Dai Casinos 2022

martin-hillMartin Hill
13 min read
Dai Facts
DAI-coin
Company: Maker Foundation / Maker DAO
Headquarters:Santa Cruz, California, USA
CEO: Community Project
Website:makerdao.com
Available in:Most countries in the world
Available in Canada: since December 18, 2017
Best Dai Casino:Stake
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If you have come to this article, then you are in all likelihood looking to understand more about the crypto currency Dai (or DAI). More specifically we assume, you would like our expert casino reviewer opinion on whether or not this makes for a good option when it comes to online gambling.

These are all excellent questions, which we will begin addressing with a short understanding of where this crypto came from, what its intended purposes are, and how it sets itself apart from the competition – including its fellow stable coins like Tether (USDT), USD Coin (USDC), and Binance USD (BUSD).

While we won’t be giving you any investment advice, as that is beyond the scope of our expertise, this DAI review should help guide you in terms of how to use it as a payment method at your preferred casino, which operators actually accept it, and additional tips to help make the most of your DAI play. So let us begin.

info iconNote: DAI when it first started out was known as SAI (or Sai). So if you see those initials in terms of a crypto currency, then you know that they are referring to the same thing. Also, there is a strong connection to the MKR token, as they are in a way the same thing, which we will get into in a bit.

Play with DAI at Stake

Contents

The Best Dai Casinos of 2022 – Our Expert Recommendations

By now, if you have been paying attention to the various gambling sites out there, you have likely noticed that there is a strong trend towards crypto casinos. That is, while once upon a time you could only bet in US dollars or euros, then a wide range of international currencies, now you will see some of the big operators moving towards accommodating crypto in their cashiers, as well as many operators over the last couple of years who have dedicated their sites to crypto gambling alone.

cryptocurrenciesWhile all of the casinos that we have come across that accept digital currencies as a payment method work with Bitcoin, and usually Ethereum and Litecoin too, it is a bit of a hodgepodge when it comes to the other coins on the market. And although we have also seen a trend towards expanding the options – as Stake has recently done in adding a dozen more choices to the eight it already had including DAI and other stablecoins like USDC and USDT – it takes some research to find ones which you can be assured will accept your preferred crypto coin.

As such, to help you out, our casino pros have spent some time, flipping between our preferred operators, to identify your best options for DAI play. Of course, you can also do some research on your own too, to see if there is something that appeals to you more. But from our expert experience, these are the best you will find.

eCOGRAGLIiTech LabsMalta Gaming AuthoritySSL Secured
1.
stakecasino-logo-cryptos-only95% Excellent$500visit StakeRead Review
2.
cloudbet-cryptos-only95% Excellent5 BTC / $1,000 + 200 Free Spinsvisit Cloudbet CasinoRead Review
3.
fairspin-casino-logo95% Excellentup to $200 000+ 140 Free Spinsvisit FairspinRead Review
4.
22bet-logo93% Outstanding$300visit 22BetRead Review
5.
BCGame-Logo93% Outstandingno limitvisit BC.Game CasinoRead Review
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What Is Dai Anyhow? A Short History Behind the Crypto Coin

Okay, now that we have covered our casino recommendations for those who are ready to jump into the game, let’s delve a little deeper into Dai, so those who are interested can begin with a basic understanding of what it is about.

To be honest, for most people, this section may read a bit technical and hard to grasp. So feel free to skip ahead if you prefer, as we assure you, in order to gamble in Dai (and many would argue even invest in it) this level of detail is beyond what you need to fully comprehend.

Dollar IconBasically, Dai like Tether and USD Coin, is a stablecoin with its value inherently linked to the dollar by design. It is developed based on the Ethereum blockchain and is operated via a system of what are called smart contracts – which are essentially transaction protocols meant to reduce the need for intermediators while reducing fraud, accidents, and malicious activities by automatically initiating actions as they are intended to happen. These smart contracts, by the way, are the corner stone of what is called decentralised finance (or DeFi), which Dai is a strong partner in too.

As a stable coin linked to the US dollar, the goal of DAI is to maintain a value as close to the USD as possible. While this does fluctuate as much as 10% from time to time, it usually corrects itself rather quickly.

