These features was very popular several years ago but i don't really remember the name of those online casinos who have their own cryptocurrencies and usually they have their own native coin named similar to their gambling sites and those sites have their own ANN at here to introduce their coins to the people and the common reason why the casinos make their own native coin because they offering people to invest on those coins and they will be offering the particular amount of profit sharing
But those casinos online were disapears now and their coins also becoming worthless because delisted by the exchanges even some them has been turn became an scam sites and since several years ago i never been interested for the features like this because i was considers invest at those coins will not be profitable and not good for long term besides that online casinos is a place to gamble not to invest
Topic: What Are Your Thoughts on Online Crypto Casinos with Their Own Cryptocurrencies - page 6. (Read 1105 times)
July 27, 2024, 01:37:24 PM
July 27, 2024, 01:34:55 PM
The thought of becoming a valuable coin someday, I think that's why they will create such things. I am not against this kind of strategy because sometimes they do have perks. Let's say it is listed in exchanges, we might get a cheaper withdrawal by using that. The same with what is happening in other exchanges where if you use their coins, the perks are the cheaper trading fees and transaction fees are also cheaper, like Binance for example.
Now, the other perk is the coin becoming valuable someday which means any buyers could gain profit by buying their coin and then they can also gamble it if they want. It's an intriguing strategy but not many can pull this feat perfectly especially if they are not popular gambling sites yet.
Now, the other perk is the coin becoming valuable someday which means any buyers could gain profit by buying their coin and then they can also gamble it if they want. It's an intriguing strategy but not many can pull this feat perfectly especially if they are not popular gambling sites yet.
July 27, 2024, 01:20:12 PM
Casino tokens themselves usually have benefits in the incentives provided by some other features, where you bet more casino tokens then there will be greater rakeback or casinos offer exclusives to players who hold their own tokens, but I don't feel confident that casino tokens can increase significantly this depends on the growth of the casino.
I myself do not use it, only a few times bet with casino tokens, I avoid casino tokens afraid when there is a decline can not recover again in a short time so this is usually to bet and not to hold.
Even though I play at my favorite online casino and they have their own tokens, I don't do it, it's better with other currencies such as USDT or crypto which is cheaper in terms of transactions.
I myself do not use it, only a few times bet with casino tokens, I avoid casino tokens afraid when there is a decline can not recover again in a short time so this is usually to bet and not to hold.
Even though I play at my favorite online casino and they have their own tokens, I don't do it, it's better with other currencies such as USDT or crypto which is cheaper in terms of transactions.
July 27, 2024, 01:05:09 PM
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.
I don't completely agree that casino token are created just to cheat their customers, even if some of them have done it. Meanwhile, I personally have no interest in investing in any casino tokens for various reasons, but wouldn't say they are completely bad considering their use cases. If someone wants to use this token for gambling or investing, then they should have considered any consequences that could occur in the future. There are many cases where casino tokens lose their value due to the casino's bad reputation, it is a risk that must be considered wisely.I tend to like stablecoin and some other best altcoin for use as a means of payment in casinos, while bitcoin is simply an investment asset. This is just my choice and also my habit, but I don't want to be on the front line against any casino token if it is created because of the needs of the casino and its customers.
July 27, 2024, 12:34:27 PM
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.
Yes some crypto currency do have their own crypto currencies, they usually do this at times for the ease of transactions on their site but some of those coins are not listed on known exchanges so it may not be such that you can exchange on such plat forms but for the gambling site. For the the sake of transaction on the site, its advised that you should some times convert to the casinos coin so you be able to literally participate in all casino games when you wish to because you may have challenges moving funds probably converting from one currencies to another on the site so as to enable you be able to place you r bets at a time.Thank you.
But then don't leave your money in that form whenever you have won, make sure you convert to a recognized coin and then make your exchange so you will be able to get your money to your local fait .
July 27, 2024, 12:26:51 PM
Utility is good if casino will use it the way it was intended together with its feature. Casino generates good profit consistently which makes casino token should be the one who prosper the most if people understand well it’s fundamentals rather pure price speculation.
