Topic: Many cryptocurrencies — how important is that for you in casinos? (Read 845 times)
If it is applicable to play with some unusual coins, tokens that I have, I play with them first and I really don't care that much if that losses, but if I play using bitcoin, ethereum and ripple, that gives me more excitement and hope to earn profitable and decent winnings. Meaning to say that various cryptocurrency you used in gambling does really affect your excitement depending on the value of the particular crypto you are using. In addition, depending on the feature of that crypto such as low transaction fees in terms of withdrawal.
Bitcoin is my favorite, but lately I choose ETH because the fees are lower when it comes to withdrawing. According to the reviews, I'm considering trying Tron because they have said that the rates are still lower than ETH, and therefore I can Hold both. Casinos by offering these altcoins are looking for better alternatives for their clients.
However I am convinced that Bitcoin will always be the favorite anywhere and the most requested coin.
However I am convinced that Bitcoin will always be the favorite anywhere and the most requested coin.
Hi guys!
Still playing with bitcoins? Or have you switched to TRON or Ripple?
Anyway, every crypto has its own benefits but how important is it for you to have a variety of different cryptos to play in casinos?
Still playing with bitcoins? Or have you switched to TRON or Ripple?
Anyway, every crypto has its own benefits but how important is it for you to have a variety of different cryptos to play in casinos?
I still prefer playing my bets with bitcoin as it gives me a sense of satisfaction that my coins have utility purposes as I don't consider bitcoin as just a tool for profit purpose. Also since I don't buy into the idea of altcoins been used as currency, I don't used them for any payment purpose instead prefer trading them to get more bitcoin as that is the most useful feature insee in them. Sometimes it's quite frustrating to withdraw with bitcoin due to the fees and time wasting but the moment those coins land in your wallet, the wait would had been worth it.
Still playing with bitcoin, but most of the time I used ripple, aside from it is cheap, it is faster.
Every time I have found a gambling site, I always look if depositing ripple is available because I wanted to pay only a little amount of fee when having transaction.
Every time I have found a gambling site, I always look if depositing ripple is available because I wanted to pay only a little amount of fee when having transaction.
Sometimes it's a good alternative when we use the other crypto in order to manage your gambling capital and save transaction fee. Bitcoin used for casinos usually had huge fees, that's why other coins was also useful in order to increase your winning profit. You can still use eth and tron as another options because it also have a faster transaction processing time.
I choose Tron than to use ethereum because the tron transaction fee is smaller than ethereum so that can reduce the cost for me to send some amount of tron. Ripple can also be a good choice to be used for gambling, but not all gambling site have those option because almost all of the gambling website has bitcoin as their main coin to play gambling. Maybe many gamblers still uses bitcoin for gambling because bitcoin is their favourite coin to playing gambling.
would consider on using some alts but on this current state where fees arent really that high then they dont really bother on paying it up.Its matter of choice or preference though.
Saving up fees is one of the important things to consider here on crypto space neither you are trading or gambling you should really take this consideration.
legendary
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Leading Crypto Sports Betting & Casino Platform
you said your already using xrp so why not stick on it ? i also use xrp and i love it compare to btc . when you use big amount of btc you will also pay huge fees not unless if you are aware with that and you want that to happen ? this already cuts your profit from gambling not to mention the charges from the house edge . xrp is already popular on exchanges or on wallets so i dont think you will have a hard time to exchange it but you can infact benefit from its lightning speed transfers .
Agreed, but when it comes to big gambling, I have to liquidate part of the profit as soon as possible and it is undeniable that BTC has more liquidity than XRP. Moreover, most of the local exchanges are support BTC, so it is much safer for me to use Bitcoin for large amounts of money albeit it cuts more fees.
It may come as a surprise to you to learn that many Casinos have embraced Bitcoin Lightning Network for ease of use to transfer funds in and out (one or two sats to send a transaction).
Dear Timelord2067, I welcome it, But the exchanges are very crucial in this case, most of the exchange’s charges higher fees for BTC withdrawals. So, in the case of small gambling, it is very annoying and uneconomic to transfer BTC on casino again and again.
Still playing with bitcoins?
I only use bitcoin in casinos
Or have you switched to TRON or Ripple?
with so many other options like ETH, LTC, Dogecoin, why just talk about Tron and XRP?
Anyway, every crypto has its own benefits but how important is it for you to have a variety of different cryptos to play in casinos?
in my opinion all casinos should add more altcoin like ETH, LTC, Dogecoin... because that will make people use more altcoins instead of using altcois just for hol and trade
Bitcoin fees are always a little higher on gambling site as well as exchange site. For gambling I use XRP & ETH most of the time, you can try XRP, because it is easy to use, faster and it is cheaper than others. I use BTC when I gamble a big amount of money cause it is easy to exchange to any currency after withdrawal.
