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 find out 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 US 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 “stablecoins casinos”
Stablecoins, what can we say?
It goes without saying to look for stable currencies to be able to secure your profits when investing in a business. 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 crypto-currencies one uses will retain their value no matter what 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 transactions to be made on a daily basis. In addition, its use minimizes the risk 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 some countries such as France, Belgium, countries with a state regulator. The FDJ or the 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 operators already imagine being able to play in a casino where all trading is 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 value of the US dollar are more successful than those that 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 flaw according to traders 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 by up to 50% in one day. This is because when you opt for traditional cryptocurrencies, you are not only betting for the game, but also for the price of the coin you are using.
Let’s look at a specific example so that 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 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 $4,000. In the end, your 0.1 BTC will be worth only $400. This means that even if you win your bet, you will lose $100.
It is also possible that the value of BTC will increase. Imagine that you place 0.05 BTC, equivalent 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 this point, your 0.1 BTC is worth $2,000 and you decide to make a withdrawal. You will leave with an additional $1000.
Both scenarios are quite possible when you decide to use traditional cryptos. You can get rich in a short period of time or lose it all in the blink of an eye. Stablecoins, on the other hand, allow you to play as if you were using fiat currency. This allows you to focus solely on the game at hand. As far as taxes on crypto-games are concerned, which is a generally difficult concept to understand, there is no need to worry, as 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 reputable crypto-casinos like BC Game Casino, Cloudbet or True Flip.
You’ll enjoy their great game selections, including slots, roulette, and poker, and you’ll also get bonuses that allow you to wager even more. You should also know that these casinos accept up to 65 or more cryptocurrencies. Whether you want to play with Binance USD, Tether, Pax Gold or USDC, you will find what you are looking for.