Sunday, November 27

Why Use Tether for Crypto Gambling?

Crypto

You can use crypto for gambling, and there are many websites and apps that let you do so. You need cryptocoins to make the best in such cases, and most people choose to work with Bitcoin. It’s not your only option, but it’s the most obvious and among the most beneficial coins to gamble with.

There are, however, better alternatives. Tether might be one of the better coins for a bitcoin casino, which might be slightly confusing for you if you know what this currency is. But it’s actually brilliant in many ways. The only trouble is finding providers that let you bet on Tether.

Some Background

Tether, also USDT, also USD Token – is a cryptocurrency, pegged to the value of the US Dollar. It does its job excellent in that it projects the same value as its namesake fiat currency, but with all the wonderful advantages of being a cryptocurrency. This fact alone is why some people love it so much.

It’s become very popular in the crypto world as of late – not least because it’s one of the few cryptocurrencies that doesn’t fall in value. In fact, it doesn’t grow either (if you compare it against USD). It makes it excellent for transactions, inner Blockchain use and other tasks that require constant, stable value.

Why Tether?

Using Tether to bet on a bitcoin dice game or other crypto games is beneficial in a very similar way. Your coins don’t lose value in the process. Even in the better times, coins could rise or decline, which changed the worth of your payoffs. It was also a sort of gambling, but it doesn’t work as well anymore, now that most coins prefer falling.

It’s not really that important either unless you want to keep the coins you won instead of redeeming them for fiat money. If you buy, bet and sell the coin on the same day, you’ll lose very little value. But Tether actually eliminates the extra steps and allows you to buy a larger supply of coins knowing that they’ll retain their worth.

So, you can just hold onto your winnings indefinitely, because you’ll basically hold onto Dollars. But what’s more, you’ll be able to redeem these coins for USD at any time, seeing how they remain on the same level. The changing value of the USD is another topic entirely.

USDT Providers

The only problem is that Tether is that most crypto games use Ethereum or Bitcoin. There are plenty of providers that support Tether and offer games that accept USDT as payment, but some of the bigger companies may ignore it.

Places like BCGame, RocketPot, and CloudBet have cool crypto games that run on Tether. There are many more than just these three. Using Tether as betting fuel isn’t really a novel idea – it’s just that many more providers and games utilize Bitcoin & Ethereum, while Tether is massively overshadowed.

But even big casinos often support Tether, because it’s actually a rather valuable and successful currency. There will be fewer games that accept these. Plus, some casino providers don’t even have good sorting features to let you narrow the games down to a currency you need. But it is very possible to use USDT reliably.