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Crypto & Banking

Celsius Network CEL token deposits not supported at any major crypto casinos despite active trading

JKLeader✔ verified218 views
57

Been holding CEL tokens since before the Celsius bankruptcy and they've actually recovered decent value on exchanges. Trading around $0.18 now with solid volume on Binance and KuCoin.

Checked deposit options at BetWhale, Wild Casino, Cafe Casino and Super Slots - none support CEL deposits despite supporting way more obscure tokens. Even Ignition Casino has like 15+ altcoins but no CEL.

Anyone know why crypto casinos avoid CEL specifically? The network fees are minimal and it's got better liquidity than half the tokens they do accept. Seems like easy money they're leaving on the table.

5 replies

  1. 13

    Probably the bankruptcy stigma. Most businesses stay away from anything connected to failed exchanges or lending platforms. CEL got hammered during that whole mess and casinos are risk-averse when it comes to token selection.

    Stick with BTC - never had issues at any casino and the fees are predictable. Why complicate things with tokens that might get delisted overnight?

  2. 3
    ATAnna T.Regular

    I actually asked BetWhale support about this last month. They said they evaluate new tokens based on market cap stability and regulatory clarity. CEL fails both tests apparently.

    They did mention they're looking at adding more Ethereum-based tokens in 2024, but CEL wasn't on their roadmap. Voltage might be more open to it since they seem to add altcoins faster than other sites.

  3. 6
    MRMike R.Member✔ verifiedAccepted answer

    CEL token deposits would be cool but honestly the conversion hassle isn't worth it for me. I just swap CEL to USDT on Binance then deposit the USDT. Takes maybe 10 extra minutes and every casino accepts USDT.

    Lucky Tiger has been adding more ERC-20 tokens lately though. Might be worth reaching out to their support directly - they seem responsive to player requests.

  4. 16
    JPJess P.Regular

    The legal issues around Celsius probably make casinos nervous. Remember they had that whole SEC investigation and customer fund freezing drama. Most gambling sites avoid anything that might attract regulatory attention.

    Plus CEL has pretty wild price swings. Casinos prefer stable deposit currencies so they don't get caught holding bags when tokens crash 30% overnight.

  5. 20

    Fair points about the regulatory baggage. Didn't think about casinos wanting to avoid SEC attention - that makes sense given how paranoid they already are about compliance.

    The USDT swap route works but adds extra steps and fees. Maybe I'll try reaching out to Voltage support like someone suggested. They do seem more aggressive about adding new tokens compared to the bigger sites.

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