Gambling with stablecoins, Fiat, or crypto? - page 6.

khiholangkang

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Quote from: yudi09 on August 08, 2024, 11:20:44 AM

Quote from: khiholangkang on August 08, 2024, 10:38:32 AM

Of course using crypto is something that is a favorite in doing online gambling, this is like what you said from the various benefits, but why talk about other things if we really like using crypto as a gambling tool, yes cheap is something that is always the main transaction, like on the BNB network or on TRX, I like to do bets using crypto.

Stablecoins and fiat are my two choices for gambling because both are easier.
Fiat is the one I make deposits with most often even though gambling is not as free as people do because of the applicable regulations. As an active gambler, crypto casinos are more interesting because winnings in the form of stablecoins can be withdrawn and converted to fiat.

Does that mean you are indirectly depositing fiat using your bank account to gamble?

talking about conversion you can do it easily, usually if you use crypto there is always an estimated value of stablecoins or fiat in your casino account, if you want to convert and withdraw you can do it on the exchange, but that's good and I'm not trying to corner you, you are quite brave and I think everyone has their own habits and goals, whether using fiat, stablecoins and crypto for gambling activities.

nullama

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Quote from: bering on July 11, 2024, 03:11:05 AM

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

Yeah at the end of the day it means that the money that you are spending is actually something real.

It doesn't really matter if it is USDT or Bitcoin or whatever, at the end of the day it is money.

So, I think most people should just think twice before gambling away all their money.

yudi09

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Quote from: khiholangkang on August 08, 2024, 10:38:32 AM

Of course using crypto is something that is a favorite in doing online gambling, this is like what you said from the various benefits, but why talk about other things if we really like using crypto as a gambling tool, yes cheap is something that is always the main transaction, like on the BNB network or on TRX, I like to do bets using crypto.

Stablecoins and fiat are my two choices for gambling because both are easier.
Fiat is the one I make deposits with most often even though gambling is not as free as people do because of the applicable regulations. As an active gambler, crypto casinos are more interesting because winnings in the form of stablecoins can be withdrawn and converted to fiat.

khiholangkang

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Quote from: Z_MBFM on August 08, 2024, 09:09:33 AM

Quote from: Odohu on July 10, 2024, 08:29:32 PM

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.

If you want to gamble with a small amount of money then crypto is the best option because in this case you will get different types of coins where the withdrawal fee is very low. In the case of stablecoins, the benefits are also high, but here the withdrawal fee will be slightly higher. Fiat Money I never like for gambling because when you go to deposit with bank card you face many kinds of problems and you get less limit but in case of crypto you get unlimited limit and using crypto you can gamble completely anonymously so I always use crypto. Like and use more for gambling

Of course using crypto is something that is a favorite in doing online gambling, this is like what you said from the various benefits, but why talk about other things if we really like using crypto as a gambling tool, yes cheap is something that is always the main transaction, like on the BNB network or on TRX, I like to do bets using crypto.

As far as I know Crypto gambling I have never thought of using fiat in my gambling activities so far, right what you say, it is quite lazy to provide banking data, because it will refer to our identity, it is better to avoid it.

SmartGold01

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Quote from: Agbe on August 08, 2024, 04:40:16 AM

Quote from: SmartGold01 on August 08, 2024, 04:30:57 AM

Quote from: Agbe on August 08, 2024, 04:10:55 AM

Guys you can't go away with fiat even though we are in cryptocurrency world. The only thing you can say is that, as $weetne$$ said, crypto make the transaction faster but if you don't have cryptocurrency asy the time of deposit won't you use the Fiat? We should be realistic sometimes. Assuming you have one half dollar in your account and the minimum deposit is one dollar. Will you deposit it to the casino or you use it to buy crypto first before depositing? I don't know if you have deposited and play games because these are clear things to understand. I have deposited fiat and deposited crypto and I have seen the two differences. As I said crypto is fast in transaction or deposit.

People just to understand things here most times they makes it looks as if when there were no crypto how did they made deposit online to gamble? Of course they were using fiat to gamble because, the only reason where I think fiat is bad is that when you make huge win and send directly to your bank account you could be questioned about your source of money, and at that time your account could be locked but with cryptocurrency to any amount you sent to you wallet there would be no questioning on how you received those amount from or not. Both are good be it fiat or cryptocurrency the fact is mind which to chose and when choosing them make sure to have passed all the kyc requirement from casino's.

