Gambling with stablecoins, Fiat, or crypto? - page 13.

Kemarit

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Quote from: Abiky on July 10, 2024, 08:17:35 PM

The title says it all. Which currency do you prefer to use when betting? Is it stablecoins, good-old Fiat, or traditional cryptocurrencies such as Bitcoin or Ethereum?

Personally, I like to gamble with crypto not only because it's "KYC-free", but also because it represents freedom. The only downside is market volatility. Stablecoins always have their value pegged to Fiat (usually the USD), but they're too centralized and often lack investor protections or guarantees of any kind. And then there's the choice of Fiat, but most (if not all) casinos or gambling sites require you to reveal your personal ID (KYC) to use them. In some countries it's even illegal to gamble online. So crypto for me, is the true winner here.

How about you? Grin

It's a combination for me, if I go online, then I will used crypto's, seldom to I play with fiat unless it's necessary. But things have evolved lately, as we all know that Bitcoin fees in the last year or so are not that cheap so enter LTC or Doge as options as they are very quick.

However, if we and my friends play, we go to traditional based so I also enjoyed playing outside. With the atmosphere or the settings, with free drink, and then there is entertainment with the bunch of guys you know for so long. And then at the end of the day, you got drunk, lost money but enjoy that night.

Jating

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Quote from: Abiky on July 10, 2024, 08:17:35 PM

The title says it all. Which currency do you prefer to use when betting? Is it stablecoins, good-old Fiat, or traditional cryptocurrencies such as Bitcoin or Ethereum?

Personally, I like to gamble with crypto not only because it's "KYC-free", but also because it represents freedom. The only downside is market volatility. Stablecoins always have their value pegged to Fiat (usually the USD), but they're too centralized and often lack investor protections or guarantees of any kind. And then there's the choice of Fiat, but most (if not all) casinos or gambling sites require you to reveal your personal ID (KYC) to use them. In some countries it's even illegal to gamble online. So crypto for me, is the true winner here.

How about you? Grin

Of course, for us it's going to be crypto, however, most of the casinos right now requires you to do mandatory KYC so it's just the same now with fiat based. Probably it's just the question of online or offline. Traditional base offers flexibility in my opinion, specially if you win big money, you will be paid upfront no questions about it. As compare to crypto based casinos wherein we see a lot of complains, only a few but still there are casino that might take some time because they need to investigate it further blah blah blah.

But if we have been using crypto for years, then for sure, it could be the best, but as gamblers, we have options right now. And then we have stablecoins or any another altcoins as our choice specially if the tx fees are too high.

So for me it doesn't matter, as long as I can continue to gamble, I will take it in every shape or form.

Adbitco

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Leading Crypto Sports Betting & Casino Platform

Crypto is always the best option because they are less time consuming almost instantly than bitcoin, for instance, stake.com has lot of deposit options and you could get the preferred one to make your deposit without any delayed even though kyc is required it would be ideal to pass kyc before starting ones gambling adventure. The main point is to get reliable site to gamble if they are trusted and proven to fair enough while people used their platform fiat, stablcoin or crypto doesn't count the most important thing is quick deposit/withdrawal without much kyc restrictions.

iv4n

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Only crypto here... In my opinion, stablecoins are also crypto, they are centralized, but nobody sane holds stablecoins for too long. When I started I played only with BTC, then I tried many other coins & tokens. Some are very convenient for gambling, cheap & fast transactions allow us to move funds without losses. Some of them are especially good when BTC & ETH transaction fees start raging.

Lately, I play mostly with BTC. Now there are many different chains, we can move any coins with low fees. As you said, with crypto we have some freedom, we can play in many casinos without hassle. Deposits/withdrawals are fast and cheap, there is no waiting. So I don't think I will ever return to gambling with fiat...

mindrust

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I use litecoin or doge whichever is available.

I don’t use btc or eth because they have high fees. I lose a lot to the transaction fees while I can send ltc and doge nearly for free.

