What exactly are stablecoins? Can you actually use them in casinos? What kind of connection do they have to altcoins, if any? Gamblineers has an ever growing collection of stablecoin guides with a lot more to come! You can find your favourite stablecoin guide in the altcoin menu!
One thing that is common to the majority of cryptocurrencies is the volatility that they experience throughout their existence. It is exactly volatility that prompted developers to create a cryptocurrency that is not impacted by the market’s unpredictability. This is how stablecoins came to fruition. But what exactly are stablecoins in the context of cryptocurrency?
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Stablecoins are still considered to be altcoins, since the term “altcoin” applies to all cryptocurrency that isn’t Bitcoin – basically everything else. But not all altcoins are stablecoins. There are actually few, only a couple of hundred stablecoins, as opposed to thousands of regular cryptocurrencies that fluctuate according to the market. If you have a couple of stablecoins in your pocket, we suggest picking one of these casinos since they all accept a lot of different cryptocurrencies. On top of that, all of them offer casino and sports betting. But we definitely recommend that you check outBC.Game since they have more than 70 different cryptocurrencies in their arsenal!
Cloudbet andMelBet casinos. They both offer around 20 different cryptocurrencies each.
Stablecoins such as Binance USD, Dai, Tether, True USD, USD Coin, Pax Dollar, Gemini Dollar and Fei USD are widely adopted among the crypto gambling community. They all constantly stay in the ratio of 1:1 to the US dollar and are used as a non volatile, decentralised store of value. Tether is the most popular among players and can be found at the majority of the casinos that support stablecoins. For the most part, the majority of stablecoins are pretty much the same.
On the other hand Binance USD is issued as a token on Ethereum’s blockchain that also supports Binance’s BEP-2 chain. This is why converting certain trading pairs such as BUSD/USDT, USDC/BUSD, TUSD/BUSD and PAX/BUS on the BEP-2 blockchain results in zero fees! Players who prefer Binance USD should check out DogsFortune casino, since it is best suited for their needs. BitStarz casino is aswell an extremely good casino, which on the other hand has many stablecoins. This is why it is the top pick for players who prefer stablecoins such as Dai, Tether, True USD and USD Coin.
Stablecoins are built in a way where they exclude the market’s volatility by being pegged to an asset like the US dollar. This option has shown to be crucial in the decentralised finance ecosystem because it allows for a safe and stable store of value that can’t really be achieved with the “traditional” cryptocurrency. To put it differently, stablecoins are just like regular fiat currencies that aren’t volatile, but they have all the benefits of decentralised assets.
There are a few advantages when comparing stablecoins to the rest of cryptocurrency. Stablecoins stay constantly at the same value, whereas other cryptocurrency’s value fluctuates according to the market. That’s why stablecoins are a good medium for transactions and making bets. They are really good for gambling – they mean that you won’t lose your money because of the market’s volatility.
On top of that, you can compare stablecoins to fiat currencies. Transactions with stablecoins are way faster; they typically take about an hour if not less to reach the other address. Furthermore, stablecoins are far more secure than fiat currencies because of the way that the blockchain transactional system is set up. Oh, and we almost forgot – they are also anonymous! Keeping your identity safe iis one of the major parts of online gamlbing. Not only that, but the fees of stablecoins are also much lower when you compare them to Bitcoin. Fees typically depend on the blockchain on which a certain stablecoin is built.
There are quite a few differences between playing with Bitcoin and playing with stablecoins. The main difference is that stablecoins’ value doesn’t fluctuate according to the market. Instead it stays the same in 1:1 ratio to the value of its pegger, which is typically the US dollar. In addition to gambling, Bitcoin is normally used for trading and investing, while stablecoins are, besides gambling, used as a medium of exchange and as a way to store your assets digitally and in a decentralised manner.
You will most likely find DAI, USDT, Binance USD, TrueUSD, Pax Dollar, Gemini Dollar, STASIS EURO and USDC at casinos that support stablecoins as their payment method. However, there is a chance that you will find only a couple at each casino.
Stablecoin casinos are becoming more and more popular because they grant players security and stability. There are quite a few things that you can consider when deciding which stablecoin casino to pick.
When you decide that you will start gambling online with stablecoins you might want to consider which games a certain casino provides and how many games does it have in general. Majority of the stablecoin casinos feature all the popular games such as slots or poker, for example. On the other hand, if you have a specific game in mind then you might have to check a few different casinos since chances are that you won’t find every game at every casino.
There are quite a few differences between playing with Bitcoin and playing with stablecoins. The main difference is that stablecoins’ value doesn’t fluctuate according to the market. Instead it stays the same in 1:1 ratio to the value of its pegger, which is typically the US dollar. In addition to gambling, Bitcoin is normally used for trading and investing, while stablecoins are, besides gambling, used as a medium of exchange and as a way to store your assets digitally and in a decentralised manner.
You will most likely find DAI, USDT, Binance USD, TrueUSD, Pax Dollar, Gemini Dollar, STASIS EURO and USDC at casinos that support stablecoins as their payment method. However, there is a chance that you will find only a couple at each casino.
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Cons
Like regular casinos, stablecoin casinos usually feature bonuses. There are typically three forms of bonuses that you can encounter when first signing up: sign-up bonus, no deposit bonus and welcome package, which is usually a collection of about four bonuses that you can only redeem once! On top of that, certain casinos hold promotions that are specific to a certain stablecoin. When picking your stablecoin casino, you should consider the bonuses they offer as well since they actually vary quite a lot, and there is a chance that you will find a collection of bonuses that perfectly suit your needs!
On top of that, stablecoin bonuses offer way more than fiat bonuses and have additional perks, which is definitely an advantage.
There are a few options to choose from when purchasing your favourite stablecoins.
The first option is to buy them in advance on different exchangeslike Kucoin or Binance. After purchasing them you can fairly swiftly transfer them to your casino. However, this process will take you some time, especially if you are a new user. You would have to create an account on an exchange, wait for their verification and learn how the purchasing process works. On the other hand, if you already know your way around cryptocurrency, the transfer process can be carried out in a minute or two. After that the stablecoins will typically arrive in no more than an hour.
The second option is to purchase altcoins straight from the online casino, which is probably the most beginner friendly method users can choose. However, if you choose this option you will have to pay via wire transfer or credit card. This means that if you are doing this after the operating hours of your bank, you will have to wait until the next day (or in some cases even more) for your stablecoins to arrive.
And the third option is to buy them with different payment providers such as MoonPay, CoinsPaid, Neteller, ecoPayz, Jeton, Neosurf and Skrill. Some casinos even support paysafecards! Most of the casinos support at least a couple of different payment providers, however not all of them support all. With the exception of paysafecard, the process itself is similar to the first one, where you need an already existing account with some funds so that you can purchase the stablecoins. This process usually takes longer than transfers with cryptocurrency – but hey, at least you can start playing on the same day!
There are more than a handful of game types that you can find at pretty much all stablecoin casinos. The games are so very common and popular because they are incredibly fun to play. The difficulty and level of play and skill required to win them ranges from easy, all the way to quite hard. On the other hand, you can also find quite a handful of interesting games that can only be found at certain stablecoin casinos. They too accept stablecoins as currency, however you might have to dig a little deeper to find them.
In this part of the guide, we will describe the more common stablecoin games that can be found at pretty much every stablecoin accepting casino.
Crypto slots are one of the most popular games due to their progressive jackpot option, which gathers a fraction of players’ bets and adds them to the jackpot! On top of that they are one of the easiest games to play. You just set the bet and click on the ‘’spin now’’ button. That’s really all you have to do.
Crypto poker, on the other hand, is quite a complex game as opposed to crypto slots. You need a lot of knowledge and quite a bit of skill in order to win. When playing poker, you will also play and compete with other people, whereas slots is mostly a single player game.
Crypto blackjack is easier than poker. In this case, you play against the dealer. Other people may join the same table, however they do not compete with you. At crypto blackjack your aim is to beat the dealer’s hand without going over 21.
Crypto roulette is also one of the simpler games where you can win a lot of money. In terms of how difficult the game is, it ranks right behind crypto slots. Here, you have to pick your bet and predict the bracket in which the ball will fall into.
Crypto crash is one of the simpler games. All you have to do in order to win is bet on the point at which the multiplier will crash, hence the name.
When it comes to crypto dice, the name can be kind of misleading. The game doesn’t actually involve dice. Instead, you have to decide if the outcome will be lower or higher than a certain number on a scale, usually from 1 to 100.
Crypto plinko is actually one of a kind game and you won’t find it named anything else. The objective of this game is to drop a ball or a ring down the triangle and have it land on either farthest right or farthest left side, where the prizes are the biggest.
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