Introduction to Maker: What is Dai?

To complicate things even further, for those a little less versed in these matters, Dai itself is regulated and maintained by a company called MakerDAO, which was formed in 2014 by Rune Christensen, a Swedish entrepreneur. And MakerDAO itself, is composed of owners of MKR, its governance token, who via vote, can change particular parameters of its smart contracts, so as to keep the Dai coin stable.

thumb up iconInteresting fact: Dai, together with MakerDAO, is considered the first instance of decentralised finance to have received widespread adoption, making it a true crypto pioneer.

While MakerDAO itself was formed in 2014, it was only on December 18, 2017 that the coin and its smart contract system were officially released on the Ethereum network. From the start it was successful in maintaining its one US dollar value, although its collateral at the time Ether, saw major fluctuations.

Since then, other cryptocurrencies have been added as collateral options as well. And although the price can veer even up to 10% in value from the US dollar (in either direction), the regulators have been able to find fixes that work to quickly steer it back.

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Dai was created essentially in order to facilitate crypto lending. It operates based on overcollateralised loans and the process in which they are repaid. Basically purchasers of the coin borrow against the value of the coin which they are depositing in, receive Dai coins in return, and earn interest on their investment.

youtube-iconIf you are really interested in keeping abreast of Dai developments and uses, you can follow MakerDAO on YouTube. There, Dai’s holding company regularly posts videos about things like how its community works and how it can be used, as well as full coverage of its weekly held Governance & Risk meetings. And if you are really keen, you can also get active in the Dai community and connect with the community leads around the world.

Does Dai Have the Potential to Establish Itself in Casinos?

As a stable coin and highly regarded crypto currency there is nothing standing in the way of its advent. To this end, we don’t see any reason why it wouldn’t have the potential to become more widely accepted as a casino payment method.

True, on the technical side, it can be a little hard to understand, but on the practical side it is not. In fact, by design, and according to its own goals it is intended as a crypto coin that can be spent, transferred, or saved by anyone, anywhere, at any time. Just like you would do with any other currency like the US dollars, Canadian dollars, or euros you earn. It is, after all, according to the MakerDAO website, the first unbiased currency around, giving you financial freedom, with no volatility.

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While we cannot guarantee any of that, of course, it is from our knowledge more or less correct, and why its acceptance, in casinos and beyond appears to be growing.

Also, for those who are interested, its ecosystem is quite diverse, with a full list of the services and apps you can enjoy specifically and exclusively with Dai maintained on the MakerDAO website. Places where you can use Dai listed there include things like the Museum of Contemporary Digital Art, various charities and internet providers, and even specific Dai developed games.

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In other words, with so many real world uses already in place, we can only imagine that the potential for Dai in casinos will proliferate in due course.

Buying Dai – How It Works

The main way in which you can acquire Dai, if you are interested, is by purchasing it – either with a fiat currency or in exchange for another crypto you hold.

While it is possible to use different exchanges for your purchase, there are a number of crypto platforms that have been explicitly recommended by the Dai community for such purposes. And since this crypto is so connected with its community, we take its recommendations accordingly. As such, if you are looking to buy Dai, you may want to try:

  • coinbase-logo
  • Panda Exchange
  • Bitcointrade
  • Wyre
  • Buenbit
  • Oasis.app
  • Swissborg

As you can see, if you take a quick glance at that list, these exchange platforms all appeal to different audiences in specific geographical regions. For example, Bitcointrade has an emphasis on Brazil, while Buenbit is all about LATAM, and Coinbase mostly the US, Canada, and UK.

Whichever you end up choosing, the process in making a purchase will ultimately be more or less the same, though the exact wording onsite may differ.

The basic steps for initiating a Dai purchase as such, are:

  1. Choose a crypto exchange platform.
  2. Register a customer account – Note that you will be using real money here, so make sure the personal details you provide are true and correct.
  3. Make a deposit on the platform in the currency of your choice and in the amount that you want – Some may only accept USD, though others are more flexible (i.e. this is something you should check before you sign up, so you know that you are on the same page).
  4. Choose DAI as the crypto you would like to acquire, specifying the amount that you would like to purchase.
  5. Follow any onscreen instructions to complete the purchase.

loading-timeThe length of time it takes to complete the transaction will depend on the exchange platform that you are using, and also possibly the currency / payment method you have chosen. For the most part, it should be very quick, and usually pretty much instant, though there are possible delays. The fact that you have chosen DAI, however, will not play into this timeframe or in itself cause any delay.

