Considering huge transaction fees, what coins to support on new gambling site?

[walrusbite]

With fees so high, I'm wondering if big gamblers are switching from BTC/ETH to other options. Is there any data on what's being used? With limited options, what coins should a new platform consider supporting?

Edit: thanks for all the responses!

[ralle14]

I think it's more on the smaller gamblers that are forced to make the switch since their bankroll takes a huge hit on the fees that's required by the casinos.

If bitcoin casinos plan to accept altcoins then the safest play is to probably go with one of the top alts like ETH, LTC, XRP, etc since most exchanges accept these coins.

Imo casinos should put an option for batched transaction rather than accepting altcoins since there's still a lot of gamblers that prefer to use bitcoin.

[FinneysTrueVision]

Dogecoin has always been a popular choice and so has litecoin. Almost every casino that supports altcoins supports these two currencies. There are some coins with higher market caps but they are primarily used for smart contracts so not very many people use them for gambling. Doge and LTC's main purpose has been to avoid high fees. Doge is also very popular right now so you might as well take advantage of that since people will be looking for places where it is an accepted currency.

[michellee]

You can add TRX, Doge, EOS, Waves, XEM and XRP for the coin, which has a low transaction fee. But you can still use bitcoin, ethereum, litecoin, as many gamblers will still use those coins. Besides the coins with high transaction fees, you have the other altcoins, which can be convenient to most gamblers who want to avoid the high fee.

[jrrsparkles]

Doge and Tron are having cheaper transaction fee and already most of the casinos are having these coins into their accepted payment coins. But there are some bitcoin only casinos are also available which may not accept any altcoins and they are still doing good with Bitcoin itself.

[Hippocrypto]

With fees so high, I'm wondering if big gamblers are switching from BTC/ETH to other options. Is there any data on what's being used? With limited options, what coins should a new platform consider supporting?

Many gamblers chooses to stay with bitcoin gambling as their gambling investments because they find it more sustainable rather than altcoins. In most cases, altcoins invested with gambling tend to lost along the way and couldn't sustain longer. Always prefer choosing the stable cryptocurrency which potentially bring your asset to a secure future, even though gambling has no assurance but if you're lucky enough to win I think you'll be able to reach the goals that you ever dreamed of.

[Wexnident]

DOGE and XRP are coins that have relatively low transaction fees compared to others. Some gambling sites accept these, but some only accept BTC/ETH, and users are forced to bear with the fees (though you just gotta time it really during when the network isn't that congested). Still, it isn't like all users are forced, some users just like using BTC/ETH and just can't be assed to trade it before sending it to casinos, so they just use it as it is.

Long story short, people aren't exactly leaving the usage of BTC/ETH in casinos, but there are better alternatives if you're looking for low transaction fees.

[Strongkored]

Some cryptocurrencies with low tx fees have been answer above my post, which have not been mentioned and have also gambling site started to use it as their payment option is BNB, BNB tx fees are quite cheap.

[Little Mouse]

You are referring to big gamblers while this high transaction fee means nothing to them while for small gamblers, it’s ruining. I would be fine playing with LTC, or USDT (TRC20) as fee for both are pretty low. And you know LTC is a big hand for the people using crypto for small payment.

[virasisog]

It depends most rich people don't consider what they have to pay just to save money for the fees. I guess most small gamblers do this, I personally switch to XRP when I gamble even before the price hiked to its peak. I also don't use BTC or ETH when gambling not just to save fees, I prefer keeping them than to gamble with it.

[electronicash]

You can add TRX, Doge, EOS, Waves, XEM and XRP for the coin, which has a low transaction fee. But you can still use bitcoin, ethereum, litecoin, as many gamblers will still use those coins. Besides the coins with high transaction fees, you have the other altcoins, which can be convenient to most gamblers who want to avoid the high fee.

when you are on the platform and have deposited to it anyway, you don't have to pay transaction fees to bet, the only worries will be withdrawing the BTC or ETH.
the one that i use often is the TRON for cheap fees. EOS has a good way of doing things because the transactions are free as long as you keep some for the CPU and RAM for your wallet. someone suggested EOS before and upon closer look by using tokenpocket, a user will have access to gambling dapps and he can bet without having to pay fees.

