Topic: Which Crypto coin Do You Gamble with the Most? - page 9. (Read 805 times)

Now placing bets using stablecoins has always been my choice, I made this decision when I lost when betting using Bitcoin, then the day after I lost, Bitcoin experienced an increase which made me very sorry for using Bitcoin when betting. Using stablecoins can make me more accurate in calculating the amount I earn and the amount I have spent, besides that stablecoin prices are more stable compared to Bitcoin and litecoin. I don't want to feel like I've lost twice when I'm betting, experience has taught me to be wiser in using betting media so I'm not too surrounded by guilt when I lose.

I mostly gamble using altcoins which the fee is cheap e.g. Doge, Tron or Litecoin. I don't want to gamble using stable coin run in Ethereum network or Bitcoin because the fees is high, if I win some money and want to withdraw, the fees can consume a good amount of my profit.

Actually what's the reason we need to gamble using Bitcoin? I don't see any good reason.

Gambling using crypto is expected to support the privacy of gamblers and this is starting to be in great demand. Any type of currency that the gambling platform supports is basically worth using, but some users also tend to think about transaction fees than well-known coins like bitcoin, Ethereum or others.

If it is based on gambling purposes then any currency is definitely worth it but even USDT or altcoin that have low transaction fees may have been used more than bitcoin at gambling platform. I think when bitcoin transaction fees get expensive, then altcoin options that have low transaction fees will be used.

Honestly, I have never calculated the amount I use to gamble in detail. I deposit BTC. For example, I send 0.001 BTC, which equals $26.45 at the current BTC price. That's the amount I used to gamble or even less than $10-$15 so I still have some balance in my account.

And if I only use $15 to gamble when my previous balance was $26.45 and I already lost $15, then my remaining balance will be $11.45. I don't see what price BTC is at right now. And if tomorrow I want to gamble again, maybe my balance can be less than $ 11.45 or more than $ 11.45, depending on tomorrow's BTC price.

I also use the same calculation for other coins. But indeed, if we use stablecoins, the number of our losses and wins will be visible, making it easier to calculate.

The online crypto gambling industry, indeed they are currently competing to implement withdrawal and deposit features with various types of crypto, that is the main attraction for gamblers, of course every one of us here has a number of coins that are often at stake in online gambling, that's for sure.

But if you ask me, of course I don't have too many types of crypto that I bet on in gambling, only three types of crypto that I always circle around in gambling.
1. Bitcoins
2. LTC and
3. USDT

Of course I have my own reasons for choosing these three types of crypto, apart from being fast and cheap, that's the main reason I chose this coin, except: Bitcoin recently has expensive transaction fees, maybe the other two types of crypto can be relied on for betting.

I cannot remember when I started to switch from BTC but I've been using stable coin quite a lot now. I don't quickly withdraw and convert my winnings to fiat so I don't have to worry about the coin's price tomorrow or after a few days. Sometimes I use other altcoins that are accepted by the casinos mainly for convenience sake.

I started gambling with Bitcoin after funding my account however due to the instability of the price of Bitcoin It couldn't allow me to get accurate details of my profits, honestly it wasn't easy for me to place a bet a fix amount even before the started at times the value staked might dropped or increased due to price fluctuating until my gambling site provided an alternative means of deposit which is via a stable coin i.e USDT with it I was able to keep a track records of stakes, profits and losses, though with the aid of an exchange I can exchange my USDT to Bitcoin for hodling in my wallet hence I am very much satisfied with the various alternative means of using cryptos to bet or gamble.

Just like others, I prefer to use stable coins. Reason?, Avoid guilt. Using volatile cryptos would put me on guilt especially if the market price increases and happened that I've lost my capital. It would somehow leave me an impression of a double loss. Atleast with stable cryptos, price would remain as is. If I would be losing $800 in a single day, it would remain the dame unlike with $800 worth of btc perhaps, which could be $1k or more if I choose to hold. It won't  be on a literal basis but the idea is to just lose an amount as is and no other potential of earning profit. But I do get the idea that to other gamblers, using other cryptos, even if volatile, would cost them less with transaction fees which could really be a pro for them.

The main problem is you shouldn't view how much your Bitcoin equivalent to USD because this will create confustion, just view it in BTC equivalent, 1 BTC = 1 BTC. However there are casinos will show your bankroll in USD equivalent, you need to change it on settings or pick a casino where it show bankroll in BTC equivalent.

Most casinos are only accept USDT in ETH network, the fee is high, so make sure you're use Tron network or other that is cheaper.

After a very massive bear market like when bitcoin got to $16000 and now, I prefer to use bitcoin to gamble. But I still also prefer to use stable coins like USDT or USDC if available.

After a very long bull market, I do not gamble with bitcoin but using only stable coins.

I use altcoins like litecoin too, when the market as been very red with huge bear market.

This is something I was discussing in one of my comment on one of the threads on this board, I shared the below as my opinion and thought to escalate it as a new thread to get to find out what crypto currencies every other gambler out there prefer..

Personally, I've always preferred doing all my gambling transactions in stable coin, like I explained a bit in my comment in another thread, gambling with stablecoins helps me to..

1. Keep track of my actual spending..
2. It helps me keep and maintain a threshold in times of long loosing streak - i will explain further..

Keep track of spending in gambling is kinda hard to do with unstable coins like bitcoin and other altcoin, for example, let say, yesterday, you gambled away 0.01 bitcoin, and at the time of the transaction, 0.91 bitcoin was worth $500 due to the price of bitcoin then, and you already put it on record that you lost $500 in gambling yesterday, and by today, the over all price of bitcoin increase by let's say 15 percent or more, going back to your loss in yesterday's gambling, you know it's no longer $500 you lost, the amount you lost has increased by 15 percent or more due to the increase in price of bitcoin - simply because if you hadn't gambled away the bitcoin but held it, the gains today would have been in your pocket - this example is also the other way round in cases where the price of bitcoin falls instead of increase..

The point is, this can create confusion for those who keep a gambling journal - some kind of spreadsheet where they keep record of all their gambling wins and losses - this helps to know when you actually spending too much in gambling and not getting any profit in return.

With stable coin, keeping a clean sheet is possible as $1 loss will always be $1, while a $2 win will always be $2 since stable coins do not show any significant increase or decrease in their price except in times of crises, which is not something that happens frequently..

So for me, I've always preferred to do all my gambling in stable coins only for the reasons given above..
So what about you? Do you feel and do the same or do you have a different perspective to this altogether? Let's discuss.