Is this possible? - page 5. | Bitcointalksearch.org

shield132

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Quote from: Perfectbaby on November 13, 2024, 03:11:32 PM

Okay, I wanted to make a deposit to a gambling site and having it withdrawn to our native currency.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?

Some crypto casinos offer you crypto swap where for example, you can exchange your Bitcoin in USDT or choose any other pair you wish. I think that the majority of crypto casinos offer swaps with cryptocurrencies and not with fiat, especially the Nigerian Naira but I think that there is a chance there might be some casinos that may offer that service. Have a look if there is any crypto casino based in Nigeria or if there is one that highly prioritizes Nigerian gamblers. Usually, casinos that are very focused on specific countries, also offer more unique services that are well-matched for local gamblers.

A couple of years ago, Binance had their own casino and it was possible to transfer money from Binance to its casino and back again, then you could withdraw any currency from Binance's withdrawal system.

Cryptomultiplier

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Quote from: Russlenat on November 14, 2024, 02:38:23 AM

I think the features available on a website can vary depending on where we access it from.
I did some research on your concern, and I found that it's actually possible with Stake through MoonPay.

https://support.moonpay.com/customers/docs/moonpays-supported-currencies
NGN - Nigerian Naira is supported, so try to explore this option and let us know.

Yes, the moon pay app supports some gambling platforms and can be used to exchange crypto currencies to Fiat or vice versa. Still, it means that gambling platforms may have to rely on exchange services if they got to allow funding of their gambling account in cryptocurrency and that is an upgrade for major gambling sites, but I doubt such gambling platforms are accessible from every region.

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Quote from: Perfectbaby on November 14, 2024, 01:11:54 AM

It would be great for casinos or gambling site to enable this feature to allow gamblers have withdrawal from any currency of their choice and if that must be activated let it be that there will be some wagering requirements to permits them withdraw from other currency of their choice.

I know they can do this and might take a little stress to implement it to their site, maybe just some adjustments or something so, can help improve the entire gambling system.

Gambling sites should adjust their platform to enable gamblers makes withdrawals on their choice currency. This will reduce conversion fees and enhanced Trust and transparency. Gambling markets especially the online platforms should see this as a way to cater to a broader audience as this will encourage people global to access their platform without fear of either withdrawal is strictly restricted to bitcoin , USDT and the native currency of a particular gambling country.

Russlenat

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I think the features available on a website can vary depending on where we access it from.
I did some research on your concern, and I found that it's actually possible with Stake through MoonPay.

https://support.moonpay.com/customers/docs/moonpays-supported-currencies
NGN - Nigerian Naira is supported, so try to explore this option and let us know.

SmartGold01

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Quote from: Upgrade00 on November 13, 2024, 04:54:09 PM

Quote from: Zwei on November 13, 2024, 04:30:45 PM

most crypto casinos do not offer fiat withdrawals. you would need to find a local fiat casino that supports crypto deposits but credits your balance in local currency.

Except it's a recent casino which was created specifically for crypto, we have lots of casinos that allows withdrawals and deposits in both crypto and fiat but they have to comply with anti money laundering policies so users will only be able to withdraw in a specific currency they make deposits in.

There are some that will allow a crypto swap but I have not used a casino that allows deposits in crypto and withdrawal in fiat.

You think that is possible?
I have never seen a casino and gambling site that allows swap between currencies except I didn't read widely to come across it, if is dex I can say is very much possible where a gamblier would have to swap to the coin of their choice before making deposit to the gambling site to continue their gambling.
It's always hard difficult for casino to have this functionality were a gambler deposit a specific amount with crypto currency and have them withdrawn from the casino using fiat payment methods, and even if that happens to be then I don't think people will patronized exchange that much because they will always visit the casino to have their deal done instead of using exchange.

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Quote from: davis196 on November 14, 2024, 02:05:27 AM

Quote from: Perfectbaby on November 13, 2024, 03:11:32 PM

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?

