Gambling sites and current transactions fee

[TravelMug]

Many can relate to your frustration, especially in situations like this. It's disheartening to spend a hefty fee, especially for small gamblers like myself. Just a while ago, I tried transferring from my trust wallet and attempted to change the network fee, but I encountered an error: "Transaction error. Unable to transfer due to dust UTXO error." Now, I can't transfer funds or play. I guess I'll have to wait for things to settle down, so for now, I'm monitoring the network in case the fee decreases.

Yes, we all know the frustrations and seeing the fees going up, earlier it really went down to like 50 sat/vB, although this is still very high for us, but at the current price still very low. But the again, it shoots up to currently, guess what, 386 sat/vB. And with that, it's not logical to used that fee to get faster confirmation as some of us could have won smaller than the fees that we have. So the only thing is to really wait again and timing the mempool to clear at least or just used stable coins if you can or any other altcoins as most online gambling platforms as well supported different coins now.

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[avp2306]

Now the gambling site was in the trouble because of the high transaction fee by the exchanges like the Binance.It was unacceptable one for the gambler to pay 26 dollars to withdraw funds from the Binance.Being a gambler,my opinion is to hold till the money in the exchange itself.Surely we get the profit from the gambling site,if we follow some techniques in the gambling site.But my point is why we need to pay the exchange fee of 26 dollars for the single transaction.

My decision may be seems revolutionary one,but the fact is the same transaction fee will be reduced when the market back to the bear standard.The bull run give huge dollars to the trader who hold from the 31k market price of the bitcoin.I had some arguments with my friends with whom we meet on every weekend.They also had the opinion of hold their money in the exchange till the market fee back to the normal one.So what your standard for the current transaction fee of bitcoin.

You have three options regarding with that and that is to deal with it since you can't do anything as you still want to continue to gamble using bitcoin since you believe that if you can earn the more money you get since you are also speculating about the bull run. Other option is to exchange it with USDT since most of gambling site have USDT option to choose then you can gamble without worrying any huge fee also you are prone for dumping since you are dealing with stable coin so nothing happens with your deposited funds there. Last option to take is to stop gambling for a while and hodl your funds since its really a waste of many paying extra fees that's why its good to decide to quit and just come back when everything is settled and fees get back to normal.

[danherbias07]

Do remember, this is not new, it always happens whenever there's a Bitcoin price surge.  We are just impatient with the changes that will happen.
Soon, all exchange and gambling sites will adapt to the Bitcoin price and they will change the fees. There's just heavy traffic now and it's better if we don't add to that. Make one transaction that would take advantage of that single transaction fee. Although it's high, if we are not doing it every week or every day then I think it's still a win for us.
Another option is using other coins for gambling purposes. Exchange it first with a platform that has the cheapest trading fees out there.
Or, the best and wisest decision would be to take a rest. It's just gambling, it will never go away, and it will always be there to wait for us to go back and gamble again.
When Bitcoin hits ETF, it will probably calm down for a long time and we will see big changes in tx fees.

[EarnOnVictor]

Now the gambling site was in the trouble because of the high transaction fee by the exchanges like the Binance.It was unacceptable one for the gambler to pay 26 dollars to withdraw funds from the Binance.Being a gambler,my opinion is to hold till the money in the exchange itself.Surely we get the profit from the gambling site,if we follow some techniques in the gambling site.But my point is why we need to pay the exchange fee of 26 dollars for the single transaction.

My decision may be seems revolutionary one,but the fact is the same transaction fee will be reduced when the market back to the bear standard.The bull run give huge dollars to the trader who hold from the 31k market price of the bitcoin.I had some arguments with my friends with whom we meet on every weekend.They also had the opinion of hold their money in the exchange till the market fee back to the normal one.So what your standard for the current transaction fee of bitcoin.

Bro, I must say I didn't get you correctly. Is it that your account is not independent of Binance or what? Binance is an exchange and of course, not the only way to fund your betting account, you can use other options and will be just fine. The transfer fee of Binance is way too high, it's killing and it could be simply termed extortion as they are in the business, they know how the Mempool work, they can adjust the fee accordingly if they want, and they are also fully invoved in the mining of the block, only that they do not care but make big money. That aside, you can deposit into other non-custodial wallets and get to be making your betting in peace. And if you must use Binance, there is still nothing wrong with that, you only have to be smart with it.

