22nd May 2020, 10:38:57 AM
At a time when the cold winds of the harsh crypto winter were freezing the entire crypto-world, during the 2018 and 2019 crypto depression, there were a lot of talks about a possible salvation that could signal an upcoming prosperous spring & summer: stablecoins.
These talks have died down with the emergence of hope towards the summer of 2019 and forward to 2020, nevertheless, the stablecoins continued their ascension becoming a viable alternative for all those who seek stability in a market that blows everyone away with violent ups & downs.
We at 777slotsbay agree such products must be made available for the wide audience as a response to volatility, that’s why we have taken all the steps to implement the most popular stablecoins out there as both an easy-to-use instrument for deposits and a valuable asset for withdrawals.
However, before we show you how easy it is to use these payment alternatives, we first must give you some important insight about stablecoins, in general, and USDT or USD Tether plus USDC or USD Coin, in particular.
Stablecoins are cryptocurrencies that have two main roles: to be a stable store-of-value and a hedge against volatile market conditions.
The traditional way to achieve these goals is to create a coin that is pegged to a stable fiat currency like the USD Dollar or the Euro. Other cryptocurrencies that are pegged to physical commodities like gold, for example. Moreover, there are crypto-assets like Maker DAO that achieve the stability goal by building a diverse portfolio of the top blockchain-based digital currencies.
USDT or USD Tether is the initiative that started all the stablecoin frenzy. It’s the original project created long before the 2017 crypto hype that thought of creating a coin that is pegged against the USD Dollar.
During 2017, Tether boomed in popularity & fast forward to 2020, it’s now the fourth cryptocurrency by market cap with close to $9 billion in assets.
USDC or USD Coin is very similar to Tether - it is pegged by the US Dollar 1-on-1, therefore 1 USDC is always 1 USD - only it is managed by a different company. One of the most popular cryptocurrency exchanges around, Coinbase controls USDC helping the stablecoin reach new heights in popularity in the past couple of years. USDC is now 21st in the market capitalization ranking (second stablecoin overall) with over $700 million in assets.
If you’re wondering why you should try out these two new payment alternatives, you must have already guessed the first reason as you read the previous section.
Indeed, USDT & USDC are stable cryptocurrencies that aren’t influenced by the volatile conditions in the cryptocurrency market. No matter the price of Bitcoin & the other altcoins, USDT & USDC will always be valued at 1 USD per coin.
In fact, it would be like you deposited & cashed out with the good old US Dollar via the traditional payment options. So why should you choose USDT and USDC then, instead of, let’s say, credit card or your favorite e-wallet?
First of all, both USDT and USDC live on the blockchain, therefore both enjoy the same security & anonymity as Bitcoin or Ethereum. In the case of the credit card option, you will have to work with sensitive information. Even with e-wallets, you will have to top-up your e-wallet balance using a credit card or bank transfer, before making a deposit at your favorite online casino 777slotsbay.com. With Tether and USD Coin, you only have to copy & paste a crypto address that provides no sensitive information whatsoever.
Since we’re talking about cryptocurrencies, we have to bring to the table the fees. USDT & USDC have some very competitive fees even compared to Bitcoin & Ethereum in rush hours, not to mention some other traditional options like wire transfer, VISA, or Mastercard. As a result, you can actually save some money that can be put to good use at our online slots or online casino.
If we have convinced you about using USDT & USDC for your deposits & withdrawal, then you will be happy to know the process itself is quite simple & straightforward. It is as if you would use Bitcoin or Ethereum; the steps are the same.
For a deposit, you only have to choose either USDT or USDC from our list of payment methods & send your stablecoins to the address provided. How can you get Tether or USD Coin? You can use Coinjar exchange & digital wallet, for example, to buy USDC. Once the transaction to the address provided is completed, you will have your funds in seconds ready to rock’n’roll at 777slotsbay.com.
To withdraw your BIG win, the steps are similar. Choose either USDT or USDC from the list of available payment options, choose the sum you want to cash out – remember 1 USDT or 1 USDC is equal to 1 USD – and copy & paste your USDT/USDC address that you can find on platforms & apps like Coinjar. No other info required!
Your funds will be transferred in no time so you can enjoy the BIG win in real life.
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