As for when to purchase it, we can’t really say. Nor would we ever say, at the end of the day which crypto to buy. This is a matter for you to decide.

One of the advantages of Dai, however, as we have mentioned, is its stability. So in this case, you don’t have to be too concerned about the timing, as its value won’t fluctuate much. So the purchasing price will always be more or less the same, and equivalent to $1. Similarly, since it is essentially a 1:1 trade, it is not a huge investment or risk to buy some, as the expense is minimal, and there is little likelihood of much loss.

dai-to-usd-chartTo understand market value, this graph highlights the fluctuations of DAI in comparison to the US dollar over a one year time period.MoreLess

As for where to store your newly acquired DAI, some of the more highly recommended wallets include MyEtherWallet, Atomic Wallet, Exodus, MetaMask, and Jaxx. If you look once again on the DAI website itself, under the Mako Ecosystem, you can see further recommendations from community members including things like Anchorage, Ledger, and Trezor.

Mining DAI – Is This Even a Thing?

Due to Bitcoin’s popularity, one of the questions that may come to mind for many readers is whether or not they can mine DAI.

arrowAnd the answer is yes. You can generate Dai, which is essentially the same as mining it, using the Maker Protocol, in what is largely an interest generating endeavour. To do so you need to lock a surplus of collateral in the Maker Vaults. Then, like in a bank, you will generate Dai as interest according to this amount that you have locked in.

Another, similar option, that many choose is to margin-long on ETH to generate DAI. In this case, it is their Ethereum that they lock in the Maker Value, which generates Dai. Then in the interim they buy even more ETH, in the hopes that the price will increase – kind of how people play the stock market essentially, in this case hedging the crypto’s volatility.

How to Bank at An Online Casino Using Dai as Your Currency of Choice

Well, now that you pretty much know everything that you need to know in order to get started with Dai (at least for our purposes), let us take a deeper look at its uses in casino gambling. Or more specifically, how to use it as a payment method.

Again, as outlined above for how to use an exchange platform, the deposit steps at a crypto casino are all going to be more or less the same, perhaps with some small variations in terms of the exact terminology. As a whole, they will look something like this.

  1. Create an account at a crypto casino that accepts DAI – To make things easier, you can use one of the recommended DAI casinos from our list above.
  2. Once you have logged in, go to the casino cashier or wallet – Since this is a prime action that casinos want to encourage, it will always be clearly marked with a CTA button like ‘Wallet’, ‘Deposit’ or ‘Cashier’ at the top of each page.
  3. Open the deposit tab, and select Dai from the listed options – These will either be shown with icons on a grid or from a dropdown list.
  4. Copy the unique address provided onscreen to your crypto wallet, or scan the QR code using the app on your cell phone.
  5. Type in the amount that you would like to deposit – Like 10, 20, or 100 DAI.
  6. And submit.

Once you have submitted your deposit, you can expect to see the funds in your casino account rather instantly, with max a moment or two’s delay. After that, you are ready to go, gambling in DAI for your chance at real money wins.

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Something to consider: Different operators operate differently when it comes to crypto. For betting purposes, you may see the amount listed in USD rather than DAI for example, even if you have used that to fund your account. Rest assured, however, the actual calculations, once you go to cash out will be to the real-time value of DAI, with USD bets having been placed according to the corresponding value.

Other operators, on the other hand, will let you bet explicitly in your crypto of choice, in which case, no conversions are necessary. Some, from our experience, like Stake, even let you see both, so you can keep better track of what and how much you are betting, and what its current value is, every step of the way.

stake-wallet-settings-display-in-fiat-or-cryptoAt Stake you can choose to let your balance display either in DAI or the fiat currency of your choice.MoreLess

Pros and Cons of Dai Gambling

Next up on our agenda, it is time to discuss another pertinent topic. And that is the pros and cons of using Dai for online casino gambling purposes. From our experience, and after fairly in-depth research and consideration, these are the types of things you may want to consider.

