Ever since cryptocurrencies entered the Filipino online casino scene, players have started turning toward them. However, the majority of people have a tough time understanding these novel payment options because they’re new and different. After all, the crypto field is still unknown territory to most people due to its complexity.
Luckily, there’s an altcoin that’s not at all complicated — USDT. Learning about this digital currency is a great starting point if you’re new to the crypto world.
If you want to find out more about this payment method, stick to our guide — we’ll explain what it is, as well as how to use it in online casinos in the Philippines.
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What Is USDT?
USDT, also known as Tether, is a cryptocurrency based on blockchain technology. This technology was first established with the appearance of Bitcoin. It’s basically storage for cryptocurrency transactions.
Tether was launched in 2014 in Hong Kong, five years after Bitcoin. This altcoin significantly differs from its predecessor in one important aspect — volatility. Namely, its owners claim that one USDT coin equals the value of one US dollar. For this reason, it is called a stablecoin — it is proportional to a specific fiat currency instead of having a value that’s fluctuating on a daily basis, as is the case with most cryptocurrencies.
Tether’s predictable worth is the most likely the reason why it’s currently the fourth-largest cryptocurrency by market cap, which amounts to 70 billion dollars. It is considered a digital counterpart to the US dollar, but due to its rapid growth, it has extended to incorporate the euro and Japanese yen as well.
Using this cryptocurrency is a no-brainer — you get one US dollar in exchange for one Tether coin and vice versa. Its simplicity is the reason for its growing popularity, which is why many Filipino players have taken an interest in it.
So, since you’ve gotten familiar with Tether, thanks to this brief introduction, we’ll cut to the chase and show you how to use it in Filipino online casinos.
How to Deposit in USDT Filipino Casinos
The process of using Tether in online casinos is pretty much the same as with most other cryptos. The following guide will show you how to do it:
- Purchase USDT — Buying Tether with fiat currency is the first step to utilizing this altcoin for online gambling purposes. To purchase it, you’ll need to register an account at a crypto exchange. Some of these exchanges are available in the Philippines, so you can buy USDT with the Philippine peso. Our recommendation is to purchase your altcoins at well-established exchanges, such as OKEx, Binance, and the like.
- Download a crypto wallet — As is the case with real money, you’ll need a place to store your assets. In the digital world, you can do so by downloading a crypto wallet. Since Tether is the fourth biggest player in the crypto game, there’s a myriad of digital storage devices you can choose from. After downloading a crypto wallet, install it, and set it up.
- Send the USDT to your crypto wallet — Once you have installed your crypto wallet, you’ll be given an exclusive address for making altcoin transactions. Transfer the Tether coins you’ve purchased to the specific address of your wallet.
- Visit a USDT casino — Find a Filipino online casino that allows Tether as a banking option. Since this altcoin is stable and used worldwide, there are dozens of Filipino-friendly iGaming platforms supporting it. Make sure to check our list of the best Filipino USDT casinos, as it could help you make the right choice.
- Go to the cashier page — Visit the Deposit page and choose Tether as a payment method. Specify the amount you want to fund your casino account with, copy the casino’s address to your crypto wallet, and confirm the transaction. Once you’ve completed these simple steps, you can play your favorite games using USDT. Enjoy!
How to Withdraw in Filipino USDT Casinos
Withdrawing is the simplest part of online gambling — it’s basically the reverse process of depositing. Here’s what you need to do to collect your winnings:
- Log in to your casino account and visit the cashier page.
- Click on Withdraw and select Tether.
- Enter your crypto wallet address, as well as the sum you want to withdraw.
- Confirm the cashout request.
- Wait a couple of minutes until your winnings appear in your wallet.
Advantages of Using USDT
This altcoin wouldn’t be among the world’s top 5 cryptocurrencies if it didn’t have its perks. So, let’s examine some of them :
- Stability — This is the main advantage of USDT. Namely, cryptos such as Bitcoin and Ethereum are highly volatile — withdrawing with them is a gamble in itself, as their value fluctuates on a daily basis. You can win big in a casino, only to see your winnings significantly reduced due to the changes in the crypto market. This is not the case with Tether, and its stability is the reason many players opt for it.
- Privacy — Aside from being stable, USDT payments are also secure. Namely, making transactions with Tether requires only your crypto wallet address. Since your personal information can’t be compromised, you don’t run the risk of it being exploited, which is a possibility when you’re using traditional payment methods.
- Availability — This pro stems from the first advantage we’ve mentioned — Tether’s stability. Most crypto casinos allow USDT as a payment option, as it is predictable and risk-free.
Disadvantages of Using USDT
The greatest disadvantage of Tether isn’t related to the altcoin itself but to its owners. Namely, there have been a lot of controversies surrounding the company, and it has had legal disputes with the New York Attorney General’s Office.
Although it claims to have a value equivalent to the US dollar, the company has stated this isn’t guaranteed, as USDT isn’t entirely backed-up by the fiat currency. Even though this creates some confusion, Tether is still pretty stable.
Available Games in USDT Casinos
Cryptocurrencies are relatively new, so some gambling sites still haven’t caught up with the trend. For this reason, some online casinos offer a weaker game selection for crypto users compared to the one available when using fiat currencies.
Still, regardless of whether the casino is up-to-date or a bit rusty, you can always find the classic categories, such as slots, roulette, video poker, table games, blackjack, and the like. Plus, the number of iGaming platforms adapting to cryptos is on the rise, so there is no need to worry.
USDT Casinos Bonuses and Promotions
Most crypto casinos focus on Bitcoin bonuses and promotions, while other altcoins don’t receive the same attention. However, given Tether’s stable value, some Filipino casinos deem it compatible with bonuses and offer generous welcome packages. These promos usually include match deposits and free spins to be played on slot games.
There are also loyalty schemes for frequent visitors, as well as weekly and monthly promotions. All in all, the offers are similar — if not the same — compared to the ones featuring fiat currencies.
USDT Mobile Casinos
Casinos accepting Tether are up to date, so it’s only logical they’re compatible with Android and iOS devices. Moreover, crypto wallets are also fully optimized for smartphone use. Combine the two, and you’ll get the privilege to play your favorite games on the go and withdraw your winnings while at it.
Final Thoughts
Most cryptocurrencies have two advantages in common — privacy and withdrawal speed. However, the majority of them also share one disadvantage — volatility. Luckily, Tether is not characterized by this, so not only is it safe and fast, it is also stable. This is why USDT is a great payment option for Filipino players.