As far as I know, online casinos do not support this option. This is because in this case, the cryptocurrency casino actually functions as a cryptocurrency exchanger. This could theoretically lead to problems with regulators, as in some countries, exchange operations are a business that requires a special license.
There may also be isolated situations where, thanks to such operations, an online casino can be involved in criminal schemes. Cryptocurrency casinos are not interested in such situations. The online casino business is not a business of laundering criminal funds, but a business of providing services in the field of organizing gambling.
This is a profitable enough business to risk it due to additional dubious operations (or operations that can potentially be considered dubious and suspicious).
Topic: Is this possible? - page 2. (Read 701 times)
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Maybe that is possible but I never tried it because that can trigger my bank to investigate from where the money comes. They can contact me and ask me furthermore so there will be no suspicious from them. But still, they will mark my account especially if they found that money is come from the casino and that will be a matter of time they can block my account.
It is better to send your win money from casino to your private wallet and use the third party to converting your coin and send it to the exchanges. After that, you can sells the coins and withdraw to your bank account. I think that will be safe for you because the transaction come from the third party unless they investigate the third party and ask about that.
It is better to send your win money from casino to your private wallet and use the third party to converting your coin and send it to the exchanges. After that, you can sells the coins and withdraw to your bank account. I think that will be safe for you because the transaction come from the third party unless they investigate the third party and ask about that.
Is this possible? to withdraw to your local native currency the answer is yes it is possible but most of the casinos are only able to withdraw from your money/crypto you deposited in, so for example if you deposit bitcoin or eth than you withdraw using bitcoin or eth. Tho is always best to use stablecoin like USDT, USDC, or DAI.
But there is casino that able to swap from one currency to another but usually it will cost you a lot and the withdraw to local currency is hard if your country dint really regulate the gambling/casino
But there is casino that able to swap from one currency to another but usually it will cost you a lot and the withdraw to local currency is hard if your country dint really regulate the gambling/casino
They are not trading sites with P2P trades so you can exchange them for your own country's currency. You will have to find a local wallet or local application that accepts cryptocurrencies and also exchange it for your own cash.
There's an exchange that accepts exchanging cryptocurrencies to another which is called Dinabot, most Stake.com gamblers are using this application but it's not supported by Stake.com so you will have to take your own risk upon doing it. I've tried it twice though and everything went smoothly but there's a fee for every exchange that you will make.
If I were you, I'd rather send the cryptocurrency to Binance or some known trading site and then exchange it for your own cash. Mostly done in P2P trade.
There's an exchange that accepts exchanging cryptocurrencies to another which is called Dinabot, most Stake.com gamblers are using this application but it's not supported by Stake.com so you will have to take your own risk upon doing it. I've tried it twice though and everything went smoothly but there's a fee for every exchange that you will make.
If I were you, I'd rather send the cryptocurrency to Binance or some known trading site and then exchange it for your own cash. Mostly done in P2P trade.
In my opinion, you need to use all possible strategies here. First, you need to carefully study the rules again. The rules are slightly different in different casinos. Therefore, after reading the rules, you can sometimes find something interesting there that will help you solve your problem. Second, try to contact the support service and discuss your problem with them well. Find out what they tell you. This will be the most authoritative opinion. Third, if nothing helps, try to treat it as an expensive lesson. Try to play for the amount you deposited, but as carefully and responsibly as possible. This is a unique experience.
Okay, I wanted to make a deposit to a gambling site and having it withdrawn to our native currency.
For instance; If i deposit Cryptocurrency and gamble and with I win can i be able to withdraw my winning through NGN?
Is it possible to happened and is there any gambling platform permits that?
First, no need to stress yourself, just focus your energy on gambling well and winning then send the money to your crypto exchange and easily withdraw your crypto to NGN.For instance; If i deposit Cryptocurrency and gamble and with I win can i be able to withdraw my winning through NGN?
Is it possible to happened and is there any gambling platform permits that?
What you are requesting is almost impossible unless the bookie operates in Nigeria and also accepts both crypto and NGN for payments. Such an arrangement may happen but still, it is against the Anti-Money Laundering Act, the money must go back to the originating wallet. This makes it more difficult unless the casino is not duly registered and regulated in Nigeria.
Okay, I wanted to make a deposit to a gambling site and having it withdrawn to our native currency.
For instance; If i deposit Cryptocurrency and gamble and with I win can i be able to withdraw my winning through NGN?
Is it possible to happened and is there any gambling platform permits that?
Actually as far as I know I think if you deposit bitcoins in your gambling platform and win bet then you can withdraw bitcoins you can't exchange any other coins or your local currency. However, if you can deposit your local currency on a gambling platform that has the option to deposit, you may be able to withdraw in your local currency, and you cannot convert or withdraw to your local currency by depositing bitcoins or other cryptocurrencies. For instance; If i deposit Cryptocurrency and gamble and with I win can i be able to withdraw my winning through NGN?
Is it possible to happened and is there any gambling platform permits that?
Okay, I wanted to make a deposit to a gambling site and having it withdrawn to our native currency.
