Handbook to Digital Currencies for Online Casinos

Cryptocurrency is a virtual money that uses cryptography to ensure safety. The primary feature of cryptocurrencies is their decentralized nature, which differentiates them from conventional fiat currencies regulated by national banks. Cryptocurrencies are based on a blockchain system, accessible to network participants.

The importance of cryptocurrencies for players is high for several reasons: transaction anonymity, fast processing, and freedom from political and economic shifts. Using cryptocurrencies in online casinos allows players to avoid difficulties with banking and government restrictions, as well as increases the degree of confidentiality for financial operations.

Benefits of Cryptocurrencies for Online Casino Players

Using cryptocurrencies in online casinos offers players with a range of advantages that make them an appealing option for online gambling. This is an important part that warrants attention. Namely:

• Anonymity. One of the key advantages of cryptocurrencies is private transactions. Players can top up their accounts and withdraw winnings without providing personal data. This is especially crucial for countries with strict legislative restrictions on gambling.
• Speed. Cryptocurrency transactions are completed much faster than traditional bank transfers. Thus, players can begin gaming instantly (after making a deposit) and also receive their winnings quickly.
• Fees. Here, everything is managed without intermediaries such as banks or payment systems. Therefore, the fees for cryptocurrency transactions are lower than those for using traditional payment methods.
• Reliability. Smart contracts ensure security and reliability. They self-execute the terms of transactions, entirely eliminating the possibility of fraud or technical (banking) errors.
• Transparency. Blockchain technology provides full transparency of all transactions. That is, each transfer is public and auditable, reducing the risk of fraud since the transfer is easily traceable.
• Investment. Cryptocurrencies not only serve as a means of payment but can also act as an investment asset. Their value can greatly increase, so players often earn passive income without being experienced investors.
• Lack of Control. Cryptocurrencies are not tied to any country or central bank. Vulnerability to political and economic changes remains aside.

TOP-5 Cryptocurrencies for Online Casinos

There are hundreds of cryptocurrencies, but some are particularly favored among online casinos. Some of them stand out for their exceptional reliability, ease of use, and widespread acceptance. Here are the five top cryptocurrencies that almost every online casino supports:

• Bitcoin (BTC). Bitcoin is regarded as the ""gold standard"" among cryptocurrencies. It is the most well-known and widely used cryptocurrency in the world. BTC is valued for its high level of security, broad recognition, and the ability to conduct large transactions, which is especially valued in the world of gambling.
• Ethereum (ETH). Ethereum occupies a special place in the crypto world thanks to the power of its smart contracts. With ETH, you can not only send and receive money but also automate many processes and services within online casinos.
• Tether (USDT). This is a ""stable"" currency tied to the US dollar rate. This ensures almost zero volatility (currency exchange rate changes). This point makes USDT the favored choice for players who prefer calm waters over the stormy sea of currency quotes.
• Binance Coin (BNB). The creation of the Binance cryptocurrency exchange. Initially, their internal token became widely used worldwide. BNB quickly became a means of payment in various services, including online casinos.
• Toncoin (TON). Initially an internal token of the Telegram messenger. The cryptocurrency gained rapid popularity due to high transaction speeds and small transfer fees. Now TON is a standard for an efficient and reliable system for transactions in online casinos.

Where to Hold Cryptocurrency

Before obtaining cryptocurrency, it's crucial to determine where to keep it—crypto wallets. The choice of a cryptocurrency wallet is influenced by many aspects, including the supported cryptocurrencies, the security level, the convenience of the interface, and functionalities. Let's examine several wallets for your crypto holdings and their features.

MetaMask

This crypto wallet is ideal for holding BTC, ETH, BNB, and several other cryptocurrencies. It is popular as a web browser extension (Chrome, Firefox, Yandex Browser, etc.) and is also available as a mobile app for iOS and Android. MetaMask has various features that should not be ignored:

• Installation. The versatile wallet is readily installed as a browser extension. The installation process is straightforward and does not require specific technical knowledge. After installation, the user can establish a new wallet or restore an existing one using a secret phrase (seed phrase).
• Features. Involves accepting, storing, and sending cryptocurrencies. You can manage few accounts. It seamlessly integrates with decentralized applications on the Ethereum blockchain and other similar networks. This makes MetaMask notably popular among users who actively participate in the DeFi and NFT ecosystems.
• Security. Strong level of security, as the user solely manages the keys. These are private keys that are stored locally and are never transmitted externally.

TronLink

The designated storage for the TRON (TRX) cryptocurrency. It is also well-suited for handling USDT and USDC on the TRC-20 network. TronLink is available as a browser extension, a mobile app for Android and iOS, and in a web version format. In general, it is ideal for every single TRON blockchain enthusiast. It has multiple features:

• Installation. For the browser, simply visit the Chrome Web Store, search for TronLink, and add it to your browser. Smartphone users download the app from the App Store or Google Play. Just go through the typical procedure for installing apps on your devices.
• Features. With TronLink, you can not only send and receive TRX and TRC-20 tokens, like USDT, but also engage with decentralized applications on the TRON blockchain. There is a feature to swap one cryptocurrency for another within the wallet itself. You can generate and switch between multiple wallets.
• Security. The security of funds is provided by various layers of security and encryption. User keys are stored locally and are not transmitted to outside servers. It is enough to create a complex password and keep it safe.

Crypto Wallet in Telegram (@wallet)

Online casinos actively use the pros of the TON ecosystem, one of the key ones being the crypto wallet built right into the Telegram messenger. This is arguably the most practical tool for online casino players who use Telegram.

• Installation. To start using the cryptocurrency wallet in Telegram, you need to initiate the @wallet bot in the messenger. This can be achieved by finding the bot through the lookup in the app and beginning a dialogue with it. Adhering to clear and easy prompts, the wallet can be established in 2 minutes right in your messenger.
• Features. Users store, send, and receive TON, BTC, and USDT cryptocurrencies directly within the Telegram interface. This considerably streamlines the procedure of using cryptocurrency, as it does not require adding additional apps or programs. Transactions here are completed in a few clicks, which is especially handy when making a deposit in an online casino from a smartphone.
• Security. The cryptocurrency wallet is intertwined into the messenger, providing a suitable security level through the use of advanced encryption methods native to the Telegram platform. Without your knowledge, funds will not leave your account, but the primary thing is to secure your Telegram account itself.

How to Purchase Cryptocurrency

After choosing the suitable crypto wallet, the next step is to load it with cryptocurrency. For this, there are dedicated platforms - cryptocurrency exchanges and crypto exchangers. Each option offers particular services, conditions, and levels of security. Let's start with cryptocurrency exchanges.

Cryptocurrency Exchanges

Crypto exchanges are digital marketplaces where you can acquire, sell, and swap cryptocurrencies using different fiat currencies or alternative digital assets. The most renowned crypto exchanges offer a broad selection of cryptocurrencies and have strong security measures. Here are some examples of well-regarded crypto exchanges:

• Binance. The biggest crypto exchange in the world with a wide range of cryptocurrencies and trading pairs. This is where the largest volume of crypto trading takes place. Binance features low fees, extensive liquidity, and various trading options, including futures and margin trading.
• Coinbase. Attracts users with its easy-to-navigate interface, making it an ideal option for beginners. It offers direct purchasing of cryptocurrencies with fiat money and supports a large number of digital assets. It is distinguished by rigorous compliance to regulatory standards, providing confidence in the reliability of operations.
• Bybit. Specializes in crypto derivatives and margin trading. The exchange offers low costs, speedy transactions, and powerful trading tools. Bybit is appropriate for more experienced users who wish to employ various trading strategies.

Identity Verification and Geographic Restrictions

To work with crypto exchanges, you need to go through the identity verification process (KYC), which helps exchanges fight against fraud and money laundering. This process includes providing a photo of an ID or additional personal details.

It is also important to remember that some crypto exchanges do not provide their services to citizens of certain countries due to local legislation. Always check the availability of the operation in your region and clarify the terms of service on the official website or through technical support.

How to Purchase Cryptocurrency on a Crypto Exchange

The process of purchasing cryptocurrency on a crypto exchange and subsequently depositing it into an online casino consists of several steps.

1. Sign Up. To begin, you need to choose a crypto exchange and create an account there. The registration procedure usually requires entering basic information such as name, email, and password.
2. Finish identity verification. To meet regulatory requirements, most crypto exchanges require identity verification. This may involve sending a photo of a passport or another form of ID, and sometimes confirming the address of residence. The process usually requires a few days.
3. Deposit funds. After verification, you can deposit fiat money (EUR, USD, RUB) via bank transfer or using other payment methods such as debit cards.
4. Purchase cryptocurrency. Once the funds reach your account, you can purchase cryptocurrency. Pick the desired cryptocurrency and set a purchase order at the current market rate or set your price with a purchase order.
5. Transfer cryptocurrency to the online casino. To play in a crypto casino, you need to send some of the purchased cryptocurrency to the casino's account. This is accomplished through the withdrawal function on the exchange, specifying the casino wallet address.
6. Confirm the transaction and start playing. Verify the information you input at each step. Once the cryptocurrency reaches your casino account, you can begin gaming. Be sure to look for any casino bonuses for the deposited amount.

