help on selecting stablecoin for gambling site

[trauchot]

Tether is the most popular stable coin and I think it would be the best to choose Tether, but already long time the Ethereum blockchain has been heavily overloaded and therefore it is not worth choosing Tether ERC-20, so now people more use Tether TRC-20, since the fees on the tron blockchain are much lower than on the Ethereum blockhain, and of course transactions through the Tron blockchain are also carried out very quickly, so I think the choice is obvious here, but of course it's up to you to decide.

[michellee]

thanks guys. I think Ill use the tron and maybe ill convert it to stable coin in the end. and I will add the rest deposit methods as you advised. I will add all coins that my hardware wallet accept.

Using tron will be good as that coin have a low fee of the transaction. Maybe you can add more altcoins that have a low fee, like tron. Usdt base on trc20 can be a good solution as the fee is not too high compared to etc20.

If your site is new, maybe you can test one by one of the stable coins to find which one will work perfectly for your site. And then, you can add the altcoin and bitcoin and ask for a review from the tester so you can get more suggestion from them.

[Vaculin]

Hey, I am developing a gambling site and I need advice on which stable coin to select. I am thinking about DAI, BUSD, or Tether. Which one has less fees on transactions? BUSD? any other suggestions?

I suggest taking them all. Fees could somewhat change, so this will not matter a lot of what stables coin to accept but have to think the needs of your client and I think they are certainly looking for more possible options, not just one.
You can never tell which stable coins have a higher demand unless if you try them. In fact, you can disable any of them if you think it was not really needed. What I wanted to tell is that it needs some trials just to find out if that really works or not, or to have additional options.

[ryzaadit]

You got a simple answer for your question!

Any stable coin not using "ETH-chain" you can choose a stable coin running on "TRX & BUSD" the fee for transaction stable coin from the exchange around 0.5-1$ for TRX chain and free charge until now on binance without any fee at all on "BUSD".

[luckypiglive]

You know that stablecoins are centralized and can be frozen and seized by those who control them? This means that BUSD and Tether are out of the question, because when your gambling site will gain enough volume, someone will notice it and your wallets could get frozen.

DAI and other algorithmic stablecoins is the only option, although you should research if they are fully immutable or also have "backdoors".

I didn't think about the volume. I think I'll stick with Tron as main deposit method and maybe I'll keep my balance in BTC. or trx. Which is the most stable coin to hold my balance? This 2 are good? I see trx is somehow stable.

[Jackl87]

Hey, I am developing a gambling site and I need advice on which stable coin to select. I am thinking about DAI, BUSD, or Tether. Which one has less fees on transactions? BUSD? any other suggestions?

BUSD is a native binance chain token and binance smart chain has very low fees and almost instant transactions. USDT and USDC can also be used on binance smart chain though you can transfer them between the Ethereum and the binance smart chain network by using one of the bridges out there for example binance bridge. So i guess stalbe coins that run on BSC are a very good choice for you. There will probably be other chains around that are also having low fees and stable coins but i don't know about that to be honest.

[mindrust]

Hey, I am developing a gambling site and I need advice on which stable coin to select. I am thinking about DAI, BUSD, or Tether. Which one has less fees on transactions? BUSD? any other suggestions?

Tether or BUSD.

I think both of them are pretty common but tether is by far a lot more common and widely used

I've heard anyone using DAI so I would advise you to ignore that one.

Tether on Tronchain works very cheap. It is too expensive on Omnichain and Eth however.

[passwordnow]

Can't you just add all of them for the preference of everyone and that's a good option if you're going to be with a stable coin? But if it's with USDT then I would agree with the trc20 protocol because of the fees.
AFAIK, there's also USDT for Bep20.

its a player vs player roylette and blackjack. its not exactly casino. I will just take fees from the games played and players will win each others money not mine.

It can accept all types of coins, however I was thinking about stable coins to be more easy for the players to know how much they are betting.

what do you think guys?

I get it, that's like a PvP game for which the money that shall be won by the other player is the bet of the player. I think that's a good strategy if you're not going to put up that much money and the amount would be coming from the opponent instead of the casino's pocket.
If you're adding all types of coins, that's already a good option for most don't stick only on one coin but if you're giving a lot of option, if they have some spare on their portfolio, they can deposit whatever they want which is supported by your casino.

[luckypiglive]

Can't you just add all of them for the preference of everyone and that's a good option if you're going to be with a stable coin? But if it's with USDT then I would agree with the trc20 protocol because of the fees.
AFAIK, there's also USDT for Bep20.

its a player vs player roylette and blackjack. its not exactly casino. I will just take fees from the games played and players will win each others money not mine.

It can accept all types of coins, however I was thinking about stable coins to be more easy for the players to know how much they are betting.

what do you think guys?

I get it, that's like a PvP game for which the money that shall be won by the other player is the bet of the player. I think that's a good strategy if you're not going to put up that much money and the amount would be coming from the opponent instead of the casino's pocket.
If you're adding all types of coins, that's already a good option for most don't stick only on one coin but if you're giving a lot of option, if they have some spare on their portfolio, they can deposit whatever they want which is supported by your casino.

yes exactly. for example 4 friends can do account and deposit for example 10 doge coins each and they bet. one of them will take the deposited coins once he win. thats why I need it to be cheap the transactions so they can play with small money.

no I won't be paying any of the winnings. I will simply take a % from the deposited money each round. Its like a gambling club rather than a casino.