No doubt casinos make a good profit, but to me, that should be enough reason for them not to even have a token unless they are in need of extra revenue to support the casino. For casinos that start with tokens as their means of raising funds before the casino gets started, it's really understandable, and such can have a good use case, starting from holders benefits to some other bonuses that they can grant to gamblers. Aside from that, I don't see a reason for crypto casinos to even have their own token.
July 27, 2024, 12:07:07 PM
Well most of the gambling site tokens are stables because of large market cap simply because its utility is with every transaction on a particular platform so I guess it won't be generating that much even in bullrun unlike with other coins which are more likely to do so.
Are you sure? I find more about Rollbit coin (RLB). It was around $0.002 in September 2022. It rose to $0.24 in November 2023. It is now at 0.07675. Which means it is volatile.
In December 2023, Fun which is Freebitco token rose to almost $0.01 but now at at $0.003554. This is also volatile.
There may be some that are not that volatile, but we should still be very careful of bear market while dealing with altcoins. Not only gambling site tokens but all altcoins.
July 27, 2024, 11:59:24 AM
Actually gambling sites want to introduce their names more widely to crypto users. But those who want to live for long time adopt different strategies and encourage gamblers to gamble on their sites. But i think stable coins are the main choice instead of the gambling site own coins. With bfg stock i think they are enjoying the dividend they are getting but the value of their token is not much improved. But we can choose our luck with the tokens that are available from these casinos It can be profitable.
July 27, 2024, 11:41:01 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.
if the coin from the casino has an advantage for the gambler who holds it, I would agree. but if the coin is only for trading like the crypto project coins in general, of course, it will not benefit the gambler. if the casino creates its coin, of course, it must be intended and provide benefits to the users of their casino platform. I think it would be better to maintain the value of their token in the market. Thank you.
July 27, 2024, 11:40:17 AM
The concept of casino tokens is not new, there have been lots of them already including the popular Betfury, the users staking their BFG I think are enjoying the dividends they get but obviously the token's value isn't as high as one could expect. Even the old casino with their token doesn't have a high-value token.
But I guess you can enjoy trying your luck with the coins you earn every day from the casino. I hold one myself, and although not profitable I still enjoy the giveaway every day and try betting those tokens they give.
July 27, 2024, 11:34:49 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.
If you're a gambler on their platform then I guess it would be a good way to support the platform itself. I see no problem with it and sometimes transaction fees are lower with house coins as they encourage their players to use it than with other coins. This is just their way of generating bigger income than with their services alone but this is for the site's sustainability as well in the long run. Big platforms have this kind of token so I think it is a sign of progress as well. Also, in most instances, this is not a required token unlike with chips in real casino games, just an alternative to a "better" transaction experience.If you want to enjoy the perks they offer in the casino most of the time it requires their own token so that's all you can access their features with their token at the same time is you can use their token to gamble too, there's nothing much difference just with the use of the internally in their system. If you can see their token has a potential to use and you are active in the gambling casino you can get benefit of it but if not I guess doesn't ideal to buy or hold at least.
Maybe it can be good during bull run when altcoins are increasing in price. I have not analyzed any of the gambling sites tokens before but I believe their prices will follow bull and bear market also just like other altcoins. It can be exciting to buy during bull market has just started when the prices of other coins are increasing as bitcoin is increasing after long term bear market. But during bear market, it could be painful for some people to buy the any of the tokens as many of them will fall more than 10 times or more of their bull run prices. I will also not expect the tokens to get to all-time high in many years. Which means they will not be good for investment.
July 27, 2024, 10:54:10 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.
Yes we have and it's been a long time, for example like Rollbit casino which has its own coin as a coin representation of the casino itself, but I don't know more about the uses, maybe they did implement some uses to be able to access the features in the casino much better. Thank you.
But as far as I think it is nothing more than a coin for the casino itself, and if it is made into an investment place it is not a good thing either because the ecosystem only covers the casino, while there are many other coins that can be used for gambling if you look at the function only for alternative tokens in gambling.
July 27, 2024, 10:52:59 AM
Any experience benefit in using them? Are they worth it.