  1. What advantages does Dai offer as a payment method at an online casino?
  2. What are the disadvantages of using Dai as a payment method at an online casino?

What advantages does Dai offer as a payment method at an online casino?

As a decentralised stablecoin, Dai has many benefits and uses. It can be used as a payment method at many places, including and beyond casinos. And it offers good opportunities for savings, and even investment purposes if you go for the interest generating route.

thumb up iconIts character as an unbiased coin also has benefits. For example, think of how traditional banking and other financial systems work, asking you for personal information, credit history, and even a minimum deposit in order to enjoy them. With an unbiased coin, you don’t answer to anyone. Nor do you need to give any background or worry about your economic standing to participate. You also, by the way, won’t be penalised by restrictions, that some populations experience during inflation in terms of how much you can withdraw at a time.

Dai casino banking benefits at a glance:

  • Quick transfers
  • Lower fees than most financial services (and even crypto coins)
  • No personal data or proof of financial standing needed to acquire or trade in it
  • Well-structured system for those who simply want to save (as opposed to invest or spend it)
  • Proven stability in a volatile crypto market – With a longstanding ability to stay on par with the US dollar
  • 24/7 service
  • Complete transparency, with all transactions available on a public ledger
  • Ability to generate passive income through savings in MakerDAO smart contracts

What are the disadvantages of using Dai as a payment method at an online casino?

In general, from our experience, in terms of a casino payment method, there are no specific disadvantages. The only one, perhaps, would be the fact that it is still only available at a limited number of sites – though as we are already seeing, there is a shift to becoming available at more.

Other than that, the only disadvantages, if you can call them that, are more connected to the coin and how you may be investing in it, and for what purposes. One thing we hear talked about, for example, is its long-term forecast with some concerned that it won’t survive down the line due to how it works and with its loan based system. But since it has made it so far, and only appears to be growing in popularity, many others don’t see it that way. Its value is also pretty flat, so you won’t likely make much money if you are someone looking for volatility and hoping to make gains that way.

Dai coin disadvantages at a glance:

  • Still not accepted at all crypto casinos – Though it is quickly becoming more widespread
  • With a stable 1:1 exchange rate with the US dollar, there is no opportunity to take advantage of market volatility
  • Possibility for those borrowing on the Maker Protocol to lose overcollateralized assets

The latter point, mind you is highly unlikely, and for most of our readers, likely obsolete. Which is to say, at the end of the day, there are far more advantages as a whole.

Payment Limits at Dai Crypto Casinos

While we did not cover this in the above section on the pros of Dai gambling, one of the biggest advantages of crypto gambling in general is the lack of payment limits. Not always and not everywhere, necessarily. But as a whole, there are far fewer limitations in terms of how much (or how little) you can put in or take out of your casino account.

coins iconPractically speaking, this means that it is very possible to find a crypto casino with absolutely no limits. In this case you would be able to deposit and withdraw the smallest available fraction of the coin you are using, though we don’t really see how that would be effective, as you wouldn’t have much available to gamble.

More importantly, however, you would also be able to deposit and withdraw as much as you like. And this is the big differentiator with fiat, letting you cash out with no restrictions.

questionKeep in mind, however, that it is also more than possible that there will be some sort of limits in place – either on the upper end or lower end. Hence, as we always say, it is always worth checking either with the casino’s customer support team, in its FAQ section, or within the T&Cs for details on the particular casino’s payment policies.

Remember whatever the limits are, or are not, you will need to leave enough money in your account, beyond the transaction amount, to cover the network fees. While mostly nominal in the case of Dai, it is still something you need to consider to complete your transaction.

Unique Aspects of Dai in Comparison to Other Popular Crypto Currencies

No doubt, to many of us, it can be difficult to keep track of the thousands of crypto coins around, let alone their differences, and what makes one preferable to the next. Often, there is not much to say, as many are quite similar. And the differences are not the types of things that most individuals, and even in all honesty investors, can bother to think about, let alone understand.

That means, even the unique aspects of a coin should be taken with a grain of salt, as just about none of them at this point are one of a kind. And this is especially true when comparing Dai with other stable coins like Tether, Binance USD, or USD Coin, which are also all tied at a rate of 1:1 with the value of the US dollar.