It was very popular in my country this type of gambling, since is fair and its no way to be tricked the player from the casino. In my country this type was available in small brick and mortar clubs/pubs like establishments. some of them was having also ladies inside. this is a digital form of a gentlemens gambling club ! You think I could add also some live cams? lol!

Yeah I think I will follow your advice and add multiple coins. I see that this days one payment option is not a wise choice.

[passwordnow]

yes exactly. for example 4 friends can do account and deposit for example 10 doge coins each and they bet. one of them will take the deposited coins once he win. thats why I need it to be cheap the transactions so they can play with small money.

no I won't be paying any of the winnings. I will simply take a % from the deposited money each round. Its like a gambling club rather than a casino.

It was very popular in my country this type of gambling, since is fair and its no way to be tricked the player from the casino. In my country this type was available in small brick and mortar clubs/pubs like establishments. some of them was having also ladies inside. this is a digital form of a gentlemens gambling club ! You think I could add also some live cams? lol!

Yeah I think I will follow your advice and add multiple coins. I see that this days one payment option is not a wise choice.

I understand the mechanics and how you'll earn from this. It's a P2P/PvP gambling and you'll be taking share for each of winner's take from his opponent's money. That's a good business model if you don't want to spend money on your own and the casino will just serve as a hub for those who want to bet. But to tell you, it's hard to find those casinos that are successful in this niche, there have been trials of it in the past but almost no luck for most of them however, I wish you luck.

[Little Mouse]

Tether (trc20) would be the best as most people out there used to use this chain and the fee is low too. Regarding BUSD, I think not many people use it or know it, only traders from Binance knows the coin. You can make it an option but allowing only BUSD wouldn’t be discouraged.

[lixer]

Hey, I am developing a gambling site and I need advice on which stable coin to select. I am thinking about DAI, BUSD, or Tether. Which one has less fees on transactions? BUSD? any other suggestions?

USDT might be a good choice in this case, that’s if you’re going to be judging based on the popularity of the coins you’re going to be using. USDT has more usage rate than other stable cryptocurrencies, so it’s going to be a good option to go with here since there are more likely going to be more of your site users that will be using it.

The next option that you can go with, if not USDT, is DAI. To be honest here I prefer DAI over others you have mentioned. No need to go into details on this, you can do your research on it. It’s just like saying you prefer Ethereum over Bitcoin, but you know very well that Bitcoin is more popular. So you can provide both of them as an option, so people can make the choice for themselves.

[semobo]

Hey, I am developing a gambling site and I need advice on which stable coin to select. I am thinking about DAI, BUSD, or Tether. Which one has less fees on transactions? BUSD? any other suggestions?

DAI running on ethereum network means the network fee is high at the moment so you can choose Tether which is running on multiple blockchain but one on the TRC has less fee than others while BUSD running on BSC so you can have the less transaction fee than other coins you mentioned. But since you are building a gambling site then don't just restrict people from choosing a single coin just have multiple options so you will have wide range of customers.

[luckypiglive]

I understand the mechanics and how you'll earn from this. It's a P2P/PvP gambling and you'll be taking share for each of winner's take from his opponent's money. That's a good business model if you don't want to spend money on your own and the casino will just serve as a hub for those who want to bet. But to tell you, it's hard to find those casinos that are successful in this niche, there have been trials of it in the past but almost no luck for most of them however, I wish you luck.

I have read that microgaming multiplaeyer roulette is doing well and is a succesful game. I think is all about marketing. if it can readh the right audience, it will work.

I am thinking to add also some slot machines.

[wajik-tempe]

Any crypto-stable coin are good for depositing to your website, but i think people are most familiar with tether since it was the first stable fiat cryptocurrency available. So i think it's better to use USDT. But another usd based coin are good also like BUSD

[Chato1977]

Tether has the highest trading volume, I will advice you to use it, let it support TRC20 USDT for low fee because the Omini layer and the ERC20 USDT have high fee but there is nothing bad to also included it.

+1 on this mate , USDT is still the highest trading volume stable coin and me myself
 using this for long time now and yes this is comfort to use and very safe.

Any crypto-stable coin are good for depositing to your website, but i think people are most familiar with tether since it was the first stable fiat cryptocurrency available. So i think it's better to use USDT. But another usd based coin are good also like BUSD

Tether is the most popular and most used.

[Oshosondy]

Any crypto-stable coin are good for depositing to your website, but i think people are most familiar with tether since it was the first stable fiat cryptocurrency available. So i think it's better to use USDT. But another usd based coin are good also like BUSD

Some stable coins have low trading volume, this will be a disadvantage. Some stable coins are not stable but their price fluctuates a little especially during bull run or bear market when there are too many demand or supply, some people do not just like high fee ones like the USDT on bitcoin and ethereum blockchain, though these high fee ones can be included but low fee ones like USDT on Tron blockchain are the best.

[irsykes]

Hey, I am developing a gambling site and I need advice on which stable coin to select. I am thinking about DAI, BUSD, or Tether. Which one has less fees on transactions? BUSD? any other suggestions?

USDT (Tether) TRC20 is already fit for your gambling site. People can make deposit from some exchanges because they now allow people to withdraw USDT in any chain that we can pick whatever we want. Maybe other people will answer same thing too.