Gambling with stablecoins, Fiat, or crypto?

[SmartGold01]

Guys you can't go away with fiat even though we are in cryptocurrency world. The only thing you can say is that, as $weetne$$ said, crypto make the transaction faster but if you don't have cryptocurrency asy the time of deposit won't you use the Fiat? We should be realistic sometimes. Assuming you have one half dollar in your account and the minimum deposit is one dollar. Will you deposit it to the casino or you use it to buy crypto first before depositing? I don't know if you have deposited and play games because these are clear things to understand. I have deposited fiat and deposited crypto and I have seen the two differences. As I said crypto is fast in transaction or deposit.

People just to understand things here most times they makes it looks as if when there were no crypto how did they made deposit online to gamble? Of course they were using fiat to gamble because, the only reason where I think fiat is bad is that when you make huge win and send directly to your bank account you could be questioned about your source of money, and at that time your account could be locked but with cryptocurrency to any amount you sent to you wallet there would be no questioning on how you received those amount from or not. Both are good be it fiat or cryptocurrency the fact is mind which to chose and when choosing them make sure to have passed all the kyc requirement from casino's.

Most of them are not even gamblers and they are making comments because they are promoting gambling or casinos and they don't know how cryptocurrency works in the industry. Normally I have not withdraw with fiat because the process is cumbersome and delay so I always convert it to crypto before making the withdraw. And I only deposited with fiat. But even crypto is faster and more secure than fiat, we should not neglect fiat because we might use it one day. And after withdrawing it to the exchange, you will still use fiat so fiat is vet important with crypto.

The both operate with each others like we can't mentioned cryptocurrency without the need for fiat because after whatever they have traded and gambled with, we must need cash to as the finished end to spend within our homes. But if cash aren't valued then how do we spend it at our place now that cryptocurrency is largely and legally accepted as a means of legal tender does it mean that we should scrape cash away from us?
No this is not possible so, when we mentioned cryptocurrency the next thing should be in our minds is fiat because even as us who uses NGN before acquiring Cryptocurrency we must first touched our fiat to cryptocurrency so why then the suddenly dislike on fiat or stablecoin.

[khiholangkang]

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.

If you want to gamble with a small amount of money then crypto is the best option because in this case you will get different types of coins where the withdrawal fee is very low.  In the case of stablecoins, the benefits are also high, but here the withdrawal fee will be slightly higher. Fiat Money I never like for gambling because when you go to deposit with bank card you face many kinds of problems and you get less limit but in case of crypto you get unlimited limit and using crypto you can gamble completely anonymously so I always use crypto. Like and use more for gambling

Of course using crypto is something that is a favorite in doing online gambling, this is like what you said from the various benefits, but why talk about other things if we really like using crypto as a gambling tool, yes cheap is something that is always the main transaction, like on the BNB network or on TRX, I like to do bets using crypto.

As far as I know Crypto gambling I have never thought of using fiat in my gambling activities so far, right what you say, it is quite lazy to provide banking data, because it will refer to our identity, it is better to avoid it.

[yudi09]

Of course using crypto is something that is a favorite in doing online gambling, this is like what you said from the various benefits, but why talk about other things if we really like using crypto as a gambling tool, yes cheap is something that is always the main transaction, like on the BNB network or on TRX, I like to do bets using crypto.

Stablecoins and fiat are my two choices for gambling because both are easier.
Fiat is the one I make deposits with most often even though gambling is not as free as people do because of the applicable regulations. As an active gambler, crypto casinos are more interesting because winnings in the form of stablecoins can be withdrawn and converted to fiat.

[nullama]

Before know online casinos i have already to gambling but not using physical casino or visiting land based casinos because this still illegal in my country but i have been gambling using fiat and usually PvP games and the game which i played usually traditional card between my friends but since i know online gambling i never done that again because online gambling was offering the easiest way to gamble without having to play face to face with your opponents and it's more comfortable for me even currently i was so often to gamble using cryptocurrency and usually the coin i used is bitcoin but since the fees became so high for each transactions then changed my habits now because i would be more prefer to gamble using stablecoins and the fees also quite cheap if gambling using this currency compared to bitcoin so compared to fiat, bitcoin or altcoins i think i personally more prefer to used stablecoins

Yeah at the end of the day it means that the money that you are spending is actually something real.

It doesn't really matter if it is USDT or Bitcoin or whatever, at the end of the day it is money.

So, I think most people should just think twice before gambling away all their money.

[khiholangkang]

Of course using crypto is something that is a favorite in doing online gambling, this is like what you said from the various benefits, but why talk about other things if we really like using crypto as a gambling tool, yes cheap is something that is always the main transaction, like on the BNB network or on TRX, I like to do bets using crypto.

Stablecoins and fiat are my two choices for gambling because both are easier.
Fiat is the one I make deposits with most often even though gambling is not as free as people do because of the applicable regulations. As an active gambler, crypto casinos are more interesting because winnings in the form of stablecoins can be withdrawn and converted to fiat.

Does that mean you are indirectly depositing fiat using your bank account to gamble?

talking about conversion you can do it easily, usually if you use crypto there is always an estimated value of stablecoins or fiat in your casino account, if you want to convert and withdraw you can do it on the exchange, but that's good and I'm not trying to corner you, you are quite brave and I think everyone has their own habits and goals, whether using fiat, stablecoins and crypto for gambling activities.

[ethereumhunter]

Yeah, that's the thing.

When you are dealing with fiat withdrawals, it doesn't matter if you bet in Bitcoin or anything else, at the end of the day it is fiat.

So, they will want to link your identity to that deposit.

And I think most crypto payment are getting into that link anyway in the casinos, same as fiat.

So that depends on ourselves to choose which one we want to use to playing gambling. If you want to use big money to playing gambling, you must prepare for the verification that you should do from the casino. You can't choose to avoids that verification unless you moves to other casinos that doesn't have strict rules to verify yourself when you use big money.

We can't avoid the verification and maybe that will apply in all business in the future especially if the governments wants to know furthermore about their citizen that playing gambling. We must know and understand the rules so we can adapt with the current situation so we can enjoy our time to playing gambling.

It's pointless to gamble with a casino that has your kyv verified and then you went ahead and make withdrawal of xmr request like where is the sense in that for using such coin. You have already broken your privacy the momem you accepted to do kyc on the casino. It will even do you more good to request for usdt withdrawal than doing privacy coins as it will raise suspicions more when you are known and you decided to hide your privacy again.

It's just impossible to see a casino that doesn't ask you for KYC, you must do it before you can used their service on a full scale and even if you are allowed to used their service, a time will come when you will be ask to do it else you wouldn't be allowed to withdraw your funds and with some situations we have seen with some casino, they rarely accept kyc after a customer has won a huge amount, they do that to avoid paying out.

That's why before we choose the casino, we must research furthermore to find out about their rules so we can thinks and decide what we need to do. Most people just follow other people suggestion without research to find out if that casino is a place that they want to playing gambling. They forget that finding a casino for them will depends on themselves and not just from other people suggestion.

If they use one casino but that casino require us to verify ourselves and we accept that rule, we will not complain with anything and will not be a problem with that. We can use any coins we want to playing gambling especially if a casino gives many coins as their members choice to playing gambling. We will not have a problem to use XMR as a coin to playing gambling because we feels that XMR is our favorite coins.

Governments will only be able to enforce KYC on centralized casinos or gambling sites. But what about truly-decentralized gambling dApps built by anonymous developers? Governments will have a hard time trying to verify the identities of gamblers using such dApps. I know centralized gambling will always be the leading force of the industry. But that doesn't mean it'll be the end of private and decentralized gambling. They will turn into a viable alternative for those who need it the most.

I choose to gamble with crypto because of the many benefits it provides. Even if market volatility leaves me with less profit in Fiat terms. Just keep all of the proceeds in crypto (never cash out or convert to Fiat), and the "taxman" will leave you be. Who knows how the crypto gambling industry will evolve in the future?

Maybe the government will difficult to trying to verify the identities of gamblers using such dApps but we should know and understand that the government can force the casino to require their members to do KYC even if that casino is decentralized casino. We know what the government can do with the business and they will do many things to know what they wants. We can't do anything except follow the rules on the casino but we can choose what we wants by research the casino that we needs.

If we still use crypto to playing gambling, we take care of ourselves from anything that can happens including the taxman that will chase us. We can be careful when we want to use crypto to playing gambling and that's why we can still use crypto than use fiat especially we know that use crypto gives benefit to us. The crypto gambling industry will evolve in the future following the rules from the casino and the government and we can only follow if we still want to playing gambling.

[CryptoHeadlineNews]

Before know online casinos i have already to gambling but not using physical casino or visiting land based casinos because this still illegal in my country but i have been gambling using fiat and usually PvP games and the game which i played usually traditional card between my friends but since i know online gambling i never done that again because online gambling was offering the easiest way to gamble without having to play face to face with your opponents and it's more comfortable for me even currently i was so often to gamble using cryptocurrency and usually the coin i used is bitcoin but since the fees became so high for each transactions then changed my habits now because i would be more prefer to gamble using stablecoins and the fees also quite cheap if gambling using this currency compared to bitcoin so compared to fiat, bitcoin or altcoins i think i personally more prefer to used stablecoins

Yeah at the end of the day it means that the money that you are spending is actually something real.

It doesn't really matter if it is USDT or Bitcoin or whatever, at the end of the day it is money.

So, I think most people should just think twice before gambling away all their money.

Yes, it's true that whether a gambler gambles with either stablecoin such as USDT or Bitcoin, what matters most is that they are all money, hence, when it comes to me, one approach i have always used is by sticking to gambling with Bitcoin, and then change the amount setting to USD, instead of it bee displayed in BTC, so as to know the value of the amount of Bitcoin I'm gambling with, because one thing certain amount these two phenomenon is that whether a game is gambled with either fiat or crypto, it doesn't affect the value of that money, because $100 in Bitcoin will always be the same in stablecoin and fiat. However, what matters most in gambling is success.

[yudi09]

-snip-

Does that mean you are indirectly depositing fiat using your bank account to gamble?

No. I use e-wallet to gamble. I don't use a bank account to receive and deposit to the gambling site.

talking about conversion you can do it easily, usually if you use crypto there is always an estimated value of stablecoins or fiat in your casino account, if you want to convert and withdraw you can do it on the exchange, but that's good and I'm not trying to corner you, you are quite brave and I think everyone has their own habits and goals, whether using fiat, stablecoins and crypto for gambling activities.

Correct. Ease of conversion to Fiat may not be so difficult. The ease of withdrawing from the casino to a private address is also not difficult if the casino we choose to gamble prioritizes good service. Many complaints have arisen because of withdrawal services even though I don't know how the actual process.

[topbitcoin]

As of now I prefer to be in bitcoin as capital for gambling. It's not that stablecoin or some altcoins are bad but indeed maybe this is because of the habit that I always do every time in gambling so that I still do it in bitcoin regardless of the increase and decrease in the price of bitcoin that occurs.
It's like a habit that is difficult to change and when I use stable coin or altcoin there is a sense of discomfort because it is too often in bitcoin as the main choice. Maybe on the other hand I don't seem to care too much when I gamble but there is a certain satisfaction when I am in gambling using bitcoin so there is a certain comfort and satisfaction for me personally.

[khiholangkang]

-snip-

Does that mean you are indirectly depositing fiat using your bank account to gamble?

No. I use e-wallet to gamble. I don't use a bank account to receive and deposit to the gambling site.

Wait a minute, is there crypto gambling that can use e-wallets from our country? What is it, maybe once in a while I want to try it to bet when I'm lazy to use crypto?

So far I have never done that as long as I know crypto gambling, I need to add new experiences for some knowledge to compare my judgment later in assessing cases like this.

[Awaklara]

As of now I prefer to be in bitcoin as capital for gambling. It's not that stablecoin or some altcoins are bad but indeed maybe this is because of the habit that I always do every time in gambling so that I still do it in bitcoin regardless of the increase and decrease in the price of bitcoin that occurs.
It's like a habit that is difficult to change and when I use stable coin or altcoin there is a sense of discomfort because it is too often in bitcoin as the main choice. Maybe on the other hand I don't seem to care too much when I gamble but there is a certain satisfaction when I am in gambling using bitcoin so there is a certain comfort and satisfaction for me personally.

I don't know what kind of feeling you get from using Bitcoin betting. I also use Bitcoin more often, but there are some times that I might use altcoins and stable coins. Nothing bothers me with using Bitcoin or altcoins to bet. Maybe by chance the allocation that I have prepared in the form of Bitcoin to bet then I bet with Bitcoin. But if the situation allows or forces me to make a deposit and play with altcoins and stable coins, I have no problem.

[Wapfika]

Wait a minute, is there crypto gambling that can use e-wallets from our country? What is it, maybe once in a while I want to try it to bet when I'm lazy to use crypto?

So far I have never done that as long as I know crypto gambling, I need to add new experiences for some knowledge to compare my judgment later in assessing cases like this.

What specific country you are residing because some casino especially those offer fiat currencies supports already e-wallet direct payment for your deposit since they typically partner with local 3rd party payment provider.

I’ve been using my e-wallet on several occasions to deposit on crypto casino. There’s a lot of currency available so I think your country might be available if it allow online gambling.

The only downside on using e-wallet is the transaction for withdrawal since casino usually charge extra fro fiat currency.

[Obari]

in other words, you're not classifying stable coins aren't cryptocurrency or what?

actually I will make do with cryptocurrency in situations where I have to choose one else I'm not not bothered using either of them as the target is to make profit and not the gambling currency provided the casino is a good and reputable one.

just as I've always written that, I'm not bothered giving out my kyc especially if I feel safe with a casino as I have no intentions of using their platform for any criminal act or what so ever 

[hahay]

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?

Betting using crypto and stablecoins is a very good choice because after all, I feel that using them seems to have its own freedom because it will remain anonymous. Therefore, I am never interested in betting using fiat on any gambling platform, because when we use fiat then at least our gambling is no longer anonymous and at least that is something I don't like.

Indeed, using crypto has high volatility but I personally never mind it. Because my goal in gambling is to remain anonymous, so even though I use crypto and at the same time the price can rise and fall quickly, I personally will still enjoy gambling itself and not worry about the volatility that occurs.

[khiholangkang]

Wait a minute, is there crypto gambling that can use e-wallets from our country? What is it, maybe once in a while I want to try it to bet when I'm lazy to use crypto?

So far I have never done that as long as I know crypto gambling, I need to add new experiences for some knowledge to compare my judgment later in assessing cases like this.

What specific country you are residing because some casino especially those offer fiat currencies supports already e-wallet direct payment for your deposit since they typically partner with local 3rd party payment provider.

I’ve been using my e-wallet on several occasions to deposit on crypto casino. There’s a lot of currency available so I think your country might be available if it allow online gambling.

The only downside on using e-wallet is the transaction for withdrawal since casino usually charge extra fro fiat currency.

I don't know which crypto casinos, which provide such services for my country, where today gambling is in the spotlight in my country, and some casino sites are blocked because they are officially banned in my country, so if there is a third party that cooperates then it is likely to get a violation for providing it to gamblers in Indonesia.

I also when I want to withdraw my gambling proceeds not directly from the casino to my local exchange platform, but I first park it on binance or bybit and then send it to my local exchange for exchange so that it is not indicated as money from gambling.

[Ruttoshi]

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.

If you want to gamble with a small amount of money then crypto is the best option because in this case you will get different types of coins where the withdrawal fee is very low.  In the case of stablecoins, the benefits are also high, but here the withdrawal fee will be slightly higher. Fiat Money I never like for gambling because when you go to deposit with bank card you face many kinds of problems and you get less limit but in case of crypto you get unlimited limit and using crypto you can gamble completely anonymously so I always use crypto. Like and use more for gambling

Of course using crypto is something that is a favorite in doing online gambling, this is like what you said from the various benefits, but why talk about other things if we really like using crypto as a gambling tool, yes cheap is something that is always the main transaction, like on the BNB network or on TRX, I like to do bets using crypto.

As far as I know Crypto gambling I have never thought of using fiat in my gambling activities so far, right what you say, it is quite lazy to provide banking data, because it will refer to our identity, it is better to avoid it.

Using crypto to gamble helps you bypass bank attention on what you are using your funds to do because you are just sending funds from your wallet to your gambling account. It also makes it more convenient will lower fee.

I think crypto casinos are the best to enjoy your gambling activities on, and I am enjoying the new technology because I am a crypto fan. There are a lot of cryptocurrency which one can use in gambling unlike fiat.

[nullama]

~snip~
Using crypto to gamble helps you bypass bank attention on what you are using your funds to do because you are just sending funds from your wallet to your gambling account. It also makes it more convenient will lower fee.

I think crypto casinos are the best to enjoy your gambling activities on, and I am enjoying the new technology because I am a crypto fan. There are a lot of cryptocurrency which one can use in gambling unlike fiat.

I think most casinos act basically like an exchange.

What I mean by that is that you don't really move around Bitcoin when you're betting, you are most probably just betting with an IOU version of Bitcoin.

That way they can have a centralized version of it and move that quickly.

It's only when you withdraw Bitcoin that you actually get Bitcoin.

[Abiky]

in other words, you're not classifying stable coins aren't cryptocurrency or what?

actually I will make do with cryptocurrency in situations where I have to choose one else I'm not not bothered using either of them as the target is to make profit and not the gambling currency provided the casino is a good and reputable one.

just as I've always written that, I'm not bothered giving out my kyc especially if I feel safe with a casino as I have no intentions of using their platform for any criminal act or what so ever 

Stablecoins are NOT cryptocurrencies. They're just digital Fiat. At least, that's the way I see them. When you use a stablecoin, you're subject to the will of the issuing company. I've read that both Tether and Circle censored (blacklisted) stablecoin transactions in the past.

Would you imagine being prevented from gambling with stablecoins just because the government doesn't want you to? Truly-decentralized cryptocurrencies like Bitcoin, Litecoin, and Monero are better choices. Not even Fiat is worth it. The taxman will come at your door if you earn big profits and don't pay your taxes. Gambling with the aforementioned coins (or even privacy coins which are better) will allow you to achieve true piece of mind. I'm yet to see a physical casino accepting crypto for deposits/withdrawals. Maybe someday, right?

[Hispo]

...

That is true, but it does not matter, in the end of the day both exchanges and casinos have to count on having a big enough liquidity to satisfy the withdrawal of funds from their wallets to the non-custodial wallets of their gamblers. In the meantime, as one spends time gambling one does not actually have any possession over the Satoshis deposited in the casino or exchange, the old saying "not your keys, not your Bitcoin".

I am comfortable enough keeping balance on exchanges and casinos which have been proven through time and track record to hold enough liquidity in their possession, so one does not have much to worry about, in the case of Stake, for example, they had enough liquidity to continue to operate after suffering an attack, which only talks wonders of their excellent liquidity to honor the withdrawals of their lucky gamblers and bettors.

[hedgeh0g]

~snip~
Using crypto to gamble helps you bypass bank attention on what you are using your funds to do because you are just sending funds from your wallet to your gambling account. It also makes it more convenient will lower fee.

I think crypto casinos are the best to enjoy your gambling activities on, and I am enjoying the new technology because I am a crypto fan. There are a lot of cryptocurrency which one can use in gambling unlike fiat.

I think most casinos act basically like an exchange.

What I mean by that is that you don't really move around Bitcoin when you're betting, you are most probably just betting with an IOU version of Bitcoin.

That way they can have a centralized version of it and move that quickly.

It's only when you withdraw Bitcoin that you actually get Bitcoin.

Yes, it may be so, because it is very convenient. I have never seen a casino mention this, but it is understandable, because the main goal is not to convince their players of this. The main goal is to attract as many players as possible and have them play for a long time with a large number of bets. Some casinos use their own token that gives a small advantage and it is profitable to use it, especially if someone plays often. Different casinos may have different functions and benefits for the average player.

I try to use those tokens and cryptocurrencies in the game that have the lowest fee, and if the casino takes all the costs on itself, then it does not really matter to me what to use, although it is easier to do the calculations in stablecoins.