Considering huge transaction fees, what coins to support on new gambling site? - page 7.

Fundamentals Of

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Quote from: jrrsparkles on March 24, 2021, 04:00:42 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.

But some of the gambling sites targets certain audience who can bet more means they are not going to care about paying 10 dollar as a transaction fee for their transaction to be confirmed but yeah it all depends on the casinos and who are their targeted players.

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.

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Quote from: jrrsparkles on March 24, 2021, 04:00:42 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.

But some of the gambling sites targets certain audience who can bet more means they are not going to care about paying 10 dollar as a transaction fee for their transaction to be confirmed but yeah it all depends on the casinos and who are their targeted players.

If the casino can add many altcoins as the option, that will benefit both sides, the casino and the members, because the members can deposit the coin they like. The casino will benefit from many gamblers that will register on their site because the casino gives more options on the altcoin as the deposit and withdrawal. I guess the casino is already aware of this, and they are trying to add more altcoin selection to gamble.

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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?

I am very vocal about DOGECOIN and RIPPLE eversince as those are the coins i used specially XRP when the coin is still in rank 3.

Quote from: ?? on ??

It annoys a lot of gamblers with the high transaction fees when gambling using BTC, there are times that you have won a small amount of BTC in a certain game but it only covers the transaction fees especially if you use BTC. On my part I am using XRP and Doge whenever I gamble, these are the altcoins that have not too big of transaction fees, most of the gamblers are avoiding huge transaction fees so they prefer most of the time those altcoins.

But now that many support from XRP has already withdrawn , I think our chances of using is very limited .
and also there are cases when the exchanges are now not selling or accepting XRP and that limits us all.

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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.

But some of the gambling sites targets certain audience who can bet more means they are not going to care about paying 10 dollar as a transaction fee for their transaction to be confirmed but yeah it all depends on the casinos and who are their targeted players.

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Quote from: ?? on ??

It annoys a lot of gamblers with the high transaction fees when gambling using BTC, there are times that you have won a small amount of BTC in a certain game but it only covers the transaction fees especially if you use BTC. On my part I am using XRP and Doge whenever I gamble, these are the altcoins that have not too big of transaction fees, most of the gamblers are avoiding huge transaction fees so they prefer most of the time those altcoins.

Even more annoying that the value of Bitcoin has risen very high and will probably continue to rise thus transferring a small amount of BTC for any transactions will consume lot of fees same with transaction gas for sending tokens from ERC20 wallet these are issues that needed to be addressed even if other altcoins is adopted by gambling firms it will take before gamblers will adapt to it having been conversant with BTC and eth.

Fundamentals Of

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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.

Wawa2013

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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.

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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?

It's the other way around which are small gamblers who are taking fees instead seriously compare to big or heavy gamblers.

These big gamblers can afford to pay fees and most of the time, they are making big deposits as one way to save fees in their future deposits. Small gamblers on the other hand have no choice but to do the same instead of doing deposits by batches.

USDT is one of the good choices we have.

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Quote from: ?? on ??

Litecoin is mostly popular in every gambling platforms so is Dogecoin despite being a troll coin it still has a huge marketcap. Unlike BTC/ETH they're Blockchain networks are not congested by transactions, so it will not affect your profits when withdrawing and get caught up with fees.

You got a point, Litecoin is more cheap transaction fees. But there are also some gambling platforms that still don't support some altcoins, like Litecoin or Dogecoin.
But overall, if you have your funds or some other altcoins on the exchange and want to gamble, the best to use are these kinds of altcoins to save more fees on sending on the gambling platforms, and on withdrawal too (if withdrawal is not free).

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Quote from: harizen on March 23, 2021, 07:49:54 PM

Quote from: blackened515 on March 23, 2021, 06:20:25 PM

so many clients loosing customers because of high fee,

Where did you get this information? Can you give an example? Like what sites etc.