Still, there are some aspects that we might say are unique enough, that they are worth pointing out. The main features that have DAI standing apart from the competition include:

  • An unbiased coin – Actually, considered the world’s first!
  • Decentralised governance
  • No volatility
  • Ability to generate Dai instantly, on your own terms
  • Strong community and ecosystem – With over 400 services and apps (and growing) having integrated Dai, including DeFi platforms, games, wallets, and more
  • Ideal for investment, saving, and spending purposes
  • Option to generate additional income via the DAI Savings Rate system
  • Complete transparency and highly secure
  • Nominal transfer fees and quick processing times

That is a pretty good list, we would say! And all the more reason why this is becoming a more popular digital currency choice all the time.

How Safe Is It to Play at a Dai Coin Casino?

This is a good question. But really, the better question would be how safe is it to play at a crypto casino and use Dai as a payment option, because as far as we have seen, there is no Dai casino to-date, as in one that focuses exclusively on this type of payment method.

checked iconAnd the answer is simple. Possibly quite safe. That is, as is always the case, you need to check a few things first to make sure that the operator you are considering is trustworthy, and functions in an above board manner. This means you can do things like read our comprehensive casino reviews, in which we recommend thoroughly vetted safe casinos to play at. Or you can look into any given casino yourself by examining important elements such as its bonus requirements, payment terms, and the security protocols it has in place to protect your personal / banking information.

Curacao Gaming Control BoardYou should also only choose operators that are fully licensed and regulated. In crypto gambling, from what we have seen so far, this is most often done by the Curacao Gaming Control Board. But licenses from other internationally recognised bodies like the UK Gambling Commission, Malta Gaming Authority (MGA), Gibraltar Licensing Authority, Kahnawake Gaming Commission, Isle of Man Gambling Supervision Commission, or Alderney Gambling Control Commission are equally good.

Fair results for games is also key. And while the aforementioned licensing will basically cover that, you can also check into the game providers for a better indication. While it is not a guarantee, popular providers like NetEnt, Pragmatic Play, Yggdrasil, and Play’n GO (amongst dozens of others) are also strictly regulated, with their games requiring proof of random results to make the cut. That means if you see an operator carries games from any of them, that can be a good sign too.

For the original crypto games most crypto casinos now tout, the demonstrably fair algorithm by the way, does the trick.

Once all these things are in place, you can be pretty sure that your choice is safe. However, your own wellbeing, we will remind you, is of pertinent importance as well. So make sure to gamble responsibly, and ask for help should you need it.

Game Selection Available for Gambling with Dai Online

In case you are concerned that choosing a less popular crypto currency will limit your game choice, rest-assured there is no need to be. The currency you choose, ultimately, is between you and the cashier. How you get your money in and out. But once it is in, you will undoubtedly be able to play any and all games equally.

What that means in more practical terms is that if the casino you choose accepts Dai as a payment method, then all of the games in its catalogue will be available for your betting pleasure too. The only limitation here, we will point out, is that from our experience, there are occasionally certain providers or titles blocked to players in specific countries. But like we said, this will have nothing to do with your currency of choice.

As such, you should easily be able to enjoy a wide spectrum of titles across all popular categories, including:

fruit slot Slotsblackjack-cards Blackjack roulette icon Roulette
live-dealer Live casino gamesjackpot icon Jackpot gamescoins icon Original crypto games like Plinko and Crash
baccarat icon Baccarat pokerchip icon Video poker bingo Bingo
scratch card games Scratch and win gamescoins icon Arcade gamessoccer Sports betting
And more!

free iconIf you are just getting started, by the way, as in any online casino, most reputable operators will offer a free play option. That means free crypto slots, crypto roulette, and the likes, which is pretty neat – and something we always recommend taking advantage of for at least a few rounds.

