Which cryptocurrency do you use for gambling frequently? - page 6.

SquallLeonhart

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Quote from: barbara44 on March 21, 2020, 11:01:50 AM

I believe all the people are gambling with the expectation of making some big fortune out of thin air. If they are purely gambling for entertainment purpose then probably they might be switching over to video-games instead of staying in gambling. Yes, there are a lot of stimulating games are available to push adrenaline.

I agree. Because, I have seen lot of people are declaring that they are gambling only for pleasures but they do use bitcoins alone for their gambling which must be highly contradicting. At the same time, video games are not enough trill filled entertainments for adults. You must have child-like mindset to keep on enjoying which is not possible for all the people around the globe by considering different lifestyle and different cultures and traditions worldwide.

Quote from: barbara44 on March 21, 2020, 11:01:50 AM

People stick within gambling with the expectation of hitting their luck moment at any time and by gambling with the highly valuable cryptocurrency, they are ensuring they will hit the maximum at any attempt.

Yes with bitcoin gambling, you may win big or lose big. It is like high risk <-> high rewards. Interchangeable. If they are ready to compromise with their profit levels then they think about switch over to another low value coin but I am not seeing it is as a trend because gambling makes people greedy over the time hence leaving off bitcoin is not at all a consideration for most people.

maydna

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Quote from: Nadziratel on March 21, 2020, 01:43:50 AM

I think we need to completely separate the crypto money we buy for investment and the crypto money we use for gambling. Personally, from this point on, I will use as many USDTs as possible for gambling.

Many people don't know about this. And that makes them use the money for trading, investment or even for their daily needs to gambling. That will affect your budget daily because if you lose in gambling, you will not have money to buy other things that you want. If you can separate the money for your expenses, you can know that how much money you can use for playing gambling. I think we can use many coins for playing gambling, and so far, I use dogecoin, litecoin, sometimes, I try to use ethereum too. But dogecoin and litecoin are enough for me to play gambling.

sunsilk

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Quote from: Haunebu on March 21, 2020, 07:37:52 AM

Quote from: sunsilk on March 21, 2020, 06:15:10 AM

Bitcoin no matter what the situation of the market. Ups and downs, still bitcoin. I don't find a reason to gamble with any other cryptocurrency unless I'm pretty much longing for some excitement that it might bring to me.

The biggest issue which I found while gambling with BTC is that I sometimes gambled with higher amounts than I wanted to due to which I lost big amounts sometimes. Alternate currencies like XRP, LTC, Doge etc help avoid this confusion in my experience.

As long as it works for you.

For now, I guess I don't have to but if I want to use some of those holdings I have with some altcoins I might use them. The thing is I've bought them with higher price that's why I can't spend them freely although I want to.

Whilst bitcoin, I have it during the cheaper days so it wouldn't be a big loss for me. We have different reasons and situations to gamble with bitcoin and altcoins.

Taskford

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I'm not much on other crypto since I'm unto bitcoins since for me its easy to transact and withdraw whenever I want to cashout or exchange it with fiat aswell with depositing. but although I gamble sometimes with xrp but only limited since its so hassle for me in terms on converting it.

jademaxsuy

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I use a cryptocurrency that have less fee when withdrawing. I will use bitcoin if the gambling site accept only bitcoin yet as a payment. I have played lottery and poker too but I only have limit to avoid gambling too much money that I can afford to lose. For me, my first choice is to choose a crypto that has low fees when you withdraw or to deposit funds.

Dalmar

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TBH, I have used mainly XMR and XRP for obvious reasons. The XRP has the fastest speed among the altcoins nad using the XMR will the best anonymous choice. The BTC and ETH transactions are not cheap anymore and I strongly recommend to avoid using the mentioned cryptocurrencies for gambling. Changelly and Coinswap websites are my preferences for avoiding to make the casino owners rich.

harizen

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Looks like OP is sometimes harming his precious fiat wallet that's why he became more concerned about what crypto should be used in gambling in times like this or when the market is on the bearish trend. Or should I say his gambling funds that mostly ETH are combined with his trading funds so he is really affected about the volatility.

Way different from me as since I enter the world of crypto-gambling. I maintain a good number of crypto on-hand that's why it never makes a point to harm my own precious fiat. It's also separate from what I used as trading funds.

Bull or bear, crypto is still 1:1 in quantity when it comes to gambling. I never involved its USD value when it comes to crypto gambling as long as it's not affecting my fiat holdings.

As for OP, you can make a test if you think what's good for you. We have our own stand on how to deal with this.

Blackdeath

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Quote from: Nadziratel on March 21, 2020, 01:43:50 AM

With the retreat in the price of Bitcoin, this question started to come to my mind. I personally mostly like trading with ETH. I think both liquidity and mobility are faster. However, as a result of the price decrease experienced in the previous weeks, we have seen that the balances we tried to earn are rapidly melting against the USD.

I think we need to completely separate the crypto money we buy for investment and the crypto money we use for gambling. Personally, from this point on, I will use as many USDTs as possible for gambling.