This is a crypto gambling forum. We discuss crypto casinos here. I don't know about any crypto casino allowing withdrawals in Nigerian Naira.
You should take a look for local fiat online casinos in your country(I don't know anything about online fiat gambling in Nigeria, maybe there aren't such casinos in your country, I'm not sure).
What do you want to do? Do you want to launder money? Do you want to exchange some currency(crypto of fiat) for Nigerian Naira? There are money exchange services for that purpose and I think that you would risk losing your money, if you deposit them in a casino and play a game or two.

No plans for that mate lol.
Just that most times with the stress having to deposit cryptocurrency in to gambling site and have it withdrawn back from the gambling site to exchange, and due to the government regulations with exchange that offers p2p it will be ideal for a cryptocurrency casinos to also allow people make withdrawal through their choice of currencies after winnings. With this it would be more easier for us that live in a more strict country that are facing some regulations issues. So do not think the negatives or having in mind that is about money laundering.

Cryptomultiplier

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Quote from: Perfectbaby on November 13, 2024, 03:11:32 PM

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?

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.

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Quote from: Perfectbaby on November 13, 2024, 03:11:32 PM

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?

I haven’t seen any gambling site with that setup yet. I’ve tried it on exchanges like Binance, though, since they have a P2P feature. I can send crypto, and the buyer sends me digital cash that I can withdraw from any ATM here, or even deposit directly to my bank account.

With crypto casinos, that’s probably not available because they’re strictly crypto. If they added a fiat option, they’d likely need another license altogether-- like a fiat casino license, which I imagine has stricter requirements than a crypto-only license.

davis196

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Quote from: Perfectbaby on November 13, 2024, 03:11:32 PM

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?

This is a crypto gambling forum. We discuss crypto casinos here. I don't know about any crypto casino allowing withdrawals in Nigerian Naira.
You should take a look for local fiat online casinos in your country(I don't know anything about online fiat gambling in Nigeria, maybe there aren't such casinos in your country, I'm not sure).
What do you want to do? Do you want to launder money? Do you want to exchange some currency(crypto of fiat) for Nigerian Naira? There are money exchange services for that purpose and I think that you would risk losing your money, if you deposit them in a casino and play a game or two.

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Quote from: un_rank on November 13, 2024, 03:19:04 PM

Most casinos only allow you to withdraw through the channel you deposited in. So if you deposit crypto (BTC for example) you will only be able to withdraw through that exact currency (BTC) you made the deposit through.

You should move this to the gambling discussion board.

- Jay -

You are right and from my experience so far in gambling I have never seen any gambling site that allows people to make withdrawal through another channel after having made deposit through other channels. Let me take for example the landbase casinos, if you deposit fiat definitely the person has to withdraw fiat back whenever there is winning from the gambler.

Except this would be a new concept from the gambling site nowadays because it's actually hard for people to use gambling site as exchange or mixers, if you look carefully you would see that op is having an idea of mixers were he needs to make deposit of cryptocurrency and have it withdrawn through another channels.

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Quote from: Perfectbaby on November 14, 2024, 01:11:54 AM

I know they can do this and might take a little stress to implement it to their site, maybe just some adjustments or something so, can help improve the entire gambling system.

but just because those gambling sites does not have what you are looking meaning they are not improving , for some reason maybe they are preventing something like abuse or maybe government regulations so they chooses not to add those policy and to their system .

But hope one day there will be this option not just because we wanted this but because this is what will save some gases or fees for each gamblers .

Perfectbaby

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Quote from: Charles-Tim on November 13, 2024, 03:35:47 PM

Quote from: Perfectbaby on November 13, 2024, 03:11:32 PM

Is it possible to happened and is there any gambling platform permits that?

None that I know of. Stake recently supported deposit and withdraw in naira but if you deposit in naira, you will only be able to withdraw in naira.

What I also know is that if you are able to deposit a coin on a gambling site and withdraw in another coin, that does not mean you will be able to use it to exchange into your local currency.

Though was thinking this is possible because often time when I gamble and I won, the winning will be displayed to that specific currency I deposited instead of showing on a neutral ground in form of permissable to have it withdrawn in any currency that I wanted.

It would be great for casinos or gambling site to enable this feature to allow gamblers have withdrawal from any currency of their choice and if that must be activated let it be that there will be some wagering requirements to permits them withdraw from other currency of their choice.