Stable coins are not even an option. They are available on many networks and it is easy to confuse them. I want to stay away from any form of FIAT too and it is because FIAT means regulation/kyc and stuff. Crypto means freedom. I value my freedom and privacy.

bering

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Before know online casinos i have already to gambling but not using physical casino or visiting land based casinos because this still illegal in my country but i have been gambling using fiat and usually PvP games and the game which i played usually traditional card between my friends but since i know online gambling i never done that again because online gambling was offering the easiest way to gamble without having to play face to face with your opponents and it's more comfortable for me even currently i was so often to gamble using cryptocurrency and usually the coin i used is bitcoin but since the fees became so high for each transactions then changed my habits now because i would be more prefer to gamble using stablecoins and the fees also quite cheap if gambling using this currency compared to bitcoin so compared to fiat, bitcoin or altcoins i think i personally more prefer to used stablecoins

_act_

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Lightning network is good with small amount of BTC

Quote from: kotajikikox on July 11, 2024, 01:49:53 AM

Quote from: Abiky on July 10, 2024, 08:17:35 PM

Personally, I like to gamble with crypto not only because it's "KYC-free", but also because it represents freedom. The only downside is market volatility.

Its volatility can also be an upside actually.

What I know is that the gambling sites are not KYC free even though the coins can be held on noncustodial wallet.

Quote from: kotajikikox on July 11, 2024, 01:49:53 AM

Imagine if you win some crypto and then its price hikes up, did you not only get profit from gambling but you also earned some profit from holding such crypto. There’s a lot of crypto out there not only bitcoin so if you think that bitcoin’s price is too high or too volatile you can always try to stick with much cheaper coins.

Bitcoin is less volatile than altcoins. Bitcoin price is too high should not be the reason you should go for altcoins because you can buy small amount of bitcoin and send it to the bitcoin address seen on your gambling site account. You can even send $10 worth of bitcoin to a gambling site to gamble. Make sure you check the minimum deposit for each coins and tokens.

Zlantann

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Quote from: Abiky on July 10, 2024, 08:17:35 PM

How about you? Grin

It will depend on the situation and the type of casino. Each time I want to have a good time with some gambling friends, the best place to gamble is physical casinos. Physical casinos are also good because you don't need KYC if you can deposit and receive wins in physical cash. And we all know that these types of casinos use fiat. But when it comes to online casinos my best option is crypto casinos because they offer faster service and privacy. Bitcoin used to be my preferred gambling cryptocurrency since I can easily have access to it. However due to the high transaction fees, converting my deposit to altcoins will be preferable since they have low transaction fees. Stablecoin would have been a good option since it is less volatile, but it is risky since it is a centralized coin.

dansus021

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Which currency do you prefer to use when betting? Is it stablecoins, good-old Fiat, or traditional cryptocurrencies such as Bitcoin or Ethereum? The answer would be a stabelcoin like usdt or usdc the reason behind this is crypro basically a pesudonym meaning you cant track easily and when using the old fiat it would be tracable in the bank history and second using regular fiat cost a lot of money in fee.

Using crypto is the best the fee is cheap you can used l2 network or cheap l1 network like tron and solana. Second you are using stablecoin meaning you can gamble without worrying the crypro going up and down and etc

kotajikikox

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Quote from: Abiky on July 10, 2024, 08:17:35 PM

Personally, I like to gamble with crypto not only because it's "KYC-free", but also because it represents freedom. The only downside is market volatility.

Its volatility can also be an upside actually.

Imagine if you win some crypto and then its price hikes up, did you not only get profit from gambling but you also earned some profit from holding such crypto. There’s a lot of crypto out there not only bitcoin so if you think that bitcoin’s price is too high or too volatile you can always try to stick with much cheaper coins.

Using fiat requires you to connect your bank or card or whatever payment method it is that has your fiat in it which typically in online casinos, not a lot of people appreciate.

Oshosondy

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Gamble responsibly

Quote from: Abiky on July 10, 2024, 08:17:35 PM

The title says it all. Which currency do you prefer to use when betting? Is it stablecoins, good-old Fiat, or traditional cryptocurrencies such as Bitcoin or Ethereum?

It depends on bitcoin mempool and the market. If bitcoin has fallen in price significantly or if I am expecting bull run after a strong massive bear market, I prefer to use bitcoin. If the mempool is less congested at the time, this would be the second reason that I will be encouraged to gamble with bitcoin.

But if the bitcoin mempool is congested, I will prefer to use USDT. Also during massive bull run when bear market is showing sign of coming, I prefer to use stable coins to gamble at that time.

GreatArkansas

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Quote from: Abiky on July 10, 2024, 08:17:35 PM

(...)
Personally, I like to gamble with crypto not only because it's "KYC-free", but also because it represents freedom. The only downside is market volatility.
(....)

