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Why Is Tether (USDT) More Preferred Than Bitcoin In Crypto Casinos?

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Coinpedia

Crypto Journalist and Editor of guest articles in CoinPedia. I am also handling Outreach & Partnerships Manager. Contact me: [email protected]

    Aug 16, 2022

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    Living in a digital age calls for modern solutions. That’s why most online gamblers prefer crypto casinos over their traditional counterparts. A crypto casino has much to offer, that goes without saying. Besides, there are different types of cryptocurrencies, among them being Tether and bitcoin.

    While Bitcoin was the first cryptocurrency, many online gamblers prefer Tether instead. Why is it so? We’ll see that in a few.

    The Growing Popularity Of Crypto Casinos

    Online gambling can be exciting as it is rewarding. However, players have always felt limited by the rules surrounding traditional casinos. The good news is crypto casinos have resolved this issue quite efficiently. Below are some of the reasons why crypto casinos are becoming so popular.

    • Financial Privacy – Crypto transactions are rarely traceable. That way, all your gambling activities will be hidden from credit rating bodies, banks, and your spouse too. In a nutshell, players have the liberty to do whatever they want with their money.
    • Low or no transaction fees – While some traditional casinos will lay lots of charges on you, their crypto counterparts won’t. In the latter, you won’t need to pay any deposit fees or credit card charges. And if there are withdrawal charges, they are often negligible. This gives USDT casinos an upper hand.
    • Lightning-fast transactions – Besides financial privacy and low transaction charges, crypto casinos are super fast. All deposits are usually instant. Withdrawals on the other hand are processed in below 24 hours depending on the casino you’re playing at. Therefore, players can get hold of their winnings in a day.

    Why Tether Is More Preferred Than Bitcoin

    Although cryptocurrencies have lots of benefits, price volatility is one shortcoming we can’t overlook. Here’s a good example to help drive the point home. Say you bet $20,000 worth of BTC and win $10,000. If the price of Bitcoin falls such that your cashout is only $10,000 worth, this won’t feel like a win. You’ll have lost $10,000.

    With the ongoing on the crypto market and the bearish trend of volatility, online gamblers have opted for a more sustainable option – stablecoins. Bitcoin is one of the most volatile and unpredictable cryptocurrencies. Stablecoins, on the other hand, are the exact opposite. Don’t get it wrong. The latter can change slightly, but their value won’t float too far from the value of USD.

    Tether (USDT) is the most popular stablecoin. It’s backed by the US Dollar, so you don’t need to worry about its price increasing or decreasing. In other words, USDT’s correlation with the USD will always be 1:1. So, while the value of other cryptos decreases, that of Tether remains constant over time. 

    This kind of certainty makes USDT more preferred than BTC. After all, you can stake whatever amount you want, win and withdraw without worrying about your coins’ value. Perhaps, BTC will stabilize in the future. But now it isn’t, which is why many gamblers prefer USDT.

    Top 3 Crypto Slot Games To Play Using Tether

    If you’re a slots fan who loves cryptos, Tether can be a great coin to gamble with. The good news is that there are hundreds of slot games to play using USDT. Such a wide selection means that there’s enough diversity to meet different gaming needs. Whatever game you like, you can play it for real money using Tether.

    Below are some of the top crypto slot games to try out:

    Aviator

    First on the list is Aviator by Spribe. Built on a curve clash mechanic, the slot game takes online gambling to a whole new level. Aviator is not an ordinary slot game. It has no reels, symbols or even paylines. The game involves an airplane flying up and your work is to cash out before the plane disappears. Nonetheless, cashing out early is as catastrophic as not cashing out at all. This makes the game pretty interesting.

    88 Frenzy Fortune

    This is a standard slot machine with 3 reels and 1 payline from Betsoft. Your main objective as a player is to land 3 symbols on the reel. Sounds simple, right? Unfortunately, there are blank reels that can easily complicate things. From a visual standpoint, 88 Frenzy Fortune goes all out to make the play interesting. It is definitely worth your time.

    Dragon’s Element

    Buckle up for a journey to the Far East, in a region filled with mystical beasts. Played on 6 reels and 4 rows, Dragon’s Element is a 2020 release from Platipus. It is one of the best slots to play using Tether. Here, your main goal is to grab the wealth from these dragons and get out alive. Notably, the game has several interesting features. Try it for free and see if it’s worth your time.

    Tether Vs 3 Other Stable Coins

    If for any reason you can’t access , there are few alternatives. Pax Dollar (USDP), USD Coin (USDC) and USD (BUSD) are some of the options. But how do these compare to Tether? Check the comparison table below.

    USDTUSDCUSDP
    CompanyTether LimitedCentre Consortium (Owned by Circle)Paxos Trust Company
    Founded201420182018
    BackingSame Value AssetsCash EquivalentsSame Value Cash
    LiquidityHighestSecond HighestSlightly lower than USDT and USDC 
    Price Peg to US DollarUSD 1:1 USDTUSD 1:1 USDCUSD 1:1 USDP

    Final Thoughts

    For the lovers of online gambling, crypto casinos can be a game changer. However, cryptocurrencies like Bitcoin make it a risky venture because of their unpredictable nature. Nobody wants to invest in something that can significantly lose value over time. In that case, USDT comes in handy. Tether is a stablecoin. Unlike , its value doesn’t change much. Since it’s pegged to USD, its value revolves around that of USD. This makes it a reliable coin for online gambling.

    Disclaimer: This is a guest post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.

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    Coinpedia

    Crypto Journalist and Editor of guest articles in CoinPedia. I am also handling Outreach & Partnerships Manager. Contact me: [email protected]

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