Topic: How do you deal with high transaction fee on BTC on gambling? (Read 578 times)

That's true, but in gambling industry it won't be good if we were allowed to spend much on fee. When it comes to withdrawal most of the platforms provide the fixed fee unlike the situation network congestion. At Times we will experience delay in the confirmation of the transaction whereas majority of the transaction used to get confirmed at the shortest time.

Casinos wont really be bothered about if the fees become that high because most of them are dynamic and not really having that free fees for those people who do make withdrawal this is why
this thing wont really be an issue.
Its true that on the time that bitcoin network does have that high fee then it would really be just that normal that you would really be making use of those coins which does have
less or cheap fees but if you are some sort of whale gambler then these few bucks wont really be a bothersome thing for you.
We know that it isnt really that too often for this market to have that high fees but if you would really be that mindful about those spendings then its your choice
but most gamblers would really be that mindful about fees and this is why they would really be making use of coins on which it does have cheaper fees.
We know that most gambling sites does have multiple options for the coins that they are accepting.

Casinos have a lot of leverage to deal with the fees, and its good that they are sticking with their withdrawal policy. The big concern here is when you deposit BTC the fees are high and that’s why I started to used alternative coins just to gamble with small amount. We know the fees are getting high if there’s a huge traffic and that is what happening right now, you should look for other options instead of dealing with a higher fees.

As OP is getting his gambling funds from signature campaigns in BTC, I don't think this should be a bad idea. I said it earlier and agree with you too that doing it for a longer period of time is not wise. But as the situation is out of our hands, we might as well take advantage of this. All you need to do is wait for the payment to arrive in your exchange account, convert it to other alts and then deposit it into the gambling platform. You are not keeping the asset in the exchange platform which decreases the risk of losing funds from that account.

But as this does not completely erase the possible risks, we should not do it for long. We can also just convert it into altcoins and then keep them in a personal wallet for later use. When the fees are back to somewhat normal, we can reverse the action by depositing alts into the exchange and then converting them into BTC to use. Risky but effective in this situation.

Have you noticed, that some casinos are very conservative about withdrawal cost of Bitcoin? Even though Bitcoin transaction fees are still expensive, or we could say higher than they were week or months ago, not some casinos have changed their withdrawal policy.

For example I want to deposit 0.001 BTC, that is around $44. Today, on December 10, using ledger live, it would cost me $59. $44 + 242sat/byte fee. All setting as app offers me. That is "slow" transaction. While if I would withdraw 0.001 BTC from casino, they would charge me with 0.000075 BTC for a slow withdrawal that might last for 24h. Casinos still use their old withdrawal fees.

Yes, there will always be a risk of placing funds with a third party, which is why it is not recommended to keep them there for too long unless there is a reason to just buy and sell or use the exchange as an exchange for other crypto which could possibly be used to finance the gambling you are doing, if at all. Bitcoin transaction fees are very high, there are still other options using other cryptos.

I've seen the exchange feature in casinos but for now I don't see it anymore even though this feature is very useful for gamblers who want to withdraw money from the casino to the exchange just to cash it into fiat money, that's why I hope that in the future this feature will be held again in In some casinos, if the Bitcoin withdrawal fee is very high, gamblers can exchange it for other cryptos on the casino site and withdraw using crypto which does have fairly cheap transaction fees.

Generally, people who have the option to gamble with other assets or have their Bitcoins on a platform where they can convert them to another coin and then use that for gambling, such people don't worry about transaction fees touching the sky if their only concern with the problem is regarding their gambling activities. But, since most people have their Bitcoins or assets kept in personal wallets, they can't even send them to an exchange because that will cost them a lot of money.

Other than that, a lot of people are not so much into gambling and they can easily wait until the congestion of the network goes away and the transaction fees start to become normal. It's only the addicts that will face a lot of problems if they use Bitcoin for gambling. Besides, who uses Bitcoin for gambling these days?

