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What is the USDC?
USD Coin (USDC) is a stable coin backed by the US dollar. 1 USD Coin may be redeemed for $1.00 at any time, providing a stable price. In addition, customers holding USD Coins on Coinbase may get incentives for each.
Each USDC is supported by a single US dollar held in a bank account. USD Coin may be kept in an Ethereum wallet, such as Coinbase Wallet because it is an Ethereum token. USD Coin is a cryptocurrency that allows you to transfer funds from your crypto wallet to other exchanges, organizations, and individuals worldwide.
What games can I play on a USDC Casino?
Crypto casinos have a diverse selection of games, with hundreds to pick from. Most USDC casino sites, for example, provide the same games as fiat currency casino sites, such as slots, poker, and roulette, but with more variations. In addition, some casinos will have live table games where you may wager in USDC.
When looking at live games, make sure you understand if the casino will accept live wagers in USDC or whether they will first convert them to their equivalent in Bitcoin or cash.
Crypto casinos that take USDC provide a choice of provably fair games and regular games. A provably fair game is a cryptocurrency casino game that allows consumers to audit the Smart Contracts that operate it, enabling complete transparency into the game's odds and fairness.
Provably fair USDC poker, blackjack, and roulette are among the provably fair USDC games accessible online now, as are more inventive blockchain casino games like dice or crash.
Some of the most recent provably fair games that customers may play on crypto casinos with USDC include:
And many more, including dozens of Slot games and several Baccarat variations.
How to deposit
Depositing USDC into an online casino is simple and almost identical to Bitcoin or Ethereum transactions. You'll need a wallet address to send USDC to a crypto casino, often offered inside the platform's wallet, cashier, or banking area.
Begin a new transaction, then copy and paste the address and the amount you want to put into your wallet. You should be able to check that the transaction was successful within a few minutes. Most crypto casinos will not impose a minimum deposit amount unless it is required to qualify for deposit bonuses.
Make sure you're depositing to a wallet that accepts USDC. Depositing a currency to a wallet address incompatible with that coin, such as USDC to a Bitcoin address, will result in a permanent loss of money. Also, remember that because USDC is an ERC-20 token, you will need an Ethereum balance in your private wallet to transmit it.
Furthermore, it is uncommon for crypto casinos to impose deposit fees; instead, you are more likely to see a transaction fee charged from your wallet or exchange.Currently, gamers may make deposits via various methods, including:
How to withdraw USDC
Withdrawing USDC from a casino is the same as depositing — simply reverse the process and send the USDC back to the exchange from whence it was obtained. Then, enter your wallet address and the amount you want to withdraw into the box supplied by your casino.
Even though it is uncommon, keep looking for any withdrawal or gas costs from the casino or exchange. Check to see whether there is a minimum withdrawal amount. Finally, while crypto transactions may be processed rapidly, some casinos may require additional time to validate withdrawals; in these circumstances, you may have to wait up to 48 hours.
Most exchanges, including Coinbase (which shares the same parent company as USDC), offer simplified buy/sell functionality that allows users to instantaneously sell USDC for USD or other fiat currencies as soon as it is received.
So, for example, a bettor may transmit USDC from a crypto casino to an exchange and sell it for fiat cash in less than 10 minutes.
What you need to know about using USDC to play online
USDC is the most stable cryptocurrency on the market and is relatively simple to use. However, here are a few things to remember when gambling:
- Anonymity: USDC is not anonymous. In contrast to privacy currencies like Monero, it is feasible to establish who owns USDC when moving cash from an exchange to a crypto casino.
- Fees: USDC transactions are quick and inexpensive, with transaction fees as low as a few cents. Some crypto casinos may charge a deposit fee; however, this is uncommon; it is critical to check for deposit costs before depositing.
- Safety and trust: Transactions in USDC are irrevocable. Before joining a crypto casino, you should research its reputation.
Choosing the best USDC Casino
Many exchanges enable you to acquire USDC; our current choice is Coinbase, which is available in most countries and lets users buy USDC with a Visa or Mastercard debit or credit card. See Coin Clarity's guide to crypto exchanges for a comprehensive overview of the most recent and top crypto exchanges.
USDC is now a popular cryptocurrency that ranks second only to Tether (USDT) as a 1:1 USD-backed stablecoin. This stablecoin provides the steadiness of fiat money, allowing users to escape the volatility that is typically associated with cryptocurrencies.
Many online casinos that accept cryptocurrency deposits will provide USDC as a banking option. However, there are numerous crucial elements to consider while evaluating these casinos:
- Sign-up incentives and bonuses.
- Fast and secure payouts.
- Customer service and live chat assistance.
- Reputation and dependability.
The finest USDC casinos should meet the criteria listed above while also offering a diverse array of games. A current list of the greatest USDC casino sites can be found in the table at the beginning of this post.
Why is USDC gambling worthwhile?
If you are new to the world of cryptocurrency casinos, USDC is an excellent choice for you.
In many respects, cryptocurrencies are similar to gambling: because coin prices change so wildly, there is always some risk and chance involved.
Add to it the randomness of casino games and the unpredictability of athletic events, and you have a volatile concoction fit for extreme adrenaline seekers!
Of course, if you have a firm grasp of currency swings and the financial market, that's even better! Playing with USD Coin over fiat currencies, just like any other cryptocurrency, allows for:
- Secure transactions.
- Payment secrecy.
- Payments are made quickly and decentralized.
