6 Tips to Choose Crypto for Goat Spins Casino Winnings
iGaming enthusiasts might want to focus on the future of online casino play. The time when cryptocurrencies will dominate the market is right around the corner. It’s just a matter of significant jurisdictions like the U.S. waving the green flag, signaling that popular coins like Bitcoin and Ethereum can be counted as legitimate means of exchange.
Goat Spins Casino is an iGaming site that is more than happy to transact business with various cryptocurrencies. The following information will discuss the casino and crypto as the operator’s primary banking option.
About Goat Spins Casino
Introduced to the iGaming community in 2024, it is operated and owned by the company of the much-celebrated Mr. O’s Casino. The site currently shows no licensing information but comes to the market with a solid reputation.
The casino features 200+ online casino games, most of which are provided by Real Time Gaming. Slot enthusiasts can also take advantage of a $150 free chips bonus with no deposit required, followed by a matching deposit bonus of up to 388% + 150 free spins on the customer’s first deposit.
Notably, Goat Spins Casino does not offer access to fiat currency banking options like wire transfers and credit cards. Instead, it relies solely on cryptocurrencies as its only banking alternative.
Banking Options
Goat Spins Casino only accepts a small selection of cryptocurrencies as viable banking options. There are 10 deposit options but only 3 withdrawal options.
It’s worth noting that this disparity is quite common within the iGaming market. It’s always easier to make deposits than it is to make withdrawals. Of course, this does cause a bit of inconvenience for customers who choose to make deposits via one of the 6 options that can’t be used for withdrawals. They must then maintain at least two cryptos to make their deposits/withdrawals.
The 10 crypto deposit options are Bitcoin, Litecoin, Ethereum, Tether, Binance, Solana, Bitcoin Cash, Dogecoin, Tron, and Bitcoin Lightning Network. The 3 acceptable withdrawal options are Bitcoin, Litecoin, and Tether. Note: The operator strongly prefers to transact business through the ERC20 Network. The minimum deposit requirement is the equivalent of US $10, with an unstated maximum. No mention is made of withdrawal limits on the website.
Making Crypto Withdrawals at Goat Spins Casino
The deposit side is straightforward. You would issue a blockchain transaction from your eWallet account to the operator’s eWallet account. As with most crypto-casino transactions, the deposit fees are minimal. If any, they might range from $1 to as high as $20 in peak periods.
The withdrawal process is a little more complicated. If you are a regular online casino user, you most likely know there could be a pending period from requesting a withdrawal until it is approved. The waiting period could range from 24 to 48 hours, though crypto transactions are usually processed quickly because the casino already knows they have good funds.
Considering that you have a choice of 3 withdrawal options, we thought it would be prudent to help you figure out which option will best suit your needs. With that in mind, we offer the following comparisons between Bitcoin, Litecoin, and Tether as withdrawal options. To make these comparisons, we’ll look at the following six key factors: Transaction speed, transaction fees, value Stability, jurisdictions in which the coin is accepted, privacy and security, and how market conditions affect the coin.
Transaction speed
Bitcoin: Bitcoin’s average block time is 10 minutes. Depending on transaction traffic, iGaming transactions will usually take 10 minutes up to 1 hour during high-traffic times. That’s not optimal for anxious players who want to start gambling.
Litecoin: With an average block time of 2-5 minutes and a typical max of 10 minutes, this is a good choice for online casino players.
Tether: Since Tether transacts off the Ethereum or Tron blockchains, approval times are near instant with Tron and maybe 1-5 minutes with Ethereum. This makes it well suited for online casino players.
Transaction fees
Bitcoin: During low traffic times, fees could range from $1 to $5. During high-traffic times, they could run as high as $20.
Litecoin: Litecoin is again a great option with nominal transaction fees that can run as low as a U.S. penny.
Tether: Tron blockchain transactions cost about $1, while Ethereum transactions could range from $2 to $10.
Value stability
Bitcoin: Customers will have to endure some risk due to Bitcoin’s market volatility.
Litecoin: Customers will have to endure some risk due to Litecoin’s market volatility.
Tether: Barring unforeseen circumstances, Tether transactions are valued at $1 per $1.
Jurisdictions in which the coin is accepted
Bitcoin: Bitcoin is the most widely accepted coin in the world, and access is available through most viable eWallets and processing platforms.
Litecoin: Fewer jurisdictions and eWallets will transact business with Litecoin. Major platforms like Coinbase and Binance are viable options.
Tether: Although online access is exceptional across most major platforms, Tether is not a great offline retail purchase alternative.
Privacy and security
Bitcoin: The blockchain offers a high level of privacy and security, but transaction processing can be a little slow. This sometimes results in the doubling of transactions. The risks increase with eWallet selection and maintenance.
Litecoin: The Litecoin blockchain is also very private and secure. Because of its faster processing times, it’s a better option for avoiding double transactions.
Tether: How someone views Tether’s privacy and security should be based on how they feel about Ethereum and Tron’s blockchains.
How market conditions affect the coin
Bitcoin: Given Bitcoin’s volatility, market conditions are always worthy of focus. If Bitcoin advances, money can be made simultaneously from gaming and increased coin value. The opposite is true in a down market environment.
Litecoin: Interestingly, Litecoin’s volatility often mirrors what’s happening with Bitcoin.
Tether: There is no volatility with Tether, making it utterly immune to the crypto and financial markets.
Making the Right Choice
Considering which crypto withdrawal option will best meet your needs, you must consider your risk aversion seriously. If you don’t mind enduring the market volatility associated with Bitcoin and Litecoin, there are ample reasons to stay with these more popular cryptos. If your nature favors conservatism and predictability, Tether would be the right call.
Remember, you will have other deposit options. The best withdrawal option might be the one already in your eWallet account. You’ll use the two in conjunction with each other as frequently as you make deposits and withdrawals.
The bottom line is you can’t go wrong with any of these 3 options. They each offer advantages and, likewise, present minor issues.
When making your choice, ask yourself these 3 questions:
- Do you want stability and certainty or are you willing to “gamble” a little as market forces move your chosen coin’s value in one direction?
- Are you at all concerned about having to pay transaction fees?
- How fast do you want access to your gambling funds?
If you process your thoughts through these 3 questions, you will likely choose the crypto withdrawal option that works best for you.