Tether Online Casinos
Online gambling and cryptocurrencies have gone hand in hand since the launch of the first digital coin. While this brought tons of positives into the then-stagnating casino scene, it also came with negative attention. Cryptos weren’t revered as a quick and easy payment option when they first debuted. Most people didn’t understand the technology, were afraid of their instability and were weary of their shady reputation. Thankfully, things have changed drastically in the last decade, and options like Tether are now top choices for venues worldwide! It’s not hard to see why. The token has quickly surpassed most of the issues people had with crypto back in the day and offers incredible features to support the online gambling journey. If you’re hoping to learn more about it, up next, we’ll explore what makes this coin so special.
Tether is one of the most popular cryptocurrencies on the market right now. The token launched in 2014, and from the start, it had a pretty clear goal. Instead of going the traditional crypto route, this token has taken the journey of a stablecoin. Essentially, this means that the usual issue of volatility isn’t something you have to worry about. Since the currency is pegged to the US dollar, its value has stayed relatively stable over time. What’s better, it’s kept to this system longer than some of the other coins with a similar mission. For players that want all the perks of crypto without worrying about massive highs and crippling lows, this option can feel like a fiat currency that simply stepped into the digital space.
Another interesting fact about Tether is that its coin isn’t chained to a personal network. They’re issued on the Ethereum and Bitcoin blockchains. Users can find them on various exchanges, but they’re often in support of the coin from a single source. Some only allow Bitcoin-based Tether coins, while others support the Tether-based ones. This might seem inconsequential for newbies, but it’s worth remembering if you intend on purchasing tokens. Another thing related to how the coin is issued is the lack of mining. The coin isn’t staked or mined. The company behind the cryptocurrency, Tether Limited, issued new coins that users can purchase. The money from these sales goes towards the reserves to later create new coins for future users!
To end this Tether introduction, we’d like to go over the pros and cons of using the token. Besides its stablecoin status, the token carries all the staples of a cryptocurrency. It offers instant transactions, anonymity, and aplatform that’s easy to navigate. It’s hard to find a con with this digital coin, but the one con we have to mention is the controversy surrounding it.
Unfortunately, Tether Limited hasn’t been the most transparent about its operations. Claims of the coin being back at 1:1 crypto-to-fiat turned out to be oversold, and the company has made some unsettling statements about the rights of Tether owners when conversions into dollars come into play. A few safety issues were also brought up in 2017 after a hard fork for the currency was initiated. Things were resolved after some time, but due to these scandals, the token isn’t viewed as the safest crypto option you can go for.
How to Start Using Tether
Tether might be popular in the crypto circuit, but generally, it still has a ton of growing to do. Before we proceed to how to use the service, it’s best if we note that it’s somewhat scarce in the online space. Sure, it might be doing better than most newer cryptocurrencies, but it’s not as widely accepted as top dogs like Bitcoin, Litecoin, Dogecoin, and Ethereum. It’s available in a limited number of online casinos, so you might need to dig deep to find an excellent venue that supports Tether payments.
Now, before we list the ways one can obtain the token, it’s important to talk about the ways you can’t. As we briefly mentioned, Tether isn’t a cryptocurrency you can mine. The company issues new coins as needed, so buying them is the straight-laced option. If you happen to run into websites, exchanges, or other platforms that claim you can mine the token, beware of them. These sites are most likely scams, or in the best-case scenario, they’re not well-researched.
Now that we’ve covered that issue, we can move on to some fun ways you can get your hands on this token! At the moment, crypto games and crypto freelancing are on the rise. Many platforms that offer these services support Tether, so if you find the right ones, you have two interesting options to try. Crypto games are likely what you’ve imagined. They’re fun games and apps that can earn you crypto by completing various in-game tasks and missions. They’re almost always a good time, but the crypto payments you get from them are relatively small.
The other rising option we mentioned is crypto freelancing. As you probably know, the gig economy is booming right now! If you have some in-demand digital skills like coding, web design, and graphic design, it should be easy for you to snag an online job that pays in crypto. Other skills, such as writing, voice acting, and translating are also pretty needed on these platforms, so you can try your luck with them too. These platforms operatesimilarly to some of the best traditional freelancing platforms, so you can expect tons of variety, and of course, better pay than what you’ll see with crypto games.
Finally, we’ve reached the best way to get your hands on Tether, crypto trading. Purchasing some tokens is the easiest way to obtain this currency. Since it’s grown to become a top-performing cryptocurrency, it’s available across many exchanges, including Binance, Kraken, Coinmama, Bitpanda, and others. The name of this process gives everything away. Essentially, you can trade in fiat currencies or other cryptos for Tether. It’s also worth noting that you’ll need to get a crypto wallet to store your coins once they’re in your possession. Some of the exchanges we mentioned can double as a crypto storage space, but a dedicated wallet app is a much safer bet overall.