It's not a must you use Bitcoin at this time, you can convert your Bitcoin into another coin/token allowed by your gambling site and you are good to go. By this, you would have settled the issue of the fee instead of depriving yourself of the joy of gambling and also keeping your money to be wasted with Binance.

[piebeyb]

I think everyone already knows that when the price of bitcoin increases, it will create a pile of more and more transactions so that in the end the blockchain network is busy getting confirmation and transactions are put into blocks, at least using transaction fees which are not cheap, this also happens to Ethereum, not just bitcoin. I'm sure you saw that Ethereum transactions are also increasing.

I know it's very annoying when you have to pay expensive transaction fees for just one transaction, even though we can pay it cheaply when the network is really not busy, but know that at the moment the blockchain network is really very busy so just use another alternative, for example, like a blockchain network. others that use much cheaper transaction fees, after all gambling doesn't just use bitcoin, there are many other alternatives available at the casino, just try it while waiting for bitcoin transactions to get cheap again.

[Ever-young]

Now the gambling site was in the trouble because of the high transaction fee by the exchanges like the Binance.It was unacceptable one for the gambler to pay 26 dollars to withdraw funds from the Binance.Being a gambler,my opinion is to hold till the money in the exchange itself.Surely we get the profit from the gambling site,if we follow some techniques in the gambling site.But my point is why we need to pay the exchange fee of 26 dollars for the single transaction.

Binance is charging fee on bitcoin transaction excessively. They are really using it to make money for their own pockets.

The high fee isn't Binamve's fault, you make it look like it's only Binance that's charging charging high transaction fees. If it were only Binance that's charging high transaction fees, then users would just simply switch to other exchanges which would then be charging normal amounts for fee. The fee issue is generally everywhere on the bitcoin network not just the Binance exchange.

And then again, Binance aren'tt the ones directly benefiting from this high transaction issue, Binance is just going about their normal daily businesses. The ones who are really benefiting from this high transaction fees are the Miners, because transaction fees are the miners' incentives, so whether transaction fees are high or low, they are the ones benefiting from it and not Binance. Be guided.

[kenshi222]

Well, I think the best thing to do here is to wait and hodl if you had no other choice like Altcoins that offers cheaper transaction fees. For me, Doge, XRP and Shiba Inu has direct support from our local e-wallets though I am not sure if these coins are supported by the gambling site because most of the time they only accept Bitcoin.

It’s true,we need to wait for the current situation.But the problem here was the gambler will suffer to play their game in the gambling.If the gambler was the gambling addicted person,then you need to think about it.They will ready to pay the fee for each transaction in the exchanges.In the gambler had won the money along with the fee means it will be the better one,if he had failed again with the transaction fee.This was important one here and we need to wait at the end.

I think everyone already knows that when the price of bitcoin increases, it will create a pile of more and more transactions so that in the end the blockchain network is busy getting confirmation and transactions are put into blocks, at least using transaction fees which are not cheap, this also happens to Ethereum, not just bitcoin. I'm sure you saw that Ethereum transactions are also increasing.

I know it's very annoying when you have to pay expensive transaction fees for just one transaction, even though we can pay it cheaply when the network is really not busy, but know that at the moment the blockchain network is really very busy so just use another alternative, for example, like a blockchain network. others that use much cheaper transaction fees, after all gambling doesn't just use bitcoin, there are many other alternatives available at the casino, just try it while waiting for bitcoin transactions to get cheap again.

This is not the new phenomenon in the cryptocurrency,but if we come to the gambling it will be the hardest part now.If we find the other exchange which will help our current situation will be the better option.But with my investigation I had not found any exchange with less fee.Many of us using the binance for the trusted position,but they trying to earn money at the hardest time like gambling deposit.The gamblers should now on hold their money in the gambling site will be the best option we have now.

[Sunderland]

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This is not the new phenomenon in the cryptocurrency,but if we come to the gambling it will be the hardest part now.If we find the other exchange which will help our current situation will be the better option.But with my investigation I had not found any exchange with less fee.Many of us using the binance for the trusted position,but they trying to earn money at the hardest time like gambling deposit.The gamblers should now on hold their money in the gambling site will be the best option we have now.

Lets make it simple, why dont you swap it to other coins such as TRX, USDT (TRC20, BEP20), XRP, LTC, Doge, Solana or even BCH then use it to deposit on any casino.
Different story if you keep the BTC on your personal wallet, not Binance.

Holding the money on the casino is not wise either, especially when you are a degenerate gambler. In the end you might lose all the money before the fees back to normal.

[Findingnemo]

Now the gambling site was in the trouble because of the high transaction fee by the exchanges like the Binance.It was unacceptable one for the gambler to pay 26 dollars to withdraw funds from the Binance.Being a gambler,my opinion is to hold till the money in the exchange itself.Surely we get the profit from the gambling site,if we follow some techniques in the gambling site.But my point is why we need to pay the exchange fee of 26 dollars for the single transaction.

Isn't that normal fee on an exchange for Bitcoin withdrawal? Usually it was about $20 if I am not wrong but with the recent surge in BTC price the fee looks higher or they using dynamic fee structure now?

But what is the connection between exchange withdrawal and gambling site suffers due to high transaction fee?

If I am not wrong most users don't send funds directly from exchange to gambling sites or vice versa because its not smart to not to have hold on atleast one end with our funds.

[Weawant]

Except the money is is needed urgently to take care of an urgent need on ground, it's advised you allow the money stay in your wallet, because the charges are currently room high and in some cases you may spend almost half of your funds trying to place a withdrawal on the same fund buy then I'd you leave the money for this period you can het it latwr when the charges are down.

Most gambling sites have the challenge of this transaction fee as it's beyond their powers, especially with funding , which lies within the exchange to regulate the charges on every transactions. Buy if you already have some crypto in your gambling wallet, you could choose to further Gamble with it so it increases by your wins and that way you get enough to pay for your transaction fee. Buy then you can still leave your coins there although thats a very risky idea because gambling wallet could be hacked.

[dothebeats]

You do not understand the network dynamics, it appears. Binance is not the ones who impose these fees, the bitcoin network does with its current network conditions. Binance, or any other exchange for that matter, do not have any control with the fees that the network currently dictates. They simply follow these in order to make sure that your transaction gets confirmed and not get dropped, or worse, stuck in a limbo for weeks on end.

My advice: if you really want to gamble so bad, better exchange your coins to another that is accepted on your platform of choice (XRP, Litecoin, etc). This way, you'll get the most value out of your coins and not yap about the current network fee.

[wallet4bitcoin]

Now the gambling site was in the trouble because of the high transaction fee by the exchanges like the Binance.It was unacceptable one for the gambler to pay 26 dollars to withdraw funds from the Binance.Being a gambler,my opinion is to hold till the money in the exchange itself.Surely we get the profit from the gambling site,if we follow some techniques in the gambling site.But my point is why we need to pay the exchange fee of 26 dollars for the single transaction.

My decision may be seems revolutionary one,but the fact is the same transaction fee will be reduced when the market back to the bear standard.The bull run give huge dollars to the trader who hold from the 31k market price of the bitcoin.I had some arguments with my friends with whom we meet on every weekend.They also had the opinion of hold their money in the exchange till the market fee back to the normal one.So what your standard for the current transaction fee of bitcoin.

If I understand you correctly, you had issues withdrawing your funds from binance because of the outrageous cost of withdrawal fee.

If the above is correct, then it has nothing to do with the gambling site, its a personal issue between you and binance and binance also is considering the high cost of fee on the blockchain so as not to keep your transaction pending.

Lately, the cost of fees on the bitcoin blockchain has skyrocketed and it has remained a cause for concern.

[rhomelmabini]

Now the gambling site was in the trouble because of the high transaction fee by the exchanges like the Binance.It was unacceptable one for the gambler to pay 26 dollars to withdraw funds from the Binance.Being a gambler,my opinion is to hold till the money in the exchange itself.Surely we get the profit from the gambling site,if we follow some techniques in the gambling site.But my point is why we need to pay the exchange fee of 26 dollars for the single transaction.

My decision may be seems revolutionary one,but the fact is the same transaction fee will be reduced when the market back to the bear standard.The bull run give huge dollars to the trader who hold from the 31k market price of the bitcoin.I had some arguments with my friends with whom we meet on every weekend.They also had the opinion of hold their money in the exchange till the market fee back to the normal one.So what your standard for the current transaction fee of bitcoin.

No, don't hold it on an exchange especially if it's huge, you can use non-custodial wallet or best a hardware wallet. Binance itself or the casino wasn't at fault in the first place if there's a price hike on transaction fees, they're just literally follow the market structure of fees. My advice is that if you will just put it on an exchange and can't gamble the money yet then I suggest trade that instead.

[summonerrk]

Today's fees on the Bitcoin network are huge and inconvenient. It’s good that I made a deposit on the gambling platform before November, and the commissions were tolerable. But yesterday I transferred Bitcoins from Trust Wallet and you can see the commissions on the chart, I gritted my teeth and thought that my $60 commission was a lot. But today the Commission has increased by 270%! So it was not do bad.
And the trouble is that you cannot choose another cryptocurrency.
Yes, I can reduce the amount of satoshi per transfer, but there is a risk of sadly looking at the frozen transaction for another 5 days. This is a true story.

As far as I know, the damn Ordinals are to blame again.

[Slow death]

I don't know what the situation is like with bitcoin transaction fees in other casinos, but as I use stake.com I will only talk about the stake, at the moment in stake for withdrawals they subtract $3 for the transaction fee, this means that the person pays a Very low transaction fee value, so playing at stake using bitcoin even at a time like this when the price of bitcoin has risen a lot has a lot of advantage because the person will not pay a high fee. but I think using altcoins with low transaction fees are the best choice. imagine paying a 9$ fee when using bitcoin while you can use an altcoin that has less than a 1$ fee, it's simply an easy choice for the person to make, in my case I use litecoin

I see Litecoin being very advantageous for gambling, although in this bull market for Bitcoin, the price of Litecoin has fallen and it has become very complicated to use Litecoin to gamble, which is why using another alternative like USDT is the best solution at the moment. , if a person deposits 10 USDT and continues playing, the value remains the same, unless the person playing loses a lot, perhaps stablecoins are the most appropriate to be used in casino. Now talking a little about withdrawal fees from Binance, honestly I haven't been withdrawing Bitcoin from Binance these days, but I know they didn't know when the price of Bitcoin rose a lot that it became very expensive to make withdrawals from Binance, this is because they had a high withdrawal fee. withdrawal in bitcoin and regardless of the price dropping, they didn't lower their fee

[coupable]

I think everyone already knows that when the price of bitcoin increases, it will create a pile of more and more transactions so that in the end the blockchain network is busy getting confirmation and transactions are put into blocks, at least using transaction fees which are not cheap, this also happens to Ethereum, not just bitcoin. I'm sure you saw that Ethereum transactions are also increasing.

There are always alternative options that can be relied upon in such periods of crisis. There are many networks that are faster and have lower fees that can be used for both deposits and withdrawals as well.
Personally, I have always avoided making deposits and withdrawals using Bitcoin or Ethereum, even during periods when the network condition is normal. On this same basis, I always advise choosing platforms that offer multiple options of cryptocurrencies on different networks so that the choice is easy. Since everyone uses their wallets on trading platforms (Binance is the most prominent example), withdrawals from Binance to be transferred directly to the gambling platform will not be expensive in fees or time. Recently, I have been making deposits using the Tron network and withdrawing using one of the stablecoins USDT.

(Of course, this is the worst thing that can be done, or perhaps the most dangerous, is to transfer directly from a trading platform to a casino, but it cannot be hidden that the majority do this and only a minority of users are aware of the danger of this.)

[Orpichukwu]

I don't know if the Binance fee has increased to as high as $26. The last time I tried withdrawing BTC from Binance, the fee rate was still in the range of $8-10, which was, what I considered, very high at that time.
 
As the fee is very high, saving and leaving our crypto on exchanges is not advisable, if not for the purpose of buying and selling for those who don't know how to use CEX. What's the need for holding Bitcoin on exchanges? If the purpose of the coin was to be withdrawn to a casino wallet,
 
I will advise gamblers to use other networks with a cheaper fee rate, like LTC and other available ones, as supported by the casino, as that is far better than leaving crypto in an exchange-account.

[letteredhub]

Now the gambling site was in the trouble because of the high transaction fee by the exchanges like the Binance.It was unacceptable one for the gambler to pay 26 dollars to withdraw funds from the Binance.Being a gambler,my opinion is to hold till the money in the exchange itself.Surely we get the profit from the gambling site,if we follow some techniques in the gambling site.But my point is why we need to pay the exchange fee of 26 dollars for the single transaction.

Binance is charging fee on bitcoin transaction excessively. They are really using it to make money for their own pockets.

The high fee isn't Binamve's fault, you make it look like it's only Binance that's charging charging high transaction fees. If it were only Binance that's charging high transaction fees, then users would just simply switch to other exchanges which would then be charging normal amounts for fee. The fee issue is generally everywhere on the bitcoin network not just the Binance exchange.

And then again, Binance aren'tt the ones directly benefiting from this high transaction issue, Binance is just going about their normal daily businesses. The ones who are really benefiting from this high transaction fees are the Miners, because transaction fees are the miners' incentives, so whether transaction fees are high or low, they are the ones benefiting from it and not Binance. Be guided.

In the issue of transaction fee I don't throw blame on any exchanger at all as the issue is equally out of their absolute control and just as @ever-young said they have very less or (nothing) to benefit from those fees it's actually the miners that are the benefactor of every transaction fee charged, and I have this feeling within that the fees binance have set for their users depending on the amount you are to transfer is for users to get their transaction quickly completed going by the congestion in the bitcoin network.  I use electrum and I also experiencing the high transfer fees unlike what I use to spend for transaction of a $500 now I have to spend double of that transfer fee if i am in a hurry to get my transaction completed in time.

[LUCKMCFLY]

I think we are all clear about the need for our funds to be kept in our private wallets, since it is something that by pure intuition should be in our hands and not in the hands of a casino, or in the hands of an exchange that is oq I see it as even more dangerous, for these reasons we must always focus on seeing if it is worth paying a transfer fee so that better options can be generated to have it in our hands, we are people who are very Customary , sometimes I trust a lot in the exchanges to leave money, but lately according to everything we have been through, it is better to have it in our possession, since if they are in our favorite casinos, or in our very coifrbal exchange, the new money is ours, it is the where it is, and that is something that people still do not see clearly, but I see that the other things that have to do with making more management about the possibility of the money being in our hands is better.

Many cases that have been presented here in the forum and outside the forum, from exchanges, from sites that store our money, because we had an account in a casino or in an exchange, well they have done things that are not pleasant at all, yes, they go away , so it's a government, or so many things that can happen because the regulations of the places are there, but we have to see when things are better, and one of those is when we obviously act in a good way so that our money is Sure, you should no longer leave money in a casino or in an exchange, in fact I think I have more confidence in a casino like stake.com or bitcasino.io that are casino trust for me, they prefer to have my money there than leave it in an exchange, for For example, Binance is one of the exchanges that everyone trusts the most in general, but I actually don't , I don't like their policies of kneeling before Governments and police officers in the world.

[wxa7115]

Now the gambling site was in the trouble because of the high transaction fee by the exchanges like the Binance.It was unacceptable one for the gambler to pay 26 dollars to withdraw funds from the Binance.Being a gambler,my opinion is to hold till the money in the exchange itself.Surely we get the profit from the gambling site,if we follow some techniques in the gambling site.But my point is why we need to pay the exchange fee of 26 dollars for the single transaction.

My decision may be seems revolutionary one,but the fact is the same transaction fee will be reduced when the market back to the bear standard.The bull run give huge dollars to the trader who hold from the 31k market price of the bitcoin.I had some arguments with my friends with whom we meet on every weekend.They also had the opinion of hold their money in the exchange till the market fee back to the normal one.So what your standard for the current transaction fee of bitcoin.

Due to the high fees, gamblers will have to change their usual behavior or simply accept to pay a lot of money just to withdraw their coins.

However there are many ways to avoid this, you could use the LN, you could keep your coins at the casino or the exchange for a longer period of time or you could exchange your bitcoin for an altcoin and then ask for a withdrawal, neither of those options is perfect but if your main motivation is to save money then those three methods are good enough if you ask me.