Gambling In Crypto

[madnessteat]

Most of us here are crypto gamblers, the pros I can see with crypto is that it's anonymous and there's a lot of available coins that gambling site accepts cryptocurrency, the downside is that the price is volatile but not much of a problem another downside is the tx fee especially with Bitcoin and Ethereum. In regards with fiat if it is stable but most of the gambling sites won't allow you to withdraw big amount of money.

If you are worried about the volatility of cryptocurrencies, do not deposit large sums at gambling sites, and if you increase your account by winning, then withdraw funds and change them into stabelcoins. Many gambling sites offer an opportunity to deposit and play in stabelcoins which have no volatility compared to BTC or Ethereum.

[khaled0111]

If you are talking about the gambling experience itself, then I would say it's almost the same regardless of whether you're playing with fiat or cryptos. Fiat and crypto casinos have practically the same games and offer the same features.

There are few advantages in gambling in crypto though, such as the low transactions fees, higher withdrawal limits, less stringent kyc requirements and most of all availability in countries where thete are limits for foreign transactions.

[Raflesia]

Even if we have mandatory KYC it is more convenient in crypto casino when it comes to deposit and withdrawals because we don't have to wait for the banks to approve our transaction or ask the source of funds when it comes to deposit. Apart from that everything is similar but in future more crypto casino then it will give better choice for the gamblers to pick.

Indeed, some casinos have been required to KYC according to their procedures as a condition, but it will still be the cryptocurrency of choice compared to fiat, we are easier to use in transactions called P2P so there is no other party and our deposits or withdrawals will remain anonymous, that's what becomes my choice.
Honestly, that's what is doubtful about depositing Fiat when later you are asked where the source of the funds will come from, then this will be more difficult to explain and of course it will take time to provide an explanation.

It is not anonymous gambling anymore when you get KYC'ed by the casino which kills the purpose of gambling with cryptocurrencies. There are certain casinos like freebitco.in which don't ask for KYC. (they never did as far as I know) Unless you play on these casinos, it makes no difference whether you use FIAT or crypto. They'll know who you are.

Correction accepted
You're right maybe more accurately anonymity is really difficult when casinos ask us to complete KYC. It's just not enough at one or two bets because we have a lot of options to play. KYC is unavoidable, it's just that as much as possible choosing and selecting a reputable casino can minimize something that is not expected. It goes back to the gambler's own criteria, does he really want to stay away from KYC? almost every casino is now under government surveillance.

So do you feel up to this moment your personal data is still safe?

[bitzizzix]

the most striking and most important difference is KYC, because many players do not want to reveal their identities and therefore using crypto is the right solution because it is anonymous.
Crypto casinos continue to grow and become popular because of the many advantages, especially identity security, convenience and also fast and cheap transactions that make people who are familiar with crypto switch to using crypto for betting, and many other advantages over casinos that use fiat.

[Zilon]

the most striking and most important difference is KYC, because many players do not want to reveal their identities and therefore using crypto is the right solution because it is anonymous.
Crypto casinos continue to grow and become popular because of the many advantages, especially identity security, convenience and also fast and cheap transactions that make people who are familiar with crypto switch to using crypto for betting, and many other advantages over casinos that use fiat.

Not all crypto gambling. It's only in Blockchain gambling platforms that you see a total KYC free gambling sites. I will buy into the fast and convience opportunity created with crypto gambling and to add to it it's more easier funding with larger amount and moving them back to your wallets without having the centralized financial institution interfering in how much moves between your gambling wallets and your non-custodial wallet

[johhnyUA]

If you are worried about the volatility of cryptocurrencies, do not deposit large sums at gambling sites, and if you increase your account by winning, then withdraw funds and change them into stabelcoins. Many gambling sites offer an opportunity to deposit and play in stabelcoins which have no volatility compared to BTC or Ethereum.

From that point of view, it will be really easier just do not use crypto for gambling, rather deposit small sums etc
Especially, that nowadays crypto casinos ask for KYC the same as ordinary. But, for example, pokerstars.com have a license of UK/USA and i'm more confident that my personal data will be in safe with licensed casino.

So there only two reasons to play with crypto: if you want to make more crypto or if you found crypto casino without KYC

[AmoreJaz]

the most striking and most important difference is KYC, because many players do not want to reveal their identities and therefore using crypto is the right solution because it is anonymous.
Crypto casinos continue to grow and become popular because of the many advantages, especially identity security, convenience and also fast and cheap transactions that make people who are familiar with crypto switch to using crypto for betting, and many other advantages over casinos that use fiat.

Not all crypto gambling. It's only in Blockchain gambling platforms that you see a total KYC free gambling sites. I will buy into the fast and convience opportunity created with crypto gambling and to add to it it's more easier funding with larger amount and moving them back to your wallets without having the centralized financial institution interfering in how much moves between your gambling wallets and your non-custodial wallet

what do you mean by blockchain gambling here? do you mean decentralised casinos? anyway, i somewhat agree about most casinos here - even if they say they are not requiring KYC, but if you are a high roller, expect that at some point they may ask KYC from you. this is to avoid possible violation from their respective gaming license authority.
but i noticed that most popular casinos are centralised. those dapp casinos are not doing good as compared to popular centralised casinos. but maybe, that's just my observation.