Most of them are not even gamblers and they are making comments because they are promoting gambling or casinos and they don't know how cryptocurrency works in the industry. Normally I have not withdraw with fiat because the process is cumbersome and delay so I always convert it to crypto before making the withdraw. And I only deposited with fiat. But even crypto is faster and more secure than fiat, we should not neglect fiat because we might use it one day. And after withdrawing it to the exchange, you will still use fiat so fiat is vet important with crypto.

The both operate with each others like we can't mentioned cryptocurrency without the need for fiat because after whatever they have traded and gambled with, we must need cash to as the finished end to spend within our homes. But if cash aren't valued then how do we spend it at our place now that cryptocurrency is largely and legally accepted as a means of legal tender does it mean that we should scrape cash away from us?
No this is not possible so, when we mentioned cryptocurrency the next thing should be in our minds is fiat because even as us who uses NGN before acquiring Cryptocurrency we must first touched our fiat to cryptocurrency so why then the suddenly dislike on fiat or stablecoin.

Z_MBFM

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Quote from: Odohu on July 10, 2024, 08:29:32 PM

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.

If you want to gamble with a small amount of money then crypto is the best option because in this case you will get different types of coins where the withdrawal fee is very low. In the case of stablecoins, the benefits are also high, but here the withdrawal fee will be slightly higher. Fiat Money I never like for gambling because when you go to deposit with bank card you face many kinds of problems and you get less limit but in case of crypto you get unlimited limit and using crypto you can gamble completely anonymously so I always use crypto. Like and use more for gambling

Oluwa-btc

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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. 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? ;

Well before crypto came into existence,Fiat currency have been the major means of exchange and people find it easier to gamble with it but looking at how cryptocurrency has evolved and changed the economy and society making it at ease and more comfortable to use and in the aspect of privacy and security it's safe so I'll say I rather prefer the both in betting especially Bitcoin.

Your description of KYC free really meant freedom from what your saying and yes crypto currency exchange has more value than Fiat cause of it's decentralized Nature which makes it topnotch but it's okay to go with both Fiat and crypto in gambling,and again definitely go for something that's comfortable and suitable for you.

Agbe

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Quote from: SmartGold01 on August 08, 2024, 04:30:57 AM

Quote from: Agbe on August 08, 2024, 04:10:55 AM

Guys you can't go away with fiat even though we are in cryptocurrency world. The only thing you can say is that, as $weetne$$ said, crypto make the transaction faster but if you don't have cryptocurrency asy the time of deposit won't you use the Fiat? We should be realistic sometimes. Assuming you have one half dollar in your account and the minimum deposit is one dollar. Will you deposit it to the casino or you use it to buy crypto first before depositing? I don't know if you have deposited and play games because these are clear things to understand. I have deposited fiat and deposited crypto and I have seen the two differences. As I said crypto is fast in transaction or deposit.

People just to understand things here most times they makes it looks as if when there were no crypto how did they made deposit online to gamble? Of course they were using fiat to gamble because, the only reason where I think fiat is bad is that when you make huge win and send directly to your bank account you could be questioned about your source of money, and at that time your account could be locked but with cryptocurrency to any amount you sent to you wallet there would be no questioning on how you received those amount from or not. Both are good be it fiat or cryptocurrency the fact is mind which to chose and when choosing them make sure to have passed all the kyc requirement from casino's.

Most of them are not even gamblers and they are making comments because they are promoting gambling or casinos and they don't know how cryptocurrency works in the industry. Normally I have not withdraw with fiat because the process is cumbersome and delay so I always convert it to crypto before making the withdraw. And I only deposited with fiat. But even crypto is faster and more secure than fiat, we should not neglect fiat because we might use it one day. And after withdrawing it to the exchange, you will still use fiat so fiat is vet important with crypto.

SmartGold01

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Quote from: Agbe on August 08, 2024, 04:10:55 AM

Guys you can't go away with fiat even though we are in cryptocurrency world. The only thing you can say is that, as $weetne$$ said, crypto make the transaction faster but if you don't have cryptocurrency asy the time of deposit won't you use the Fiat? We should be realistic sometimes. Assuming you have one half dollar in your account and the minimum deposit is one dollar. Will you deposit it to the casino or you use it to buy crypto first before depositing? I don't know if you have deposited and play games because these are clear things to understand. I have deposited fiat and deposited crypto and I have seen the two differences. As I said crypto is fast in transaction or deposit.