Now that we’ve covered nearly all bases, we can move on to using Tether in the online world. To purchase the token, you’ll need to select the corresponding option at checkout and enter the correct amount. The amount can sometimes be applied automatically depending on the site, so you can leave that be if it’s implied. Next, you’ll be asked to enter your crypto wallet ID or scan a QR code. When you complete this step, you’ll receive a confirmation request through your wallet. Confirm the request and you’re all done!
Depositing and Withdrawing With the Solution
Depositing with Tether is a quick and easy process, but you might want to take some time with the step that comes before it – choosing a casino. Tether isn’t accepted in as many online casinos as some players might like, but the options available are diverse. Before you choose one, we suggest checking the licenses for the operators to ensure maximum safety. It’s also a good idea to read a few expert reviews to better grasp its offer. Now that that’s covered, here are the steps you need to follow to deposit with the token:
- Head to the casino’s Cashier/Banking/ Payment Methods page and find the Tether logo.
- Click on the logo, and once prompted, enter your wallet ID or scan the QR Code.
- Enter the desired deposit amount and confirm the transaction.
- The money will be transferred to your online casino balance instantly!
Withdrawing through Tether is also a simple process. It’s very similar to depositing, so you follow the same instructions listed above, with a slight change in the third step. Here, make sure to enter the desired withdrawal amount instead. The good news about withdrawing through the token is the fast processing speeds. While most traditional payment options take a few days to process transactions, this one is instant! You only have to wait for the casino to approve your withdrawal request, and once it does, the cash amount will appear in your balance in seconds.
Coverage and Restrictions
Discussing the coverage and restrictions in different parts of the world is a tricky thing when cryptocurrencies are involved. To make things easier, it’s best to group Tether in the same category as other cryptos. With that taken care of, crypto support is still very controversial. Countries worldwide have a hard time agreeing on whether crypto is a positive or a negative addition, and much of it is due to its shady past and novelty. When looking at crypto laws and regulations, it’s best to judge on a country-to-country basis.
To give you an idea of the diversity of crypto acceptance, we’ll give you the approach of a few countries as an example. China and Egypt are territories where crypto is unwanted. Its use is banned, and there are strict punishments for crypto users. On the other end, you’ll find countries like El Salvador and Malta. These territories havelegalized crypto and use it to boost their economies! Of course, most countries are somewhere in the middle. The UK, for example, doesn’t ban crypto and crypto gambling, but it has imposed strict laws and regulations about its use.
Fees and Additional Charges
Tether itself doesn’t impose any fees on its users. While this is excellent news, there is some bad news to consider too. Most exchanges will charge a fee for purchasing the token. These can vary between platforms, so it’s best to research the different options beforehand to ensure you’re getting the best deal. The same goes for crypto wallets. Many of these apps charge maintenance fees that can be a bit annoying in the long run. While some of them are free, they tend to lack some additional features.
Tether itself is a currency, so this part may seem redundant. Of course, we can’t waste the opportunity to provide some much-needed info that can help users out. When obtaining the coin, you’ll likely need to trade a different currency at an exchange. Most of these platforms support popular options like the US dollar, euro, and UK pound. With these options, some currency conversion fees may be avoided. They also support some top-tier crypto options. These often include Bitcoin, Ethereum, Bitcoin Cash, and Litecoin.
Unfortunately, users won’t find a dedicated Customer Support option for Tether. While this is a massive bummer, the coin’s official website is full of much-needed information about the token that can help you understand it better. If you run into issues when depositing or withdrawing with Tether in online casinos, it’s best to contact the operator’s Customer Support team. In most cases, casinos have a representative on standby around the clock. They’re usually friendly, professional, and ready to help you get to the bottom of the issue as promptly as possible.
Tether is undoubtedly one of the most beneficial payment options online gamblers can choose these days. The cryptocurrency offers all of the staples of using cryptos, such as speed, anonymity, and a convenient platform, but isn’t tied to the volatile nature most other tokens possess. It’s an excellent platform with massive potential for growth, but it does come with a few weaknesses. Its many controversies put its security in question, and its availability is somewhat scarce at the time of writing.
Is Tether safe?
Like most cryptocurrencies, Tether grants users anonymity, giving them an excellent layer of protection from the get-go. While this is true, the company has been through many controversies in the past, so it doesn’t have the best reputation.
Are transactions instant?
Yes, tether deposits and withdrawals are instant. Still, it’s good to remember that a waiting period might be put in place from your chosen casino’s end for processing withdrawal requests.
Is Tether legal?
That depends on the country you’re in. To check the legality of Tether and Tether gambling in your area, it’s best to go over the appropriate laws and regulations on official government websites.
Can I mine Tether?
No, Tether can’t be mined. If you run into a service that claims otherwise, it’s most likely a scam.
How can I obtain Tether?
There are several ways to get your hands on Tether, including crypto gaming, crypto freelancing, and crypto trading. The last option is the simplest one, as all you have to do is purchase the tokens from an exchange.