Dai is a cryptocurrency found on Ethereum’s blockchain. The stablecoin has taken a similar approach to many others in that it tries to keep its value tied to the US dollar. This approach has seen all manner of discrepancies in the past, with some cryptocurrencies managing it and others not. How does Dai fair?
In theory, Dai should be a straightforward cryptocurrency for betting online. Does it pan out like that, though? Join us as we explore Dai and explain how it is used in the online gambling world and what that means for you.
Dai is a stablecoin running on Ethereum’s blockchain that debuted in 2017. Written in Solidarity, this cryptocurrency is one of the fastest emerging crypto coins at casino sites. However, it has a long way to go before it can challenge the likes of Bitcoin and Ethereum. The way it works is unique, even if it sounds dangerous.
Anybody who deposits Ether (or other accepted cryptocurrencies) can borrow against the value of their deposits, receiving newly generated DAI in the process. Once the “crypto loan” has been repaid (with interest), the DAI returned is destroyed, and the collateral can be withdrawn. This type of smart contract-friendly cryptocurrency is vastly different from its counterparts, making it an exciting addition to the crypto gambling world.
As you might expect, a Dai casino is any online gambling site that facilitates using DAI for gambling purposes. If we were talking about BTC casinos, then you’d have sites that merely let you deposit with Bitcoin, while others actively allow you to wager BTC on games. However, as we’re talking about Dai, this isn’t as common. Instead, you’ll find precious few online casinos that permit you to gamble with DAI, even if you can deposit using this cryptocurrency.
When you do find online casinos that are prepared to accept DAI as a betting currency, the games don’t tend to be mainstream. Instead, they are usually in-house titles or crash games. This is because few casino software providers have jumped to incorporating Dai as one of their accepted currencies. The same is true of Dai bonuses – there just aren’t very many of them around for you to claim.
There are a few advantages to playing in DAI at online casinos. We’ve listed those below. They include:
As so few games accept DAI bets, you can rest assured that those that do are amongst the most original, in-house titles around.
Dai can be used to gamble in more ways than one. Because of the way it works, you could argue that merely snapping up Dai is deemed a gamble.
There are disadvantages to using Dai to bet at crypto casinos, and we’ve listed those for you below, too. They include:
Because Dai is essentially a way of loaning currency (with interest), it is not the world’s most ideal currency for gambling. It could just be that you end up losing your investment gambling and can’t return DAI to obtain the collateral.
Dai is not a widely available cryptocurrency to bet with. You will find precious few casinos accepting it. However, we’ve listed the ones that do right here.
If you insist on betting with Dai, then choosing the right one is of paramount importance. Allow us to point you in the right direction below.
We’ve scouted around and found a few top Dai crypto casinos that you may be interested in. Learn more about them in our mini-review below.
Dai is not a cryptocurrency that many people would recommend for gambling online. However, if you want to make a move to betting with Dai, you must follow these short steps to get started:
Dai is an interesting cryptocurrency in that it does things differently from its counterparts. It is better used as a loan device and an investment tool rather than a proper cryptocurrency that you want to gamble with. However, if you want to ignore our advice, we can certainly point you in the direction of top Dai casinos. Any of the sites listed right here would be ideal for gambling with DAI online.
No. In fact, as an emerging cryptocurrency, Dai is not very common. However, it is starting to spring up at more and more casinos.
Not likely. While many of the more popular casino software providers have made their games crypto-friendly, they have only done so for major options, such as Bitcoin and Ethereum.
If you opt to play at an established crypto casino that really specializes in Dai, then this might be an option. However, DAI deposits aren’t usually associated with major crypto casino bonuses.
We took a close and in-depth look at Dai’s security when writing this article. We didn’t find anything untoward that would make us think that Dai was an unsafe cryptocurrency to use for online gambling purposes.
No, although very few cryptocurrency transactions are. While fees do exist (and however around $2 to $4), we do believe that they are fair and cheap for the most part.