Kryptosino.com - The #1 Shiba Casino

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In comparison to these, we charge a 0% fee on deposits/withdrawals and have reduced our minimum withdrawal amount for cryptocurrencies in response to community feedback, making it lower than most now.

0% fee on deposit makes sense but 0% fee on withdrawal looks very good for users but is it good for your company?

It can eat a lot of your company budget by waiving withdrawal fee on users. Years ago FTX did the same with withdrawal on Ethereum blockchain when transaction fee on it was super expensive. Their collapse has many reasons but that policy on withdrawal fee is not good at all, but of course they provide it and I actually used it.

Thank you for both links, they are very much appreciated.

Glad to help.

[AHOYBRAUSE]

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0% withdrawal fee means the casino does not charge users any percentage of their withdrawal amounts, but the user still pays the networ fee to facilitate the transaction.

A change in the network feerate does not affect this on the side of the casino, but the gamblers has to pay more in fees to get their transactions confirmed.

Ah, then I also misunderstood, I thought they cover the network fee as well. You can't call it 0% withdrawal fee then.  In my time using gambling sites I have actually never encountered any site that would charge a fee to deposit (first of all) or withdraw. The only fees I ever paid was the network fees. Sometimes it was a lump sum, which I really didn't like because mostly the player overpaid but recently often enough sites use tome kind of a dynamic fee which adjusts to current network fees. I think it's the best way for players because they can be sure not to be overcharged and it's also good for the sites since they are not in danger to lose money on fees.

[KryptoFather]

0% fee on deposit makes sense but 0% fee on withdrawal looks very good for users but is it good for your company?

I should clarify that 0% fee means we do not charge extra for users to make withdrawals, this does not mean transaction fees are waived.

The only fees I ever paid was the network fees. Sometimes it was a lump sum, which I really didn't like because mostly the player overpaid but recently often enough sites use tome kind of a dynamic fee which adjusts to current network fees. I think it's the best way for players because they can be sure not to be overcharged and it's also good for the sites since they are not in danger to lose money on fees.

Fees paid are dynamic so you will not get overcharged.

[Text]

I should clarify that 0% fee means we do not charge extra for users to make withdrawals, this does not mean transaction fees are waived.

Fees paid are dynamic so you will not get overcharged.

Thanks for the clarification! It's good to know that while there are no additional withdrawal fees, the dynamic network fees ensure fairness for both users and the platform. I agree with the approach of adjusting fees based on the current network conditions, it strikes a balance by preventing users from being overcharged while also protecting the site from potential losses. It's a win-win situation! I'm glad to see that you're taking steps to ensure a positive experience for your players.

[Falconer]

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I think you are right. The casino does not charge any fees on withdrawals but the user still needs to pay the network fees. It’s not going to be profitable for them to pay those fees especially that they are using a third party service as a payment gateway.
Not sure about this, but it seems they are using Finrax payment gateway services and according to their website their withdrawal fees are reasonable except for bitcoin.

Crypto withdrawal fees will usually be adjusted to the fee requirements for each crypto withdrawn by the customer. If they withdraw bitcoin, it means the transaction fees will be adjusted to the recommended minimum or standard fee requirements as we can see in the mempool. Congested mempool conditions will require higher transaction fees to be confirmed more quickly, so transaction fees can be adjusted based on mempool conditions. So withdrawal fees are fully borne by the user.

[KryptoFather]

Thanks for the clarification! It's good to know that while there are no additional withdrawal fees, the dynamic network fees ensure fairness for both users and the platform.

We are fully committed to fairness and transparency

so transaction fees can be adjusted based on mempool conditions. So withdrawal fees are fully borne by the user.

You are right. The fees are dynamic and respond the the average fee rate at that time.

[_BlackStar]

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Crypto withdrawal fees will usually be adjusted to the fee requirements for each crypto withdrawn by the customer. If they withdraw bitcoin, it means the transaction fees will be adjusted to the recommended minimum or standard fee requirements as we can see in the mempool. Congested mempool conditions will require higher transaction fees to be confirmed more quickly, so transaction fees can be adjusted based on mempool conditions. So withdrawal fees are fully borne by the user.

Withdrawal fees are dynamic as @KryptoFather acknowledged - however if you are not happy with high withdrawal fees on a particular network ^{[e.g. bitcoin at sometimes]} then you can choose other withdrawal methods including altcoin. All this doesn't only apply to Krytosino - it's the same at other casinos too.

[KryptoFather]

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[KryptoFather]

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