Topic: Gambling with stablecoins, Fiat, or crypto? - page 14. (Read 2415 times)
In my particular case, I prefer fiat poker rooms because the traffic and software, as well as the security (not only of your account but also anti-bots and collusion) cannot be compared with crypto rooms. When I have played casino games with crypto I prefer only Bitcoin because as I play for a short time (typically to test a room I am advertising) I don't care about the possible price fluctuations in the short term.
I still use Bitcoin to betting although I also use stable coins. But mostly, I use Bitcoin. Using crypto to gambling is indeed "KYC free" but we should know that casino can asks us to do KYC anytime. Casinos can asks us to do KYC when we wants to withdraw our money.
But when the market is down, using Bitcoin or other crypto will not be good for me. In that situation, I will moves to use stable coins so I will not gets the effect of the volatility. I never use fiat because I don't wants to use my bank account to deposit the money to the casino.
The bank can track all of my transaction and if they see I use my bank account to deposit in the casino, they can do many things including closing my account. Crypto is my solution and I will still use crypto to playing gambling.
But when the market is down, using Bitcoin or other crypto will not be good for me. In that situation, I will moves to use stable coins so I will not gets the effect of the volatility. I never use fiat because I don't wants to use my bank account to deposit the money to the casino.
The bank can track all of my transaction and if they see I use my bank account to deposit in the casino, they can do many things including closing my account. Crypto is my solution and I will still use crypto to playing gambling.
I do both fiat and crypto depending on the availability.
The downside of gambling using bitcoin or ether is the volatility and the high cost of transaction fees so i turned to XRP as sending XRP is almost instant and the fee is very minimal.
On the other hand, here in our country, there is this app where you can conveniently bet\gamble using fiat but you have to give up your KYC, that's the only downside on my part.
The downside of gambling using bitcoin or ether is the volatility and the high cost of transaction fees so i turned to XRP as sending XRP is almost instant and the fee is very minimal.
On the other hand, here in our country, there is this app where you can conveniently bet\gamble using fiat but you have to give up your KYC, that's the only downside on my part.
Since I gamble in crypto enabled platforms, even if they have the option of fiat deposit, I do not give it a thought because I prefer crypto given the ease and peace of mind it offers. I do not feel comfortable entering my card details into different online platforms. Furthermore, gambling platforms have different different crypto deposit options of which I chose that which have less fees and faster confirmation time. However, despite the deposit options, I prefer seeing my balance in dollars to be able to properly manage my gambling in terms of amount to gamble with per round and also my target to win.
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?
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?
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