USD Coin Online Casinos

It is no secret that cryptocurrencies have taken over the online gambling industry, and brand-new digital assets are arriving across online casinos left and right, USD Coin being one of them. But what’s special about this particular cryptocurrency is that it combines the best of the two worlds: the standard, traditional banking and the next-gen banking. This is actually something known as a stablecoin, which offers all the advantages of a cryptocurrency but also the stability of a fiat currency. So, stay with us to learn more about it and you’ll see that it would be a great option for you to use for depositing and withdrawing. What is USD Coin and why use it as your online casino payment method?

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USD Coin FAQs

What is a USD Coin?

USD Coin is a stablecoin that is fiat-currency backed, holding the same value as the US dollar, hence its name. But it is also a cryptocurrency that offers the same perks any other digital asset does, although far more stable and safer to use. It is already available across many online casinos and perfect for depositing and withdrawing.

Are transactions with it irreversible like with other digital currencies?

Considering it is still a digital asset, transactions with it are, unfortunately, also irreversible like with other cryptocurrencies, since it still runs on a blockchain.

Can a transaction with it fail in some way?

The stablecoin can be sent from and to Ethereum-compatible wallets. So, the transaction may fail only if the wallet you're using is not compatible with Ethereum, or if the address of the receiver/sender has been blacklisted.

Do any limits apply I should be aware of?

There’s a minimum of 0.001 USDC and a maximum of 8,500,000 USDC you can send through the blockchain, so these are the limits you should be aware of.

Can I trade USDC for different digital currencies or only to the US dollar?

As a matter of fact, in addition to converting it to USD, you can actually also trade your USDCs with Bitcoin and, of course, Ethereum.

D Coin

USD Coin or otherwise listed as USDC, was created in 2018 by Coinbase and Circle and co-founded by CENTRE, which is an open-source technology organization. These organizations combined forces trying to create a simple digital asset that would help those who don’t have or do not want to use a traditional bank to move money online all across the globe, and those who wish to do it in a cheaper and faster way. They gathered and created a solution that would connect people, businesses, currencies and financial institutions but through an open financial system so that anyone could use it for seamless transactions. That’s how they designed the stablecoin, the fiat currency-backed digital asset, the USD Coin, which has the same value as the US dollar. In fact, one USDC equals one USD, always, and contrary to other cryptocurrencies, its value never fluctuates.

As such, it provides s with the very best of the two worlds: the speed and affordable transactions of cryptocurrencies and the stability of fiat currencies. With it, the volatility and fluctuations usually associated with cryptocurrencies are completely eliminated, but you’re still taking advantage of the perks known with them.

What happens is, the USD Coin runs on the mobile device and a digital wallet to transact with it, and you’d be still able to use traditional financing services, meaning, you’d get the stability you need. This is a programmable dollar, as Coinbase put it, which unlocks new worlds for both businesses and apps.

In August 2021, it was reported that over $20 billion in USD Coins have been minted, making it the second-largest stablecoin, following the footsteps of online casinos. The solution was warmly welcomed by both operators and players across the very best casino sites, so before you choose to go with it, stay with us to learn how to use it.

Types of Services Offered

As we explained, the USD Coins offers the stability of the fiat currency, the USD, and the affordability and speed of cryptocurrencies. So, to get started with it, you would need to have US dollars, a mobile device and an Ethereum-compatible wallet.

So, first things first, you need to purchase your stablecoins. You would need to visit an exchange platform, such as Coinbase. Other options would include Binance, Poloniex and BitFinex, for instance. Let’s say you want to go with Coinbase. Create an with it, providing some essential details about yourself. Connect your existing credit/debit card or eWallet to the , and use as many USD as you want to buy your USDC at a ratio of 1 USDC for US$1. This purchase won’t be subject to any fees!

The next step would be creating an Ethereum-compatible wallet . Just one on your mobile device. Any Ethereum- compatible wallet would do because its ecosystem is enormous. Install the wallet and create your , to then store your USDCs on it. But, you should know here that you can actually store your USDCs on your Coinbase . If you go with that option, you should know that you’ll be getting special perks for it. Except for Hawaiian, all US citizens are getting special rewards for holding at least one USD Coin on their Level 2 verified s. The higher your balance, the better the perks. There’s no need to sign into the Rewards program as you’ll be automatically signed up after you create your Coinbase and hold at least one stablecoin on it. You get your rewards in the first five business days of the following month.

