Bitcoin Casino Kings

Your Guide to Best Bitcoin Casinos and Betting Sites

  • Home
  • Bonuses
  • New Casinos
  • Reviews
  • News
  • Bitcoin Betting ▾
    • Bitcoin Betting
    • eSports Betting
  • Crypto Gambling ▾
    • Ethereum Gambling
    • Litecoin Gambling
    • Dogecoin Gambling
    • Bitcoin Cash Gambling
    • Dash Gambling
  • Games ▾
    • Casino Game Providers
    • Bitcoin Games
    • Bitcoin Slots
    • Bitcoin Blackjack
    • Bitcoin Roulette
    • Bitcoin Dice
    • Bitcoin Poker
  • More ▾
    • Responsible Gambling
    • About
    • Contact
You are here: Home / News / Will Any Crypto Casinos List Facebook’s Libra Stablecoin?

Will Any Crypto Casinos List Facebook’s Libra Stablecoin?

December 7, 2020 By Roary Leave a Comment

Rumors are starting to circulate that Facebook’s very own cryptocurrency dubbed Libra will be available from January 2021.

Libra has faced a ton of criticism since it was announced back in 2019, and numerous tech personalities have also proven that they don’t get Libra.

But, will Libra be any good and will the best cryptocurrency casinos be listing it any time soon? Let’s find out!

Will crypto casinos list Libra once it's live? We think not...

Will crypto casinos list Libra once it’s live? We think not…

What is Libra?

Libra is a stablecoin that was brought to the table by Facebook, and it would have a number of other big companies join the board and act as validators.

It’s super centralized and your Libra tokens can be taken away at any moment’s notice, meaning it’s not ideal for those freedom loving citizens out there.

It will be tied at a 1:1 ratio with the US dollar, preventing any wild price swings that we see with other cryptocurrencies.

Unfortunately, this means you won’t make any profits from it and if inflation hits the US dollar once Biden takes office, Libra too will become worth a lot less when compared to other currencies, both fiat and cryptographic.

In short, Libra is just another US dollar stablecoin, except this is controlled by Mark Zuckerberg’s Facebook and a few other tech conglomerates.

Will Any Crypto Casinos List Libra?

If Libra does manage to go live in January, there might be a lot of demand for it at various cryptocurrency casinos.

But, the short answer is that reputable cryptocurrency casinos will likely not add it with any haste at all.

It has no advantage in terms of transaction time, confidentiality or security over other another stablecoin out there.

The top cryptocurrency casinos out there like BitStarz, King Billy, 7BitCasino and mBitCasino give you a stablecoin option, but they use big name stablecoins, like Tether and USDC.

The only reason that an online casino would list Libra as a currency that players can play in is purely for the PR effect.

It holds no benefit over other existing stablecoins that have a far greater market cap and are used by millions of crypto traders on a daily basis.

If cryptocurrency casinos were to list another stablecoin, it would likely be in a fiat denomination that a vast number of players already use.

For example, we could see crypto casinos move to accept Euro pegged stablecoins, such as Stasis for their EU player base.

Avoid Libra Like the Plague

Libra has changed a LOT since it was brought to the table back in 2019, with a lot of its ideas being heavily watered down.

But, that doesn’t mean that we can finally trust Facebook with our money, and why should we?

Over the years, Facebook has leaked user data, sold user data and even allowed companies to run questionnaires on its platform, allowing them to psychoanalyze you.

These people can’t be trusted with your data, so why would you trust them with your money?

It will have little use outside of Facebook, meaning if you do buy some, you could be lumped with it for a while before you can use it.

So, our best advice for now is to avoid it like the plague once it goes live.

Filed Under: Cryptocurrencies Tagged With: Regulations

Avatar

About Roary

Roary is an avid casino player and has a burning passion for all things crypto. Over the years, Roary has combined his three loves into an amazing and lengthy career, writing about Bitcoin casinos and helping others learn about the young and exciting industry!

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow: Twitter Bitcointalk.org

Join the mailing list!

Be the first to know about new bonuses!

Max 1 mail per week. We do not give your email to anyone. You can unsubscribe at any time.

Quick links:

  • Home
  • New Casinos
  • Bitcoin Bonus
  • Reviews
  • Ethereum Gambling
  • Litecoin Gambling
  • Dogecoin Gambling
  • Bitcoin Cash Gambling
  • Dash Gambling
  • Bitcoin Betting
  • eSports Bitcoin Betting
  • Casino Game Provider Reviews
  • Bitcoin Games
  • Slots
  • Blackjack
  • Roulette
  • Dice
  • Poker
  • News
  • About
  • Contact

© 2015–2021 Bitcoin Casino Kings · All rights reserved


Responsible Gaming · Terms of Use · Privacy Policy · Cookie Policy · About · Contact

Follow us: Twitter and Bitcointalk.org
Review us: Trustpilot

GPWA approved portal

We are using cookies and collecting anonymous Google Analytics data to give you the best experience on our website.

Continue browsing if you accept this!

Bitcoin Casino Kings
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

This website uses Google Analytics and Google Tag Manager to collect anonymous information such as the number of visitors to the site, and the most popular pages.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.

Cookie Policy

More information about our Privacy Policy and Cookie Policy.