People just to understand things here most times they makes it looks as if when there were no crypto how did they made deposit online to gamble? Of course they were using fiat to gamble because, the only reason where I think fiat is bad is that when you make huge win and send directly to your bank account you could be questioned about your source of money, and at that time your account could be locked but with cryptocurrency to any amount you sent to you wallet there would be no questioning on how you received those amount from or not. Both are good be it fiat or cryptocurrency the fact is mind which to chose and when choosing them make sure to have passed all the kyc requirement from casino's.

hedgeh0g

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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

Crypto is convenient to use, but if we are going to bet for a long time, we must take into account the volatility of crypto. We also need to analyze for ourselves at a minimum level where the market pendulum will move. After the analysis, we can decide for ourselves that there will be a fall in the market with a high degree of probability, and transfer our assets to stablecoins for betting. And on the contrary, if a bull cycle is expected, then I would prefer not to bet with cryptocurrency. In fact, it is convenient for all this.

Agbe

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Quote from: Taskford on August 08, 2024, 03:52:14 AM

Quote from: $weetne$$ on August 08, 2024, 02:43:46 AM

Quote from: Agbe on August 07, 2024, 11:08:09 AM

All the ones Op listed are good to deposit and it is good to use the most easiest one and that I think is the fiat. And why in most time I chose Fiat is because it is transaction free. But in cryptocurrency, you have to pay for the transaction fee. But if I don't have cash in the fiat bank the. I use bitcoin foe the deposit and the two transactions I have carried out in the gambling process, it is the bitcoin transaction that is more faster than the Fiat transaction.

Better you always use cryptocurrency when gambling with a Bitcoin casino because you will get your deposit faster and as for the fees, there is no congestion on the Blockchain for the fees to be high therefore you can pay very small transaction fees that would not cost you so much. When there is congestion on Bitcoin Blockchain, you can make use of other cryptocurrency with lesser fees listed on the casino. I also prefer to use stable coins because it gives me assurance that my deposit amount will remain the same and not change due to the market being volatile. I enjoy gambling with cryptocurrency and do not like fiats that much. The last time I used a fiat currency for gambling was when I was gambling on a fiats based casino and I can see the difference between both types of casinos.

Fiat would provably out of the selections since we are dealing with cryptocurrencies and I guess most of the bettor choose volatile or stable coins depends on the situation.

Since for example if there's heavy traffic happening in the network then most provably that BTC or ETH deposit option will be out since for sure majority of gamblers don't want to push thru to used and just pay huge fee just to make their transaction fast to be credited on their casino wallets. So what I think in that situation usually gamblers would select stable coins since this erase their worries about huge fees and network clogged and they can gamble without getting stress by other unnecessary things.

Guys you can't go away with fiat even though we are in cryptocurrency world. The only thing you can say is that, as $weetne$$ said, crypto make the transaction faster but if you don't have cryptocurrency asy the time of deposit won't you use the Fiat? We should be realistic sometimes. Assuming you have one half dollar in your account and the minimum deposit is one dollar. Will you deposit it to the casino or you use it to buy crypto first before depositing? I don't know if you have deposited and play games because these are clear things to understand. I have deposited fiat and deposited crypto and I have seen the two differences. As I said crypto is fast in transaction or deposit.

Mr. Magkaisa

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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

- For me, there is no problem if I submit KYC if I win a large amount in a casino. It's just that I have never experienced winning a large sum of money. As long as it's reputed and regulated,
it's not a big deal to me if I even submit KYC.

Now, when playing gambling here in cryptocurrency, I often use real cryptocurrency and stablecoins that I use to bet on slot games and nothing else; that's all.

Taskford

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Quote from: $weetne$$ on August 08, 2024, 02:43:46 AM

Quote from: Agbe on August 07, 2024, 11:08:09 AM

All the ones Op listed are good to deposit and it is good to use the most easiest one and that I think is the fiat. And why in most time I chose Fiat is because it is transaction free. But in cryptocurrency, you have to pay for the transaction fee. But if I don't have cash in the fiat bank the. I use bitcoin foe the deposit and the two transactions I have carried out in the gambling process, it is the bitcoin transaction that is more faster than the Fiat transaction.

Better you always use cryptocurrency when gambling with a Bitcoin casino because you will get your deposit faster and as for the fees, there is no congestion on the Blockchain for the fees to be high therefore you can pay very small transaction fees that would not cost you so much. When there is congestion on Bitcoin Blockchain, you can make use of other cryptocurrency with lesser fees listed on the casino. I also prefer to use stable coins because it gives me assurance that my deposit amount will remain the same and not change due to the market being volatile. I enjoy gambling with cryptocurrency and do not like fiats that much. The last time I used a fiat currency for gambling was when I was gambling on a fiats based casino and I can see the difference between both types of casinos.

