What Are Your Thoughts on Online Crypto Casinos with Their Own Cryptocurrencies - page 5.

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Quote from: Davidvictorson on July 27, 2024, 05:20:03 AM

I am learning today that some online crypto casinos have their own cryptocurrencies. I have not seen it on any of my favorite online casino. Just very curious about it. What do you guys think about it. Any experience benefit in using them? Are they worth it. Do you think it's a feature worth recommending to your favorite online casino? Share your insights and opinions in the comments below

Thank you.

From my perspective they are as good as meme coins because they don't really have any intrinsic value.
Although they can be used on the native casino for games and stuff but there won't be any other usage for it.
It won't solve a problem and that is the reason why the growth won't be substantial.
This is enough reason for me to stay away from casino coins.

AVE5

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Quote from: Davidvictorson on July 27, 2024, 05:20:03 AM

I am learning today that some online crypto casinos have their own cryptocurrencies. I have not seen it on any of my favorite online casino. Just very curious about it. What do you guys think about it. Any experience benefit in using them? Are they worth it. Do you think it's a feature worth recommending to your favorite online casino? Share your insights and opinions in the comments below

Thank you.

I'm hearing this for the first time but if by means there's such by which a casino have their own cryptocurrency, it's certainly a welcomed development in expanding the crypto community but with a view pertaining gamblers comforts, it shouldn't mean that the said casinos shouldn't accept other coins unless they'd end up not meeting a large extended players as everyone do have desires for various coins.

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Quote from: Davidvictorson on July 27, 2024, 05:20:03 AM

I am learning today that some online crypto casinos have their own cryptocurrencies. I have not seen it on any of my favorite online casino. Just very curious about it. What do you guys think about it. Any experience benefit in using them? Are they worth it. Do you think it's a feature worth recommending to your favorite online casino? Share your insights and opinions in the comments below

Thank you.

All these altcoins are a bit gimmicky and don't often offer anything new to users. They can be a way to draw people in and confuse them about the value of the money they have. It can often be hard to assess them because they are tied to one ecosystem and harder to trade without the influence of the casino. It's a way for casinos to advertise a new feature or extra functionality within their site without actually doing very much. Frankly I'd give them a pass as few have become established or worth much, if you get some free "airdrops" you might be able to extract value, but beyond that they are pointless in most circumstances.

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I think the goal is to act like it's chips. In real casinos you also come with cash, get chips, play using chips because they're easier to handle than bills and you can hold them in your hand if you like, while it's not that simple to hold a stack of bills. What's the point of doing that in online casino?
I don't use casino tokens, don't trade them and would never invest in them. Why add more risk on top of the coins you already hold?

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Quote from: Davidvictorson on July 27, 2024, 05:20:03 AM

I am learning today that some online crypto casinos have their own cryptocurrencies. I have not seen it on any of my favorite online casino. Just very curious about it. What do you guys think about it. Any experience benefit in using them? Are they worth it. Do you think it's a feature worth recommending to your favorite online casino? Share your insights and opinions in the comments below

Thank you.

I know some casinos that have their own token, I do not think they are really of use for the small-time player but they have a significant impact on big-time players. Like the one distributed in one casino where the accumulated token affects how much share they can get from the winnings of casinos.

Aside from tokens, some casinos have their own NFT, and holding these NFTs enable the player to have perks like bonuses from their wagering amount or some profit sharing.

Quote from: tread93 on July 28, 2024, 09:34:11 AM

I think it’s a smart way for them to incentivize other folks and they obviously charge fees and stuff on top of all that so it’s great for them but it’s also not so great for the average user because at the end of the day it’s just another shit coin and all you really need is Bitcoin.

It is indeed a smart move to get the interest of players. Casino tokens can be earned while wagering while others are directly bought from the casino's initial offering. This will give the holders a chance to gain a percentage of the casino's profit.

If a token has utility, I do not think that it can be called a shitcoin, after all holding some casino's token gives the holder some benefits on that casino. It is a good advantage if the person is a regular player of that casino.

tread93

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Quote from: Davidvictorson on July 27, 2024, 05:20:03 AM

I am learning today that some online crypto casinos have their own cryptocurrencies. I have not seen it on any of my favorite online casino. Just very curious about it. What do you guys think about it. Any experience benefit in using them? Are they worth it. Do you think it's a feature worth recommending to your favorite online casino? Share your insights and opinions in the comments below

Thank you.

Can you show us which ones you’re speaking about? I think it’s a smart way for them to incentivize other folks and they obviously charge fees and stuff on top of all that so it’s great for them but it’s also not so great for the average user because at the end of the day it’s just another shit coin and all you really need is Bitcoin.