Crypto Exchangers

For those seeking a easier way to acquire cryptocurrencies, crypto exchangers are a practical alternative. They commonly do not require verification and permit quick exchange of fiat money for cryptocurrency. This is a convenient tool for fast buying or exchanges of digital assets.

The biggest advantages of crypto exchangers include the lack of registration and verification, which lowers the entry barrier for new users and speeds up the transaction process. Also, they typically have no strict geographic restrictions, making exchangers available to users around the world.

To pick a reliable cryptocurrency exchange service, pay attention to the following aspects:

• Project age. Serves as an sign of the reliability of the exchanger. Long-term presence in the market often shows stability and reliability of the service, as exchangers that have been operating for a long time usually accumulate experience in solving various operational problems.
• Number of users and ratings. A crucial aspect when choosing an exchanger. A large number of positive reviews can indicate a positive reputation of the service, a user-friendly interface, and the quality of technical support.
• Commissions. Can vary considerably depending on the exchanger, the type of currency, and the transaction amount. High fees can significantly raise the cost of the operation, so select platforms with competitive rates.
• Payment processing. Can be executed either automatically or manually. Auto processing systems generally provide speedier transactions, while manual management may take more time but provides an additional level of control over the security of operations.

How to Buy Cryptocurrency at an Exchanger

The process of buying cryptocurrency through crypto exchangers and depositing into a crypto casino is easy and accessible. Below are the steps you need to follow.

1. Select a Crypto Exchanger. Use the BestChange exchange monitoring service to identify a reliable exchanger with the best rates and feedbacks. The platform displays exchanges with up-to-date rates and exchange conditions.
2. Select a Cryptocurrency. Decide on the cryptocurrency you want to acquire. This could be Bitcoin, Ethereum, USDT, or other options available for depositing into an online casino.
3. Set the Currency and Payment Amount. Select the currency you have (USD, EUR, RUB) and indicate the amount you want to acquire cryptocurrency for.
4. Provide an Account for Receiving Cryptocurrency. Provide the address of your crypto wallet, to which the purchased cryptocurrency will be sent. Also provide payment information, such as a credit card number or payment system data.
5. Transfer the Money. Complete the payment of the specified amount to the wallet provided by the crypto exchange. After this, the cryptocurrency will be sent to your specified crypto wallet.
6. Transfer Crypto into the Online Casino. Once the cryptocurrency arrives in your crypto wallet, transfer the necessary amount to the account at the online casino. You can get the deposit details in the ""Deposit"" page on the casino website.
7. Start Playing! After the funds are credited to your casino account, you are ready to start playing. Don't forget to look for possible deposit bonuses that can increase your chances of winning.

How to Withdraw Winnings in Cryptocurrency

Cashing-out winnings in cryptocurrency from an online casino to your crypto wallet is a simple process, akin to making a deposit but in reverse. Let's see what steps you need to take:

1. Go to the ""Withdraw"" Page. In your personal account on the casino website, find the ""Withdraw"" tab.
2. Set the Amount. Enter the eligible amount you want to withdraw from your gaming balance.
3. Choose a Cryptocurrency. Specify the type of cryptocurrency in which you wish to receive your winnings. Usually, it is the same cryptocurrency in which the deposit was made. If there are no issues, proceed to the next step.
4. Enter Your Crypto Wallet Address. At this stage, you need to provide the details of your crypto wallet, to which the funds will be sent. Ensure that the address is entered correctly to avoid errors in the transfer. You can easily find the address in the main window of your wallet.
5. Confirm the Transfer. The withdrawal request must be confirmed by you, depending on the protection set on your account. This might be done through two-factor authentication or email.
6. Receive Your Winnings. After verifying the operation, the money will be sent to your crypto wallet. Processing time may vary depending on the blockchain network load.

Summary

Now you are familiar with the basics of using cryptocurrency: from purchasing and storing to placing in an online casino and withdrawing winnings. The first time may involve some confusion and trepidation, but over time, the process will become nearly effortless for you.