Yes we are currently noticing that Bitcoin transaction fees are extremely high. Despite the huge increase in Bitcoin transaction fees, people are not lagging behind in transactions. People are transacting just fine even though there are high transaction fees. But many people stop gambling due to high transaction fees. Meanwhile, I have a solution to continue gambling during the high transaction fees of the Bitcoin network, which is to use other altcoins such as: Litecoin, Dogecoin, BNB, USDT, etc. But in this case many people may say from where all these coins should be sent but of course I will say that all these coins must be bought from any exchange and sent. But the easiest thing for me is that I currently receive weekly payments from Signature Campaign directly to my Binance Exchange address. Due to the high transaction fees of the Bitcoin network, I changed the address at my own risk after talking to the campaign manager. Making unique coins for me has become much easier.

that's the dilemma if you will give an exchange address as you have no assurance what will happen to the platform at the time that you need to receive your btc. but yeah, i can somehow agree on this short-term approach, just keep an eye on the exchange itself, read news and announcements as they may have scheduled maintenance and of similar events on their platform.
other option is to convert your btc to other alts (given that it is already in a trading platform), and then just deposit the alts to the casino, check the accepted alts and of course the corresponding fees.

Here is a simple solution for this problem. I won't recommend using this for a long term but for the time being this can solve the problem temporarily. We get paid in Bitcoin that comes straight to the wallet that will provide. So if we provide a wallet address from an exchange, we get the payment directly in that exchange platform. Then we can exchange that Bitcoin into some other coins or tokens that those gambling platforms accepts. It will be fast and cheaper than Bitcoin.

But as I said this is not a permanent solution. As I am suggesting centralized platform, your assets could be in danger if anything happens to that platform. So you will have to take the risk. DYOR

That is a very smart option, in fact when we have these options in a casino it is much more comfortable, of course the thing about bitcoin transaction fees is something that is sometimes not understood, because I believed that this was going to be temporary , at least at least for 2 weeks, but it has been extended, this has brought certain problems to do things , personally I have Always said that when it comes to doing things more focused on Saving and Saving money , many ideas can be generated, among them, these, Of course, in Every casino there should be an internal exchange, where they also charge for the transaction fee, but sometimes it is not very good, because if there is not one in all casinos it is because the cases can be enough to not leave any profits. Of course I am Speculating this, I don't know what the reasons are for not Having an Internal exchange in the casino.

Now, when we do things, for Example , we have no idea how to attack the problem of Fees , it is not that it is not played, but rather to make a large Transaction so as not to be constantly putting up money, or having the money in a Reliable Exchange , although currently there are no reliable casinos so far, but still things should look like to have a good way to make an Exchange of BTC to USDT or any Other cryptocurrency so that it is Easier to play in any casino , that is What we can see is whether great things will be generated within a casino, now, if there is not, then there is nothing left but to assume the fee that is going to be made , try to recover it when playing , because it is that or nothing, the The altcouis is good, it's just that there are times that the eproans don't like to do anything with the altcoins, because they are not Trustworthy , there are people who only use bitcoin, and they don't like to exchange for the altcoins because they say that they lose , because how is the market It is very likely that this will happen , Especially those who are more Pro-bitcoin.

I think if you can't keep on playing gambling or you can't stop thinking about playing gambling, then maybe try the alternatives. Like others are saying, you can exchange your bitcoin for another coin that has lower transaction fees, but of course, make sure that coins are supported by the casino where you are playing. But if you still can't do that, then better stop gambling using your assets first because, as you are gambling, you are not sure if you will win or lose. If, for example, you lose, then your spending on transaction fees is a waste. So if you have other options for playing gambling, maybe use a gambling site that offers fiat money or currency. Anyway, it's not worth it to spend money or assets for high transaction fees. If you can, you could wait for a day or several days until the fees go down.

You are right because by having several coins in the casino, we can choose which coins we can use as deposit coins. That will make it easier for us to reduce transaction costs and we also don't need to use bitcoin as the deposit coin. That way, we can continue gambling as usual, only we use different coins than usual.

But to avoid any transaction costs, we should just take a break from gambling. That would be better because we can also avoid thinking about gambling, which can make us want always to deposit money at the casino.

Yes, that's true, that's why people sometimes make things too difficult for themselves even though in every casino, gambling site, not only bitcoin payments are available but also other altcoins, that's why there are altcoins available there to serve as an alternative when bitcoin transactions are busy and transaction costs become higher. high and expensive, it also happens with ethereum and maybe there are other alternatives such as LTC or other cryptos.

I use BNB if it's available or Matic if it's in the casino, sometimes whatever I use when I want to gamble where there is crypto with cheaper transaction fees which would be even better, Litecoin also has low fees especially XLM, but rarely XLm in casinos, although there are only special casinos that provide it, we all know that XLM has the lowest transaction fees whether in casinos or on exchange sites. 

We can use Altcoins mate that is as easy as that , though Bitcoin is one of the most used
currency in gambling but nowadays ? gambling sites  are accepting tons of altcoins even those cheapest one so
there are no really problem when the price of bitcoin increases so high in transaction fees.
some is ready for anything , from Bitcoin ,altcoins and Fiat some are even using credit/debt cards
so what should be the big issue in this topic, I think OP isn't really a gambler and just making thread to have posting counts.
That is correct Litecoin is good coin with so cheap transaction fee , and also OP can have other altcoins
to deposit and play.

Sorry to hear about that. Right now the mempool space is clogged with many unconfirmed transactions as a result of ordinals spam, thus it's becoming very frustrating to execute a transaction without paying through your nose. It's good that most casinos support deposits and withdrawals via other cryptocurrencies which is a relief, so you can get your account easily funded using USDT, TRX etc. Concerning Shuffle, I've not used it so I don't know if they support BTC deposit via LN, but if they do it would be a better alternative for Bitcoin lovers.

I do believe that it's not sustainable and it would hurt bitcoin as well but I also believe that there is a reason why that happens, which is why I am fine with it, I get that it may feel like that's a big deal but at the same time it's because the price is going higher. I mean we are talking about a situation that would not be all that easy to handle, but I believe that we are going to end up with something that would benefit us when the price is higher as well, which is the most important thing.

I do hope that we can fix it one day, and that should be an important thing, but that doesn't mean that we are going to end up with something that would benefit everyone, it is going to be something that will be both benefiting some, and hurting some other people. The ones who will benefit the most will be people who hold, because those people do not spend that much fee, they just buy and hold, and when it is time to sell the price is higher so they just pay easily.

My frequent deposit currency has always been fiat, and even as the transaction fee of Bitcoin has increased, it does not stop me from gambling. The best suggestion I will give is for the gambler to change their Bitcoin receiving address from their individual signature campaign. For example, you can add your casino's Bitcoin wallet address so that any time you receive your signature payment, you will just continue your gambling, or you can also use a sex wallet so that if you receive payment, you can just convert to Litecoin, whose fee is cheaper.

I think for some of us who are privileged to gamble on some reputable casinos that maintain stable low withdrawal fees even though there are high transaction fees demands from the networks,  this makes withdrawal very easy and fast for us.

But the high fees will have a tell on you if you making Bitcoin deposits and for that,  I think we can choose to deposit other coins if we deposit from our exchange wallet and not a personal wallet,  the current situation with the network is highly existing for small gamblers who make frequent deposits directly from the wallets.

I cope by sending batch transactions, making sure my transactions are small in bytes, by managing my addresses well and manually choosing the ones that get included in the transaction, which keeps fees at minimum. I also check fees on sites that show current queues, so that I pay the smallest amount that's enough to get my transaction confirmed in 6 hours.

You just have a bit of patience and some knowledge of how fees work to keep them at a level that's acceptable for you. If it still isn't despite all the above, try sending bitcoin through another network, like LTC if it's accepted in the casino.