Handbook to Digital Currencies for Online Casinos

Cryptocurrency is a digital currency that uses encryption to ensure safety. The main feature of cryptocurrencies is their distributed nature, which distinguishes them from conventional fiat currencies regulated by central banks. Cryptocurrencies are based on blockchain technology, accessible to network participants.

The relevance of cryptocurrencies for gamblers is high for several reasons: transaction anonymity, high speed, and independence from geopolitical and macroeconomic changes. Using cryptocurrencies in online casinos enables players to bypass issues with banking and government restrictions, as well as increases the level 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 choice for online gambling. This is an important part that deserves 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 rigid legislative restrictions on gambling.
• Speed. Cryptocurrency transactions are completed much faster than traditional bank transfers. Thus, players can start playing instantly (after making a deposit) and also withdraw their winnings quickly.
• Fees. Here, everything is managed without intermediaries such as banks or payment systems. Therefore, the fees for cryptocurrency transactions are cheaper than those for using conventional payment methods.
• Reliability. Smart contracts stand guard over security and reliability. They self-execute the terms of transactions, completely eliminating the possibility of fraud or technical (banking) errors.
• Transparency. Blockchain technology ensures complete transparency of all transactions. That is, each transfer is open and verifiable, minimizing the risk of fraud since the transfer is easily provable.
• Investment. Cryptocurrencies not only function as a means of payment but can also act as an investment asset. Their value can significantly increase, so players often earn passive income without being seasoned 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 popular among online casinos. Some of them distinguish themselves for their exceptional reliability, ease of use, and widespread adoption. 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 famous 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 appreciated in the world of gambling.
• Ethereum (ETH). Ethereum holds a special place in the crypto world thanks to the capabilities of its smart contracts. With ETH, you can not only transfer money but also automate many processes and services within online casinos.
• Tether (USDT). This is a ""stable"" currency pegged to the US dollar rate. This ensures almost zero volatility (currency exchange rate changes). This feature makes USDT the preferred 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 many projects, including online casinos.
• Toncoin (TON). Initially an internal token of the Telegram messenger. The cryptocurrency reached rapid popularity due to high transaction speeds and low transfer fees. Now TON is synonymous with an effective and reliable system for transactions in online casinos.

Where to Hold Cryptocurrency

Before obtaining cryptocurrency, it's important to choose where to secure it—cryptocurrency wallets. The choice of a crypto wallet relies on many factors, including the types of supported currencies, the security level, the ease of use of the interface, and features. Let's look at a few wallets for your crypto holdings and their characteristics.

MetaMask

This crypto wallet is suitable for holding BTC, ETH, BNB, and numerous other cryptocurrencies. It is favored as a web browser extension (Chrome, Firefox, Yandex Browser, etc.) and is also accessible as a mobile app for iOS and Android. MetaMask has several features that cannot be overlooked:

• Installation. The multi-currency wallet is quickly installed as a browser extension. The process of installation is easy and does not require specific technical knowledge. After installation, the user can establish a new wallet or import an existing one using a secret phrase (seed phrase).
• Features. Encompasses receiving, keeping, and transferring cryptocurrencies. You can manage few accounts. It easily integrates with decentralized applications on the Ethereum blockchain and other similar networks. This makes MetaMask notably popular among users who engage in the DeFi and NFT ecosystems.
• Security. High security level, as the user completely controls the keys. These are private keys that are saved locally and are not transmitted outside.

TronLink

The designated storage for the TRON (TRX) cryptocurrency. It is also perfectly designed for managing 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 suitable for all and every TRON blockchain aficionado. It has various features:

• Installation. For the browser, simply go to the Chrome Web Store, find TronLink, and add it to your browser. Smartphone owners download the app from the App Store or Google Play. Just follow the typical procedure for setting up 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 dApps 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 guaranteed by multiple layers of security and encryption. User keys are stored locally and are not transmitted to external servers. It is enough to create a complex password and keep it secret.

Crypto Wallet in Telegram (@wallet)

Online casinos make use of the advantages of the TON ecosystem, one of the main ones being the crypto wallet built right into the Telegram messenger. This is arguably the most handy tool for online casino players who use Telegram.

• Installation. To start using the cryptocurrency wallet in Telegram, you need to enable the @wallet bot in the messenger. This can be achieved by locating the bot through the lookup in the app and initiating a dialogue with it. Following straightforward and easy prompts, the wallet can be set up in 2 minutes right in your messenger.
• Features. Users store, send, and receive TON, BTC, and USDT cryptocurrencies directly within the Telegram interface. This greatly streamlines the procedure of using cryptocurrency, as it does not require installing more apps or programs. Transactions here are finished in a few clicks, which is especially useful when making a deposit in an online casino from a smartphone.
• Security. The cryptocurrency wallet is integrated into the messenger, supplying a adequate level of security through the use of sophisticated encryption methods inherent 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 Acquire Cryptocurrency

After picking the appropriate crypto wallet, the next step is to fund it with cryptocurrency. For this, there are dedicated platforms - crypto exchanges and crypto exchangers. Each option offers unique services, conditions, and degrees of security. Let's start with cryptocurrency exchanges.

Cryptocurrency Exchanges

Crypto exchanges are online platforms where you can buy, trade, and swap cryptocurrencies using multiple fiat currencies or other cryptocurrencies. The most reputable crypto exchanges offer a vast selection of cryptocurrencies and have solid 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 competitive rates, extensive liquidity, and multiple trading options, including futures and margin trading.
• Coinbase. Attracts users with its user-friendly and intuitive interface, making it an excellent option for beginners. It offers immediate buying of cryptocurrencies with fiat money and supports a wide array of digital assets. It is distinguished by strict adherence to regulatory standards, boosting confidence in the dependability of operations.
• Bybit. Specializes in crypto derivatives and margin trading. The exchange offers attractive rates, fast order execution, and advanced trading tools. Bybit is appropriate for more sophisticated users who wish to utilize various trading strategies.

Identity Verification and Geographic Restrictions

To work with crypto exchanges, you need to complete 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 exchange in your region and clarify the terms of service on the site or through technical support.

How to Purchase Cryptocurrency on a Crypto Exchange

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

1. Sign Up. To begin, you need to pick a crypto exchange and sign up for an account there. The registration procedure usually involves entering basic information such as name, email, and password.
2. Complete identity verification. To adhere to regulatory requirements, most crypto exchanges require identity verification. This may involve submitting a photo of a passport or other identification document, and sometimes verifying the address of residence. The process usually takes several days.
3. Deposit funds. After verification, you can deposit fiat money (EUR, USD, RUB) via bank transfer or using other payment methods such as credit cards.
4. Purchase cryptocurrency. Once the funds reach your account, you can purchase cryptocurrency. Select the desired cryptocurrency and make a purchase order at the current market rate or set your price with a purchase order.
5. Transfer cryptocurrency to the online casino. To start playing in a crypto casino, you need to send some of the bought cryptocurrency to the casino's account. This is done through the withdrawal function on the exchange, providing the casino wallet address.
6. Confirm the transaction and start playing. Verify the information you input at each step. Once the cryptocurrency is deposited into your casino account, you can commence play. Be sure to look for any casino bonuses for the deposited amount.

Cryptocurrency Exchangers

For those seeking a more straightforward way to acquire cryptocurrencies, crypto exchangers are a convenient alternative. They usually do not require verification and allow fast exchange of fiat money for cryptocurrency. This is a useful 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 expedites the transaction process. Also, they generally have no strict geographic restrictions, making exchangers accessible to users worldwide.

To choose a worthy cryptocurrency exchange service, pay attention to the following aspects:

• Length of operation. Serves as an indicator of the reliability of the exchanger. Extended presence in the market usually shows safety and reliability of the service, as exchangers that have been operating for a long time often accumulate experience in solving various operational problems.
• Number of users and feedbacks. A vital aspect when choosing an exchanger. A large number of positive reviews can indicate a positive reputation of the service, a convenient interface, and the quality of technical support.
• Commissions. Can differ significantly depending on the exchanger, the type of currency, and the transaction amount. Increased fees can considerably increase the cost of the operation, so choose platforms with competitive rates.
• Transaction processing. Can be done either automated or manually. Automatic processing systems generally provide speedier transactions, while manual management may require more time but provides an extra level of control over the security of operations.

How to Purchase Cryptocurrency at an Exchanger

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

1. Select a Crypto Exchanger. Use the BestChange exchange monitoring service to find a reliable exchanger with the best rates and feedbacks. The platform shows exchanges with current rates and exchange conditions.
2. Select a Cryptocurrency. Decide on the cryptocurrency you want to purchase. This could be Bitcoin, Ethereum, USDT, or various options suitable for depositing into an online casino.
3. Set the Currency and Payment Amount. Choose the currency you have (USD, EUR, RUB) and specify the amount you want to purchase 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 details, such as a bank card number or payment system data.
5. Transfer the Money. Make the transfer of the indicated amount to the wallet provided by the crypto exchange. After this, the cryptocurrency will be sent to your indicated 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 find the deposit details in the ""Deposit"" page on the casino website.
7. Start Playing and Winning! After the funds are transferred to your casino account, you are ready to start playing. Don't forget to check possible deposit bonuses that can boost 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, similar 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. Specify the Amount. Enter the available amount you want to withdraw from your casino balance.
3. Select 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 address of your crypto wallet, to which the funds will be sent. Make sure that the address is correct 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 confirming the operation, the money will be sent to your crypto wallet. Processing time may change depending on the blockchain network load.

Conclusion

Now you are familiar with the basics of using cryptocurrency: from buying and keeping to depositing into an online casino and withdrawing winnings. The first time may involve some uncertainty and nervousness, but over time, the process will turn nearly effortless for you.