The Benefits of Using Stablecoins for Betting: Reducing Volatility in Crypto Gambling
The online gambling world has always been the hub of new ideas and innovations, which is one of the reasons why crypto gambling sites were born in the first place. They offer punters high levels of anonymity, reduced transaction fees, and faster payouts, but they come with some concerns as well. This is where stablecoins go into the equation, as they seek to eliminate some of the drawbacks of traditional cryptocurrencies. Join us in uncovering how stablecoins can be beneficial for betting.
Stablecoins in a Nutshell
Before we dive into the use of stablecoins in a Bitcoin sportsbook, let’s define them. Stablecoins are digital currencies that harness the benefits of being decentralized and backed by blockchain technology but without any volatility attached.
Stablecoins can be backed by any currency, as they are pegged to the value of their underlying asset and managed by their relevant platform. For example, Tether is pegged to the value of the US dollar, so the price remains consistent with it. That way, it seemingly provides a better tool for digital payments at crypto sportsbook operators.
Companies behind these coins hold a US dollar equivalent for each coin in circulation, and these funds are called “reserves.”
The Best of Both Worlds
It won’t be a stretch to say that stablecoins are transforming the entire crypto-gambling world, as they offer the best of both worlds for both casinos and punters. Every Bitcoin casino that integrates stablecoins will get to use the advantages of blockchain technology while not allowing players to be exposed to the volatile nature of other cryptocurrencies. Let’s take a closer look at how stablecoins offer a completely unique and beneficial gambling endeavor.
Predictable and Stable
When speaking of the benefits that come with gambling with stablecoins, we simply have to start with their price stability. They will inevitably protect both your deposits and withdrawals against market volatility, which is something you won’t get to enjoy at an altcoin casino. Once again, this benefit goes both ways:
- Casinos are relaxed about accepting deposits with stablecoins, knowing that their value cannot be depleted.
- Players won’t need to worry about getting less money due to sudden price drops when withdrawing.
Hedge Against Failing Markets
On the surface, this may seem like a separate advantage, but since you hold a crypto asset, you will need to trade it. That way, you can use stablecoins like USDT to hedge against other cryptocurrencies when the market experiences a decline in its value.
Thanks to USDT and other stablecoins, you can liquidate your assets and then enter the market again as the industry eventually stabilizes.
Enhanced Security
To avoid any dilemmas here, stablecoin transactions are still 100% secure, as is the case with every Ethereum sports betting operator out there. All transactions made with stablecoins are still recorded on a decentralized ledger, which is transparent and keeps your gambling experience more discreet.
Fast and Cheap Transactions
It is not just an instant withdrawals Bitcoin casino that can provide you with a lightning-fast withdrawal process. Gambling with stablecoins means that you won’t need to worry about unnecessary delays, which is very common for fiat payments.
Wider Player Base
When used at online gambling sites, stablecoins can help the online gambling brand attract a wider global audience as a new wave of crypto-savvy punters will be inherently interested in joining the operator. Just by looking at the challenging facts surrounding stablecoins, it should not be surprising to see people claiming they will become the new frontier of the crypto-gambling world.
What Does the Future Hold?
We can safely say that stablecoins are slowly but surely revolutionizing the entire online gambling industry. They do so by offering stability that no other cryptocurrency can match; thus, they act as a bridge between traditional fiat currencies and crypto coins.
They integrate the best of the two worlds, so it seems like in the very few areas cryptocurrencies lack, stablecoins have filled those gaps and are making giant strides to be the main payment alternative for crypto punters.
As it is, the future of online gambling with cryptocurrencies looks safe and promising, but stablecoins are here to occupy a prominent position on the table. All indicators show that they will take over as the perfect blend of traditional and digital currencies, and we are here to harness the fruits of that revolution.
Jump on the Stablecoin Wagon Now
If this guide managed to get your attention and you already feel attracted to the prospect of using stablecoins for your crypto journey, you are right where you need to be. As one of the very best crypto casinos, Cryptorush supports deposits and withdrawals with stablecoins like Tether.
All you have to do is sign up, select USDT as your payment method, deposit, and start enjoying the stable gambling journey. Remember, this is a no-KYC crypto casino, so your anonymity will remain intact at all times.
FAQs
Are stablecoins suited for crypto gambling?
Yes, even though stablecoins have some striking differences from cryptocurrencies, they can still be used for betting deposits and withdrawals. You can even trade with stablecoins on exchange platforms, so there are no differences in their usability.
How fast are transactions with stablecoins?
The speed of transactions depends on the network used. For example, USDT transactions on the ERC-2o network may take up to 30 minutes, depending on network congestion. Nevertheless, using Solana or Polygon may result in the USDT transactions completing in a matter of seconds.
Can I claim bonuses using stablecoins at crypto casinos?
Of course, you can. There are no restrictions on stablecoins as payment methods whatsoever, so any USDT deposit will make you eligible for any casino or sports betting bonus. Just make the minimum required deposit, and the bonus money is all yours.