If there are any benefits when playing at casinos which feature native tokens, it will depend on the advantages and promotions offered by the platforms. I can't generalize saying all of them are bad or good. Let's say, for an example, that a casino gives extra deposit bonus or free spins to those who gamble with their native token. Then it might be interesting to give it a try, right?It's just important to not rely considerable portions of your funds into the native token for a long time. As soon as you gambled, exchange it back to another cryptocurrency, so you don't risk yourself seeing your money losing value, because these tokens are pretty unstable and tend to not be a decent long term investment option.
July 27, 2024, 10:41:54 AM
If you want to enjoy the perks they offer in the casino most of the time it requires their own token so that's all you can access their features with their token at the same time is you can use their token to gamble too, there's nothing much difference just with the use of the internally in their system. If you can see their token has a potential to use and you are active in the gambling casino you can get benefit of it but if not I guess doesn't ideal to buy or hold at least.
Maybe it can be good during bull run when altcoins are increasing in price. I have not analyzed any of the gambling sites tokens before but I believe their prices will follow bull and bear market also just like other altcoins. It can be exciting to buy during bull market has just started when the prices of other coins are increasing as bitcoin is increasing after long term bear market. But during bear market, it could be painful for some people to buy the any of the tokens as many of them will fall more than 10 times or more of their bull run prices. I will also not expect the tokens to get to all-time high in many years. Which means they will not be good for investment. 
July 27, 2024, 10:23:53 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
If you want to enjoy the perks they offer in the casino most of the time it requires their own token so that's all you can access their features with their token at the same time is you can use their token to gamble too, there's nothing much difference just with the use of the internally in their system. If you can see their token has a potential to use and you are active in the gambling casino you can get benefit of it but if not I guess doesn't ideal to buy or hold at least.
copper member
Activity: 2800
Merit: 1179
Leading Crypto Sports Betting & Casino Platform
July 27, 2024, 09:45:30 AM
Once a believer of this casino since I’m too in loved with online casino but I suffer huge lose by investing on multiple casino tokens including Owl, Betfury and many more that become popular back then.
It’s not good for investment purposes because other user gets it as rakeback and cashback rewards which casino use instead of the funds they are getting from profit. In short, casino utility token is the way of casino to absorb some of bonus expenses passed to token holders that will purchased it in open market.
It’s not good for investment purposes because other user gets it as rakeback and cashback rewards which casino use instead of the funds they are getting from profit. In short, casino utility token is the way of casino to absorb some of bonus expenses passed to token holders that will purchased it in open market.
July 27, 2024, 09:23:08 AM
What Are Your Thoughts on Online Crypto Casinos with Their Own Cryptocurrencies
In my opinion, it's normal, there's nothing special if casinos have their own tokens, in fact it's commensurate and profitable for the casinos themselves, where they can give out bonuses with their own tokens for free.Many casinos that have tokens share their tokens when they advertise Bounty or competency campaigns, that's an advantage for the casino itself rather than giving away Bitcoin and other types of crypto, you could say while drinking milk, that's a saying worth givingfor casinos have tokens.
Talking about recommendations, it is individual, if you think it is worth it, of course and vice versa, but other users can rate also their tokens on the market and also the price, if they are interested of course points for the casino itself and vice versa.
July 27, 2024, 08:57:41 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.
Thank you.
- The only casino I know that has its own token is Betfury BFG, and Rollbit also has its own token. This is the only one I know; I don't know about other casinos about which I have no idea. As for me, I don't look to see if I have my own token.
As long as mine can only play with a limited amount that I gamble, whether I lose or win, it's fine. That is exactly what you should do as a gambler in this field of crypto gambling.
legendary
Activity: 1358
Merit: 1565
The first decentralized crypto betting platform
July 27, 2024, 08:51:44 AM
I don't like them. Just as I don't like tokens and shitcoins in general. In theory they give you an advantage but who really benefits is the casino and I think that all, or at least most, will end up like the FBI Fun Token, with a tendency to 0.
July 27, 2024, 08:41:45 AM
In my view no tokens shall be issued by online crypto casinos unless and until they be bound by a vow to swap them (free) to effective crypto at any moment without beating about the bush. Otherwise such tokens would be considered by me as a sign of fraud from casino's side and I would definitely avoid the login on their site.
Jump to: