|fees: Typically low
|purpose: Stablecoin pegged to the US dollar
|security: Proprietary blockchain, cryptographic security
|anonymity: Transactional information may be public, depending on the blockchain used
|scalability: Depends on the blockchain used
|decentralization: Centralized, operates on a proprietary blockchain
|consensus mechanism: Centralized, operates on a proprietary blockchain
|average transaction time: Depends on the blockchain used, typically fast
This material is dedicated to Tether (USDT), the most famous stablecoin. Now it can be successfully used as a payment method at online crypto casinos. Tether has many advantages, including reliability, stability, security, and confidentiality of transactions. In addition, it has a stable value tied to the US dollar exchange rate, which gives USDT an advantage over volatile cryptocurrencies.
In this review, we will tell you about what Tether is, how to use it for payment transactions in cryptocurrency casinos, and what advantages and disadvantages this digital coin has. Also, check out the list of the best Tether casinos that our experts have compiled for you.
What is Tether?
Tether (USDT) is one of the top stablecoins (these are cryptocurrencies whose value is tied to the cost of oil, gold, diamonds, fiat currencies, etc.). It is among the TOP 5 most popular digital coins and is tied to the value of the US dollar.
The main difference between Tether and Bitcoin casinos (and other cryptocurrencies) is that it does not have transaction blocks and is backed by fiat currency reserves. That is, Tether does not have its own blockchain. Ready-made decentralized systems of others are used to implement tokens. You can buy USDT using money transfers to the accounts of Tether Limited.
Now Tether is also used as a payment instrument in online crypto casinos. It guarantees increased reliability, security, and stability of transactions.
How We Choose the Best Tether Casinos
It is important not to make mistakes when choosing the best online casino with Tether. There are several aspects that you should pay attention to in your search:
- See if the gambling site accepts the Tether payment method;
- Read an online review about this site. You will be able to learn a lot of useful information even before you create an account. However, distinguish objective comments from subjective ones, because the latter can mislead you;
- Check if the crypto casino has a license. We recommend playing only on reliable sites that legally provide their services;
- Find out if the site has certificates confirming the integrity of the game on the platform (iTech Labs, GLI, or eCOGRA);
- Find out which online casino offers games from which providers. Reliable developers guarantee the honesty of their games and that the outcome in them is determined by a Random Number Generator (RNG);
- Finally, find out what bonuses are available to new and existing players. Some such Promotions allow cryptocurrency gamblers to receive higher amounts of bonus funds or more free spins.
All these tips will help you choose the best Tether casinos.
Withdrawing at Tether Casinos
When conducting transactions with Tether in an online crypto casino, you must have money in your wallet. Before telling you about the procedure for withdrawing funds using a USDT wallet, study our instructions on how to use it for a deposit:
- Create an account in a reliable online casino;
- Go to the Banking section;
- Select the Deposit tab, and then click on Cryptocurrencies;
- Choose the Tether payment method;
- The casino will give you the address of access to your wallet (public wallet number) — that is, a random set of letters and numbers. Copy this address and paste it into your digital wallet;
- Enter the transaction amount and confirm it.
Now you just have to wait for the funds to be credited to your online casino account. Usually, the transaction is executed instantly. At most, you will have to wait up to 30 minutes.
If you managed to win money and you would like to withdraw from an online casino, then you can comfortably use the Tether payment method for this:
- Log in to your account on the gambling site by entering the data specified during registration;
- Go to the Banking section;
- Select the Withdrawal tab;
- Enter the public wallet number of your cryptocurrency wallet in the special field;
- Specify the amount you would like to withdraw from the site;
- Confirm the transaction.
The funds should be credited to your wallet immediately, but sometimes there were cases when it took up to 24 hours to process and conduct a transaction.
Safety and Security
Cryptographic transactions are considered the most secure and confidential among the payment methods used in online gambling. This is due to the use of encryption and blockchain technologies. Tether guarantees the highest degree of safety and security of balance replenishment and withdrawal operations. In addition, all transactions using this method are legal under current US law.
We recommend that you also take care of the security of your funds yourself, because USDT guarantees you the reliability and protection of money, but the human factor is always a risk factor. The safest way to store any cryptocurrency is “cold” wallets. These are physical devices that look like a USB flash drive and do not require Internet access. They provide the maximum level of protection, and operations on them are safe. Hackers and other fraudsters will not be able to access digital coins located on an offline device.
You can also use mobile, browser, online, and desktop wallets. The most reliable option of them is the desktop. The most comfortable to use is mobile. Browser wallets and online ones are the most unreliable because hackers sometimes hack not only payment systems, small resources, and websites, but also large exchanges. Losses can be significant.
Pros and Cons
Using the Tether casino payment method, you can enjoy several advantages of this option, which allows you to count on high-quality transactions. Also, pay attention to some disadvantages of USDT.
- The highest level of security;
- Quick deposits;
- The legality of use;
- Anonymous transactions;
- Low to no fees;
- No fluctuation in value.
- Not all online casinos support this payment method;
- The value will not increase.