The creators of Tether managed to combine two financial worlds: fiat and digital. This combines the technological advantages of blockchain technology with the stability of a currency backed by the U.S. Treasury Department into one cryptocurrency.
The main feature of Tether tokens is that they do not depend on the vagaries of the cryptocurrency market. Instead, they are tied to the value of the U.S. dollar. For the same reason, USDT became known as “stabelcoin,” that is, stable cryptocurrency.
Naturally, sites with cryptocurrency games almost immediately got hooked on such an interesting payment method. It quickly gained popularity and became one of the main ways to play for cryptocurrency at online casinos. The main reasons are reliability and relative ease of acquisition.
USDT has become the most traded cryptocurrency asset due to its “intermediary currency” function. According to recent data from Coinmarketcap.com, the daily trading volume of Tether leads all others with a value of more than $101 billion. This is twice as much as the corresponding figures of Bitcoin.
There have been several relatively recent scandals associated with Tether about the real security of the tokens and the impact on Bitcoin’s price. Nevertheless, the cryptocurrency still remains in the top ten of Coinmarketcap’s rankings by market capitalization and is actively used as a means of payment.
Where to gamble on Tether?
Cryptocurrency casinos are happy to use Tether as a payment option. This altcoin is quite popular and often reduces the headache associated with the uneasy relationship between koins and payment systems – both for the portals themselves and for users.
Here are a few platforms with games on Tether that have earned recognition in the gaming community and continue to delight players with great service and attractive offers.
To start playing USDT at BitStarz, all that’s required from a player is a desire. For just one registration at this crypto casino they give out 20 freespins without deposit. But if you want, you can immediately take advantage of a special offer and get double your first deposit to your bonus balance, as well as up to 180 free spins to warm up.
And that’s not the main thing that attracts players to this casino on Tether. BitStarz provides everything you need to have a great time. And if there are any difficulties with the casino games or payments, you can always count on competent technical support.
But if bonuses are of primary interest, you won’t have to get bored. BitStarz Crypto Casino is one of those sites that spares no time or money in organizing cool promotions. The portal regularly announces new “adventures” and sweepstakes, the winners of which get not just freespins and cashback, but electric cars and travel. Or something like that.
Among other things, in this casino on USDT you can constantly battle with other players for prizes ranging from hundreds to thousands of euros and free spins in one of several tournaments. The tournaments are designed for different categories of players: two of them consider betting in slots, while the third one is suitable for those who like table games on Tether.
Signing up for the mBit Casino site looks pretty tempting, because this USDT casino offers players a no-deposit bonus of 50 freespins. The portal allows you to play several thousand slot machines from Microgaming, NetEnt, Amatic, Endorphina and other providers on Tether. Games are tested and work great.
Players can get quite a large amount on their bonus balance thanks to the mBit welcome kit. Within this set, the first deposit is entitled to 110% bonus up to 1 BTC, the second deposit promises 50% bonus up to 2.5 BTC, and the third allows you to get another 75% bonus up to 1.5 BTC. High rollers with large deposits at Tether can request an increased bonus ceiling of up to 2 BTC for their first deposit.
Starter bonuses are followed by numerous promotions that alternate from time to time on Tether’s mBit casino site. Among the frequent bonus offers are freespins, additional reloads, cashback and all sorts of competitions with multi-thousand-dollar prizes.
If you play often and thoroughly, the player will accumulate loyalty points and move up to the levels of the VIP program. As usual, all sorts of rewards are available for this. In this respect, mBit is not much different from similar sites, offering loyal users cashback, deposit bonuses and free spins.
175% UP TO 1 BTC FIRST DEPOSIT BONUS + 300 FRISPINS
BitcoinCasino.io portal allows you to go on a real gaming adventure with bright characters and delightful games on Tether. This is another crypto casino that has crossed the 5,000 game apps mark, including poker, dice, video slots and many more. USDT games are available on all major platforms, including mobile devices.
Getting acquainted with BitcoinCasino.io starts with choosing a character, which will become a kind of a game avatar for the user. Here, you may have to think about it, as each character opens up a unique bonus ability for the player. One provides an unlimited reload bonus for high rollers, the second gives 10% cashback, the third increases luck, and so on. The usefulness of each ability depends on your preferred style of play on USDT.
BitcoinCasino’s welcome bonuses allow you to get 50-100% up to 0.1 BTC for each of your first three deposits. Another promo gives freespins from Friday to Sunday, provided the player has deposited at least 15 USDT. In addition, the site has a loyalty program of five levels with rewards in the form of freespins, cashback up to 10% and cash prizes.
Another way to win extra cryptocurrency and freespins is to participate in the Royal Tournament. This competition takes into account the real-money bets players make on slots during the week. At the end of the tournament, the first seven places win between 0.004 BTC and 0.025 BTC, and the next eight win between 30 and 150 free spins.
WELCOME BONUS UP TO 0.3 BTC
Winz Crypto Casino is one of the brightest places to play slots, roulette, blackjack and other games for USDT. The five-thousand dollar selection of slot machines has room for realistic games with real dealers and amazing jackpots. High quality gaming products are guaranteed by top casino game providers on Tether such as Microgaming, Play’n GO, Yggdrasil, Pragmatic Play and many more.