How about you? Grin

Same here, recently, most of the currency I am using in multiple gambling platforms are just stablecoins only.
The advantage of it is we all know, the volatility in cryptocurrency, so even if your funds will stay for long in the gambling platform, it will be fine.
In fiat - I don't like most gambling platform here in our country that offers our fiat currency, different odds compared to cryptocurrency gambling platforms, so I am always using cryptocurrency.

bubilas

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Quote from: Abiky on July 10, 2024, 08:17:35 PM

The title says it all. Which currency do you prefer to use when betting? Is it stablecoins, good-old Fiat, or traditional cryptocurrencies such as Bitcoin or Ethereum?

Personally, I like to gamble with crypto not only because it's "KYC-free", but also because it represents freedom. The only downside is market volatility. Stablecoins always have their value pegged to Fiat (usually the USD), but they're too centralized and often lack investor protections or guarantees of any kind. And then there's the choice of Fiat, but most (if not all) casinos or gambling sites require you to reveal your personal ID (KYC) to use them. In some countries it's even illegal to gamble online. So crypto for me, is the true winner here.

How about you? Grin

I think that all gambling casinos and betting sites should have ways to replenish a deposit not only in Bitcoin and Ethereum, but also in stablecoins. After all, now this is the best way to transfer cryptocurrencies - there are many networks for transfer, they all send transactions quickly and very cheaply. It would also be nice if stablecoins had the ability to withdraw winnings.

satscraper

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Being the old-fashioned gambler who often visit the gambling shops I prefer fiat. Even when being online and using bitcoin in the course of my gambling the crisps (that might end up in my pocket) are always at the back of my mind because I feel fine with the paper money which never betrayed me.

electronicash

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its all just preferences of each.
i dont mind stablecoin being centralized, its fixed and i know how much id be losing if i lose all my bets unlike betting BTC or Eth that i maybe regreting when price goes higher.

taufik123

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Using Bitcoin or ETH would be my choice for gambling, but some people also use TRX as a gambling currency for the reason of the lower cost compared to BTC and ETH.

Crypto does offer a lot of options and price fluctuations can also cause profits and losses,
but choosing the top coins that are fairly stable will be safer in the long run.

Now the average gambling supports deposits, cryptocurrencies and even some cheaper and faster networks such as Lightning Bitcoin are a great choice for instant transactions and cheaper fees and small nominal.

Hatchy

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Quote from: Abiky on July 10, 2024, 08:17:35 PM

How about you?

It really depends on what platform you gamble. For those who gamble locally, that are only able to use fiat or local currencies to place bets. Online gambling provides a wider range of selection for gamblers, that why I see it as a more better gambling platform than the fiat. I may not be having cash but crypto or virtual currency so I just deposit through bank transfers or wallet deposits making the whole process lot more easier. For me, I only prefer using stable coin for my gambling activities since it's pegged to fiat and I don't have to worry much about the value of my initial deposit, dropping upon my return to gamble again.

crwth

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I mostly use Stablecoins because it's easy to see my balance growing. I use BTC as well because I'm looking at the growth in the amount of BTC that I have.

It's important to know that there's no complete advantage or disadvantage to using it right? Maybe the percentage or the minimum bet you could do unless the casino has nailed it down.

danherbias07

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Cryptocurrencies. Not also because of the KYC thing but I can set a very small amount when it comes to original games like Keno, Plinko, and Dice. The good thing is Stake.com allows a very low amount to gamble on those games and if you are using cryptocurrencies you can go lower than 1 cent of a dollar.
For those who like to just wager enough to achieve the weekly and monthly bonuses, this is a good thing for them and I am one of those who just want to play when it comes to casino games. I only put a higher amount of money when it comes to sports betting and slots.

aioc

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I always use Cryptocurrency and I prefer Bitcoin but if the fee is high and there's congestion, Trx, and Doge are my choice of altcoins to play, lately I've played on web3 casinos and I find it very convenient its fast and transaction is very low I prefer to use Solana if there is an option to pick your preferred chain.

The most important here whatever you're using is the trustworthiness of the casino you're playing, when playing with web3 pick the one that is audited by Certik or any other reputable auditor of smart contracts.

Topic: Gambling with stablecoins, Fiat, or crypto? - page 13. (Read 2414 times)