Transactions Fees x Gambling - page 4.

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Quote from: xSkylarx on April 16, 2021, 08:47:14 PM

Quote from: cabalism13 on April 09, 2021, 02:17:55 PM

Hey guys, I was wondering on how do you fund your Gambling Account if we currently have high fees on ERC20 and Bitcoin?

Many gambling websites now offer many cryptocurrencies to use on their platform. To have lesser fees I often use TRX or doge to play, the amount you will earn is still the same if you convert it to stablecoins. It also has an advantage using those because you can play longer with those cheap coins. Even if the fees are low, using bitcoin or ethereum to gamble is not good for me because you are just wasting a big amount money in the future. This is what I've realized wasting more than 0.01btc just to gamble in the past.

If you have TRX or DOGE already in your wallet, then there is nothing wrong in using them for making the payment. On my part, I mostly go with BTC, since I don't have a lot many altcoins with me. Purchasing altcoins using BTC and then using them for the payment can be counterproductive, due to the extremely unstable exchange rates. And I don't necessarily agree with the last part of your post. The payment needs to be made and it doesn't really matter whether you are using BTC or fiat for that. If you really feel that you will lose out in the future, then why can't you purchase a large amount of BTC right now, rather than worrying about spending these small amounts?

xSkylarx

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Quote from: cabalism13 on April 09, 2021, 02:17:55 PM

Hey guys, I was wondering on how do you fund your Gambling Account if we currently have high fees on ERC20 and Bitcoin?

Many gambling websites now offer many cryptocurrencies to use on their platform. To have lesser fees I often use TRX or doge to play, the amount you will earn is still the same if you convert it to stablecoins. It also has an advantage using those because you can play longer with those cheap coins. Even if the fees are low, using bitcoin or ethereum to gamble is not good for me because you are just wasting a big amount money in the future. This is what I've realized wasting more than 0.01btc just to gamble in the past.

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Quote from: cabalism13 on April 16, 2021, 04:01:53 PM

Quote from: Natalim on April 16, 2021, 03:03:43 PM

However what OP is asking is about funding his gambling account, so basically it's coming from a online exchange to a gambling platform.

yes it is. I have funds on both coins.ph and Binance but the thing is I currently have USDT and I dont think any platform which I play has it so I'm looking to some alts like the ones they suggested which is DOGE.
Haven't checked my FortuneJack Accohnt yet if they jhave such option as my axcount has been suspended again for the second time without a reason. I'll be keeping in touch with this thread for a while as I only havr a few platforms to play with.

I've seen your complaint on the FJ main ANN thread which im also boggling on why they do locked up your account which it had been resolved out few days ago as i remember.

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Quote from: Natalim on April 16, 2021, 03:03:43 PM

However what OP is asking is about funding his gambling account, so basically it's coming from a online exchange to a gambling platform.

yes it is. I have funds on both coins.ph and Binance but the thing is I currently have USDT and I dont think any platform which I play has it so I'm looking to some alts like the ones they suggested which is DOGE.
Haven't checked my FortuneJack Accohnt yet if they jhave such option as my axcount has been suspended again for the second time without a reason. I'll be keeping in touch with this thread for a while as I only havr a few platforms to play with.

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Quote from: Sanitough on April 16, 2021, 03:23:15 PM

Nice advice, yesterday I gamble using XRP and before the price dump, my winning has already decrease in value. If we are really looking for the fastest and the cheapest, we just have to use XRP, I guess some gambling sites have added this coin already.

I think EVERY gambling site has added XRP already. For example, Betnomi, where i played few poker series, affords deposits in XRP the same as Sportsbet and freebitcoin.

And yeah, because TRX is on pump now, and DOGE on HYPE, i really would not advice to anyone to use them for deposit.

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Quote from: johhnyUA on April 16, 2021, 03:16:02 PM

Quote from: Lanatsa on April 15, 2021, 05:14:33 PM

Doge does have 1minute blocktime https://bitinfocharts.com/comparison/dogecoin-confirmationtime.html
Tron does have 3 seconds https://tronscan.org/#/blockchain/blocks

Thanks man. I knew that Doge is Litecoin fork but I don't know exact block time. And yeah, TRX is really fast.

And because of Doge rally i wouldn't advice anyone to use Doge just for gambling Grin

More like for HODL and nothing else Grin

Nice advice, yesterday I gamble using XRP and before the price dump, my winning has already decrease in value. If we are really looking for the fastest and the cheapest, we just have to use XRP, I guess some gambling sites have added this coin already.

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Quote from: johhnyUA on April 16, 2021, 03:16:02 PM

And because of Doge rally i wouldn't advice anyone to use Doge just for gambling Grin

More like for HODL and nothing else Grin

It became now a crypto that's the same as bitcoin and ethereum that we don't want to gamble anymore because its price is increasing. Tongue

But if I've got still some Doge with dust amounts in my wallets, I would be totally fine gambling it and use it so that I get rid of it and I've got no balance remaining entirely to those wallets that I have.

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Quote from: Lanatsa on April 15, 2021, 05:14:33 PM

Doge does have 1minute blocktime https://bitinfocharts.com/comparison/dogecoin-confirmationtime.html
Tron does have 3 seconds https://tronscan.org/#/blockchain/blocks

Thanks man. I knew that Doge is Litecoin fork but I don't know exact block time. And yeah, TRX is really fast.

And because of Doge rally i wouldn't advice anyone to use Doge just for gambling Grin

More like for HODL and nothing else Grin

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Quote from: LFC_Bitcoin on April 16, 2021, 12:37:44 PM

My deposit fees are literally only a few cents, I deposit with sportsbet.io, they allow zero confirmations.

That's the great feature of the site, IIRC, they allow their gambler to withdraw with zero fee in their platform, but I'm not sure if they are still doing that knowing how big the fees of bitcoin networks in the present situation, or maybe they increase the minimum withdrawal fee?

However what OP is asking is about funding his gambling account, so basically it's coming from a online exchange to a gambling platform.

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Quote from: cabalism13 on April 09, 2021, 02:17:55 PM

Hey guys, I was wondering on how do you fund your Gambling Account if we currently have high fees on ERC20 and Bitcoin?
As I can't even touch my own wallet due to this, even if I want to spend fiat in exchange of eth to funds my gas its not worth it as I'm doing 2 transactions and it would cost me ~100$ just to fund my wallet..., I'm currently playing at mwplay88.com where money on my country is the only being accepted (currently) so I can still play slots but only with fiat.

Can you share how you do during this time? And what advise you can tell me about so I can still play?

-cabalism13

Edit:

Just for you to know my funds are on Metmask and of happen to buy and transfer from an exchange this would be the fees (its fixed) (I'll be paying fees for swap, transaction fees and another transaction fee to transfer on Gambling Platform)

Damn this fees.

Those are some of the worst fees that I have seen in a long time, so you are right you cannot really pay those kind of fees just to gamble a little bit, personally I don't really have a problem with this right now because I am holding my coins in my own wallet and I can adjust the fees, this means that I can choose a moment in which the network is not really that busy and send a very low fee and just hope for the best, if the transaction doesn't get confirmed then it doesn't matter because I can wait until my transaction gets out of the mempool and then try again

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Quote from: bryant.coleman on April 13, 2021, 05:01:59 AM

Quote from: bitbollo on April 13, 2021, 12:46:50 AM

my suggestion: use another crypto currency or switch to another bookmaker.
it's very expensive use eth or any erc20 for betting unless you are using a big stake. plus if you're not confident with these type of transactions you can waste useful gas fees!

Litecoin and Dogecoin offering a cheap solution. Anyway I will be focused also in using cash since the save will be impressive respect crypto fees.

DOGE can go up or down by as much as 50% (or more) in a given 24-hour period. If you want to use that coin, then I hope that you are aware of the risks. I am someone who got burnt a few years back because I preferred shitcoins instead of Bitcoin. I prefer to use Bitcoin, irrespective of the transaction fee. In gambling sites that accept BCH, I make my deposits with that coin. But in other sites, I make the deposits in bulk and wait until the Mempool is empty.

I like that in the Bitcoin network, unlike in the ETH network, the transaction will be executed even if you set a super-low fee. Even if it takes a day or two or seven days, the transaction will still be queued up and will get into the block. So if you are in no hurry to make a deposit, you can use the Bitcoin network as well.

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My deposit fees are literally only a few cents, I deposit with sportsbet.io, they allow zero confirmations.

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Quote from: cabalism13 on April 09, 2021, 02:17:55 PM

Damn this fees.

Use anything that has low fees. It is a problem that solves itself. If you keep using a high fee platform, then the fees will become even higher for everybody. Vote with your wallets and use something else. I heard doge is cheaper Wink

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Quote from: cabalism13 on April 09, 2021, 02:17:55 PM

Hey guys, I was wondering on how do you fund your Gambling Account if we currently have high fees on ERC20 and Bitcoin?

I think this is not just happening for you, I experienced the same thing. Very large delivery gas made me think long and hard about making withdrawals and deposits on the gambling site that I played.

I stopped betting a little on sites that deposit / withdrawal with Eth, for now I am more focused on gambling sites that offer Doge, Ltc etc, which look cheaper and more affordable, However, for Bitcoin transactions it is still fine for that.

I think if this / eth continues like this, maybe a lot of gambling sites will switch to another crypto payment method, it's cheaper.