I know they can do this and might take a little stress to implement it to their site, maybe just some adjustments or something so, can help improve the entire gambling system.

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Most casinos I have played on don’t have that kind of swapping currencies because I have tried as well, but they have different pricing and wallets per account per currency. If you enable that in a casino, I think it would be like an exchange, and they don’t want to be classified as an exchange in my Observation.

It might cause them problems in the long run if they do that.

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Quote from: Perfectbaby on November 13, 2024, 03:11:32 PM

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?

I think there is some casino that has exchange option so that's what you wanted to find but the problem is you cannot directly deposit crypto to withdraw in your local currency .
just find a casino that there is a conversion option so your target will be fulfilled .

cryptoaddictchie

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Quote from: Perfectbaby on November 13, 2024, 03:11:32 PM

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?

On a crypto gambling site possibly not but maybe if you have your own native country legit gambling site this is possible.

As far as I know none so far can make that. But in our country we have an app there you could withdraw to your fiat money and then deposit to bank. Its an ecash money that support crypto trading too however they got some third party apo that works like gambling site got some slots and more.

Waiting also if gonna support some crypto deposit.

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Maybe you first look at the casinos operating in your locality. They might have support for both Fiat and BTC. To be honest, I haven't seen a crypto casino support withdrawal of fiat currencies like NGN. They purposefully avoid fiat currencies so that they are away from the eye of Regulators and Law enforcement who can easily accuse them of money laundering like it has already happened with some crypto exchanges.

Alternatively, you know the drill.
1. Get your favourite p2p exchange.
2. Get your favourite crypto casino.

BABY SHOES

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Quote from: Stalker22 on November 13, 2024, 05:44:46 PM

Quote from: BABY SHOES on November 13, 2024, 04:43:51 PM

Here's what I don't know... Are there any casinos that allow fiat withdrawals after depositing using crypto... I don't think this feature exists yet and I haven't seen anyone successfully doing it.
~

There are some fiat casinos that accept crypto deposits. In that case, your crypto will be converted to fiat currency by their payment provider at the current exchange rate. Your casino balance will then be in fiat currency. Typically, you can withdraw fiat funds to your bank account, but there will be a wagering requirement before you can do so.

Owh are there casinos that allow this feature? Honestly, I mostly visit casinos on forums so that's what I know... if there is a fiat casino and it accepts crypto deposits... and then converts to fiat that would be very useful, if they want to make withdrawals to local currency.

Is the wagering requirement something like 40x wagered or smaller? Roll Eyes

Or are the requirements unknown to me?...
Like there has to be wagered in fiat currency... then you can withdraw. ?

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Quote from: BABY SHOES on November 13, 2024, 04:43:51 PM

Here's what I don't know... Are there any casinos that allow fiat withdrawals after depositing using crypto... I don't think this feature exists yet and I haven't seen anyone successfully doing it.
~

There are some fiat casinos that accept crypto deposits. In that case, your crypto will be converted to fiat currency by their payment provider at the current exchange rate. Your casino balance will then be in fiat currency. Typically, you can withdraw fiat funds to your bank account, but there will be a wagering requirement before you can do so.

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What's the casino that you're talking about? If NGN is supported for their fiat deposits and withdrawals, it's possible as long as you'll be able to convert your crypto inside their platform. Usually, casinos now have their integrated exchanges where you can convert crypto<->fiat if they support and allow that but I think not all. But this kind of thing you've mentioned has got some eyes not just with the casino but also with the AMLA.

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Quote from: Zwei on November 13, 2024, 04:30:45 PM

most crypto casinos do not offer fiat withdrawals. you would need to find a local fiat casino that supports crypto deposits but credits your balance in local currency.

Except it's a recent casino which was created specifically for crypto, we have lots of casinos that allows withdrawals and deposits in both crypto and fiat but they have to comply with anti money laundering policies so users will only be able to withdraw in a specific currency they make deposits in.

There are some that will allow a crypto swap but I have not used a casino that allows deposits in crypto and withdrawal in fiat.

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