The advantages of USDC in crypto casino gambling
The value of cryptocurrencies such as Bitcoin is determined by a strictly restricted quantity, expended resources, and technological characteristics. In the case of the USD Coin, the exchange rate is set, and the supply exactly matches the USD reserve reserves. Therefore, one unit of cryptocurrency is always one US dollar.
With USDC, you can instantly convert and send US dollars anywhere globally. Moreover, the transactions take place at the speed of your Internet connection, and the technology makes them considerably cheaper and faster than fiat currencies.
There are no USDC exchange rate losses
Some gamers often swap Bitcoin and fiat money in both directions. In this instance, a long-term price increase of the asset is less critical. Short-term slumps, on the other hand, might not only ruin your attitude but also deplete your money account.
If you make regular payments and withdrawals from your bitcoin casino account, the reliability of USD Coin will be a considerable benefit.
Its transactions are fast and inexpensive
USDC, like most cryptocurrencies, stands out among traditional payment methods owing to its fast transaction processing speed and much cheaper transfer costs. For example, a bank transfer may take days to complete, and payment systems may impose a significant commission fee on each transaction. Meanwhile, USDC enables you to transfer money instantly and at a meagre cost because you just pay for the transaction on the Ethereum network.
Playing casino games with USDC for an extended time may save much money on fees and other comparable charges. On the other hand, deposits in fiat currency are often more costly due to financial intermediaries. In this situation, funds are sent straight from one account to another.
Some people may regard speed as a secondary consideration, although this is unusual. A quick transaction not only saves you time but also keeps you stress-free. Nobody wants to be concerned about a payment that hasn't been finished after a half-hour. Cryptocurrencies, including USD Coin, provide an elegant and transparent means for transmitting money.
The ability to keep your USDC casino winnings
Returning to profits and significant sums, we should undoubtedly add another advantage of using USDC in crypto casino games. This one is less obvious, yet it is crucial for particular gamblers.
USD Coin is a regulated stablecoin backed by US dollars and short-term US Treasury bonds. Grant Thornton LLP, an independent auditing firm, reviews the reserves regularly. As a result, the USDC price always equals the USD price. Because of the lack of significant price movements, it is excellent for value preservation.
If you make a deposit, play casino games using cryptocurrency, and manage to keep your casino account balance the same, your crypto money will remain the same worth as before. For example, a deposit of $100 USDC will equal a withdrawal of $100 USDC.
Additionally, USD Coin may be handy for individuals who play Bitcoin-based games. If you don't like the BTC pricing, you can simply trade some bitcoins for USD Coin. This way, you will keep the USD equivalent of your profits rather than relying on the whims of fortune.
USDC is an Ethereum-based ERC-20 token. That is, you may save it in any wallet that supports this protocol. Popular wallets mentioned on the Centre website include Atomic Wallet, BitGo, Coinbase Wallet, Coinomi, Exodus, Ledger, and many others.
Disadvantages of USDC
Some aspects of USDC may be seen negatively by some crypto gaming enthusiasts. Therefore, you should understand more about them before playing crypto casino games with USDC.
The USD Coin is linked to fiat currency
Crypto enthusiasts are dissatisfied with the fact that the value of USDC is directly related to the price of the US dollar. Furthermore, there has been a heated debate about "liberal money printing" and forecasts of impending USD inflation. In that regard, Bitcoin and other similar assets appear incredibly tempting since a government does not control them, and their supply is algorithmically restricted. But on the other hand, USD Coin is said to be vulnerable to the negative impacts of those money-printing operations.
More hype than substance is at the heart of claims that the US dollar would cease to be an international reserve currency. However, the very existence of these talks typically has a beneficial influence on the price of Bitcoin and other cryptocurrencies. However, it may deter some individuals from purchasing USD Coin if they anticipate "imminent inflation."
You cannot profit from the price increase
USD Coin will not be popular with individuals who wish to "invest in crypto" and profit from its long-term price increase as a value preservation mechanism. The only potential benefit may come from the rise in the US dollar value, which we cannot consider earnings.
USD Coin will not be popular as a value preservation tool among those looking to "invest in crypto" and profit from a long-term price increase. The only potential profit may come from the rise in the US dollar value, and we can barely call that profit.
To tokenize or redeem USDC for dollars using Circle, you must first validate your identity and supply an active bank account. It will irritate gamers who value bitcoins for their anonymous gaming and betting choices.
You do not, however, have to swap USD Coin through Circle. Instead, there are over fifty cryptocurrency exchanges where you may purchase and sell this digital money.
Control by the creators
Unlike decentralized cryptocurrencies, the USD Coin project provides that its developers have the authority to freeze cash or ban the address of a USDC token holder. That being stated, it may occur only if there are allegations of illicit activity. Such an approach is prevalent among stablecoins.
Are USDC casinos safe?
Regarding safety, USDC Casinos are similar to other blockchain casinos: they are safe if you choose a reputable, regulated casino.
We always advocate playing at trustworthy USDC casinos with the following features:
- A powerful internet presence.
- A contactable client service.
- Most importantly, a gaming license.
Are USDC casinos legal?
The answer differs depending on where you are.
Gambling with USD Coin is similar to gambling with fiat currencies in most places where online gambling is not outlawed or heavily regulated because relatively few restrictions apply mainly to cryptocurrency casinos.
USDC casinos should be available to you if you can play at any online casino from your country of residence.
However, many USDC casinos do not accept players from regulated markets such as the United Kingdom or the United States.If this is the case for you, gambling Dapps that do not require personal information (such as your address) may be a better option - just make sure you follow the casino's terms and conditions.