin on where this community mainly been supporting on which is BTC and its understandable when it comes or to look itself for demand.

Majority of sites now do offer multiple coins for them to choose from which is a giving a great convenience since you do have lots of options on what coin you would be using into your gambling.

Fundamentals Of

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Quote from: geegaw on March 25, 2021, 05:04:44 AM

Quote from: Fundamentals Of on March 23, 2021, 11:31:46 PM

Quote from: Wawa2013 on March 23, 2021, 10:47:07 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.

Losing a few users is better than making too little profit and not enough money for gambling activities because with two popular currencies like ethereum and bitcoin, casinos will always maintain a higher profit margin as casinos almost always set a low for betting and even at a minimum, the value per failure is quite high for these two currencies. Whereas in other currencies, the cost per loss is meager, I have tested it a few times, it took so long for the casino to beat us completely, maybe they got the problem and don't want to waste time

I don't get your point, if you have any. It doesn't mean that a casino adding more cryptocurrencies would remove Bitcoin (BTC) and Ethereum (ETH). BTC and ETH will always be there as major options because they are the two leading cryptocurrencies. Which casino is stupid enough to only accept minor cryptocurrencies?

But it is always better for a casino to accept more than BTC and ETH. It doesn't hurt a casino if they add Litecoin (LTC), Ripple (XRP), Dogecoin (DOGE), etc.

geegaw

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Quote from: Fundamentals Of on March 23, 2021, 11:31:46 PM

Quote from: Wawa2013 on March 23, 2021, 10:47:07 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.

Losing a few users is better than making too little profit and not enough money for gambling activities because with two popular currencies like ethereum and bitcoin, casinos will always maintain a higher profit margin as casinos almost always set a low for betting and even at a minimum, the value per failure is quite high for these two currencies. Whereas in other currencies, the cost per loss is meager, I have tested it a few times, it took so long for the casino to beat us completely, maybe they got the problem and don't want to waste time

michellee

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Quote from: Reatim on March 24, 2021, 10:40:49 PM

Quote from: ?? on ??

I started using TRX, they have minimal commission and fast transactions... I came to this conclusion because I often transfer USDT TRC20, by the way, it would be convenient to use it as deposit too, because the gaming platforms use USDT ERC20 with high commission... Wink

I have not tried this Yet but i have some Tron in my position now and willing to use for gambling as the price increases from the purchasing time of mine .
though i am afraid having this recently when some exchange delisted Tron in their platform for some reason that might be personal.
Also I love Litecoin and Dogecoin , when in terms of Gambling coins ,most specially that not the value of both coins increases from my investment last year.

Maybe you should not use Tron to gamble because the price increases from the price you bought Tron before. If you can sell at the exchange instead of using it for a gamble, you will make a profit and you can use that profit to buy doge and use it for gamble. I prefer to use dogecoin because that coin is available on many gambling sites, giving me more options to use any gambling site that I want. That is my suggestion for you but that will be up to you.

Reatim

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Quote from: ?? on ??

I started using TRX, they have minimal commission and fast transactions... I came to this conclusion because I often transfer USDT TRC20, by the way, it would be convenient to use it as deposit too, because the gaming platforms use USDT ERC20 with high commission... Wink

I have not tried this Yet but i have some Tron in my position now and willing to use for gambling as the price increases from the purchasing time of mine .
though i am afraid having this recently when some exchange delisted Tron in their platform for some reason that might be personal.
Also I love Litecoin and Dogecoin , when in terms of Gambling coins ,most specially that not the value of both coins increases from my investment last year.

Fundamentals Of

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Quote from: jrrsparkles on March 24, 2021, 10:49:15 AM

Quote from: Fundamentals Of on March 24, 2021, 08:40:40 AM

It is always better to attract all kinds of gamblers than just target a few ones. I have already said in my previous post in this thread that as far as big gamblers are concerned many of them won't probably care about transaction fees. But then those big gamblers only comprise the small minority of the entire population of gamblers. Many gamblers are still mindful of the high fees that are considered wasteful especially if there are available options to address that.

The competition among crypto gambling sites is also high so it matters that a certain casino is only offering BTC or ETH while others are offering a wider array of crypto options.

Its good but not every company have the same kind of approach towards their customers, for example if we take a look at Lambo then their targets are only billionaires and celebrities which is I wanted to say that the same kind of approach exists in the crypto gambling field as well and also they are successful better than others simply because their gambling experience is better.

