Gambling with stablecoins, Fiat, or crypto?

[Richbased]

Since I gamble in crypto enabled platforms, even if they have the option of fiat deposit, I do not give it a thought because I prefer crypto given the ease and peace of mind it offers. I do not feel comfortable entering my card details into different online platforms. Furthermore, gambling platforms have different different crypto deposit options of which I chose that which have less fees and faster confirmation time.

Exactly, even though I gamble occasionally but whenever I want to gamble I prefer using crypto. I used to gamble with Fiat before I had knowledge about crypto gambling and as at those times when I used gambling sites that accepts Fiat I normally enters my bank ATM card details and they will send OTP to my phone for confirmation but am always afraid because of how vulnerable and malicious some gambling sites can be and moreover always using your card details on those sites exposes one's personal information and again during withdrawal you will still need to input your personal banking details and all these steps are against privacy but in crypto gambling your personal information are not exposed since you can fund your account using the funds you have in your crypto wallet so it is more easier, safer and more convenient than using Fiat to fund one's account online.

Having different crypto options is also another feature that makes the crypto gambling very unique instead of Fiat that you can only deposit one currency and if your bank doesn't have network it becomes so difficult to transfer funds to your gambling account but in crypto gambling inasmuch as you have internet connectivity every transaction is being moved immediately although sometimes it also depends on the type of crypto you use to fund your account that will determine the speed the transactions will take to be confirmed and it gets funded. Sometimes I also makes use of stablecoins like the USDT to make deposits as it is also faster most times.

[yahoo62278]

The title says it all. Which currency do you prefer to use when betting? Is it stablecoins, good-old Fiat, or traditional cryptocurrencies such as Bitcoin or Ethereum?

Personally, I like to gamble with crypto not only because it's "KYC-free", but also because it represents freedom. The only downside is market volatility. Stablecoins always have their value pegged to Fiat (usually the USD), but they're too centralized and often lack investor protections or guarantees of any  kind. And then there's the choice of Fiat, but most (if not all) casinos or gambling sites require you to reveal your personal ID (KYC) to use them. In some countries it's even illegal to gamble online. So crypto for me, is the true winner here.

How about you?

I don't know where you're gambling but "crypto' is not KYC free nor is it freedom any longer. Almost every reputable crypto site out there requires kyc at some point, if not it's likely you're playing at a non licensed casino and putting your money at risk.

[GeorgeJohn]

The title says it all. Which currency do you prefer to use when betting? Is it stablecoins, good-old Fiat, or traditional cryptocurrencies such as Bitcoin or Ethereum?

Personally, I like to gamble with crypto not only because it's "KYC-free", but also because it represents freedom. The only downside is market volatility. Stablecoins always have their value pegged to Fiat (usually the USD), but they're too centralized and often lack investor protections or guarantees of any  kind. And then there's the choice of Fiat, but most (if not all) casinos or gambling sites require you to reveal your personal ID (KYC) to use them. In some countries it's even illegal to gamble online. So crypto for me, is the true winner here.

How about you?

the thing is that many people have choice of using any kind of currency they wishes to use and for betting, but you will use the currency that will be easier for you to fund your account, theirs some certain thing's that we needed to understand in gambling platform for sure, if you have done your KYC verification you will not have any problem in betting and also look for possible ways of funding your account without any delay, majority of us do make a mistake by using method we don't know to funds our account but I do let you know that the best way is to use fiat if you are not familiar to use cryptocurrency

[Coyster]

The title says it all. Which currency do you prefer to use when betting? Is it stablecoins, good-old Fiat, or traditional cryptocurrencies such as Bitcoin or Ethereum?

I don't really have a preference, it really depends on where i am gambling, if i am gambling in physical game houses in my country, then it is obviously fiat i use. On the other hand, if i am gambling in a crypto casino, i use bitcoin to gamble, but in great crypto casinos like Spinarium that allows me deposit funds in my country's fiat currency, i gamble with fiat.

[Yatsan]

I prefer stables but not fiat.  Well, crypto are good but I often get conscious of the possible profit and loss caused by the nature of market price volatility. The guilt I often feel whenever the market is in green quites adds up to the loss. So at least, with stable coins, profit and loss would be as is and in such way it would be easier to accept. However, this is just on my gambling set up and if you're with higher gambling betting behavior, wpuld suggest using cryptocurrencies because in such way you won't worry about taxes.

The title says it all. Which currency do you prefer to use when betting? Is it stablecoins, good-old Fiat, or traditional cryptocurrencies such as Bitcoin or Ethereum?

I don't really have a preference, it really depends on where i am gambling, if i am gambling in physical game houses in my country, then it is obviously fiat i use. On the other hand, if i am gambling in a crypto casino, i use bitcoin to gamble, but in great crypto casinos like Spinarium that allows me deposit funds in my country's fiat currency, i gamble with fiat.

I also have this one that I depend as well when choosing a platform. If I have a preference mode of payment and happened that the recommended website isn't accepting it, then I'd move to other platforms. The reason why there are many gambling sites or providers, is for us to to move in accordance with or preference and where we would be comfortable betting on.

[Abiky]

I always use Cryptocurrency and I prefer Bitcoin but if the fee is high and there's congestion, Trx, and Doge are my choice of altcoins to play, lately I've played on web3 casinos and I find it very convenient its fast and transaction is very low I prefer to use Solana if there is an option to pick your preferred chain.

The most important here whatever you're using is the trustworthiness of the casino you're playing, when playing with web3 pick the one that is audited by Certik or any other reputable auditor of smart contracts.

Yeah. It's frustrating to pay high fees with crypto when there's network congestion. Luckily, most crypto gambling sites let you choose among a wide number of coins to place your bets. The one under my signature accepts Solana, making gambling quite a breeze. Assuming network fees stay low forever, of course.

Web3 gambling (decentralized) is the future, but it still has a lot to catch up on. Especially in terms of UX and bankroll. I haven't heard of crypto gambling sites accepting deposits from L2 networks yet (Lightning Network, Arbitrum, Optimism, etc). At least, it's better something than nothing.

[alegotardo]

The title says it all. Which currency do you prefer to use when betting? Is it stablecoins, good-old Fiat, or traditional cryptocurrencies such as Bitcoin or Ethereum?

Personally, I like to gamble with crypto not only because it's "KYC-free", but also because it represents freedom. The only downside is market volatility. Stablecoins always have their value pegged to Fiat (usually the USD), but they're too centralized and often lack investor protections or guarantees of any  kind. And then there's the choice of Fiat, but most (if not all) casinos or gambling sites require you to reveal your personal ID (KYC) to use them. In some countries it's even illegal to gamble online. So crypto for me, is the true winner here.

How about you?

Crypto, always, and for several reasons...

Fast transactions: Deposits and withdrawals are processed almost instantly, unlike traditional banking methods that can take hours or even days. Obviously, you need to choose blockchains that are most favorable for this, and unfortunately Bitcoin is not one of them.

Lower fees: Cryptocurrency transactions generally have lower fees compared to other payment methods, which allows me to save more money, especially on withdrawals.

Anonymity and privacy: Using cryptocurrencies, I can maintain my anonymity in casinos that do not require KYC, as transactions are not linked to a bank account or credit card.

Global access: Only with cryptos can I play in casinos where I might have banking restrictions or strict gambling regulations that are not allowed in my country.

Lastly... Lower deposit and withdrawal limits with some cryptos compared to fiat.

[Rampagoe004]

Since I gamble in crypto enabled platforms, even if they have the option of fiat deposit, I do not give it a thought because I prefer crypto given the ease and peace of mind it offers. I do not feel comfortable entering my card details into different online platforms. Furthermore, gambling platforms have different different crypto deposit options of which I chose that which have less fees and faster confirmation time. However, despite the deposit options, I prefer seeing my balance in dollars to be able to properly manage my gambling in terms of amount to gamble with per round and also my target to win.

I agree with you. For someone who needs privacy I think crypto or stable coins are the best ops for now. I myself also don't like entering my personal data into any gambling site because I am worried about the security of my data even though the site provides a guarantee of data security. Making withdrawals and deposits with fiat will also make your transactions recorded at the bank and that makes me uncomfortable because I think there will be one or several people who will see my transactions from the bank. I know it seems unlikely to happen but for someone who is very concerned about privacy like me this could be my consideration when choosing crypto when making withdrawals or deposits.

[ralle14]

I always prefer to gamble with crypto, but recently i'm leaning on the side of stablecoins to avoid the price swing and the costly fees from certain coins. I think it all started when I got to play with a few gambling sites that quickly convert your crypto into fiat, then it slowly grew on me until I adjusted my units by fiat. That doesn't mean i'd eventually prefer gambling with fiat, I only like the convenience of having a fiat balance while gambling so I don't have to use a calculator.

[retreat]

I prefer to deposit or withdraw using crypto, the reason is because the platform I use supports it and the processing is also faster using it. Moreover, when using a credit card, there are security risks that make me a little hesitant to use it for online payments and I'm also worried that I'm overusing it and going beyond my limits. So using crypto is more comfortable and more controlled for me personally.

[maydna]

For someone who needs privacy I think crypto or stable coins are the best ops for now. I myself also don't like entering my personal data into any gambling site because I am worried about the security of my data even though the site provides a guarantee of data security. Making withdrawals and deposits with fiat will also make your transactions recorded at the bank and that makes me uncomfortable because I think there will be one or several people who will see my transactions from the bank. I know it seems unlikely to happen but for someone who is very concerned about privacy like me this could be my consideration when choosing crypto when making withdrawals or deposits.

Crypto can gives privacy to them but we should follow the rules from the casino if casino require to verify our account. Many of us doesn't like to verify our account in casino or other sites but we can not deny that things as the governments wants to know more about the customer. The government can asks casino to apply verification in their sites to push their customer to do KYC.

That is why we must be careful when playing gambling and not use too much money because that can makes us to do KYC especially when we wants to withdraw our money. We can feels safety when using crypto to gambling because we can send the coins from our private wallets and not from the exchanges so we can hide ourselves from the tracking.

[Dr.Bitcoin_Strange]

The most preferable casino I use so often is a local casino in my country, where the preferred deposit and withdrawal methods I love using are fiat. But for other reputable casinos on this forum, which I have used, I have made deposits in fiat (USDT) too. Apart from the local casino I mostly use, I don't have a preference for the money type I love gambling with; I normally use anything that is readily available at that moment. If I have Bitcoin, Dogecoin, ETH, or other coins with me that I want to spend on gambling, I will make a deposit. I use what is available. 

[|MINER|]

In my case, it will be the crypto currently because we don't need to use extra unnecessary data submissions for Bank or going for physical casino with the cash money was also risky so I took the easiest way to access the gambling and as well as also funding was very easy on cryptocurrency.

[redsun114]

When you say crypto, you also include stable coins in them because they are actually cryptocurrencies with their values pegged to real-world assets or currencies. I don't agree with your reasoning for not using stablecoins, even if they are centralized, you are not holding them forever but you will gamble with them and then you can convert them to any cryptocurrency you want.

For me, it's easier when you use stablecoins because you won't be confused about how much you have deposited, or how much you have lost or won if you are in a habit of checking the dollar value of your assets. If you are using stablecoins, you won't need to be confused because you will be able to see the dollar equivalent of your balance without having to do any calculations, etc.

[Saint-loup]

For gambling at crypto casinos I mostly use Tether and BTC but sometimes I use Doge too. But I prefer betting with fiat or stable coins to be honest because when the price of the cryptocurrency you are using increases, your losses increase too when you make the conversion into their fiat value. That is to say if you've lost $1000 when the cryptocurrency was at its previous price, and its price on markets takes +150% in few months, your $1000 loss become a $2500 loss, and it's psychologicaly not the same thing, especially if you need this money now. In addition your balance displayed in fiat currency changes everyday when you use cryptos, making hard to monitor your actual profits and losses.

[Abiky]

Crypto, always, and for several reasons...

Fast transactions: Deposits and withdrawals are processed almost instantly, unlike traditional banking methods that can take hours or even days. Obviously, you need to choose blockchains that are most favorable for this, and unfortunately Bitcoin is not one of them.

Lower fees: Cryptocurrency transactions generally have lower fees compared to other payment methods, which allows me to save more money, especially on withdrawals.

Anonymity and privacy: Using cryptocurrencies, I can maintain my anonymity in casinos that do not require KYC, as transactions are not linked to a bank account or credit card.

Global access: Only with cryptos can I play in casinos where I might have banking restrictions or strict gambling regulations that are not allowed in my country.

Lastly... Lower deposit and withdrawal limits with some cryptos compared to fiat.

Privacy and anonymity are crypto's biggest selling point when it comes to gambling online. Especially with privacy coins such as Monero and Grin. I've seen a handful of crypto gambling sites accepting XMR deposits. It's hard to find non-KYC gambling sites these days. We can blame tightening regulations for this.

For some, gambling with stablecoins brings the "best of both worlds". You'd get the security and cost-effectiveness of Blockchain tech, and the stability of Fiat currencies (particularly the USD). But crypto is still a winner in my book. Who knows what the future of the gambling industry will be?

[$crypto$]

Tether and BTC mostly but sometimes I use Doge too. But I prefer betting with stable coins TBH because when the price increases small losses

If I use Tether only to avoid price fluctuations which currently continue to fall so only to maintain the stability of the assets owned so as not to go down, but I also prefer TRX whose prices also tend to be more stable, most importantly low costs.

There are already many alternative altcoins to deposit in the casino just choose which one you like.

[traderethereum]

Tether and BTC mostly but sometimes I use Doge too. But I prefer betting with stable coins TBH because when the price increases small losses

If I use Tether only to avoid price fluctuations which currently continue to fall so only to maintain the stability of the assets owned so as not to go down, but I also prefer TRX whose prices also tend to be more stable, most importantly low costs.

There are already many alternative altcoins to deposit in the casino just choose which one you like.

Using Tether to avoid price fluctuation is a good option as we don't have to worry with the volatility that happens in the market. The only things that we should worry is how to prevents the lose not to becomes bigger.
I used Doge to playing gambling in the past because Doge price at that time was not too high as now. I also tried to use TRX to gambling and both Doge and TRX which have a low cost of transaction.
Using Bitcoin to gambling is just when the Bitcoin price is at a high price so that can gives us more money to gamble. But we must still control ourselves to avoids a big lose.

[danherbias07]

I always prefer to gamble with crypto, but recently i'm leaning on the side of stablecoins to avoid the price swing and the costly fees from certain coins. I think it all started when I got to play with a few gambling sites that quickly convert your crypto into fiat, then it slowly grew on me until I adjusted my units by fiat. That doesn't mean i'd eventually prefer gambling with fiat, I only like the convenience of having a fiat balance while gambling so I don't have to use a calculator.

I always have this kind of sickness when using cryptocurrencies, using a calculator to check how much I won or lost. Yeah, it's a hassle and I would probably just stick with stablecoins too so that it's always in 1:1 dollars. That way I won't need to check every time I win something.

I think the other good part of using stablecoins is you can use a very low amount when you bet in casino games, those games that have a very low minimum amount required to start gambling unlike using USD itself which the lowest bet being $0.01. Gamblers who are just playing around or wagering will not like that.

[Don Pedro Dinero]

Well, it depends. When I go to the physical casino obviously with fiat. I don't know if there are physical casinos that let you pay with cryptocurrencies for chips, but not where I live. For online casinos cryptocurrency casinos are better for privacy, although this was the case before and is changing for the worse, with so much kyc in the ToS, but it depends, as I also have an account in fiat casinos from time to time I bet. For cryptocurrency casinos I prefer to bet with bitcoin, although I have also used stablecoins from time to time.