It may come as a surprise to you to learn that many Casinos have embraced Bitcoin Lightning Network for ease of use to transfer funds in and out (one or two sats to send a transaction).
I had some Litecoins scattered across a few wallets so I tried betting with them not that long ago. I can't say I had any success though. Litecoin has affordable transaction fees, even in the past week when Bitcoin was going crazy. I have never tried betting with Tron or Doge but I notice from the threads that are being created that some casinos are Tron-friendly.
Bitcoin fees are always a little higher on gambling site as well as exchange site. For gambling I use XRP & ETH most of the time, you can try XRP, because it is easy to use, faster and it is cheaper than others. I use BTC when I gamble a big amount of money cause it is easy to exchange to any currency after withdrawal.
you said your already using xrp so why not stick on it ? i also use xrp and i love it compare to btc . when you use big amount of btc you will also pay huge fees not unless if you are aware with that and you want that to happen ? this already cuts your profit from gambling not to mention the charges from the house edge . xrp is already popular on exchanges or on wallets so i dont think you will have a hard time to exchange it but you can infact benefit from its lightning speed transfers .
On-site gaming currency should be independent of deposit/withdrawal currency. For example, casino should maintain the balance of players in chips. The value of chips shall be pegged to one of the cryptocurrency (let say 1 BTC = 100M chips) and floating rate of such cryptocurrency shall be used to maintain the exchange rate for other currencies.
This mechanism have many benefits:
This mechanism have many benefits:
- Many players have reported problem in using bitcoin due to its high price. They are confused in using decimal values and sometimes bet 10 times more than the expected. Even using mBTC or uBTC don't help because they don't understand the conversation rate (Mathematics you know!)
- Using different cryptocurrencies offer ease to players but at the same time segregates the game matches in multiplayer gaming. Using common gaming currency solves this problem.
- It eases the accounting of casino as owner can easily maintain the accounts and statements when all profit/loss are measured in common denomination i.e. chips.
Chips will be even more confusing
Whatever cryptocurrency is your favorite you always know where you stand, i.e. how much it costs in dollars and what your balance is worth for the simple reason you are already quite familiar with it (as this is what being favorite suggests). Further, many casinos allow internal conversions between cryptocurrencies, so on-site gambling currency is kinda redundant. And you can always use Bitcoin whenever you need to bring winnings, losses, etc into conformity with some common metric (what many casinos do anyway)
legendary
Activity: 2884
Merit: 1115
Leading Crypto Sports Betting & Casino Platform
I had some Litecoins scattered across a few wallets so I tried betting with them not that long ago. I can't say I had any success though. Litecoin has affordable transaction fees, even in the past week when Bitcoin was going crazy. I have never tried betting with Tron or Doge but I notice from the threads that are being created that some casinos are Tron-friendly.
Bitcoin fees are always a little higher on gambling site as well as exchange site. For gambling I use XRP & ETH most of the time, you can try XRP, because it is easy to use, faster and it is cheaper than others. I use BTC when I gamble a big amount of money cause it is easy to exchange to any currency after withdrawal.
Still playing with bitcoin, but most of the time I used ripple, aside from it is cheap, it is faster.
Every time I have found a gambling site, I always look if depositing ripple is available because I wanted to pay only a little amount of fee when having transaction.
Every time I have found a gambling site, I always look if depositing ripple is available because I wanted to pay only a little amount of fee when having transaction.
Sometimes it's a good alternative when we use the other crypto in order to manage your gambling capital and save transaction fee. Bitcoin used for casinos usually had huge fees, that's why other coins was also useful in order to increase your winning profit. You can still use eth and tron as another options because it also have a faster transaction processing time.
I choose Tron than to use ethereum because the tron transaction fee is smaller than ethereum so that can reduce the cost for me to send some amount of tron. Ripple can also be a good choice to be used for gambling, but not all gambling site have those option because almost all of the gambling website has bitcoin as their main coin to play gambling. Maybe many gamblers still uses bitcoin for gambling because bitcoin is their favourite coin to playing gambling.
I would be interested in seeing dice/other games that used alt cryptos for the bets. This way if it were one I am long term HODLing then I could invest in the Casino, or at the very least wager with those alts.
Still playing with bitcoin, but most of the time I used ripple, aside from it is cheap, it is faster.
Every time I have found a gambling site, I always look if depositing ripple is available because I wanted to pay only a little amount of fee when having transaction.
Every time I have found a gambling site, I always look if depositing ripple is available because I wanted to pay only a little amount of fee when having transaction.
Sometimes it's a good alternative when we use the other crypto in order to manage your gambling capital and save transaction fee. Bitcoin used for casinos usually had huge fees, that's why other coins was also useful in order to increase your winning profit. You can still use eth and tron as another options because it also have a faster transaction processing time.