The gaming variety of Tether casino Winz is highlighted by the excellent bonus offers for registered users. For example, the promotions page now includes promo codes for special bonuses in slots and table games. With them, you can get freespins or refunds from bets for relatively small deposits.
Experienced players will pay attention not so much to the size of Tether bonuses, but to the lack of wagering requirements. Winz Casino decided to remove the wager from the free spins welcome bonus, so winnings from freespins are sent straight to the main balance. The same goes for the bonus cashback on table USDT games.
Additional entertainment does not end there, as the Winz Casino USDT gives users the opportunity to take part in gambling tournaments. At the moment there are competitions in Drops & Winz and “Slot Battle”, the winners of which receive prizes worth hundreds and thousands of euros.
WELCOME BONUSES UP TO 300 FREESPINS (WAGER-FREE)
BitcoinCasino.us serves as a great example of not judging by its wrapper. Behind the site’s slightly outdated design is a great Tether casino with unique offerings and plenty of colorful games. It provides fast payouts and anonymity and has a great variety of applications that can be proven to be fair.
What is Tether
Tether is a platform that issues USDT / EURT / CNHT tokens according to the dollars, euros and yuan that are in reserve. It uses the Bitcoin blockchain and the Omni consensus protocol. The latter is responsible for the “creation” and “destruction” of cryptocurrency tokens, while metadata is recorded on the Bitcoin blockchain.
Tether Limited is responsible for processing fiat deposits and issuing tokens. It is also responsible for safeguarding dollar (and other) reserves, public reporting, cooperation with exchanges and businesses, and the like.
According to the official documentation, the life cycle of USDT tokens is as follows:
1. Fiat currency comes into the possession of Tether Limited
2. Tether Limited issues an equal number of cryptocurrency tokens
3. Users transfer tokens to each other within the network
4. Another token holder decides to exchange them back to fiat
5. An equal amount of fiat currency is issued to the token holder, while the “used” tokens are destroyed
The USDT-USD ratio is commonly thought of as “one to one”, although in reality this is not always the case. Be that as it may, the exchange rate of 1 USDT on exchanges almost always equals $1.
At the moment, the platform allows you to convert three national currencies into Tether tokens:
– American dollar (USD).
– Euro (EUR)
– Offshore Chinese yuan (CNH)
Depending on the reserve currency, Tether cryptocurrency tokens will be called USDT, EURT or CNHT. However, the acronym “USDT” is very often used synonymously with “Tether.
The benefits of Tether in casino games
The popularity of USDT in crypto casino games has been driven by more than just interest in new altcoins. Using these tokens as a payment method promised very real benefits for casinos and users. Some of them are briefly described below.
Cryptocurrencies like BTC and ETH are already quite common in the online gambling industry. But for all their pluses, there’s also a minus: it’s the volatility of the price. If you deposit $100, there is a chance that exchange rate will go down, and in one day the same amount will be equal to $70.
Of course, the rate can also go up. But the attempts to make money on the price jumps of cryptocurrencies are the traders’ destiny. But gamers often want to put money on the line only in the context of gambling and online casinos.
Tether will be a great solution for gamblers who are not thrilled with (sometimes) crazy fluctuations in cryptocurrency prices. Because the tokens are pegged to the dollar, euro or yen, casino winnings won’t lose their value due to bad weather on exchanges.
Like dollars, but better?
You may have a reasonable question: then why play in USDT, if there are common dollars and other fiat? There are many reasons. One of them is that you can bet a tiny amount. With 5 USDT to their account, such gamblers can bet not only hundredths, but thousandths, ten thousandths, and sometimes even lower fractions of one dollar.
Another advantage of Tether in gambling lies in the fact that people don’t have to mentally convert token amounts into traditional money. Even though it’s a small thing, for many gamblers it does make a difference. It’s so much easier to control your balance and keep track of your betting history.
In the case of BTC and other “expensive” cryptocurrencies it is much more difficult. When you have one hundredth of one bitcoin in your account, and each bet “eats”, say, 0.0001 BTC – it seems to be absolutely insignificant. Another thing is when after each spin of reels 1 USDT is written off and the brain understands that the balance just became less by one dollar. In this case, it is somewhat more difficult to snap into reckless bets, stopping to keep track of the account balance.
The same goes for winnings. Of course, there is a certain element of surprise when it is not immediately possible to figure out the exact amount of winnings, and there is a beauty in that. But then again, many people would rather see how lucky they are right away.
Let’s not forget the more traditional perks of cryptocurrency games. The cost of money transfers in Tether is very low, while the transactions themselves are very fast. Like many others, this cryptocoin also offers an increased level of privacy.
To summarize, we get the following benefits of Tether gambling:
1. Clear winnings amounts
2. Stable exchange rate: 1 USDT = $1 (almost always).
3. Close to the zero cost of transactions.
4. Higher ceiling of transactions
5. Quicker payments
6. Relative anonymity
If the online casino has a conversion option, you can also use Tether to “fix” your winnings. If not, the same is done through the exchange.