Also, beyond the full gamut of game categories, we will just point out that you should also be able to find the full range of titles from your favourite providers, like Microgaming, Yggdrasil, and NetEnt, also featured at crypto casinos including classic titles as much as new releases. So if you were in any way worried about that, we assure you, you won’t be missing out on that front either.

fairspin-casino-slotsSome gaming options at Fairspin Casino.MoreLess

Tips and Tricks for Gambling Online with Dai

Although we already covered how to acquire Dai, use it to bank at an online casino, and the advantages in so doing, as casino experts, we are often inundated with questions regarding tips and tricks to make it all the better.

idea iconSo the first thing we would say on this front, is to look for a casino that offers a Dai bonus. Mind you, it is likely not advertised on the casino’s homepage, at least explicitly. But if it has say a BTC welcome bonus, check the conditions to see that it applies to Dai first deposits as well. That way, you can begin your journey with a far bigger bankroll.

deposit iconAnother thing to keep in mind, is transaction fees. As the blockchain network always has at least nominal fees attached to transactions, you may want to reconsider how you conduct your transactions. For example, if it is a flat fee per transaction, you would want to make fewer deposits in higher amounts, instead of feeding in $20 (value) increments at a time, if you are planning on sticking around.

Also, as a reminder, the exchange value can fluctuate. True, less so with Dai than with Bitcoin. But you always want to keep an eye on this parameter. And since Dai has savings and interest gathering potential too, you need to think about your long-term plans as well when you choose where to put it.

A few other useful tips for DAI casinos that you may consider include:

  • Use an exchange platform that incurs lower transaction fees
  • Keep some Dai available in your crypto wallet for other purposes
  • Register only at safe (read licensed) online casinos

responsible gamingAnd finally, always remember to gamble safely as a whole. Beyond our tip for choosing licensed operators, you need to assume responsibility too. Dai, like USD is an actual currency, with real monetary value, and you need to relate to it accordingly (unless perhaps you are a billionaire, though maybe even then). This means keeping track of your spending and only gambling what you can afford. Also, no matter how much you love gambling, you do not want it to take over your life. So pace yourself as well.

Are There Special Dai Bonus Promotions to Know About?

Overall, it is extremely rare these days to find a bonus tailored to a single currency. After all, part of the beauty of online gaming is its accessibility, and that means being available to players around the world equally.

arrowAs such, do not expect to receive a Dai specific deposit bonus. Rather, what would be more likely, is to check if the casino offers a welcome bonus, that it also includes Dai deposits. Similarly, since each currency has such different values, don’t just look at the big bonus being featured on the homepage promotions of any given casino. Drill down a bit more into the bonus terms and conditions, to see the amounts given for Dai, or any other currency that you will be using.

Some Popular Alternative Crypto Coins You May Choose for Gambling

While this article is a Dai review, dedicated to discovering all there is to know about this stablecoin and gambling, the reality is, that when it comes to online gambling, it is not all that widespread (yet). That means it is more than possible that you may come across a casino you would like to join that does not offer it as a payment option.

If this is the case, you can do one of two things. Move on to another crypto casino like Stake that is known for its excellence and does happen to accept Dai. Or, just as easily really, use a different crypto that is accepted when playing at the casino you picked.

Good options that will be accepted more widely include:

Again, we cannot say which of these cryptos to go for, as that would basically constitute investment advice, which is beyond our expertise. All of them have their advantages, and of course you can flip through our many crypto currency reviews to help further decipher which might be a good pick for you.

Dai Casino FAQs

If you came to this review to get a little advice regarding Dai and online casino gambling, then you probably already know more than enough. But if you are up for it, since you are already here, keep going, for the finishing touches in our FAQs covering some of the remaining tidbits you may want to know – or for some, the essential Q and As, for making their choice.

  1. Which is the better stablecoin, Dai or Tether?
  2. How much does it cost to deposit and withdraw using Dai?
  3. How long will a Dai deposit or withdrawal take?
  4. How secure is Dai as a payment method?
  5. Can the Dai exchange rate change?
  6. What is the Dai forecast?

1.) Which is the better stablecoin, Dai or Tether?

These kinds of comparative questions, we will be honest, are extremely difficult to answer. Which is better the euro or the dollar? We can’t really answer that one either as it depends on where you are living, what you are doing with your money, and a million and one other things. Plus, since all currencies really have volatility, the answer can easily change.

info iconThat being said, Tether does often top the list of the best stablecoins on the market and the one with the highest value. However, while it may be the largest and most popular, it is actually often considered riskier. In fact, many would say that USD Coin is the safest of them all (to throw another option into the mix). And Dai for its part is preferred by many for its decentralised nature as well as the interest earning opportunities.