[passwordnow]

I wonder what makes things different by the word effective, effective on what? winning, playing, or depositing, there's hardly difference except you are using a Crypto where you are anonymous and you can track your payment and the transaction is fast when it comes to games and features, there's little difference,

Maybe the likes of him and it's more convenient to him to gamble in crypto and not with fiat. People who have experienced both which mostly all of us here got into both of them.

Crypto casinos are beating the fiat-based casinos, there are always new casinos every month in Cryptocurrency gambling.

Crypto casinos are popular these days because of the easier process that they implement rather than the fiat online casinos. And as we see new casinos coming, we also need to be careful with them because not all of them are here in business.

[Lanatsa]

the most striking and most important difference is KYC, because many players do not want to reveal their identities and therefore using crypto is the right solution because it is anonymous.
Crypto casinos continue to grow and become popular because of the many advantages, especially identity security, convenience and also fast and cheap transactions that make people who are familiar with crypto switch to using crypto for betting, and many other advantages over casinos that use fiat.

Not all crypto gambling. It's only in Blockchain gambling platforms that you see a total KYC free gambling sites. I will buy into the fast and convience opportunity created with crypto gambling and to add to it it's more easier funding with larger amount and moving them back to your wallets without having the centralized financial institution interfering in how much moves between your gambling wallets and your non-custodial wallet

what do you mean by blockchain gambling here? do you mean decentralised casinos? anyway, i somewhat agree about most casinos here - even if they say they are not requiring KYC, but if you are a high roller, expect that at some point they may ask KYC from you. this is to avoid possible violation from their respective gaming license authority.
but i noticed that most popular casinos are centralised. those dapp casinos are not doing good as compared to popular centralised casinos. but maybe, that's just my observation.

For sure most of us aren't blind on not to see that decentralized casinos doesn't really get much attention compared to centralized casinos that we do have as of today basing off with numbers then theres

really a huge gap in between two which we can really conclude that majority of gamblers are fine on dealing on popular sites now.I don't have much idea if those big depositors or rollers would be asked

out with some mandatory KYC or would not ask despite of being a whale player but I wont be surprised if they would considering the amount involved plus its a platform which is
really abiding some government rules.

[DoublerHunter]

the most striking and most important difference is KYC, because many players do not want to reveal their identities and therefore using crypto is the right solution because it is anonymous.
Crypto casinos continue to grow and become popular because of the many advantages, especially identity security, convenience and also fast and cheap transactions that make people who are familiar with crypto switch to using crypto for betting, and many other advantages over casinos that use fiat.

^ But the fact is, due to the KYC compliance there are few crypto gambling casinos that are mandatory to have KYC procedure.
So not all crypto gambling casino is free from KYC, they can also ask KYC especially if you are a big player which is expecting large deposits.
However, a crypto casino is very convenient to use and while you can also hold your asset while waiting when it will raise back again and if that will happen, it seems you have been won twice.

[KTChampions]

Most of us here are crypto gamblers, the pros I can see with crypto is that it's anonymous and there's a lot of available coins that gambling site accepts cryptocurrency, the downside is that the price is volatile but not much of a problem another downside is the tx fee especially with Bitcoin and Ethereum. In regards with fiat if it is stable but most of the gambling sites won't allow you to withdraw big amount of money.

Commissions for transferring funds in bitcoin have been very small for quite a long time, at least for replenishing an account. Casinos are usually insured and use a flat withdrawal fee, but you can withdraw in another cheaper currency. It is better not to deal with Ethereum at all (unless you are a high roller) the commissions are absolutely unacceptable. If you are worried about volatility, then use stablecoins, most casinos work with them, and by the way, working with them in the Solana and Tron networks requires meager commissions.

[alegotardo]

Recently I have started to gamble with crypto, and other coins. Looking to speak with anyone who has had similar experiences. I find it much more effective than gambling with fiat. Let’s use this thread to discuss pros/cons and how us users can improve it!

Thanks!

So, when choosing cryptos you get much more privacy because you don't need to use third parties to send funds to the casino, crypto goes straight from your wallet to the casino's.
As for KYC, at least to play it you will not have to go through this verification, but if you have high winnings at the casino and want to withdraw a high amount, even in a crypto game you will possibly have to do KYC, depending on the site .
As for Fiat casinos, I don't see any advantages.

[Theones]

If you are talking about the gambling experience itself, then I would say it's almost the same regardless of whether you're playing with fiat or cryptos. Fiat and crypto casinos have practically the same games and offer the same features.

When it comes to crypto and fiat gambling, there are no differences, except that in some casinos you can play anonymously for cryptocurrencies. When it comes to fiat, verification is always required. Besides that, the games and features are almost identical.
The differences are between gambling in a casino and betting on sports results at a bookmaker.

