We’re making cryptocurrency casino gambling easier and safer!

Here at AUSlots, we want to provide our clients with the best online gambling experience they can have. And so far we think we're doing a pretty good job. Not only do we have a huge range of casino games and slots.

We also offer great deposit bonuses and more, and a variety of simple payment methods. As well as the best in security and customer service. In short, everything you would expect from a top-ranking online casino.

But we’re not resting on our laurels. We're always looking for ways to make your experience more user-friendly and convenient. That's why we are introducing two new payment methods; USD Tether (USDT) and USD Coin (USDC).

What are USDT and USDC?

Both USDC and USDT are examples of a relatively new type of cryptocurrency called Stablecoin. And before we go any further, we'll explain what a stablecoin is.

Stablecoin

As an online payment method, cryptocurrencies like Bitcoin offer many advantages. Payments made with cryptos are secure, anonymous and, compared to traditional banking methods, fast. This all makes them a great option for online gambling.

But there is one major problem. Price volatility. Because the value of most cryptos is set by the market, they frequently experience huge fluctuations in price. So using them for gambling is, well, a bit of a gamble really.

This is where stablecoins come in. Like other cryptos, they utilize blockchain technology to ensure your privacy and security. Unlike other cryptos though, their value is tied to real-world assets. This can be a fiat currency (real money), or basket of currencies, or other assets such as gold.

USDC and USDT are stablecoins linked to the US Dollar at a rate of 1:1. This means that for every token in circulation on the Internet, there is a US dollar sitting in the bank account of the parent company.

USDT Logo

USD Tether

Launched in 2014, USDT was the first of the stablecoins and is operated by a company called Tether Ltd. It is issued on the Omni, TRON, and ETH blockchains.

As the first of the stablecoins, it is also the most widely used. You can buy USDT on all major crypto exchanges (here’s a quick guide how)and it is widely accepted as a payment method. Tether is also paired with a large number of other cryptos to facilitate trading.

Despite its widespread use there are trust and transparency issues with the currency. For a start, there is no regular reporting or auditing of accounts. This has led to speculation that the reserves held are not sufficient to cover the tokens in circulation. There have also been allegations of Bitcoin price manipulation, and other shady dealings.

However, none of these change the fact that USDT is the most widely used stablecoin around today.

USDC Logo

USD Coin

USD Coin was launched in 2018 and attempts to address some of the issues surrounding Tether. It is a joint project between the popular crypto exchange Coinbase, and Circle, a Boston-based cryptofinance company. It is an Ethereum-based ERC20 token.

The parent company is registered in the United States as a Money Service Business. As such is subject to the relevant Federal Regulations.

It is also regularly audited by Grant Thornton, one of the top 10 accounting firms in the world. This is to ensure that all tokens in circulation are backed by the equivalent amount of fiat US Dollars.

Thanks to these transparency measures, USDC gained rapid acceptance and is now the second most-traded stablecoin in the world. It is available on most major crypto exchanges, including the popular exchange, CoinJar .

Advantages of using USDT and USDC on Auslots

  • Cost. Stable coins, and cryptos in general, have much lower transaction fees than credit cards. This means that using them in an online casino that accepts cryptos will give you more bang for your buck on the tables (or the pokies, whichever you prefer).
  • Speed. This is the big issue we want to address by adopting these payment methods. If you want to deposit or withdraw money from your online casino account by bank transfer or credit card, it can take days of valuable gambling time to clear.

Even with other cryptos there is a waiting period. It can be longer or shorter depending on the network traffic, but you still have to wait. USD Coin or Tether deposits will be credited to your account instantaneously.

  • Security and Privacy. Because they are built on blockchain technology, USDC and USDT offer the same security and privacy features as other cryptocurrencies.
  • Stability. As a payment method, stablecoins offer the same advantages as other cryptos but without the disadvantage of price volatility. This makes it much easier for you to control your budget and finances.

So buy some USD Coin or Tether today and see how quick and easy it is to make a deposit and start trying your luck here at AUslots. And when it comes time to withdraw your winnings, you’ll find it just as quick and easy. No worries, mate!