In other words, there is no right answer here. Nor is there really such a huge difference. And from our experience thus far, not such a big disparity in terms of the number of casinos that accept either of these coins. So the choice is really up to you. Or put a little more pragmatically, both are good.

Back to FAQ

2.) How much does it cost to deposit and withdraw using Dai?

Long gone are the days in which casinos charged deposit fees or withdrawal fees. At least we hope, as we have not come across any in the last number of years, and certainly as far as we recall, are not a thing at any of our recommended operators. This means to say, that from our experience, you should not encounter any casino fees for Dai transactions.

blockchainSuch transactions, however, will not be free, as all blockchain transfers are subject to network fees. In general, the amount for Dai is considered nominal. But we highly advise checking the terms and conditions on your chosen exchange platform for the exact percentage or flat rate, as this can differ, and may be subject to change.

Back to FAQ

3.) How long will a Dai deposit or withdrawal take?

There are two things to consider on this front. The time it takes for the transaction to complete, and the time it takes to show up in your casino account.

On Coinbase, for example, a Dai transaction is subject to 14 network confirmations. In other places we have read it can take 20. In any event, if you are familiar with how these network confirmations work, they are actually exceptionally quick, and feel fairly seamless, meaning you may not even feel the time lapsed until they are complete. That being said, they could take a few minutes or more, though that is not the norm.

Once the transfer is complete, the money will automatically be added to your casino account – so there is no waiting time expected on that end. Hence you will usually see most casinos describing crypto transactions as instant.

Back to FAQ

4.) How secure is Dai as a payment method?

Dai is by design a very secure stable coin and equally so, a very secure payment method. All Dai transactions are completely transparent, hosted on a decentralised blockchain for an added layer of checks and balances.

exclamation markJust keep in mind, like all cryptos, once you make a transaction there is no going back. Unlike a credit card payment erroneously issued, you will not be able to claim back Dai if you sent it to the wrong merchant. So for your financial protection, be careful in copying the address (or scanning the QR code) when sending funds, and the decimal points in the amount you enter.

Back to FAQ

5.) Can the Dai exchange rate change?

In theory, Dai is exchanged at a rate of 1:1 with the US dollar. So in comparison to the US dollar its rate should not change. Much at least. That is because, the reality is, the value may increase or decrease by a few percentage points on any given day. However, there are governing mechanisms and algorithms in place, to keep this in stride, and prevent an even larger margin from occurring. It is a stable coin after all, and has everything in its interest to keep it from taking a volatile direction in its very essence.

Back to FAQ

6.) What is the Dai forecast?

Since its release in 2017, Dai has been able to keep to its promise of sticking to the dollar exchange rate, which bides well for its reputation. It has also become more widely used, with the MakerDAO community behind it.

smileyThere are a lot of interesting elements behind this stablecoin as a whole. But that being said, no predictions can actually be made. The crypto market as a whole is extremely crowded and volatile. Some even doubt whether crypto will last, though that is a different discussion. While all signs point to positive things, this at the end of the day, is only speculation. The wise thing to do is to keep your eye on the market, and likely diversify, according to your budget and goals.

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Our Expert Opinion on Dai Casinos

In a crowded crypto market with thousands of coins to keep track of, it can be hard to tell them apart. Or to really understand their differences, which is fair. The reality is, when it comes to crypto gambling there is not much you need to know. This you might say is especially true when it comes to using stable coins, since you have nothing to lose in their acquisition, and their purchasing price is manageable for most budgets.

So while you may be interested in its unbiased nature, or how Dai is democratising financial freedom, or the benefits of its decentralised governance (which are all good things), for our purposes, all we need to know is whether or not Dai makes for a good choice for casino gambling. And that, is undoubtedly yes. The rest of the question, in terms of investment purposes is up to you. But when it comes to choosing it as a payment option, should you find a casino that offers it, you have every reason in the world to proceed.

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Author: Martin Hill
Last Update:
Article reviewed: Dai
Author Rating: 90%