Fiat would provably out of the selections since we are dealing with cryptocurrencies and I guess most of the bettor choose volatile or stable coins depends on the situation.

Since for example if there's heavy traffic happening in the network then most provably that BTC or ETH deposit option will be out since for sure majority of gamblers don't want to push thru to used and just pay huge fee just to make their transaction fast to be credited on their casino wallets. So what I think in that situation usually gamblers would select stable coins since this erase their worries about huge fees and network clogged and they can gamble without getting stress by other unnecessary things.

Lidger

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Locals usually gamble with local currency but I don't use gambling sites that are used by local people in my country. I don't always choose trusted casino institutions to gamble and I use all these crypto currencies including USDT, Bitcoin to gamble. Using all these currencies makes me feel like a true gambler. Maybe if I had not joined the forum I would not have known about all these trusted casino or gambling sites then maybe I would have been forced to use local gambling sites for gambling.

It doesn't matter whether a gambler uses local currency or crypto currency to gamble, the most important thing is whether the gambler can gamble with the right strategy. If a gambler can gamble properly even using local currency, I would appreciate his work.

$weetne$$

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Quote from: Agbe on August 07, 2024, 11:08:09 AM

All the ones Op listed are good to deposit and it is good to use the most easiest one and that I think is the fiat. And why in most time I chose Fiat is because it is transaction free. But in cryptocurrency, you have to pay for the transaction fee. But if I don't have cash in the fiat bank the. I use bitcoin foe the deposit and the two transactions I have carried out in the gambling process, it is the bitcoin transaction that is more faster than the Fiat transaction.

Better you always use cryptocurrency when gambling with a Bitcoin casino because you will get your deposit faster and as for the fees, there is no congestion on the Blockchain for the fees to be high therefore you can pay very small transaction fees that would not cost you so much. When there is congestion on Bitcoin Blockchain, you can make use of other cryptocurrency with lesser fees listed on the casino. I also prefer to use stable coins because it gives me assurance that my deposit amount will remain the same and not change due to the market being volatile. I enjoy gambling with cryptocurrency and do not like fiats that much. The last time I used a fiat currency for gambling was when I was gambling on a fiats based casino and I can see the difference between both types of casinos.

delfastTions

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Quote from: Abiky on August 07, 2024, 08:54:51 PM

Quote from: ethereumhunter on August 06, 2024, 07:26:51 AM

Even governments will not be able to verify its members, government can asks the casino to apply verification to their members and force the casino to follow their suggestion. We don't know how strong the government that can push some business to follow the government wants so that will makes the casino will change their rules. We as a member of some casinos will not have any choice except following the casino rules but we can reject the verification by searching and moving to the other casinos.

Even you use XMR or private wallet, if casino asks you to verify your account, and casino will do that for all of their members, you should follow what the casino wants. Gambling with privacy coins can protect you but we know how the government works so the government can force the casino to reveal their members identity to search for illegal things in that casino. We can only trying to use crypto playing gambling and we must take care of ourselves while playing gambling. If we think that playing gambling using small money is enough to prevents the completed verification, we can do that so we don't have to send any verification to the casino.

Governments will only be able to enforce KYC on centralized casinos or gambling sites. But what about truly-decentralized gambling dApps built by anonymous developers? Governments will have a hard time trying to verify the identities of gamblers using such dApps. I know centralized gambling will always be the leading force of the industry. But that doesn't mean it'll be the end of private and decentralized gambling. They will turn into a viable alternative for those who need it the most.

I choose to gamble with crypto because of the many benefits it provides. Even if market volatility leaves me with less profit in Fiat terms. Just keep all of the proceeds in crypto (never cash out or convert to Fiat), and the "taxman" will leave you be. Who knows how the crypto gambling industry will evolve in the future?

In my opinion, it is also much preferable to use cryptocurrency, especially if you are familiar with it and have used it for many years before.
The issue with KYC, of course, can arise, but only in the case when we are talking about some large winnings. And of course, this requirement to undergo verification according to the KYC procedure can be put forward by the casino suddenly and you did not expect it. You just need to somehow remember this and be prepared. But in any case, millions of players in the world prefer to gamble anonymously, and if centralized casinos, apparently, following the requirements of regulators, almost all will introduce KYC over time (if they have not already done so), then decentralized Services can probably do without KYC for a long time.
And by the way, the flow of people who want to gamble anonymously - it will not decrease, but rather, on the contrary, will increase. So such decentralized Services have incentives for development.

