What is your opinion on converting crypto deposits to FIAT?
Let me give you two scenarios and let me know how your casino would do in those situations.
Scenario 1:Date: 1 July 2019
Deposited: 0.5 bitcoin at 10k EUR/btc exchange rate
Converted value at my bankroll: 5k EUR
Date: 3 July 2019
Winning from games: 500 EUR
Current bankroll value: 5500 EUR
Bitcoin market price: 12k EUR
Converted to btc while withdrawing: 0.4583 btc
So in this scenario, I will be getting less numbers of bitcoin even after winning 500 EUR from the games. How do you handle this??
Now Scenario 2:Date: 1 July 2019
Deposited: 0.5 bitcoin at 10k EUR/btc exchange rate
Converted value at my bankroll: 5k EUR
Date: 3 July 2019
Loss from games: 500 EUR
Current bankroll value: 4500 EUR
Bitcoin market price: 8k EUR
Converted to btc while withdrawing: 0.5625 btc
In this scenario, I am making losses but getting more bitcoins while withdrawing.
Please let me know how do you propose to handle such situations? I think it is wise to implement crypto wallets instead of converting cryptos to fiat. You will be significantly exposed in exchange rate fluctuation risk.