How to Deposit with USD Coin at an Online Casino?

Before we go into the depositing process across online casinos, you should know that the USDC is still a rather new name on the block, considering it was launched in 2018. However, although its glory days are yet to come, you still have a nice number of casino sites that are actually offering it. Look for it across online casino sites that offer cryptocurrencies or crypto casinos, and they’ll certainly give you the chance to use the stablecoin. Explore some options and find a suitable casino for you.

After you ed the casino of your preference, to make a deposit, do the following:

Go to the casino’s Banking Options/Cashier/Payment Methods page.
Find USD Coin’s logo and tap on it.
In the pop-up, use your credentials to enter your Ethereum-compatible wallet.
Specify how much you’d like to have on your online casino balance.
If not already filled, enter the casino’s Ethereum-compatible wallet address.
Just confirm your request, and in an instant, your balance will be funded.

How to Make a Withdrawal

Being a cryptocurrency after all, it should come as no surprise to you that the USD Coin is actually a solution that can provide you with near-instant payouts. As long as you’ve ed a casino that accepts it for deposits, you can rest assured that it will also be available for withdrawals.

To request a withdrawal, go through a similar procedure as described previously for depositing. Only this time, after you specify how much you’d like to cash out, enter your own Ethereum-compatible wallet address in the right field. The casino will take its time to review your request, but as soon as it approves it, you will see your stablecoins arriving on your wallet near instantly.

Country Restrictions and Limitations

Even though the USD Coin is pretty generous to US s, and is quite popular in the States, it is not exclusive to this country only. In fact, as a digital asset, it is available literally to anyone from any place across the globe. That is, any person who has access to US dollars, to purchase their stablecoins. There’s no real country restriction, other than, of course, the fact that some countries forbid the use of cryptocurrency. Only if that’s the case with your country, you cannot use it. Otherwise, if your country does not ban cryptocurrencies, you can rest assured that you’d be able to enjoy all the perks this stablecoin comes with.

When it comes to limitations, you should know that no other fiat currency can be an option for purchasing your stablecoins. As implied by its name, the USD Coin can only be purchased with US dollars, and that’s it. As far as other cryptocurrencies are concerned, you can trade it for Bitcoin and Ethereum, but that’s it. These are your limitations.

There’s no fee when purchasing your stablecoins on Coinbase, but when using the USDC on the blockchain, fees do apply. These fees have increased a bit, due to the fact that the Ethereum blockchain has been overloaded, but if you ETH2 (Ethereum 2.0), you can actually go around these costs.

Advantages and Disadvantages

One cannot ignore how powerful this stablecoin is. Truly, it allows you to take advantage of the stability of the US dollar and still enjoy the benefits all cryptocurrencies come with, the cost-effectiveness and the incomparable speed of transaction. That’s actually its purpose and the main reason why you should consider using it.

It is the perfect payment method to use if you’re one of those players who don’t wish to use it or you don’t have a bank , yet you still want to transact with the US dollar. This stablecoin allows you to enjoy this traditional banking perk, as long as you have a mobile device and an Ethereum-compatible wallet. With it, you’ll be enjoying the US dollar stability and still eliminating the cryptocurrency volatility.

As an online casino player, you would greatly benefit from the fact that the stablecoin is getting accepted across many online casino sites, and it allows you to make instant deposits and near-instant withdrawals. Add to that the fact that it is incredibly affordable and easy to use, and there you have all the reasons you need to choose it.

Sure, being a cryptocurrency after all, transactions with it are not reversible. You would need to be careful when entering the respective wallet addresses and specifying how much needs to be transacted since once sent, the transaction is final, irreversible.

Final Analysis

The USD Coin is truly remarkable. Who wouldn’t want to use it? This is a solution that combines the best of the two worlds, traditional financing and open-source technologies, to provide you with the ultimate option for online transactions. It is the method to be used by crypto enthusiasts who would want to use a digital currency, yet not stress about its volatility. You can use it to make online payments with a US dollar-backed digital asset without even owning a bank ! All you need is some US dollars, a mobile device and an Ethereum-compatible wallet to start using it, and no country restrictions apply either.

Add to that the fact that you can use it for super-quick deposits and withdrawals across online casinos, and you’ve got yourself the ultimate solution to use as your online casino payment method. Whenever you get the chance, at least give it a try, because as soon as you try it, you’ll understand what you’ve been missing.