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Quote from: cabalism13 on April 09, 2021, 02:17:55 PM

Just for you to know my funds are on Metmask and of happen to buy and transfer from an exchange this would be the fees (its fixed) (I'll be paying fees for swap, transaction fees and another transaction fee to transfer on Gambling Platform)

Damn this fees.

Nobody wants to go through that process, you are already at a loss before you start playing, you can do this if you just want to have total fun you only want to gamble and nothing else, but if you are thinking of at least winning so you can continue playing you will find a better option and the only best option is to pick other coins if the site that you are playing only accept Bitcoin and Ethereum, then better look for other gambling sites.

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Quote from: johhnyUA on April 15, 2021, 04:43:52 PM

Quote from: cabalism13 on April 09, 2021, 02:17:55 PM

Hey guys, I was wondering on how do you fund your Gambling Account if we currently have high fees on ERC20 and Bitcoin?

I would use Tron or maybe Dogecoin to fund my account. All the same, I would use Tron over Doge, because Tron is much faster than Doge (I don't now blocktime in Tron chain, but i know that Doge has 2 min average block time and this is not too good)

Doge does have 1minute blocktime https://bitinfocharts.com/comparison/dogecoin-confirmationtime.html
Tron does have 3 seconds https://tronscan.org/#/blockchain/blocks

I would definitely be choosing Tron over Dogecoin but if youre not in a hurry then you can choose up what you do like.

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Quote from: cabalism13 on April 09, 2021, 02:17:55 PM

Hey guys, I was wondering on how do you fund your Gambling Account if we currently have high fees on ERC20 and Bitcoin?

I would use Tron or maybe Dogecoin to fund my account. All the same, I would use Tron over Doge, because Tron is much faster than Doge (I don't now blocktime in Tron chain, but i know that Doge has 2 min average block time and this is not too good)

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Quote from: Viscore on April 12, 2021, 05:55:54 AM

Quote from: KTChampions on April 12, 2021, 05:39:01 AM

Thanks for the amendment! I confused it with USDT on the Tron blockchain. I myself use USDT only on the basis of the ETH, so I lost sight of this point. I hope I have not misled anyone and no "fake" tokens will be advertised by me Cheesy

In addition, I hope that the ETH will solve the problem of large commissions and I will be able to use USDT as before, now they are dead weight.

USDT has the highest liquidity, it will increase more as this problem will be solve, anything related to ETH is not good for gambling now as its fees are not reasonable for most of us, we have to look for other option but we know this bull run will not be forever, so everything will be back to normal.

The growth of the USDT money supply will also not last forever. As far as I know, there are many questions about this coin regarding the real security of the coins by assets. If this is some kind of pyramid and the regulators bring it down, then along with it the entire crypto market will collapse and there will again be minimal commissions in the ETH Grin

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I use other crypto to gamble for lesser transaction fee and withdrawal fee.
It would only be a waste if we would gamble with small amount and most of it would just go to the transaction fee.
I think it would only makes me greedy if I would play with BTC or ETH because of their high transaction fee I would chose to continue even if I already had enough profit.

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Quote from: lixer on April 13, 2021, 12:20:58 PM

Quote from: bryant.coleman on April 13, 2021, 05:01:59 AM

DOGE can go up or down by as much as 50% (or more) in a given 24-hour period. If you want to use that coin, then I hope that you are aware of the risks. I am someone who got burnt a few years back because I preferred shitcoins instead of Bitcoin. I prefer to use Bitcoin, irrespective of the transaction fee. In gambling sites that accept BCH, I make my deposits with that coin. But in other sites, I make the deposits in bulk and wait until the Mempool is empty.

I do not really like to use Doge in any case or shape, but we are in crypto world and 50% change in a day is not really that shocking as long as it doesn't do that every day. Doge is obviously more volatile than most coins you may see, but when we are talking about something as expected to more a lot as crypto, blaming doge to be volatile is not a reason to not use them.

My reason for not using it is simply them not being trustworthy enough, they look like a bit centralized with how many doge some of the wallets have and that is why I do not use it, I rather use more decentralized currencies. I used to love ETH when gambling because it wasn't this expensive but these days it is very expensive, so now I turned towards other ones, plus there are dapp gambling that exists these days which means you do not have to use too much money depending on which chain. Tron is a lot better in these things honestly.

You would really be expecting those kind of volatility because price is cheap and can be easily moved out when someones tends to buy or sell which means that
it would be a bit casual thing unlike on other coins which movement isnt really that much compared to this but you are right that this shouldnt be a reason
for you to blame because if we do look out on bigger picture then there are lots of alternatives which you can use that do give out the same usability.
Fees now are extremely high when theres some network congestion specially now in bitcoin as of this moment.

Topic: Transactions Fees x Gambling - page 4. (Read 1443 times)