For instance; If i deposit Cryptocurrency and gamble and with I win can i be able to withdraw my winning through NGN?
Is it possible to happened and is there any gambling platform permits that?
The last thing on my mind is how to deposit with Fiat and also withdraw in fiat. There's so much convince in using crypto that I don't want to put myself through the stress. This is not about me though and I think it is very good question brought up to be talked about. For instance; If i deposit Cryptocurrency and gamble and with I win can i be able to withdraw my winning through NGN?
Is it possible to happened and is there any gambling platform permits that?
The possibility of this to happen is to use any casino that serves people in your country. Before you do it if that's your intention ask from people who deposit a d withdraw through NGN. Ask them about the risks and the benefits.
Okay, I wanted to make a deposit to a gambling site and having it withdrawn to our native currency.
For instance; If i deposit Cryptocurrency and gamble and with I win can i be able to withdraw my winning through NGN?
Is it possible to happened and is there any gambling platform permits that?
For instance; If i deposit Cryptocurrency and gamble and with I win can i be able to withdraw my winning through NGN?
Is it possible to happened and is there any gambling platform permits that?
Why would you want to withdraw in your local currency when the casino prefers cryptocurrency become of the fastness of the transactions and the transparency that cryptocurrency have. With you local currency, there might be volatility affecting the rate that your withdrawal are being converted. You can try some local casino that accept cryptocurrency but also have options of withdrawing to your local currency. I think there will be some casinos that offer this but do not expect them to be strictly Bitcoin casino. To trade cryptocurrency to your local currency can be done on some exchanges that allow your local currency to be traded therefore, just receiving the cryptocurrency and later trade them to your countries fiats will be better.
Okay, I wanted to make a deposit to a gambling site and having it withdrawn to our native currency.
For instance; If i deposit Cryptocurrency and gamble and with I win can i be able to withdraw my winning through NGN?
Is it possible to happened and is there any gambling platform permits that?
You must withdraw if Casinosite permits your local currency. However, most casinos generally do not accept local currency. However, if you withdraw in Bitcoin or other approved cryptocurrencies, you shouldn't have a problem. For instance; If i deposit Cryptocurrency and gamble and with I win can i be able to withdraw my winning through NGN?
Is it possible to happened and is there any gambling platform permits that?
However you will find some local casino sites that accept your local currency. However, all temporary unlicensed casinos are requested to refrain from making deposits for the time being. Or you can invest at your own risk so that you cannot be held responsible in the event of any subsequent fraudulent activity against you. But always remember that it is better not to invest in unlicensed unpopular casinos.
Okay, I wanted to make a deposit to a gambling site and having it withdrawn to our native currency.
For instance; If i deposit Cryptocurrency and gamble and with I win can i be able to withdraw my winning through NGN?
Is it possible to happened and is there any gambling platform permits that?
it depends on what withdrawal method of the platform so I believe that if your home country currency is not being placed to the platform I don't think that you will withdraw it directly to your account mostly gambling platforms do accept to make a withdrawal directly to usdt instead of a native currency but I don't know if they have modernized the method of withdrawal which you can input your country currency and withdraw directly from your gambling account to your particular country account currency, probably if that will work that should be a new invention concerning a withdrawal method in a particular gambling website they will be scarce for now before you can find out such thing to take place For instance; If i deposit Cryptocurrency and gamble and with I win can i be able to withdraw my winning through NGN?
Is it possible to happened and is there any gambling platform permits that?
For instance; If i deposit Cryptocurrency and gamble and with I win can i be able to withdraw my winning through NGN?
For that to work the casino would have to be an exchange. In most countries you need a license to work as a foreign currency exchange and you also need a license to operate a casino.
That's why online casinos that start as crypto businesses often don't accept fiat money, but casinos that used to operate on fiat like bookies start to accept crypto and combine both worlds.
Just look for a casino that accepts your currency and check if they have a crypto deposit option. I don't know any Nigerian casinos so I won't help you with that.
these regulations are usually expensive for someone to get
same in Brazil, now the market is cornered for those who have a lot of money
it's crazy
there are no casinos that are kyc free and accept crypto? I think rollbit is probably a good option for them, maybe they'll need a vpn though
Okay, I wanted to make a deposit to a gambling site and having it withdrawn to our native currency.
For instance; If i deposit Cryptocurrency and gamble and with I win can i be able to withdraw my winning through NGN?
Is it possible to happened and is there any gambling platform permits that?
For instance; If i deposit Cryptocurrency and gamble and with I win can i be able to withdraw my winning through NGN?
Is it possible to happened and is there any gambling platform permits that?
Of a truth it's quite a hard task to do and it's definitely not possible for you to make deposits with a currency and withdraw with another, cause doing that would seem like the user might be involved in some theft acts and doesn't want a trace to them from the funds deposited or withdrawn, so it's better of to use same currency for deposit to gamble and for withdrawals as well.
Okay, I wanted to make a deposit to a gambling site and having it withdrawn to our native currency.
For instance; If i deposit Cryptocurrency and gamble and with I win can i be able to withdraw my winning through NGN?