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As long as the coin owned by casino is something that can be earned by gambling or by something else (non buying), I would take it as a benefit for me no matter how much is the value of the token later.
Although some coins owned by casino also can be bought, but I would prefer to skip it and I will only try to earn it by other ways.
In general, I take such coin/token as an additional feature provided by the casino that may give benefit to both players and the casino ofc.
So far I do not see such a token that can be said as "BOOMING", most of them are just usable in the casino only although some are also tradeable in exchanges but I think the market is still low.

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Quote from: Frankolala on July 27, 2024, 07:05:34 AM

The first signature campaign that I participated in the forum in 2022 was Betfury signature campaign. Campaign participants as of then was paid 50% in bitcoin and 50% in BFG token which was own by Betfury. You gamble with BFG in the casino.

BFG token is not only used by Betfury but it is also in the market and exchanges have them in their coin list. The value of BFG token is 0.020918usd and with time this token might increase in value because the price was not as high as this in 2022.

I didn't bother to hodli my own token because I never believed that it will increase in value so what I did was to convert them to bitcoin because I don't gamble in their casino.

- I can see that somewhere on the Dex platform, and if I'm not mistaken, it's listed in Biswap. And I've also tried Betfury, and I really enjoy their stair games.

But right now, I don't have any holdings of crypto gambling tokens because my majority are the top altcoins in the market, so somehow I can make a profit.

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Quote from: aioc on July 28, 2024, 06:23:15 AM

Quote from: Davidvictorson on July 27, 2024, 05:20:03 AM

I am learning today that some online crypto casinos have their own cryptocurrencies. I have not seen it on any of my favorite online casino. Just very curious about it. What do you guys think about it. Any experience benefit in using them? Are they worth it. Do you think it's a feature worth recommending to your favorite online casino? Share your insights and opinions in the comments below.

I think FunToken started this concept and many casinos follow up, like Betfury, Owltoken and I just read about TXT and Hunnytoken, so there's not too many token-based casino, but if you look at their standing in the casino industry and in the market, they are doing well There are investors and gamblers who support this kind of token because you can stake these tokens for additional profit.

The strength and weakness of this token lie in the popularity of the casino, if the casino has a good reputation and is popular, the token will have a good performance in the market.

There are probably only a few among the many that have succeeded. Honestly, I can't even name at least one casino token that already has a good trading volume and is listed on a major exchange, which for me is a basis for calling a certain casino coin successful. Do you know of at least one? If not, then I guess it's not a working model, but we can't blame casinos for making their own coins because it adds value to their business by providing another source of investment from investors who trust the future of the casino.

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Quote from: Davidvictorson on July 27, 2024, 05:20:03 AM

I am learning today that some online crypto casinos have their own cryptocurrencies. I have not seen it on any of my favorite online casino. Just very curious about it. What do you guys think about it. Are they worth it. Do you think it's a feature worth recommending to your favorite online casino? Share your insights and opinions in the comments below

Thank you.

Having their own coin is like offering shares of stock available for subscription in the market. This is quite a risky approach if they only accept their own currency, as gamblers would prefer more stable coins (Bitcoin or highly liquid altcoins). I think this is normal for some who wish to grow their own token/coin, and as we can see in some casinos, they offer staking rewards if you buy their coins, which generates them more money for their daily operations.

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Any experience benefit in using them?

I haven't benefited on it yet as most of my investments aren't profitable, but hopefully one day I can find some casino coins that could grow a hell lot like it's gonna pump 100 times.

ethereumhunter

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It is okay if online crypto casinos have their own cryptocurrencies but they should have Bitcoin as their main cryptocurrencies on their site. Bitcoin is the main cryptocurrencies and their token or coins is one of the altcoin that follows Bitcoin movement. We don't know how worth the token or coins and we can only checks on the market when the token is already getting list on the exchanges. If you wants to becomes the investor, you must research for more to know if that is worth enough or not so you can hope that you can get the benefit to becomes the investor.

We can suggests the casino to have their own crypto but that will depends on them because each casino will have their main plan. Maybe they do not interest to have their own token or coin but they can changes their plan anytime. But if they wants to launch their own cryptocurrencies, they must research the market so they know how good their chances if they have their cryptocurrencies.

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I think it depends when they use whether it is used to give free bets to players and then they can convert those free amounts into real money then I think it is okay. If it is being traded outside the platform, I don’t mind being out because it gives value as well and not just in the platform.

I just don’t think it is right To have a token, but if it helps People earn more money then okay, but I think it just feeds into Gambling in a person.

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Just as the first comment already said, I know that some casinos on this forum have their own token, but my favorite casino doesn't have their own token, and I don't see how it affects me or stops me from using the casino. I don't think there's a special advantage for customers using a casino that has its own token; if there's such, I don't know, but what I can tell is that from the list of existing casino tokens, one of them has actually spiked in the past, and some holders (investors) have made a profit from it. As regards the thread provided in the first comment, it shows that some people are interested in investing in casino tokens with the hope that they can also spike during this bull market.

