Jump to content
  • Search By Tags

    Type tags separated by commas.
  • Search By Author

Content Type


Categories

  • Games

Categories

  • Payments

Categories

  • Licenses

Categories

  • Casinos

Categories

  • Languages

Categories

  • Currencies

Categories

  • Countries

Categories

  • Bonuses

Categories

  • Regions

Categories

  • Software

Categories

  • Video Poker Games

Categories

  • Craps Games

Categories

  • Roulette Games

Categories

  • Baccarat Games

Categories

  • Blackjack Games

Categories

  • Poker Games

Categories

  • Keno Games

Categories

  • Bingo Games

Categories

  • Fixed Odds Games

Categories

  • Slots

Categories

  • Themes

Categories

  • Sub Themes

Categories

  • Series

Categories

  • Progressive Jackpots Games

Categories

  • Other Games

Categories

  • Payment Methods Types

Categories

  • Auditors

Categories

  • Platforms

Categories

  • Guides

Categories

  • Casino Games Pages

Categories

  • Online Gambling

Categories

  • Promotions

Categories

  • Game Release
  • Entertainment
  • Industry
  • Technology
  • Opinion
  • Community
  • Big Wins
  • Legality
  • Interviews

Categories

  • Casino Bonuses

Categories

  • Progressive Jackpots

Categories

  • Blog

Categories

  • U.S. States

Find results in...

Find results that contain...


Date Created

  • Start

    End


Last Updated

  • Start

    End


Filter by number of...

Joined

  • Start

    End


Group


Showing results for tags 'stablecoin'.

Sort By:
 
Found 2 results
  1. With decades of experience in the online gambling industry, we have seen some incredible changes and innovations. Experiencing the evolution from simple table games to stunning video slots, the rise of live casino gaming and, eventually, the transition to blockchain gaming has been mindblowing. We even remember when the most significant decision you had to make was whether to make your first deposit when claiming a welcome bonus via a credit card or this crazy new development called a web wallet. One of the most impactful human creations since the internet is the blockchain. Without it, we would not have cryptocurrencies and the doors they have opened for new business opportunities and restriction-free international online gambling. Despite an increasing understanding and adoption of the blockchain and cryptocurrency, one sticking point for many ‘hodlers’ is the difference between decentralised cryptos and stablecoins. Join us as we explain the differences, discuss what separates them and lay out a guide for choosing the best option for your crypto-gambling needs. What is a Decentralised Token? When Satoshi Nakamoto first created the Bitcoin (BTC) concept, he aimed to give people back economic sovereignty. The idea was to create a new form of currency that existed solely on the blockchain. Any single government, corporation, or individual could not control this new cryptocurrency. Instead, those who chose crypto would determine its value, how it was used, and how it would be stored. It was the financial version of democracy where the idea of “for the people, by the people” would finally ring true. Holistically the concept he created is called Decentralised Finance (DeFi), of which decentralised tokens like Bitcoin are its units of measure. As anyone who has watched BTC's market fluctuations will know, the cornerstone of this type of coin is that its market value depends solely on the community's perception and its willingness to invest. This does, however, mean that Bitcoin prices are prone to wild spikes and drops as investors respond to scarcity scares, FOMO (fear of missing out – significantly when prices increase) and general market bias (interest rate hikes in the US cause BTC prices to rise as investors shift their cash from the dollar to crypto looking for a safe haven from rising costs). What is a Stablecoin? While a stablecoin also exists on the blockchain and is therefore defined as a cryptocurrency, it is the antithesis of Nakamoto’s plan for a self-governed economic system. Following fiat currencies’ footsteps, stablecoins have their market value linked to a real-world currency, precious minerals, or another tangible asset. One of the most well-known stablecoins is Tether (USDT) which has its value linked closely to the US dollar. When transacting online with USDT, you are guaranteed that 1 USDT will be worth $1, making it a far safer digital coin for day-to-day business than a decentralised token like BTC, which can change its value by hundreds of dollars in a few minutes. February 2023 also saw the first Euro-backed stablecoin hit the market. The European-facing stablecoin named Euro Coin (EUROC) aims to offer continental online businesses a functional digital currency that allows them to do business without concern for conversions between USD and EUR. Countries looking to create central bank digital currency (CBDC) versions of their fiat currency are using stablecoin technology. The plan is for many countries to introduce digital versions of their local currency to reduce the costs associated with minting, allow more opportunities for the unbanked, and improve overall transaction and processing speeds. How Do the Two Differ in Practical Terms? When determining which form of cryptocurrency is best suited for your needs, it is helpful to understand their polarising points. Here is how decentralised tokens and stablecoins differ from one another: Volatility: Bitcoin and other DeFi tokens are prone to significant swings in their values. This can make them challenging to use for gambling when looking to practice responsible, budget-driven gambling. Cost of Transacting: While DeFi and stablecoins are processed on the blockchain, current evaluations show stablecoin transactions are cheaper. According to a NASDAQ review: “Transactions using stablecoins can cost as little as a fraction of a penny, regardless of value, and are typically processed in a matter of seconds.” Transaction Speed: Given their limited scope, stablecoin transactions are faster than decentralised tokens. The faster speeds and lower costs make them an excellent starting point for new crypto gamblers. Token Liquidity: Decentralised tokens are traded far more frequently and, therefore, have higher liquidity. This makes them easier to convert into other cryptos or fiat currencies. Privacy and Anonymity: Nakamoto’s vision for a self-governed global crypto economy had user anonymity baked into its foundation, whereas stablecoins are run by corporations and banks and require full user identity disclosure when signing up. Financial Risk: Stablecoins are risk-averse due to their pegged values. It is the digital equivalent of putting money under your mattress. Freedom: At its core, Bitcoin is about freedom from government oversight and market manipulation. Decentralised currencies allow users to determine how they use their wealth. Market Adoption: Decentralised tokens have been available longer than stablecoins, so there is more opportunity to use them for entertainment and business. Secure Value: As the name suggests, Stablecoins provide users access to a digital currency with relatively stable market value, making it easy to manage and use for daily online transactions. Existing Ecosystems: Given the time invested in understanding, monetising, and protecting valuable coins like Bitcoin, the DeFi space offers an extensive suite of tools, wallets, services, and infrastructure aimed at making its use as easy and safe as possible. Once you have a clear picture of which coins offer you the tools and infrastructure you want, the next step is understanding your personal crypto needs. Choosing the Best Crypto for Your Needs To simplify everything we have covered so far, all digital financial tokens on the blockchain are cryptocurrencies. What separates decentralised tokens from stablecoins is whether a single entity owns them. When it comes to choosing the best crypto for online gambling, it comes to: Your appetite for risk – playing a decentralised coin like BTC comes with the risk of major market fluctuations. Cashing out crypto wins as the value per token increases is a bonus, but the opposite is also true. The size of your gambling budget – players with budget constraints might find stablecoins more appealing as the association with a fiat currency makes it easy to manage. How you want to use crypto – if gambling online is only one part of how you use crypto, you will be more likely to wager with DeFi. However, stablecoins might be best if you only buy tokens to play online. How tech-savvy you are – securing precious decentralised tokens means using multiple non-custodial wallets like Exodus or even investing in cold wallets (USB-type devices that store crypto offline). On the contrary, small amounts of stablecoin can be left in your casino account with little concern for their security. Your local regulations – many countries are still defining their online gambling and cryptocurrency laws. Choosing the right crypto-type and online gambling platform is essential when navigating these real-world regulations. We recommend reviewing these factors before choosing which type of token to invest in, as it will have a financial impact and require you to become familiar with new concepts and technologies. How to Choose the Best Crypto Casino! To help you get started in your crypto casino journey, we have handpicked three gambling sites that we recommend reading up on and joining if you like what you see. ✓Bitcoin Games Casino (5-star rated) Bitcoin Games is the official online casino of the marketing leading cryptocurrency Bitcoin. Signing up with this highly-rated crypto casino will give you access to over 2300 casino games, which you can enjoy on your desktop pc or mobile device. You will also be eligible for a welcome bonus of up to 1 BTC! DeFi Currencies: Bitcoin, Bitcoin Cash, Ethereum, XRP Ripple, Litecoin, XLM Stellar Stablecoins: Tether, BNB Binance Coin Visit the Bitcoin Games Casino page to read the full review and learn more about the bonus offer. ✓1xBit Casino (5-star rated) This Curacao-licensed crypto casino is incredibly popular with the GamblersPick community, garnering it a five-star review. The site features more than 2000 high-quality casino games, a total of 30 DeFi and stablecoins, and an incredible bonus of up to 7 BTC! DeFi Currencies: Bitcoin, Bitcoin Cash, Ethereum, Dogecoin, Litecoin, Dash and many more. Stablecoins: Tether, TrueUSD, USDCoin and more. Visit the 1xBit Casino page to read the full review and learn more about the bonus offer. ✓Kosmonaut Casino (5-star rated) Established in 2020, this beloved crypto gambling site offers players more than 2000 casino games, 6 crypto banking options and a lucrative bonus which comes with an additional 100 Free Spins. DeFi Currencies: Bitcoin, Bitcoin Cash, Ethereum, Dogecoin, Litecoin Stablecoins: Tether Visit the Kosmonaut Casino page to read the full review and learn more about the bonus offer. We take great pride in reviewing the best online casinos in the world and highlighting those that would make a great starting point for selecting where to join next. For more options, feel free to browse our full list of cryptocurrency casinos.