Is it possible to happened and is there any gambling platform permits that?
Yes, you can withdraw your winnings in a casino in Nigerian naira. Some of the casinos allow withdrawals in your native currency and accept deposits in crypto. B.C. Game is one of big name that will provide you with the service( not sure about its specific service about NGN, please DYOR). However, it's better to check each and every casino's terms and conditions related to deposits and withdrawals. Some casinos accept deposits in crypto and allow withdrawals in fiat, but there are others that will use the same method for withdrawal as you used for the deposit. This means if you choose to deposit in crypto, your withdrawal will also be in crypto. But you are looking for NGN, it would be better to find a casino that supports NGN. For instance; If i deposit Cryptocurrency and gamble and with I win can i be able to withdraw my winning through NGN?
Is it possible to happened and is there any gambling platform permits that?
If the focus is on crypto casino sites I think we all must be aware that for deposits or withdrawals it is possible only for crypto such as bitcoin or some other crypto assets according to the policies of the site itself so it will be difficult if you try to force to withdraw with local money. While that may be the case, I've never encountered that for the crypto casinos I'm playing at the moment.
But on the other hand, I still feel comfortable with this option because in the end I use crypto to gamble because I find it more practical than depositing or withdrawing with local currency because if the purpose is for local currency we only need to use the exchange without being on the gambling site.
But on the other hand, I still feel comfortable with this option because in the end I use crypto to gamble because I find it more practical than depositing or withdrawing with local currency because if the purpose is for local currency we only need to use the exchange without being on the gambling site.
For instance; If i deposit Cryptocurrency and gamble and with I win can i be able to withdraw my winning through NGN?
For that to work the casino would have to be an exchange. In most countries you need a license to work as a foreign currency exchange and you also need a license to operate a casino.
That's why online casinos that start as crypto businesses often don't accept fiat money, but casinos that used to operate on fiat like bookies start to accept crypto and combine both worlds.
Just look for a casino that accepts your currency and check if they have a crypto deposit option. I don't know any Nigerian casinos so I won't help you with that.
I have visited several gambling sites, especially crypto-affiliated casinos. And from all the gambling sites I have visited, they only allow withdrawals to the account address you provide when you register and make a deposit. In other words, the casino has a limit of only one account per account. And maybe this is a policy that every casino should follow to prevent money laundering through gambling.
And considering how strict the regulations are regarding transferring or exchanging cryptocurrency to fiat currency in many countries for security reasons, I don't think it is possible for a casino to issue a new policy that one can withdraw in fiat currency even if one makes a deposit using crypto.
And considering how strict the regulations are regarding transferring or exchanging cryptocurrency to fiat currency in many countries for security reasons, I don't think it is possible for a casino to issue a new policy that one can withdraw in fiat currency even if one makes a deposit using crypto.
It seems that there are already many answers given in this thread, but with this thread I also have a question because I previously wanted something from a gambling site or platform. Something I want is a conversion feature even if it's only for crypto and not fiat, because in the past it seems like I saw a platform or gambling site that has that feature but I forgot the name of the site. Or maybe, there is still a gambling site that has a crypto to crypto conversion feature, because I've been busy enough to look for it. After all, at least I quite often want to use other crypto to bet. For example, I have a btc balance but I want to use ltc to bet, thus it seems like it would be easy for me if there are gambling sites that have such conversions.
There's no shortcut to convert crypto to Fiat where there aren't any P2p options available on the gambling platform.
The emergence of cryptocurrency has enabled several businesses come up to suit its needs and just as gambling platforms are specific about gambling activities, exchanges are specific about crypto trading ad P2p trades and that's why they have license and are regulated to avoid confusion and prevent money laundering in the system.
The casino doesn't need to have the P2P option before they could be able to make it withdrawal through fiat, as long as fiat deposit is also allowed in the casino. If they go to enable that, they can just as some casinos allow conversion from one crypto to the other before they can place their bet or the auto conversion the casino does to USDT or their preferred currency, but for security reasons and to reduce the risk of being used for money laundering, I believe it's among the reasons why casinos prefer withdrawal to be done the same way deposit was carried out. The emergence of cryptocurrency has enabled several businesses come up to suit its needs and just as gambling platforms are specific about gambling activities, exchanges are specific about crypto trading ad P2p trades and that's why they have license and are regulated to avoid confusion and prevent money laundering in the system.
Yes it is but it's not quite common in a couple of cases. Different casinos have their different terms and conditions. This is the more reason why it is important to go through the casinos terms and condition before gambling on their site. Some casinos have the option of two sections which are usually the crypto casino and the fiat version too. For some other casinos they actually merge both so you can probably swap within them.
I have seen a casino before that you can deposit a coin but your balance will be in United States dollar or in the fiat currency that you set it but you will not be able to withdraw fiat, although you can withdraw the coin in any other cryptocurrency or in the cryptocurrency that you used to deposit on the site. But getting to the point of depositing coins and withdrawing fiat, I have not seen this in any casino before. Which casino do you know that does this? Jump to: