Casinos with stablecoins, everything you need to know!
Cryptocurrencies were still very much unknown a decade ago. Only top computer scientists and hackers knew what Bitcoin was. For five years now, these digital currencies have been gaining popularity, but many have remained skeptical about using them on a daily basis given their high volatility.
There are several types of virtual currencies today. We will try to learn more about stablecoins that were created in order to cope with the huge changes in value due to price fluctuations in the market. Indeed, they are digital currencies whose values are indexed to the values of other assets such as oil, gold or even fiat currencies such as the American dollar. This makes stablecoins a more reliable cryptocurrency.
Stablecoins and casinos, what you should know
It is becoming more and more common to hear about cryptocurrencies these days. Several sectors currently accept the use of these virtual currencies as a payment method. The world of live gaming is the perfect example as a large number of online casinos use stablecoins today. But why exactly do they prefer stablecoins?
Each crypto-casino has its own explanations, but there are three main reasons that gather opinions regarding the use of stablecoins in the world of iGaming: firstly, they are more stable and thus protect from strong fluctuations, secondly they help to minimize losses since there is no need to bet on the value of the crypto-currencies anymore and thirdly, casinos usually reserve many advantages for those who decide to use stablecoins in gambling.
What links to learn more about the best StableCoins Casinos
Frequently Asked Questions “stablecoin casinos”
Stablecoins, what can we say?
It goes without saying to seek to use stable currencies to be able to secure your profits when it comes to investing in an activity. This is one of the reasons why many investors and traders decide to use stablecoins whose values are indexed to the values of stable assets. It is, without a doubt, more reassuring to know that the cryptocurrencies we use will retain their value whatever happens in the market. Changes in value are inevitable, but they are minimal for stablecoins. You should also know that stablecoin is a virtual currency that can be used beyond the world of trading. It is a cryptocurrency that can be of great help for daily transactions. In addition, its use minimizes the risks of losing money.
What about gambling with crypto jackpots?
Many countries, such as Canada and the United States of America, already have several crypto casinos. However, the transition may be quite long for certain countries such as France, Belgium and countries with a state regulator. The FDJ or Française des Jeux in France, decide to integrate cryptocurrencies as a payment method. This is a big step forward in the world of iGaming and many reliable operators already imagine being able to play in a casino where all exchanges are done using cryptocurrencies. The first step is to have land-based casinos that accept bitcoin wagers and pay in bitcoin as well. It is clear that stablecoins whose values are indexed to the values of the US dollar are more successful than those which are backed by the euro. Only an initiative from the European operators will help to make euro stablecoins known worldwide.
🍉 Why choose Stablecoins to play with?
The volatility of cryptocurrencies is their biggest drawback according to operators who use them on a daily basis. This volatility can lead to huge losses in the gaming world. Losses are inevitable when the values of the currencies used vary up to 50% in a day. Indeed, when you opt for traditional cryptocurrencies, you are not only betting on the game, but also on the price of the coin you are using. Let’s take a specific example so you can better understand the importance of using a stable currency. Let’s say you place a bet of 0.05 BTC and at that moment 1 BTC is worth $10,000. Your bet is therefore worth $500. Imagine you win and then you decide to double your money, $1000 is worth 0.1 BTC. The moment you decide to withdraw your winnings, the value of BTC drops to $4000. In the end, your 0.1 BTC will only be worth $400. This says that even if you win your bet, you lose $100. It is also possible that the value of BTC will increase. Imagine you invest 0.05 BTC, equal to $500. You win and now have 0.1 BTC in your possession. A few hours later, the value of BTC climbs to $20,000. At that point, your 0.1 BTC is worth $2,000 and you decide to make a withdrawal. So you will walk away with an extra $1000. Both scenarios are entirely possible when you decide to use traditional cryptos. You can get rich in a short time or you can lose everything in the blink of an eye. Stablecoins, on the other hand, allow you to play as if you were serving as fiat currencies. This allows you to concentrate solely on the game in question. Regarding crypto-gaming taxes, which are a generally difficult concept to understand, there is no need to worry, because the issue is simplified for stablecoins.
Where to go to play with Stablecoins?
It is especially important to choose a reliable casino when it comes to playing online. The choice can be difficult if you are one of those who prefer to play with stablecoins. It is strongly recommended to get information beforehand to be sure to play in the best conditions. We advise you to turn to renowned crypto-casinos such as BC Game Casino, Cloudbet or True Flip. You will benefit from their large game selections, including slot machines, roulette or even poker and you will also be entitled to bonuses that will allow you to bet even more. Also note that these casinos accept up to 65 cryptocurrencies or more. Whether you want to play with Binance USD, Tether, Pax Gold or USDC, you will find what you are looking for.