Anyway, every crypto has its own benefits but how important is it for you to have a variety of different cryptos to play in casinos?
this is my personal opinion.. Withdrawal fees are the main factor, I have tried comparing the number of withdrawal fees between Bitcoin, Doge, and Ethereum on a gambling site, the result is the highest withdrawal fee is Bitcoin (among the cryptocurrencies I mentioned). I personally prefer to trade (deposit or withdraw) on a gambling site with Bitcoin (because I'm used to it and the majority of gambling sites provide Bitcoin and don't have a problem with withdrawal fees), but for some people, withdrawal fees may be a major factor for them to decide on where they play.. not really important to me . i can just play what ever coins the casino asks if ever i really love that casino . first coin that i use was btc but u was willing to try altcoins too . actualy on the site that i play they support ripple and tron too but my wallet dont support tron , it only support xrp , btc , eth bch so i try using xrp once and i feel shocked that the transaction was instant . withdrawals are instant too and that is the time that i use xrp all the time when im gambling .
Yes, the main reason why gamblers prefer alternative coins is because of the high fees issues small gamblers face with bitcoins. Another part is the minimum bet is significantly much lower with these coins as compared to bitcoins betting. I cannot think of another reason why anyone would gamble with some other coins because at the end of the day if you are in profit you will probably be converting back to bitcoins for cashing it out.There should have been a dedicated gambling coin that cold be used for gambling with features like low miner fees for example Tron processes transactions at almost 0 fees so that could be a good alternative for people and same for ethereum and XRP too. But, a dedicated coin for gambling alone would have been quite amazing and helpful.
Anyway, every crypto has its own benefits but how important is it for you to have a variety of different cryptos to play in casinos?
this is my personal opinion.. Withdrawal fees are the main factor, I have tried comparing the number of withdrawal fees between Bitcoin, Doge, and Ethereum on a gambling site, the result is the highest withdrawal fee is Bitcoin (among the cryptocurrencies I mentioned). I personally prefer to trade (deposit or withdraw) on a gambling site with Bitcoin (because I'm used to it and the majority of gambling sites provide Bitcoin and don't have a problem with withdrawal fees), but for some people, withdrawal fees may be a major factor for them to decide on where they play.. 
The altcoins who have been thinking of beating bitcoin in terms of many ways, they should have stopped thinking of it. The crypto gambling community has grown well because of bitcoin and that's where it all started. The credit is well deserved by bitcoin because it's the origin of the crypto gambling and the projects that are coming out having a tag line of replacing bitcoin should be ashamed of themselves. We can gamble with any preferred altcoin that we want but nothing beats bitcoin.
The universal for most gambling sites is Bitcoin as business owners mostly recognize as payment than altcoin and it is one of the most popular cryptocurrency out there.
It would also be nice if gambling sites/casino, supports multi currency so it wont be a hassle to convert BTC to ETH and vice versa. Some popular gambling sites i know still use one BTC as deposit.
Yes, while it does not make any difference with what currency you bet with but I myself feel fresh when I am betting with TRX now a days earlier that used to be dogecoins but as their value dropped too much I found a new coin.It would also be nice if gambling sites/casino, supports multi currency so it wont be a hassle to convert BTC to ETH and vice versa. Some popular gambling sites i know still use one BTC as deposit.
It's similar to the question like why do players bet on plinko if dice already exists with same/lower edge because gamblers need something new that makes us feel like there are new opportunities. So yeah I always appreciate gambling sites that accept multiple coins and at least the big ones.
A few sites like stake have partnership with exchanges where you can also exchange coins by depositing through a exchanger and that works well too.
Variety it's always good and I think that players need to have choice according to their preferences and coins they like to use. I know that is more complicated for casinos but it's good for promotion of cryptocurrencies in general.
However, it's not so important for me personaly because I use only Bitcoin that I'm most confident with.
However, it's not so important for me personaly because I use only Bitcoin that I'm most confident with.
It is important for me because it gives me a lot of option to gamble, when a casino does not only accept bitcoin, that would be good for us since altcoins are more faster and cheaper when it comes to transaction (sending/receiving), and it does not only help the gamblers but it will also help the casinos to gain more gamblers since they provide a lot of payment option, for me, I mix my transaction, sometimes its BTC, sometimes its ETH.
I don't know what you are talking when you said it gives you a lot of option to gamble coz basically in any platform there should be just one universal used cryptocurrency in gambling like what most of platforms are using right now is BTC or mBTC because it would be a lot more complicated when different users are using different currencies to play simply due to the conversion rates from the market volatility. So it is either you'll play with bitcoin or USD. I guess what the OP is trying to say is the deposit method for alternative rather than just using bitcoin. Jump to: