How the Volatility of Cryptocurrencies Affects the Crypto Casinos
A quite common attack on cryptocurrencies is that they must be worthless as money because they have too much volatility. If an asset’s value is highly volatile, it is less likely to be adopted as a unit of account, which is one of the properties of money.
However, it should not significantly affect its chances of being used as a medium of exchange. Even today, most crypto transactions are settled in US dollars; in these transactions, cryptocurrencies are used as a medium of exchange, while US dollars are used as a unit of account.
However, it should be emphasized that in these transactions, the dollar has no role. Currently, crypto coins are exploring a new area, in which it is used as a medium of exchange, but as of now, it is used as a unit of account. In this case, the attraction of cryptocurrencies will increase, and in any case, high volatility in a fast-growing process cannot be used as an argument for the claim that cryptos are worthless. This is only a sign that the crypto market is in its infancy.
Using these crypto tokens, gamblers can make deposits and withdrawals to believe that the price will not fluctuate. Basically, they serve the basic purpose of digital currency without causing users pain without instability.
Crypto casinos use blockchain technology to run all campaigns to balance player satisfaction and house earnings. These casinos offer unique blockchain-based games that offer reasonably appropriate capabilities. Thus, players can verify the integrity of the algorithm used to determine wins and losses. Since no intermediary is required for any service aspect, the game is also known for offering a lower house edge.
An Overview of Stable Coin Gambling
Stablecoins have become an increasingly important category within the blockchain/DLT landscape. Stablecoins with low volatility can allow for more everyday use cases – payment, exchange, storage of value, etc.
Stablecoins can be used to include other currencies (i.e., US dollars), other cryptocurrencies – or even commodities, such as silver or gold. The majority today is pegged to the US dollar. Each works almost similarly to protect and preserve its value. Stablecoins are exceptionally popular due to their decentralized nature and stability. They are widely adopted in public use cases like capital, transactions worldwide, online retail businesses, gaming, and much more.
One of the most secure betting sites, Cloudbet, has recently expanded its offerings to accommodate MakerDAO’s DAI for the currencies available to its customers. The expansion comes amid stable coin and increased interest in Argentina and South America.
Cloudbet has recently unveiled a country-specific site to help Argentina learn more about cryptocurrency betting. It focuses its attention on the education of the player, especially about cryptocurrency.
The operator’s move to South America is to increase its customer base. Cloudbet launched its site again in April with a range of new features, including new currencies, esports, politics betting, virtual sports, and easy credit-card coin purchases. Read our exclusive review post of Cloudbet to know more about its offers and promos.