  2. The world of finance, investment and technology was irrevocably transformed with the invention of blockchain technology and the subsequent development of cryptocurrencies. For the first time, the world was offered a new way of storing data, securing information, and transacting that did not rely on the existing system that put the power and most of the profits in the hands of middlemen. As blockchain adoption grows and the general populace begin to understand the pros and cons of cryptocurrencies it is becoming apparent that a daily digital currency is needed, and stablecoin could very well be the answer. Clarifying What Stablecoin Is Stablecoin is the future of global monetary systems are they represent the best use of blockchain and crypto-technology while offering countries a stable digital currency devoid of the fluctuations prevalent in decentralised investment currencies. YouHolder clearly defines this new variant of cryptocurrency as: “A stablecoin is a currency pegged to another asset and acts as a practical way of using cryptocurrencies while being stable, secure, and convenient for transactions avoiding the highly volatile nature of traditional cryptocurrencies.” By building a daily use token on the same security, provability, and smart contracts as Bitcoin, Ethereum and Dogecoin a country can seamlessly convert its paper money into a digital version that retains its local commercial value but offers far more benefits and security to the user. What Collateral Secures Stablecoin? The stability of stablecoin tokens is ensured by basing the value of the coin on one of the following asset types: An existing fiat currency – Simply put these are virtual currencies that base their value on a one-to-one exchange with an existing fiat currency. An example of this would be the Digital Dollar where one Digital Dollar is worth one US dollar. Precious metals – These stablecoin tokens base their value on the store of precious metals like gold and fluctuate their token value based on the price of a predetermined mineral. Other cryptocurrencies – While this is less common there are some tokens that base their value on the value of the cryptocurrency platform they are built on. This is seen with stablecoin’s using the Ethereum platform. Collateral free coins – Coins that become official government tender would fall into this category. These tokens are not valued based on a fiat currency or asset but draw their value from being the Central Banks monetary offering for that country. Why Bitcoin is Not a Stablecoin The reality of this new technology is that decentralised investment products such as Bitcoin, while they hold the allure of a modern-day gold rush, are not able to effectively function as a day-to-day transaction method. This is due primarily to the extreme volatility of Bitcoin and its peers, volatility which is driven by limited supply and the impact of public opinion on its perceived value. It is this low volume and reliance of market opinion that allows Tweets by Elon Musk to crash Bitcoin’s value by 30% in a single day. Stablecoin, however, combines the technological benefits of crypto-technology with the inherent stability associated with a centralised currency backed by a tangible asset such as gold, art, or even a fiat currency like the US dollar or Euro. Stablecoin is the Future of Global Economies At present there are several countries that are invested in launching a digital version of their local currency to advance the adoption of this new technology: Dubai – While Dubai does not consider Bitcoin legal tender it has launched its own cryptocurrency, DubaiCoin (DBIX). DubaiCoin is expected to become the regional method of transacting both locally and globally, with Dubai intending to become the “first blockchain-powered government”. America – The non-profit Digital Dollar Project is testing several programs over the coming year to help the country launch its Central Bank Digital Currency. It will become the official form in which the Centra Bank issues money to citizens and for trade. China – The Chinese government is rolling out the Digital Currency Electronic Payment (DC/EP) system, which is essentially a digital Yuan. The project is Beijing’s attempt to protect their “currency sovereignty and legal currency status” while creating a trade environment not dominated by the US dollar. Russia – The Digital Ruble prototype is set to launch late in 2021 and based on user and central bank feedback is being eyed to become Russia’s primary currency within three years. India – While India is aggressively anti-Bitcoin, the Reserve Bank of India (RBI) announced that it is currently developing an official digital currency for the country which will be regulated by the central bank. The pressing need for many countries is to facilitate buying and selling on a micro and macro scale without the need for paper money. There are several reasons for this need including secure trading in a world where hacking and digital theft are commonplace, instant international financial transactions, massive reduction in the cost of local and international banking, tracking, and reporting on all transactions on the network, being able to move away from maintaining a physical cash ecosystem and finally the health benefits of contactless transactions in a post-Covid world. How Can You Use Stablecoin in Daily Life While country-level currencies are a high-end use case for stablecoin technology here are some of the day-to-day uses of this unique token: Paying your rent and buying groceries Sending money overseas to family Easily paying for goods when travelling abroad Legal gambling in regulated markets Investing locally and internationally Paying for medical costs Given how the blockchain works it would also be possible for transacting with an approved central currency to mine the blockchain for cryptocurrencies. Rather than the current interest system using the network would reward you with more crypto. Cryptocurrencies and the Environment The surge in value and subsequent interest in cryptocurrency led to concerns over the environmental impact of the technology. Primarily concerns have centred around: Increased drain on electrical grids Burning through large quantities of fossil fuels Massive volumes of carbon emissions To put some of these concerns in perspective, Bitcoin mining alone uses more electricity in a year than the whole of the Netherlands for the same time period. While this negative attention did cause a dramatic decline in cryptocurrency values it has also been the driving force behind the mobilisation of crypto miners in pursuit of sustainable and renewable crypto mining. This initiative is being spearheaded by Elon Musk (Tesla) and Michael Saylor (MicroStrategy) who formed the Bitcoin Mining Council with the intention of addressing “climate issues and decentralisation”.
Important Information
By using this website, you certify that you are over 18 years old and acknowledge that the site uses cookies in accordance with its Privacy Policy to improve experience.

×
Start playing now at our top recommended casinos!

You've been idle for 60 seconds.

Start playing now at our top recommended casinos!

. . .
Don't show this again