What is Tether and how can I use it to play Mega Moolah?
There are very few people in the world today who have not heard of cryptocurrency. This virtual form of cash is now being more widely used across society, in many different parts of the world, than ever before and not just online.
There are now shops in Japan and other more technologically advanced parts of the globe, where you can purchase items ranging from high end electronics down to simple food and drink, all using your phone and blockchain technology. Cryptocurrency is also widely used online for a number of transactions, including of course, online casino gaming, betting and purchasing items.
There are a number of different cryptocurrencies on the market today, Ethereum, Bitcoin Cash, Litecoin are just three, but the most famous (and valuable) is Bitcoin.
However, there is one problem that Bitcoin and all the other forms of cryptocurrency have and it can strike without warning at any time and decimate your investment.
For many years, the value of Bitcoin was practically zero, but in recent times, as cryptocurrency has grown in popularity, its value has climbed. Indeed, it soared throughout 2018 and reached unprecedented levels. However, since then, it's value has declined and even in a short space of time, the relative value of cryptocurrency, relative to real life currency, can increase and decrease massively.
Of course, that means if you invest a significant amount in Bitcoin, then you could see your investment increase in value markedly. However, by the same token, your investment could also tumble in value markedly if you buy bitcoin at the height of its value and its price then takes a sharp tumble. This has happened many, many times in the past and it is this volatility that does put a number of people off purchasing cryptocurrency.
A number of solutions to this huge volatility have been proposed but met with resistance as often, the solution involved regulating the currency, which given as this is a truly international currency, would not work. However, one idea of fixing the prize of a new digital currency to the actual price of a real world currency, did seem to hold promise.
And that is exactly the idea behind Tether and why it is offering people who do not want to risk their capital, a perfect chance to invest in cryptocurrency without suffering the huge fluctuations in value that tends to come when buying Bitcoin or similar.
How does Tether work?
Tether is a new form of cryptocurrency that has all the benefits of crypto, such as being a safe and secure way to pay for items or fund an online casino account, but without the main drawback. Tether converts the cash you put into it into a digital currency. This is called "Stablecoin".
The reason it is called stablecoin is that the value of your investment is tied to the value of the price of national currencies, such as the US Dollar, the Euro or the Japanese Yen. So what this means is that if you have 1 USD Tether (USDT), then you know that the value of your investment will always be one US Dollar.
Of course, for a company to offer this service it would need to have reserves of cash which it can use to Tether to the investments made by customers. Tether does this by having details of their different currency reserves published each day, so customers can be confident that the company has the funds available to match or exceed the value of all the stablecoin in operation.
While Tether sounds fantastic for many people wanting to invest in cryptocurrency but without the risk of losing out on their investment, it's potential is only limited by the number of places that accept Tether as form of payment and the good news is that an increasing number of cryptocurrency sites and online casinos are now accepting Tether as a form of payment.
Can I play Mega Moolah using Tether?
We know that Mega Moolah is a massively popular slot game, so it seems a good acid test to check whether Tether is a viable form of payment, by asking whether you can use it to play this famous progressive jackpot game from Microgaming.
The good news is that you can thanks to this crypto casino. The casino operates in many different jurisdictions around the world and it accepts payment either in standard cash (using a credit or debit card for example) or using a number of different cryptocurrencies, including Tether.
The casino also carries a number of progressive jackpot games including of course Mega Moolah, along with a number of other top slots and games.
Depending on where you are in the world, you can receive 20 Free Spins as a welcome bonus from the casino, plus you can also land a nice deposit bonus on your first few deposits on the site, plus a further 180 Free Spins following your first deposit.
Players in New Zealand and Canada can benefit from a special offer that could see them earn up to $2,000 in bonuses across their first few deposits on the site.
However, you can also earn bonuses in cryptocurrency too, which makes the casino the perfect choice for anyone that wants to play the fantastic Mega Moolah slot using Tether, or indeed any other of the popular cryptocurrencies that the casino accepts, which include Bitcoin, Ethereum, Bitcoin Cash, Litecoin and Dogecoin.
Will Tether be used increasingly over the coming years?
While many casinos do not yet accept Tether, or indeed any form of crypto payment, the numbers that do accept this form of payment are growing quickly. As Tether becomes more well-known and the benefits to the user more widely understood, I can foresee this particular cryptocurrency being the default choice for people who do not want to expose themselves to the risk of investing a lot of money in a crypto, only to see its value plummet in the space of a few days.
Furthermore, by tethering the price of crypto to a real-life currency, it makes it easier for slot developers to develop games that can use this form of currency as its base unit, as its value will always be linked to a real world cash value.
I feel stablecoins can have a big future in the online gambling world as these coins offer players a simple, stable currency to play some of the world's top games. I think in a year's time, there will be a lot more casinos offering Tether payments and many more offering you the chance to spin on Mega Moolah using it.
Byline: This article was published by Mega Moolah expert Henry. Media and other enquiries.