[Kakmakr]

Yes, the transaction fees can be a deciding factor for many to switch to a Alt coins... like Doge and XRP and TRX and also LTC. I see a lot of guys complaining about long waiting times for confirmations of their deposits at some casinos and I think that is a bigger problem than the size of the transaction fees. (People do not want to wait 2 to 3 hours ...or even 10 minutes for deposits to be confirmed)

There should be some link to a "How to guide" on the site, to help newbies to Alt coins to do this in a safe manner, because there are lots of scam wallets out there. 

[michellee]

You can add TRX, Doge, EOS, Waves, XEM and XRP for the coin, which has a low transaction fee. But you can still use bitcoin, ethereum, litecoin, as many gamblers will still use those coins. Besides the coins with high transaction fees, you have the other altcoins, which can be convenient to most gamblers who want to avoid the high fee.

when you are on the platform and have deposited to it anyway, you don't have to pay transaction fees to bet, the only worries will be withdrawing the BTC or ETH.
the one that i use often is the TRON for cheap fees. EOS has a good way of doing things because the transactions are free as long as you keep some for the CPU and RAM for your wallet. someone suggested EOS before and upon closer look by using tokenpocket, a user will have access to gambling dapps and he can bet without having to pay fees.

When you send the money from the exchanges or the other wallet and use bitcoin and ethereum, the fee will be high compared with the bitcoin and ethereum price. So if you want to use the altcoin, which has low fees, you can send a big amount of that altcoin without paying the high fees. I think TRON is good enough for us to use it for gamble because of the low fees and the withdrawal fee, so I think @OP can consider adding TRON as an alternative coin to gamble.

[swogerino]

I personally prefer Litecoin from the major cryptos but I know there are a lot of altcoins which have really cheap fees.It depends what you should implement in your site based on what your users use more,so far many gamblers prefer the top 10 major cryptos for playing so you cannot go wrong if you choose the coin with less fees from this list.

[Yaunfitda]

With fees so high, I'm wondering if big gamblers are switching from BTC/ETH to other options. Is there any data on what's being used? With limited options, what coins should a new platform consider supporting?

I don't know if we have the data now, but I would agree that many gamblers, from average joes to whales are shifting to other coins. And the good thing is that many top casino's right now are offering a lot of options. I would say: Tron, LTC, some other stable coins, BNB, Doge or Dash.

Might has some learning curves though for some gamblers, but it's worth if they learn how to obtain those crypto's for their gaming pleasure.

[Bttzed03]

XRP have been mentioned a few times already but I wouldn't suggest that for now. You can add them later on once they won the case filed by the SEC against them.

You also need to add a stable coins but avoid those issued on Ethereum. USDT (TRC-20) as mentioned by @Little Mouse and/or BUSD (BEP-20) are cheap on transaction fees.

[zanezane]

Maybe a Doge, Ripple and Litecoin will do the job, I don't gamble so I don't know which one is good and the coins that I suggested are some of the coins that I have heard in the forum used by some gamblers but I don't think that any coins with high transaction fee like Bitcoin or Ethereum is a good coin for gambling, not to mention that their prices are high.

[$crypto$]

You also need to add a stable coins but avoid those issued on Ethereum. USDT (TRC-20) as mentioned by @Little Mouse and/or BUSD (BEP-20) are cheap on transaction fees.

So can the gambling industry platform add to the bsc / Bep20 network it looks very attractive if a platform implements a system like this, it is much cheaper and faster in the transactions they use in depositing / withdrawing.

We know now that there are many options that the platform has provided at a very low cost, they will still leave the erc20 network because it is still expensive, with a few coins added it will be a solution and the cost will not cost $1.

[Bttzed03]

~
So can the gambling industry platform add to the bsc / Bep20 network it looks very attractive if a platform implements a system like this, it is much cheaper and faster in the transactions they use in depositing / withdrawing.

Yes. If a casino can add erc-20 tokens to their platform, I don't see any difficulty adding BEP-20 because they are almost identical.

You can check Betfury's BNB, it's the BEP-20 version and not BEP2.

[imstillthebest]

big gamblers love to use btc and eth and theres no way the fees can scare them to switch on other cryptos because big gamblers only trust the original  but it was the small gambler that are switching into smaller fees coin to continue enjoying playing a gambling  .
 . and what limited option ? we have lots of cryptos but if the casino limits you from chosing another coin ,
you can switch on different casino that supports wide range of coins .