Abiky

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Quote from: ethereumhunter on August 06, 2024, 07:26:51 AM

Even governments will not be able to verify its members, government can asks the casino to apply verification to their members and force the casino to follow their suggestion. We don't know how strong the government that can push some business to follow the government wants so that will makes the casino will change their rules. We as a member of some casinos will not have any choice except following the casino rules but we can reject the verification by searching and moving to the other casinos.

Even you use XMR or private wallet, if casino asks you to verify your account, and casino will do that for all of their members, you should follow what the casino wants. Gambling with privacy coins can protect you but we know how the government works so the government can force the casino to reveal their members identity to search for illegal things in that casino. We can only trying to use crypto playing gambling and we must take care of ourselves while playing gambling. If we think that playing gambling using small money is enough to prevents the completed verification, we can do that so we don't have to send any verification to the casino.

Governments will only be able to enforce KYC on centralized casinos or gambling sites. But what about truly-decentralized gambling dApps built by anonymous developers? Governments will have a hard time trying to verify the identities of gamblers using such dApps. I know centralized gambling will always be the leading force of the industry. But that doesn't mean it'll be the end of private and decentralized gambling. They will turn into a viable alternative for those who need it the most.

I choose to gamble with crypto because of the many benefits it provides. Even if market volatility leaves me with less profit in Fiat terms. Just keep all of the proceeds in crypto (never cash out or convert to Fiat), and the "taxman" will leave you be. Who knows how the crypto gambling industry will evolve in the future?

Huppercase

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Quote from: ethereumhunter on August 06, 2024, 07:26:51 AM

Even you use XMR or private wallet, if casino asks you to verify your account, and casino will do that for all of their members, you should follow what the casino wants. Gambling with privacy coins can protect you but we know how the government works so the government can force the casino to reveal their members identity to search for illegal things in that casino. We can only trying to use crypto playing gambling and we must take care of ourselves while playing gambling. If we think that playing gambling using small money is enough to prevents the completed verification, we can do that so we don't have to send any verification to the casino.

It's pointless to gamble with a casino that has your kyv verified and then you went ahead and make withdrawal of xmr request like where is the sense in that for using such coin. You have already broken your privacy the momem you accepted to do kyc on the casino. It will even do you more good to request for usdt withdrawal than doing privacy coins as it will raise suspicions more when you are known and you decided to hide your privacy again.

It's just impossible to see a casino that doesn't ask you for KYC, you must do it before you can used their service on a full scale and even if you are allowed to used their service, a time will come when you will be ask to do it else you wouldn't be allowed to withdraw your funds and with some situations we have seen with some casino, they rarely accept kyc after a customer has won a huge amount, they do that to avoid paying out.

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Quote from: TheUltraElite on August 07, 2024, 09:35:39 AM

Now comes in the casinos which allow deposits in all types of coins and are become KYC abled. Lot of changes in the last decade.

I am a player who will always be Pro-Anonymous and privacy-preserved, and it's like you say, there are things that have changed a lot, but I do not agree that most casinos require KYC, unless it has to do with crypto, especially BTC, if we look aside the war against privacy coins are a fact, or in which casino is any accepted? in no casino, and which exchange accepts it? Monero was taken out of Binance, so I do not agree, because why more control? the money that is put in a casino, anywhere, should not be known by any government or third party entity.

cabron

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Quote from: TheUltraElite on August 07, 2024, 09:35:39 AM

We are in a bitcoin forum, so it is crypto all the way.

Back in 2015 most casinos were bitcoin-centric, eventually altcoins started pouring in and they had to accommodate those too. Then came stable coins and the urge to view balances in fiat currencies, casinos did that too.

Now comes in the casinos which allow deposits in all types of coins and are become KYC abled. Lot of changes in the last decade.

Few casinos are still KYC-free. There's got to be some casino owners who still think of the freedom to enjoy although they are limited to some games and not going to be into sports because if they do, they will have to comply with the laws. They are slowly getting demonized by users so there are people who are just going to ask how high when the government wants them to jump.

But it's got to be true that they need to comply with the laws since crypto is not regulated but at least a certain amount shouldn't be coerced to submit when it's just pennies.

Topic: Gambling with stablecoins, Fiat, or crypto? - page 6. (Read 2444 times)