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It can be said that all casinos that have their own cryptocurrency are failed, you can see from some of the ones on this forum that they do not provide the benefits promised by the casino at the beginning of the crypto launch, I can even say to stay away from crypto-based casinos because the performance is only good at the beginning but slowly it will be very disappointing and that is due to limited use cases.

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Quote from: Davidvictorson on July 27, 2024, 05:20:03 AM

I am learning today that some online crypto casinos have their own cryptocurrencies. I have not seen it on any of my favorite online casino. Just very curious about it. What do you guys think about it. Any experience benefit in using them? Are they worth it. Do you think it's a feature worth recommending to your favorite online casino? Share your insights and opinions in the comments below.

I think FunToken started this concept and many casinos follow up, like Betfury, Owltoken and I just read about TXT and Hunnytoken, so there's not too many token-based casino, but if you look at their standing in the casino industry and in the market, they are doing well There are investors and gamblers who support this kind of token because you can stake these tokens for additional profit.

The strength and weakness of this token lie in the popularity of the casino, if the casino has a good reputation and is popular, the token will have a good performance in the market.

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IMO the concept is not necessarily bad. When you gamble, you enjoy the risk. Gambling with Bitcoin and major alts increases the risk and, therefore, the thrill. A specific alt from a crypto casino adds even more risk, because their volatility is usually insane.

I agree that worst casinos can create their token to rip off their users, but that happens with exchanges too. On the contrary, coins of best casinos can be total winners, like BNB in the case of exchanges.

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Quote from: Ojima-ojo on July 27, 2024, 01:48:47 PM

Really I think you are backward in knowledge about utilities tokenizations because if you you have being following up recent developments and ways to scale scalability and also build liqudities some casino's have entered into the space of cryptocurrency market and at that developed their own tokens to support the casino payment system and also take advantage of the market, but what we should know also is that most of the casinos tokens have not being performing well with in the last few years.

But then we have some notable casino that their time have done well in the market and if you take a little search through the various boards you will discover some few of such casino that have a token in the market.

honestly what makes it difficult is when we think we can get functions if we have the casino token, is it worth it to be an item that we have to buy to get much better features in the casino that issued the token, this kind of thing is a basic question for me too, but when the utility is only the same as other altcoins in my opinion why do they issue their own tokens as real tokens from the casino, or maybe just made as another tool in finding funding or revenue from selling their tokens, maybe it could be like that.

Indeed there are already some casinos that issue their own coins, but I think it's not worth investing in, let alone aiming to be held for the long term it will be very bad in my opinion, because it's true as you said that their coins don't work very well as casino coins, unless they have other features and ecosystems that can benefit many parties, it will be very useful for gamblers or investors.

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Quote from: mrust_mobile on July 27, 2024, 05:29:06 AM

I don’t like them. It looks fishy. These are not even crypto currencies. They are casino tokens and they don’t have any other use case. If a casino doesn’t like the high transaction fees of btc, it should implement a solid altcoin like litecoin or/and dogecoin. I can respect a casino that uses alts because that’s the right way to fix this problem. If a casino is coming up with its own token, I can only think they want to rip their customers off. I don’t see any other explanation.

That's true, if BTC fee is too high then they can as well use USDT as a standard crypto depositor coin or use TRX apart from your suggested litecoin or doge. Meanwhile I haven't heard of crypto casino coming up with their own token, if it's true then I don't buy the idea of using it, because I feel it's not genuine. There must be a sole porpos for it.

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Quote from: Pandorak on July 27, 2024, 05:38:30 AM

From what i read, their token offers features like a lottery which can only be participated in if we stake the token, isn't this an advantage in itself?

Not sure if anyone has known before or not but what is certain is that it is not only about the lottery but as far as I remember Rollbit gives benefits to bettors who hold the RLB token as a reduction in the fee from the future. But the amount of fee reduction depends on the number of tokens held by the bettor and as far as I remember the fee reduction is up to 60%. Correct me if I'm wrong.

I very rarely bet using casino token currency, but I have made big profits from casinos like Rollbit who used to bet using BTC but got a number of RLB tokens for free and the price started to rise a few years ago.

Ojima-ojo

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Really I think you are backward in knowledge about utilities tokenizations because if you you have being following up recent developments and ways to scale scalability and also build liqudities some casino's have entered into the space of cryptocurrency market and at that developed their own tokens to support the casino payment system and also take advantage of the market, but what we should know also is that most of the casinos tokens have not being performing well with in the last few years.

But then we have some notable casino that their time have done well in the market and if you take a little search through the various boards you will discover some few of such casino that have a token in the market.

Topic: What Are Your Thoughts on Online Crypto Casinos with Their Own Cryptocurrencies - page 5. (Read 1105 times)