I sometimes use my bitcoin and ETH for gambling because i assume i could win and add it to my holdings, but frequently use ripple in gambling in online casinos because the withdrawal fee in ripple is cheaper than bitcoin and ETH. It is really a good idea to separate our cryptos in our investment and we use in gambling, but there will be a time that you won't care in those separation because as long you want to gamble that will be time that you will use some of your investment in gambling.

Nadziratel

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Quote from: minairia3 on March 21, 2020, 02:34:37 AM

Quote from: Nadziratel on March 21, 2020, 01:43:50 AM

I think we need to completely separate the crypto money we buy for investment and the crypto money we use for gambling. Personally, from this point on, I will use as many USDTs as possible for gambling.

Actually most gambling site utilize the use of major coin such as btc, eth and sometime usdt but majority uses bitcoin. We cant comprehend the usage of such coin and suddenly shift from another coin just because we experience price melt down. Even gambling sites bleed to death as the value of their capital turn down due to crash of market. Why do you think usage of usdt could altered the effects of gambling? Though even using btc you just adjusted with the market tag price.

Actually, the answer is simple for me. I use the day-trade method to increase the number of BTC I have. But gambling is for both fun and money. For this reason, the USD value of the assets I use in gambling is important. That's why I decided to separate my investments for crypto and gambling.

Quote from: Darker45 on March 21, 2020, 02:58:30 AM

Quote from: Nadziratel on March 21, 2020, 01:43:50 AM

I think we need to completely separate the crypto money we buy for investment and the crypto money we use for gambling. Personally, from this point on, I will use as many USDTs as possible for gambling.

First, money for gambling should always be separated from money for investment, money for expenses, money for savings, and so on. Money for gambling should be the least priority, if at all.

Second, if you gamble with USDT, what's the significant difference with using USD? I admit I haven't tried using USDT for gambling. Even the sound of it seems a little strange in a gambling site for me. I cannot remember playing at a casino or betting site accepting USDT.

By the way, I mostly use the leading altcoins for gambling.

No I didn't use USDT until last week. I always prefer ETH for gambling. But I've just decided to change this. I will use USDT anymore.

Quote from: CryptopreneurBrainboss on March 21, 2020, 07:08:34 AM

Quote from: Nadziratel on March 21, 2020, 01:43:50 AM

I think we need to completely separate the crypto money we buy for investment and the crypto money we use for gambling. Personally, from this point on, I will use as many USDTs as possible for gambling.

This should had been one of the very first precautions you should have taken as a gambler and not waiting for the market to experience so bad outcome before this pops into your head. Keeping your investing funds together with your gambling funds make it an easy spending source for when your bets aren't going your way and you need more funds to continue betting.

Regarding the coin I use to gamble, initially I started with the platforms native token and that was one of the criteria I used to select my preferred gambling sites since the bonus usually associated with them were mouthwatering but this day I used any cryptocurrency available on the platform surfer that coin can't determine or affect the outcome of my bets.

As a matter of fact, the amount I had already allocated for investment was separate from the crypto money I had reserved for gambling. But for both of them it was the amount of BTC that was important to me. But from time to time, I cash out the money I earn from gambling. That's why the value of USDT has always been important to me.

For this reason, I plan to keep the amount I reserved for gambling in my wallet as USDT.

carlfebz2

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Quote from: Nadziratel on March 21, 2020, 01:43:50 AM

With the retreat in the price of Bitcoin, this question started to come to my mind. I personally mostly like trading with ETH. I think both liquidity and mobility are faster. However, as a result of the price decrease experienced in the previous weeks, we have seen that the balances we tried to earn are rapidly melting against the USD.

I think we need to completely separate the crypto money we buy for investment and the crypto money we use for gambling. Personally, from this point on, I will use as many USDTs as possible for gambling.

When i do gambler i do just stick with btc and for some time i do make use of Doge and i dont really mind too much on what would be its value as long i do spend it on gambling then i do consider those funds already lost.Therefore, anytime i end up losing im not stressing out myself to think that i should have kept those coins instead.

Most people do make use of bitcoin since this had been always the main crypto that being accepted on most crypto gambling sites or simply does much prefer by all.

matchi2011

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Quote from: Nadziratel on March 21, 2020, 01:43:50 AM

With the retreat in the price of Bitcoin, this question started to come to my mind. I personally mostly like trading with ETH. I think both liquidity and mobility are faster. However, as a result of the price decrease experienced in the previous weeks, we have seen that the balances we tried to earn are rapidly melting against the USD.

I think we need to completely separate the crypto money we buy for investment and the crypto money we use for gambling. Personally, from this point on, I will use as many USDTs as possible for gambling.

Much better to use your USDT for your gambling activities as we don't know where the market will proceed. If you have certain budget for your gambling habit then using usdt will allow you to stay with your certain target. Whatever happened your capital will stay the same unlike if you use crypto assets where movements are unpredictable you might excess to your limits.

AniviaBtc

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Quote from: dunfida on March 21, 2020, 07:11:34 AM

Quote from: Nadziratel on March 21, 2020, 01:43:50 AM

With the retreat in the price of Bitcoin, this question started to come to my mind. I personally mostly like trading with ETH. I think both liquidity and mobility are faster. However, as a result of the price decrease experienced in the previous weeks, we have seen that the balances we tried to earn are rapidly melting against the USD.

