Suggestion - convert currency service on stake

[lolipant]

since the site now have 3 currency, it would be nice if stake offered a coin conversion service on-site (between btc, eth and ltc)  you might as well take some % off as a convert fees. the minimum amount you can convert should at least equal to cash-out amount imo (to prevent faucet/rain abuse)

[williamshennie9]

I do conversions

Just PM me for an arrangement 

[lolipant]

1 minute ago, williamshennie9 said:

I do conversions

Just PM me for an arrangement 

too bad i already busted the balance a week ago XD

will do if i get more  

[lolipant]

7 minutes ago, DarkBlood069 said:

I think this idea is an amazing one again. But obviously you have to understand that it allows players to abuse the system once again, especially new players

how would that lead to abuse the system if the fees and minimum amount is reasonable enough? (fees 1-4%, minimum 0.002 btc/0.004 eth and 0.05 ltc)

[ravenyvolle2]

7 minutes ago, lolipant said:

how would that lead to abuse the system if the fees and minimum amount is reasonable enough? (fees 1-4%, minimum 0.002 btc/0.004 eth and 0.05 ltc)

Yeah a very good suggestion tbh, so no need to change to other sites with wthdrawal fees and actually saving more. And a good profit for the site as well.

[Snike]

I'ld like an automatic exchange service. That'd be awesome and shouldn't be too hard to do... lol

It woukd be awesome to exchange a quick 0.002 btc to eth or something like that! 

[Jakubb]

This is a great idea, but probably would cause a lot of issues as of the exchange. Also i doubt stake would have time for this, hopefully they do though. Great idea, thank you for making this post!

[wry]

This is a long standing and always good suggestion.  If a second tier site like luckygames can manage an exchange between over 70 coins a first rate site like Stake should be able to manage an exchange between three.

[eldrindcm]

Quoting Dan:

Quote

Providing the ability to exchange between coins is a whole different can of worms. It would either need to be done as an exchange which requires licensing and auditing and a lot of hard unnecessary work for a gambling site, OR we take on the process ourselves and risk losing money due to market volatility. Both options are not something we wish to pursue, and therefore I don't ever see this happening, at least in the near future.

 

[xtinepink]

This is a good one but I believe that this wouldn’t be the priority of the site atm. 

[eldrindcm]

1 hour ago, xtinepink said:

This is a good one but I believe that this wouldn’t be the priority of the site atm. 

Exactly. But yeah, it'll be a great addition to the platform, and I agree to set a minimum amount users will be able to exchange to avoid abuse.

[gotmebro]

I don't agree since stake, not a trader platform. And the price keeps changing every second. Its easy to abitrage if you know how to

[lolipant]

3 hours ago, gotmebro said:

I don't agree since stake, not a trader platform. And the price keeps changing every second. Its easy to abitrage if you know how to

if they want to, they could add restriction to use it for gambling (which is the exact same thing other site have for a deposit bonus, the lower chance you risk, contributed less point than a higher risk bet) to a certain point (such as 30x of converted balance) before able to cash out/move those balance to the normal pool or convert again (but then the site need to seperate balance from the converted one and the normal one for that) which should prevent abuse to a degree

[williamshennie9]

@Dan Is this something Stake would consider adding to the platform?

Exchanging between the 3 currencies for a percentage fee?

[anonnep]

 

[lolipant]

another idea is stake make a trade bot, which allowed two user to trade with each other between 2 currencies for a small fees (0.5% maybe) or no fees at all

[wry]

Or at least an escrow bot to avoid people being scammed.  Dooglus did one of these on Just Dice.  It's way more complicated than it needs to be, but would be a fairly simple addition. 

[Cheetos1337]

That would be pretty cool, instead of having a tiny amount of BTC you could transfer it to LTC and bet higher amounts and have more fun and bust everything in long run anyways x)