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Tether UK Casinos 2020 - Online Casinos Accepting Tether
Digital currencies have become increasingly popular among online casino players and the general public in recent years. New cryptocurrencies are created every year, and today, the leading cryptocurrency, Bitcoin, has over a dozen competitors of which Tether is one. Stable digital currencies, like Tether, were created to tackle some of the issues associated with other cryptocurrencies, such as Bitcoin. Some online casinos have been quick to embrace the new digital currency, Tether, just as they were with Bitcoin and other cryptocurrencies.
If you are interested in gambling with Tether or learning more about the payment method, you can find the Best Tether Casinos UK listed on this page as well as general information about Tether and Tether casinos. You can also grab the Best Tether casino bonuses from this page to make the most out of your deposits. Gamble responsibly and profitably in the company of your favorite online casino professional – Mr Gamble!
Best Tether Casinos UK
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Why the world needs Tether?
The leading cryptocurrency, Bitcoin, received a lot of attention early on when it was established. This led some people to imagine a world of decentralized finance - a global economy where banks and governments wouldn´t be involved in producing money. Unfortunately, things haven´t panned out like this so far.
However, Bitcoin has some disadvantages that make using it for payments problematic. First of all, its limited supply means that without an enormous market capitalization (the value of all coins in circulation), its price will always be volatile. This is because changes in Bitcoin´s demand, impacted by regulations and other external factors, have a dramatic impact on its price. Bad news makes Bitcoin´s price go down, and good news makes its price go up.
Besides, Bitcoin´s payment network’s security model is highly expensive to maintain and takes time to arrive at an absolute consensus. The changing fees and the time that transactions take on Bitcoin´s network can make making small purchases with the cryptocurrency unfeasible.
However, the very reason why Bitcoin is not quite the revolutionary payments network people once thought it would be, actually makes it desirable in a different way. This is because, with its inherent scarcity and unrivaled security model, many people believe that Bitcoin is comparable to gold.
In recent years, various digital projects have been established to attempt to fill the payments niche that people thought Bitcoin would fill. For example, Ripple´s XRP lowered transaction fees substantially and times to just microseconds. But no other cryptocurrency or digital project has been able to solve the high volatility that accompanies digital currencies yet. But Tether might become the innovation to solve this problem, however.
What is Tether (USDT)?
USDT is a digital currency that is issued by the Tether company. The currency was designed to hold a consistent value regardless of external factors. You might be left wondering how a digital currency can accomplish this, so let me explain to you how USDT works:
Every USDT token is backed by the US dollar (or its equivalent in other assets) held by the company Tether. Tether then issues and burns tokens, in accordance with supply and demand, to maintain the currency’s peg to the value of the dollar. The company reports daily on its operations to maintain transparency with its users. These reports are all available on the various blockchain explorers for the networks that host USDT.
This is because Tether exists as a token issued on various existing open blockchain cryptocurrency networks. These include Bitcoin’s Omni and Liquid Protocol, Ethereum, EOS, and Tron.
Tether tokens benefit from the attributes of their underlying blockchains. For example, Bitcoin-issued USDT benefits from a higher level of security that comes with Bitcoin´s blockchain, but BTC issued USDT´s remain more stable in price than Bitcoins. On the other hand, Ethereum or Tron USDT´s can be used to make transactions faster with lower fees.
Creating a Tether account
In order to get started with Tether, you will need to get yourself a specific crypto wallet, available straight from the official Tether website. After all, it is still a cryptocurrency and, as such, needs a place for storage.
The great thing about Tether is that you will not be asked to provide any private details upon registration. In fact, you can use your email address for verification, as well as dual-factor verification procedures. This means that you won´t have to divulge any personal information to the company.
However, keep in mind that upon registration, your account will need to be approved and verified by the Tether team first. While they have been fair in approving accounts so far, we don´t know what criteria are being used to distinguish between good and bad, potential candidates.
Once you are registered, you will receive an email notifying you of your current status, and all you need to do afterward is to fund your e-wallet. But making deposits and requesting for withdrawals to your Tether wallet needs to be done with extreme attention and precision because Tether payment requests are hard to reverse. However, this cryptocurrency´s transactions can still be reversed in certain cases, but the actual process could make you incur some hefty fees.
Tether in UK Online Casinos
We at Mr Gamble have reviewed all online casinos that support Tether as a banking option. Although Tether is hardly the most popular banking method available to casino players these days, today, the cryptocurrency is supported by almost a dozen online casinos around the world. This means that finding a Tether UK Online Casino is easier than ever these days.
How to deposit to Tether Casinos in UK?
You can start playing at Tether Casinos by registering for an account or signing into your existing one and heading to the ´Cashier´ section at the casino. Then you will just have to select Tether as your banking method. From here on, the deposit process is the same as with any other cryptocurrency – what you basically have to do is to transfer funds from your crypto wallet into the online casino.
Withdrawals at Tether Online Casinos
Withdrawing money from online casinos with Tether is also possible. The great advantage of using Tether at online casinos is that players can later request a withdrawal from their Tether wallet to their bank account for US dollars, should they want to.
When it comes to the withdrawal process with Tether, it is similar to the withdrawal processes with other cryptocurrencies. However, withdrawals with Tether are much faster and more reliable thanks to the optimized and fully secure protocol it uses. But before you withdraw your winnings with Tether, make sure to check for fees or any withdrawal limits beforehand, so that you won´t encounter any unpleasant surprises.
Advantages and Disadvantages of Tether Online Casinos
To finish off, let’s sum up all the pros and cons of using Tether.
- Fast deposits and withdrawals
- Inexpensive to use
- Widely available
- Harder to use than other cryptocurrencies
- Requires KYC checks more often than Bitcoin
All in all, it´s refreshing to see more and more online casinos starting to support Tether for deposits and withdrawals. It´s also exciting to see more and more cryptocurrencies pop up each year, and we cannot wait to see what the future will hold in this space. If you would like to use this banking method at an online casino, you can find the Best Tether Online Casinos and the Best Tether Casino Bonuses from this page.
Is gambling with Tether legal?
Because there is currently no legislation in place to regulate Tether gambling, playing at online casinos with Tether is perfectly legal.
Will Tether´s price go up?
Unfortunately, we cannot answer this question to you with certainty. However, experts haven´t predicted a high price for this cryptocurrency.
Does Tether offer customer service to its users?
Yes, users can email the company, should they have any problems or inquiries about the cryptocurrency. Alternatively, Tether´s customer support team can also be found on social media, including LinkedIn, Facebook, and Twitter.
Am I eligible to receive a Welcome Bonus if I use Tether?
Yes. You will be able to claim a Tether Welcome Bonus upon registration at most Tether Online Casinos.
Besides Tether, are there any other cryptocurrencies that I can use for deposits and withdrawals?
Yes. If you can’t use Tether, you can head to Bitcoin or Litecoin casinos instead. You can find the best online casinos supporting your preferred cryptocurrency from the Mr Gamble website.