Compare traditional fiat currencies with cryptocurrencies for gambling and everyday use. Understand the advantages and disadvantages of each payment method.
| Aspect | Cryptocurrency | Fiat Currency | Winner |
|---|---|---|---|
| Deposit Speed | Instant to 30 minutes | Instant (cards) to 5 days (banks) | Crypto |
| Withdrawal Speed | 10 minutes to 2 hours | 1-7 business days | Crypto |
| Fees | Network fees only ($1-20) | Processing fees (2-5%) | Crypto |
| Privacy | Pseudonymous | Fully tracked | Crypto |
| Availability | 24/7 worldwide | Banking hours, geographic limits | Crypto |
| Stability | Volatile value | Stable value | Fiat |
| Ease of Use | Technical knowledge required | User-friendly | Fiat |
| Dispute Resolution | Limited options | Chargeback protection | Fiat |
Bitcoin: 10 minutes, Ethereum: 15 seconds, Lightning Network: Instant
Card payments: Instant, Bank transfers: 1-5 days, International: 3-7 days
Bitcoin: $1-50, Ethereum: $5-100, Polygon: $0.01, Lightning: $0.001
Card fees: 2-3%, Bank transfers: $15-50, International: 3-7%
Public ledger with wallet addresses, not directly linked to identity
All transactions linked to identity, monitored by banks and governments
Anyone with internet can access, no bank account required
Requires bank account, subject to banking hours and regulations
Can fluctuate 10-50% daily, long-term appreciation potential
Relatively stable day-to-day, subject to inflation over time
You control your funds but are responsible for security
Banks and institutions handle security, with insurance and recovery
Fast deposits/withdrawals, low fees for frequent transactions
Lower percentage fees, no banking limits, faster processing
Familiar, stable value, easy to use, dispute protection
No geographic restrictions, avoid currency conversion fees
Pseudonymous transactions, no personal banking info required
Stable value, fraud protection, familiar dispute resolution
Backed by: USD reserves
Backed by: USD reserves
Backed by: Crypto collateral
Backed by: USD reserves
Start with fiat currencies (credit cards, e-wallets) for familiarity and protection.
Use a mix: stablecoins for stability, crypto for potential gains, fiat for large withdrawals.
Primarily crypto for speed and lower fees, with fiat backup for dispute resolution.