Gambling with stablecoins, Fiat, or crypto?

[Maslate]

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.

There are also online casinos that accept fiat, but it's true that you can't gamble with crypto when you go to a physical casino. However, I think the topic here is about online gambling. In my case, I do like a 40-60 split, with 60% for gambling using crypto, as most of my online income is in crypto, so it would be easier to gamble using the same. In terms of privacy, yes, you can really enjoy it with crypto as long as your account is not yet KYC-compliant. So it's a case-by-case basis. I also have my favorite local bookie where I gamble through fiat, but done online using our popular payment system.

[Salahmu]

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.

Yeah likewise me I don't have a problem using any method but however I normally prefer using fiat because of the stability, and one thing we should also understand about using crypto for the gambling is that crypto price is not stable and there is a likelihood that the crypto price could possibly depreciate in value while gambling, for instance a gamblers funded his gambling account using a certain crypto he bought during the time the market was still high and if perhaps he decides to withdraw the amount he deposited you will see that the exact amount he deposited will seriously depreciate in value because already the general crypto is down in price, which is why I normally go for fiat because no matter anything the price remains the same.

[noormcs5]

There are also online casinos that accept fiat, but it's true that you can't gamble with crypto when you go to a physical casino. However, I think the topic here is about online gambling. In my case, I do like a 40-60 split, with 60% for gambling using crypto, as most of my online income is in crypto, so it would be easier to gamble using the same. In terms of privacy, yes, you can really enjoy it with crypto as long as your account is not yet KYC-compliant. So it's a case-by-case basis. I also have my favorite local bookie where I gamble through fiat, but done online using our popular payment system.

Ever since i know about the crypto and online gambling platform started to introduce crypto as a payment, i will prefer crypto payments over the fiat ones. Not only crypto payments are fast but at the same time they are secure too. When you pay online with credit card etc, you have the chances that your card details can be misused by the authorities (scam casinos etc) but there is no such issue when you gamble with crypto.

I do not say that whole world is shifted to crypto payments as there are still many casino that only accepts fiat money and there are many gamblers too who do not have knowledge about crypto but those who once uses crypto, they will defiantly stick to it.

[bangjoe]

I prefer to gamble by using crypto assets to do gambling, because I am quite difficult to access fiat, and yes most of my money is rotated in the cryptocurrency world making it easier for me to use cypto currency as a tool for gambling.

In addition, anonymity is the best choice in gambling, yes even though I did KYC several times at different casinos but they don't need to know who made a deposit, so I prefer to gamble using cryptocurrency.

Simply because it is much easier for me.

[Ultegra134]

To those mentioning that they prefer using cryptocurrencies for KYC purposes probably haven't used a casino, they're bluffing or are using non-licensed casinos. Personally, I'm against using Bitcoin due to transaction fees and higher confirmation times, but more importantly, because I consider it an investment asset and not something to be wasted on gambling.

I mostly use stable coins, mainly for convenience reasons and because their value always remains the same.

[Maslate]

To those mentioning that they prefer using cryptocurrencies for KYC purposes probably haven't used a casino, they're bluffing or are using non-licensed casinos. Personally, I'm against using Bitcoin due to transaction fees and higher confirmation times, but more importantly, because I consider it an investment asset and not something to be wasted on gambling.

Actually, we can still enjoy using a casino even without KYC. I've used a lot of licensed casinos, and I can still gamble without submitting KYC documents. I think there's an amount trigger on their end, and that's probably the time they'll require you to comply with the KYC. But as of now, I've been using it for years, and I'm still enjoying it without KYC. So, we can't generalize that because a crypto casino is already regulated, we have no choice but to comply before we can gamble. In reality, it does not happen to me.

I mostly use stable coins, mainly for convenience reasons and because their value always remains the same.

If you are gambling and wants to see your progress clearly, use a stable coin where its value is the same so the risk is only on gambling and your future will be determine based on your wins and losses, not including the volatility of the price.

[Woodie]

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?

To be honest anything with faster confirmation times and low transaction fees does it for me, the likes of polygon, Tron , Binance coin etcetera do serve me well unlike Bitcoin that can keep you waiting in line for transaction to be confirmed and I don't like to be inconvenienced this way.

As of using fiat, I rarely use this option unless I want to have some crypto and opt to use the gambling platform as a medium of exchange which I can later withdraw for other crypto uses.

Personally, I like to gamble with crypto not only because it's "KYC-free", but also because it represents freedom.

I wouldn't be too comfortable with this belief because most casino/sportsbooks have intergrated fiat payments which invites KYC indirectly to crypto uses, but of course  discretion is reserved by the books & casino and not everyone is exposed to KYC checks  .

[Awaklara]

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?

The first gambling I did was an online fiat casino. actually quite easy to operate. but sometimes, whether it's because their system is having problems or whatever happens, I often experience problems when making deposits. So you have to contact support with a screenshot of proof of deposit to successfully process the deposit. I've had it happen a few times and it's uncomfortable.

After getting to know crypto casinos, I rarely even experience similar problems. I started and often use stable assets like USDT for betting. and mostly uses stable coins in gambling although sometimes using other assets such as TRX and BNB.
I rarely use BTC for reasons of my investment assets. So I differentiate assets that I can trade or bet on in gambling from my investment assets which I will not use as much as possible.

[darkangel11]

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.

If casinos require KYC anyway, why would I care if they ask for my ID when I deposit crypto, or fiat? It's all the same in this matter.
I don't own any stablecoins or altcoins. All I have is bitcoin and I'm reluctant to put that at stake when we're about to enter a post-halving bull run.
The way I see it cash is the real winner. You may not get KYC in physical casinos where you deposit cash and you save your precious bitcoin while dumping inflationary currency.

[Beparanf]

To those mentioning that they prefer using cryptocurrencies for KYC purposes probably haven't used a casino, they're bluffing or are using non-licensed casinos.

In addition, Even acquiring crypto nowadays requires KYC since CEX requires KYC while this is the popular choice of crypto people to acquire crypto using fiat because it provides better rates in the price.

Personally, I'm against using Bitcoin due to transaction fees and higher confirmation times, but more importantly, because I consider it an investment asset and not something to be wasted on gambling.

I mostly use stable coins, mainly for convenience reasons and because their value always remains the same.

The current fee of Bitcoin is already back to 1$ which is already equivalent to Stablecoin withdrawal fee when the funds is coming from CEX.

But I do agree that Bitcoin is not economical to use for gambling purposes since it’s fee is higher than other altcoins which casino accept too.

[Ultegra134]

Actually, we can still enjoy using a casino even without KYC. I've used a lot of licensed casinos, and I can still gamble without submitting KYC documents. I think there's an amount trigger on their end, and that's probably the time they'll require you to comply with the KYC. But as of now, I've been using it for years, and I'm still enjoying it without KYC. So, we can't generalize that because a crypto casino is already regulated, we have no choice but to comply before we can gamble. In reality, it does not happen to me.

That's true, all cryptocurrency casinos I've used so far don't ask for KYC verification on sign-up, but may request it later, after withdrawing certain amounts of money. You can't avoid it forever, unless you're multi-accounting, which is often a violation of their TOS and may get you into more trouble.

If you are gambling and wants to see your progress clearly, use a stable coin where its value is the same so the risk is only on gambling and your future will be determine based on your wins and losses, not including the volatility of the price.

That's correct, using Bitcoin, Ethereum or any other coin adds another risk, which is the loss of value of these coins, I genuinely find it unnecessary to use such Bitcoin, when there are so many better alternatives for this purpose.

[skarais]

~~~

Yeah likewise me I don't have a problem using any method but however I normally prefer using fiat because of the stability, and one thing we should also understand about using crypto for the gambling is that crypto price is not stable and there is a likelihood that the crypto price could possibly depreciate in value while gambling, for instance a gamblers funded his gambling account using a certain crypto he bought during the time the market was still high and if perhaps he decides to withdraw the amount he deposited you will see that the exact amount he deposited will seriously depreciate in value because already the general crypto is down in price, which is why I normally go for fiat because no matter anything the price remains the same.

This depends on your perception of crypto. If you use crypto as a means of payment or currency in gambling, then you should no longer consider the fluctuating value in fiat of that crypto, but you should consider things in different way. You will win bet in crypto if you bet with crypto, it is proportional to the amount you bet. Ignore its fluctuating fiat value, crypto gives you something different including supporting your privacy.

Remember that some countries will freeze bank accounts exposed to gambling and this is already covered in laws that will be implemented soon. If you like to gamble with fiat, then you should know what the consequences are. Stablecoins are good as a solution if you don't want to lose the value of your crypto due to price volatility.

[ethereumhunter]

I prefer to gamble by using crypto assets to do gambling, because I am quite difficult to access fiat, and yes most of my money is rotated in the cryptocurrency world making it easier for me to use cypto currency as a tool for gambling.

In addition, anonymity is the best choice in gambling, yes even though I did KYC several times at different casinos but they don't need to know who made a deposit, so I prefer to gamble using cryptocurrency.

Simply because it is much easier for me.

Using crypto to playing gambling is more convenient for many people especially for those who knows crypto from a long time ago. Many people who knows crypto see that they can playing gambling without doing KYC but some casinos will asks that to prevents anything bad that can happens.

As a crypto user, we have a choice to use stable coins or other coins such as Bitcoin, Ethereum and others. With having many choice of the coins to gamble, we can choose any coins that can gives us convenient. We knows the coins that we wants so we will stick to that and not choose the other coins if we don't meet any difficulty to use that coin. With using cryptocurrency, we can hide ourselves from other people around us because we don't have to deposit the money from our bank account.

[piebeyb]

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?

Stablecoins are actually much safer because the value of crypto prices often go up and down and change frequently, I used to gamble and spend some Bitcoins a few years ago but after seeing the current value it is really high, since then I no longer use crypto anymore but I prefer stablecoins because for me their value remains stable and doesn't fluctuate like the price of Bitcoin or other cryptocurrencies. Talking about KYC on gambling sites actually depends on individual comfort, but for me it's never been a problem because I also don't want to be a gambling player. anonymous.

I also want my money to be safe by playing on popular gambling sites, even though I know that doesn't guarantee that gambling sites that have strict regulations and require KYC for all their users can be safe, it all depends on each user, the important thing is to always be ready to face various risks. we will face it because every gambler consciously plays at risk, so they have to be careful when choosing a gambling site.

[Mr. Magkaisa]

      -     There are times when I often use stablecoins when I play gambling, but I also have other gambling platforms that I play on, while when I play dice games, I use crypto to bet on them.
Like other crypto casinos that have free faucets, this one is the one I use to match, and I will grow it in dice games in a way that is a bit tricky but still has a risk.

That's correct, using Bitcoin, Ethereum or any other coin adds another risk, which is the loss of value of these coins, I genuinely find it unnecessary to use such Bitcoin, when there are so many better alternatives for this purpose.

What's up mate, any crypto always has associated risk, there is no cryptocurrency without risk, whether it's potential or not all of them have real risk,
that's why you shouldn't expect much to be honest.

[famososMuertos]

:://::

The crypto and not KYC is a myth, perhaps the regulations are less at the beginning, but now they are at the same level.

I think the interesting thing would have been to say that the great advantage of betting in crypto casinos is getting rid of the decimal system and having the opportunity to really bet on the size of your bankroll.

Many deposit $100 in a Fiat casino and the minimum bet is $1, so your chances are reduced to 100 bets.

[Ruttoshi]

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.

Yeah likewise me I don't have a problem using any method but however I normally prefer using fiat because of the stability, and one thing we should also understand about using crypto for the gambling is that crypto price is not stable and there is a likelihood that the crypto price could possibly depreciate in value while gambling, for instance a gamblers funded his gambling account using a certain crypto he bought during the time the market was still high and if perhaps he decides to withdraw the amount he deposited you will see that the exact amount he deposited will seriously depreciate in value because already the general crypto is down in price, which is why I normally go for fiat because no matter anything the price remains the same.

It depends on the coins that you are using. I use USDT which is pegged to fiat USD and it is a stable coin. It is when you are using coins that are volatile in nature that one will consider your point. I don't use fiat that much to gamble because I use part of the money being paid to my from my signature campaign to gamble making it easier for me to gamble with cryptocurrency.

Perhaps, I started gambling with fiat currency but after I gambled in a cryptocurrency casino, I enjoyed it and was able to keep gambling with crypto after I joined signature campaign in the forum.

[Ultegra134]

What's up mate, any crypto always has associated risk, there is no cryptocurrency without risk, whether it's potential or not all of them have real risk,
that's why you shouldn't expect much to be honest.

Gambling already carries a good amount of risk, what's the point of increasing it even further by wagering with coins of high value? That's my point, I'm not saying that it's either right or wrong, people's perception is different, this is merely how I feel about gambling with Bitcoin or any other high valued coin.

[OgNasty]

This is a crypto site so I can say honestly that I'd always prefer to use crypto for everything, not just gambling.  However, after Stake switched their payouts to partners from Bitcoin to USDT, I have fallen victim to using stablecoins.  I guess I could send them to an exchange and swap them for BTC to send back to Stake, but that doesn't seem all too productive.  I do think the constantly moving exchange rate adds a bit of extra fun for gamblers when they use crypto.  Sort of like a double bet.

[Casdinyard]

For a while I've used some of the money I earned from signature campaigns like the one I'm on as money for gambling, and that was primarily on bitcoin so imagine just how much I'm losing out on fees and potentials gains as well since I'm a trader by day. It wasn't until a few years ago where I started to really divide my bankroll and convert everything in it into USDT, to give me the best rates in fees and transfers as well as to put into perspective just how much money I'm losing when I gamble. Pretty effective if I do say so myself.

Now I only every gamble using Stablecoins, it's not that different from gambling with crypto or fiat really, just that now you're more aware of how much money you lose, which is generally very important especially when taking into consideration the gambling strategy I used, so there's that.

I would highly suggest gamblers like me to actually separate their bankrolls from their main money, to give them a great perspective on how much money they're spending when they gamble, it also ensures you don't spend anything you would use for more important stuff.