I think we need to completely separate the crypto money we buy for investment and the crypto money we use for gambling. Personally, from this point on, I will use as many USDTs as possible for gambling.

It would really just vary on what you are accumulating if you do mind of always on your investment either on ETH or BTC then it would just normal for you to think always corresponding into its
USD value.

If you do have this kind of behavior then you shouldnt play gambling at all and if you do mind on using gambling as a way on accumulating more then you do just simply waste up your money
because gambling doesnt work that way.

Gamble on the amount that you do allocate for that time and dont mind any investment opportunities.

Obviously, it is bitcoin. Almost 90% of people who are answering here in this thread, preferred to use bitcoin when they gamble online. We all know that bitcoin is very efficient to use in many transactions, to pay bills, online payment, and etc., that's why people really use it also in gambling. Bitcoin is also safe to use as its security is in your hand so you should be accountable for your wallet. But you also need to keep some bitcoin for yourself and don't be greedy when gambling. Many gamblers lose a huge amount of money because they want to retrieve all their bitcoin that they've spent and they regret that. Instead of gambling also invest bitcoin in trading and in other businesses not just only in gambling.

ralle14

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Mostly Bitcoin and a few altcoins like ETH, LTC and TRX I only use these whenever I want my deposits to confirm right away since I get used to the instant confirmation feature from one of the bitcoin casinos i've been using. Using stablecoins to gamble would be great but afaik there's only a few casinos that accepts it so making the switch might not be worth it unless you prefer waiting for the price to stabilize before playing again.

Ulven

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Mostly I use btc while gambling online, I focus more on the value I can afford to lose!!!But the decline in the crypto market this week, It made me take a short break and when things get back to normal. Undecided

I will be back to gambling using btc

semobo

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If you wanted to use crypto currencies other than bitcoin for gambling then your choice of selecting gambling sites will get degraded a lot because most of the gambling sites have bitcoin as their only supported currency.But your intention is right its just to avoid messing with our investment capital so you can calculate the amount in bitcoin with USD value as well before making deposit in any gambling sites.

SirLancelot

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Quote from: Nadziratel on March 21, 2020, 01:43:50 AM

I think we need to completely separate the crypto money we buy for investment and the crypto money we use for gambling. Personally, from this point on, I will use as many USDTs as possible for gambling.

Tether? On which gambling house? I have never seen any crypto gambling house is supporting for gambling (I am sure I have played in all reputed houses). What are the backing points for switching to a stable coins for gambling? I mean, could you please justify your decision of adopting usdt for your gambling? I guess you might be a fiat gambler and now in crypto houses, you choose usdt for convenient and easy calculations, right?

I do gamble only with bitcoin and I never think about converting my bitcoins into another coin before gambling. Moreover, I never think about other coins for my gambling but for no reasons. I just started gambling in bitcoins and still gambling with bitcoins for no specific reasons.

kryptqnick

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Quote from: Nadziratel on March 21, 2020, 01:43:50 AM

With the retreat in the price of Bitcoin, this question started to come to my mind. I personally mostly like trading with ETH. I think both liquidity and mobility are faster. However, as a result of the price decrease experienced in the previous weeks, we have seen that the balances we tried to earn are rapidly melting against the USD.

I think we need to completely separate the crypto money we buy for investment and the crypto money we use for gambling. Personally, from this point on, I will use as many USDTs as possible for gambling.

I haven't made transactions with Bitcoin lately (over the past couple of weeks) but I have stopped using altcoins a year ago or more. I don't know, it's just that when Bitcoin started recovering but other cryptos did not, it felt natural to stick to it. Bitcoin is still largely convenient for gambling and other things. It's almost always accepted, the fees aren't that high. With Bitcoin going down, perhaps transaction fees are going to get even lower. I don't know, I don't feel like turning to altcoins. If the concern is the decreasing price, it's not like the alts' prices aren't going down along with it. And as for USDT, I've always been skeptical about using it because of the potential risk of it exploding one day.

alexsandria

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I am using a cryptocurrency ok which the gambling website prefer to used. Just for example if the website requires to use the bitcoin only whenever you are play then probably I will just use the bitcoin and not ethereum.
I am depending on the gambling website if I will use some cryptocurrency or not.

rdluffy

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In the website I use to gamble, BTC is the only crypto accepted, so only BTC here
But I wish I can gamble with another currencies, like Doge or ETH for example, because we can pay less fees to transfer and maybe we can gamble more with these currencies

nakamura12

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I won't be surprise that it's always btc are used in gambling sites but if a gambling site also use other cryptocurrency and also supports exchaning your btc to the other cryptocurrency they also accept as payment. In that way, after gambling you can exchange your btc winnings to the crypto you want and then enjoy paying small fee for withdrawal. I'm sure you know that other crypto have lower fees than bitcoin when withdrawing your balance.

Topic: Which cryptocurrency do you use for gambling frequently? - page 6. (Read 634 times)