If I'm not mistaken, top and famous gambling sites, even with high transaction fees involving those top coins, don't seem to show that it totally affects the number of their users. These gamblers are aware of the current fees and hopeful that someday there's a way it can be lowered in the future but if they really want to gamble, fees are nothing with them.

I do like to know as well on where you do get those informations because majority of gambling sites now does have dynamic fees which means it would really be depending

on the networks situation.All of gambling sites now does have lots of coins to choose from which means it wont be a hassle to play gambling if you do like too.

Its true that high fees is pain in the ass specially in bitcoin but we can always wait or skip out.

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Quote from: carlfebz2 on March 22, 2021, 06:46:49 PM

1. Nano: $0 fees, 0.14 seconds for confirmation
2. Digibyte: $0.0005 fee, 5 minutes to confirm
3. Bitcoin SV: $0.00055 fee, 7 days to confirm.
4. XRP: $0.00078 fee, 4 seconds to confirm.
5. Bitcoin Cash: $0.0024 fee, 2.5 hours to confirm.
6. Stellar: $0.004 fee, 4 seconds to confirm.
7. Dash: $0.0043 fee, 15 minutes to confirm.
8. Litecoin: $0.041 fee, 30 minutes to confirm.
9. Monero: $0.0696 fee, 30 minutes to confirm.
10. Doge: $0.239 fee, 20 minutes to confirm.

Some numbers arent accurate but you can tell the difference.
Source: https://medium.com/nanocurrency/cryptocurrency-fee-comparison-which-crypto-has-the-lowest-fees-4e9118590e1f
Just mentioned above ^ most of platforms now offering lots to choose from.

Probably any coin which is not on the Bitcoin blockchain or Ethereum network.
Usually, I make Bitcoin or Eth transaction, and many time very frustrate me not only high fee also long time waiting for confirmation. And always have been surprised when I realise that TRX, XRP, XLR... transaction confirmed/finished almost instantly.

I remember some old-time and Plinko game, where every game I make a new Bitcoin transaction, and everything works fine. Cry

harizen

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Quote from: blackened515 on March 23, 2021, 06:20:25 PM

so many clients loosing customers because of high fee,

Where did you get this information? Can you give an example? Like what sites etc.

If I'm not mistaken, top and famous gambling sites, even with high transaction fees involving those top coins, don't seem to show that it totally affects the number of their users. These gamblers are aware of the current fees and hopeful that someday there's a way it can be lowered in the future but if they really want to gamble, fees are nothing with them.

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Quote from: bbc.reporter on March 23, 2021, 12:51:04 AM

Why are there many people in the forum always suggest XRP? There is a lawsuit against Ripple and its founders for sales of illegal securities.

It's because gamblers don't care about a regulation problem of a certain coin as long as they will get cheap fees when depositing crypto to their preferred crypto gambling sites. I understand as the XRP fee is handy.

And even with the lawsuit, XRP is still listed on good exchanges that's why more people still use them. Even with a lawsuit, I don't think that will be a problem for a crypto-gambling site if they will accept is one of their payment methods. With more options to pay, more users will likely switch to that site.

blackened515

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Most gambling site uses low transaction fee coins, the higher fee in ethereum and Bitcoin is rapidly getting high at the moment, so many clients loosing customers because of high fee, there are new gambling are that integrate more of the low trx coins, betnomi is a new site though that has xrp, doge, dash, trx, btc, and eth., These coins are faster in transactions with no obstructions.

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Quote from: AmoreJaz on March 22, 2021, 07:21:38 PM

never had an experience with nano, even in the trading aspect. but this is nice to know. i believe casinos should integrate this coin. dont know also any gambling site with nano coin in their payment method. they can charge a lil bit if they want to but it may reduce their earnings if they will use this coin esp if they have internal exchange. Tongue

the usual reco is doge, ltc, xrp, eos and trx.

It's just an underdog altcoin but it's quick and free for a transaction. But it's hard to gain popularity because many are into bitcoin already. I agree that I'm also into bitcoin and would say and suggest that from time to time.
That might be the reason why we're seeing a few of it accepts it because they can't get commission because of the known description of it.

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Quote from: Kong Hey Pakboy on March 23, 2021, 01:13:05 AM

Quote from: bbc.reporter on March 23, 2021, 12:51:04 AM

Why are there many people in the forum always suggest XRP? There is a lawsuit against Ripple and its founders for sales of illegal securities. It is also centralized. I reckon the best altcoins for new sportsbooks to begin accepting are Litecoin, Monero and Dogecoin.

XRP as far as I know has the lowest transaction fees but yeah you are right that lawsuit is a problem. The problem with new sportsbook is that they are not as established as the other sportsbook so you will have a problem with trust for awhile. Doge might be a good alternative.

Rather than use XRP to gamble, we have the other altcoins that can suit us to gamble and even if those coins are not too low than XRP, the coin does not have a problem with the lawsuit. That will help us avoid the problem in the law, while we can still use it for playing gambling. Dogecoin will be the best coins to gamble as the price is not too high, and in the first time creation, Dogecoin is for a meme and fun only.

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Quote from: Fundamentals Of on March 22, 2021, 10:08:01 AM

It depends. There are probably sites which are transparent as to which specific coin is being commonly used.

In terms of really big gamblers, I think many of them do not mind much the transaction fees. A few dollars for them is insignificant especially if they want their transactions to get prioritized.

Think of big gamblers in fiat. They are not different. And they don't mind paying very expensive stuff in the world's most popular resort casinos to experience the best in gambling.

I see some people are suggesting you about BNB; I mean I get that it is a centralized coin but many casinos have XRP, that is a coin where the creators can print any amount of coin they want and make themselves rich, sell all of them and print again if they want to, it is as centralized as it gets and it is funny that people assume it could be played on a casino but BNB can't be.

At least BNB is used for something and a good coin and ranked very high now as well, and nobody is investigating them, XRP is under threat of SEC right now and could go down even more, that is why I do not think that people should invest all this money into XRP and gamble with it, they should do that with BNB. The cost is about half a dollar and it is nearly instant as well, there is no waiting time, so you could add that to the list of things people could play with and casinos could add to make it faster.

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Quote from: bbc.reporter on March 23, 2021, 12:51:04 AM

Why are there many people in the forum always suggest XRP? There is a lawsuit against Ripple and its founders for sales of illegal securities. It is also centralized. I reckon the best altcoins for new sportsbooks to begin accepting are Litecoin, Monero and Dogecoin.

XRP as far as I know has the lowest transaction fees but yeah you are right that lawsuit is a problem. The problem with new sportsbook is that they are not as established as the other sportsbook so you will have a problem with trust for awhile. Doge might be a good alternative.

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Why are there many people in the forum always suggest XRP? There is a lawsuit against Ripple and its founders for sales of illegal securities. It is also centralized. I reckon the best altcoins for new sportsbooks to begin accepting are Litecoin, Monero and Dogecoin.

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Quote from: harizen on March 22, 2021, 07:27:12 PM

Quote from: Fundamentals Of on March 22, 2021, 10:08:01 AM

In terms of really big gamblers, I think many of them do not mind much the transaction fees. A few dollars for them is insignificant especially if they want their transactions to get prioritized.

Think of big gamblers in fiat. They are not different. And they don't mind paying very expensive stuff in the world's most popular resort casinos to experience the best in gambling.

Agree and as I mentioned before, regardless of the fees, hard sports bettors (honestly, even with casual bettors), won't mind the fees as long as they can able to place their preferred bet at the right time. They will just do everything to win to somehow cover the fees they spent.

After all, we are not talking about over $50 in fees "regularly". Just refrain doing cheap transactions like for example less than $100 per deposit.

Hard sports bettors and casino gameplayers will never look for the fee. Most of the time the deposits were made instantly, unlike the currency. The incoming deposits fee will be adjusted by the gambling platforms, and this isn't happening with every gambling site but there are sites doing it to keep the player active and continue gambling without break.

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