As far as physical casinos are concerned, there are indeed many gambling casinos which cater only to the wealthy gamblers. There are a number of resort casinos all over the world which are exclusively enjoyed by elite gamblers who can afford to squander millions a night. But I do not observe the same in cryptocurrency gambling. Crypto casinos are mostly open to all although there are certain VIP tiers offered to big time gamblers. But then everybody can enter the casino and play.

What Lambo are you referring to? Is it lambo2btc.com?

Japinat

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Quote from: vintages on March 24, 2021, 06:47:40 PM

Quote from: imstillthebest on March 20, 2021, 04:45:28 AM

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 .

If a gambling website is only cut out for the so-called 'big gamblers', the site will lose out. A good gambling site should be able to accommodate both the rich, middle and beginner range of all players. And that means putting in coins that will favour all of them. Whether big or small gamblers, nobody likes to lose more coins to transaction fee for gambling purposes, when it can be gotten lower with another coin. So instead of having users leave your site for this, have it on your site. It's a win-win for both the site owner and players.

Small gamblers are the ones who are making a gambling site successful, big gamblers are just small in numbers and they could contribute to the profit of a casino but if they transfer a casino will lose an income but these small gamblers are mostly loyal, then gamble with small but it could generate a bigger volume and if some will transfer to another casino, gambling site will still survive for sure.

Small gamblers gambles with small amount, hence, the fees are really needed to be small.

vintages

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Quote from: imstillthebest on March 20, 2021, 04:45:28 AM

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 .

If a gambling website is only cut out for the so-called 'big gamblers', the site will lose out. A good gambling site should be able to accommodate both the rich, middle and beginner range of all players. And that means putting in coins that will favour all of them. Whether big or small gamblers, nobody likes to lose more coins to transaction fee for gambling purposes, when it can be gotten lower with another coin. So instead of having users leave your site for this, have it on your site. It's a win-win for both the site owner and players.

blockman

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Quote from: ?? on ??

I started using TRX, they have minimal commission and fast transactions... I came to this conclusion because I often transfer USDT TRC20, by the way, it would be convenient to use it as deposit too, because the gaming platforms use USDT ERC20 with high commission... Wink

Yes, TRX is fast in transactions and also can be considered as a good alternative. Those casinos that uses ERC20 for USDT can't stop the fee to stay at a higher rate.
The only solution is to use TRC20 if they want to minimize the fee if somebody wants to send USDT.

johhnyUA

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Quote from: walrusbite on March 20, 2021, 12:32:46 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?

Use TRX, he is fast enough.
Use Doge, it still has pretty low fees. Use especially MONERO (privacy + low fees and one of the main coins to use). In fact, any altcoin out of Bitcoin or Ethereum network will be suitable.

iv4n

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Quote from: ?? on ??

I started using TRX, they have minimal commission and fast transactions... I came to this conclusion because I often transfer USDT TRC20, by the way, it would be convenient to use it as deposit too, because the gaming platforms use USDT ERC20 with high commission... Wink

For sending USDT ERC20 you need to use 70k gas, and a few days ago for making a transaction I had to pay 0.027 ETH! It's just crazy!
On the other side, TRX is simply great for gambling, fast and cheap transactions! I use it for a long time! From recently and after BetFury promotions I use BNB a lot, really fast and cheap transaction!
Now, whenever I can I use BNB, TRX, LTC, Doge... anything is better than Bitcoin and Ethereum!

I see a discussion about high rollers and how they don't care about fees! I guess rich people can afford to pay extremely high fees all the time, but not all of them, the majority of people, rich or poor, don't like that at all!

jrrsparkles

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Quote from: Fundamentals Of on March 24, 2021, 08:40:40 AM

It is always better to attract all kinds of gamblers than just target a few ones. I have already said in my previous post in this thread that as far as big gamblers are concerned many of them won't probably care about transaction fees. But then those big gamblers only comprise the small minority of the entire population of gamblers. Many gamblers are still mindful of the high fees that are considered wasteful especially if there are available options to address that.

The competition among crypto gambling sites is also high so it matters that a certain casino is only offering BTC or ETH while others are offering a wider array of crypto options.

Its good but not every company have the same kind of approach towards their customers, for example if we take a look at Lambo then their targets are only billionaires and celebrities which is I wanted to say that the same kind of approach exists in the crypto gambling field as well and also they are successful better than others simply because their gambling experience is better.

Topic: Considering huge transaction fees, what coins to support on new gambling site? - page 6. (Read 1943 times)