[Fatunad]

If you are talking about the gambling experience itself, then I would say it's almost the same regardless of whether you're playing with fiat or cryptos. Fiat and crypto casinos have practically the same games and offer the same features.

When it comes to crypto and fiat gambling, there are no differences, except that in some casinos you can play anonymously for cryptocurrencies. When it comes to fiat, verification is always required. Besides that, the games and features are almost identical.
The differences are between gambling in a casino and betting on sports results at a bookmaker.

Almost identical which i do really agree and they do really differ in terms of payment options plus having that verification/KYC which do most people do really hate and this is why
they do much prefer on using or playing here on cryptospace.Gambling in crypto does offer some several games which are unique or cant be seen on fiats which you could
choose wide variety of them specially on crash and other luck based ones which you cant find in fiat which it do really make me switch up whether dealing on a fiat
casino or crypto one wouldnt really matter as long you do enjoy then thats already considered good.

[Naficopa]

Recently I have started to gamble with crypto, and other coins. Looking to speak with anyone who has had similar experiences. I find it much more effective than gambling with fiat. Let’s use this thread to discuss pros/cons and how us users can improve it!

Thanks!

I don't know what you mean by "effective"? As for the fact that playing for cryptocurrencies there is a greater chance of winning than playing for fiat, I doubt that it would be so. I think the probability of winning is very similar, but of course it depends on each casino and its House Edge. However, the big advantage can be authentication via blockchain when the crypto casino is provably fair.

[Quidat]

Recently I have started to gamble with crypto, and other coins. Looking to speak with anyone who has had similar experiences. I find it much more effective than gambling with fiat. Let’s use this thread to discuss pros/cons and how us users can improve it!

Thanks!

I don't know what you mean by "effective"? As for the fact that playing for cryptocurrencies there is a greater chance of winning than playing for fiat, I doubt that it would be so. I think the probability of winning is very similar, but of course it depends on each casino and its House Edge. However, the big advantage can be authentication via blockchain when the crypto casino is provably fair.

I dont believe about chances of winning  differences because odds would really be just the same neither you do engage with fiat or crypto it would really be just the same.
They would only vary on payment terms and that verifying bets same as you mentioned which do really give out some impressions that you are dealing with things fairly
Unlike when you do play on fiat casinos which you couldnt be sure if they are fair or not and thats truly an advantage or good to know as a gambler
or user of a site.

[Oasisman]

If you are talking about the gambling experience itself, then I would say it's almost the same regardless of whether you're playing with fiat or cryptos. Fiat and crypto casinos have practically the same games and offer the same features.

When it comes to crypto and fiat gambling, there are no differences, except that in some casinos you can play anonymously for cryptocurrencies. When it comes to fiat, verification is always required. Besides that, the games and features are almost identical.
The differences are between gambling in a casino and betting on sports results at a bookmaker.

No difference? Of course there is a difference.
When you're transfering your fund to an online casino, it'll usually takes time for fiat to reach to your account, especially if there's a need for you to convert your local currency into dollars. For that you'll be charge for another buck even before you make the transfer. While, crypto doesn't need to be converted (in most occasion) and It'll almost instantly deposited to your online casino account.
That's one of the huge difference between the two except for the anonymity which also makes the huge difference as well.

[harizen]

If you are worried about the volatility of cryptocurrencies, do not deposit large sums at gambling sites, and if you increase your account by winning, then withdraw funds and change them into stabelcoins.

I can't see the sense of doing it. If we deposit by batches, we might end up paying more fees.

For gambling-related activities, just deposit the amount we are willing to risk then gamble it properly. No need by batches or small amount.

[timerland]

Recently I have started to gamble with crypto, and other coins. Looking to speak with anyone who has had similar experiences. I find it much more effective than gambling with fiat. Let’s use this thread to discuss pros/cons and how us users can improve it!

Thanks!

The community aspect of most crypto casinos are simply unmatched by current fiat counterparts.

Also, the fact that you can deposit and withdraw funds almost on an instantaneous basis is definitely worth using crypto tokens imo.

Plus, if you were bullish on crypto (like me), you don't necessarily want to gamble in a native fiat ecosystem as you miss out on the potential capital gains that crypto brings to the table.

[michellee]

My point is, there are no differences when it comes to the types of games. It's practically the same whether you bet with cryptocurrencies or fiat. When it comes to deposits and withdrawals, of course I agree that they are usually much faster with cryptocurrencies.

I guess the feelings will be different from using fiat and crypto as we know that fiat gambling sites will need us to follow their rules, including doing KYC, while in crypto gambling sites, some crypto gambling sites will let their users without doing KYC. That is the more benefits of crypto gambling sites than fiat gambling sites and we who use crypto will stay anonymous while playing gambling. But some fiat-crypto gambling users will still use fiat to gamble as they do not want to try a new experience.