Handbook to Digital Currencies for Online Casinos

Cryptocurrency is a electronic money that uses cryptography to ensure safety. The main feature of cryptocurrencies is their distributed nature, which differentiates them from conventional fiat currencies controlled by national banks. Cryptocurrencies are based on a blockchain system, accessible to users in the network.

The relevance of cryptocurrencies for players is high for several reasons: anonymity of transactions, fast processing, and freedom from political and economic shifts. Using cryptocurrencies in online casinos allows players to bypass difficulties with banking and government restrictions, as well as enhances the level of confidentiality for financial operations.

Advantages of Cryptocurrencies for Online Casino Players

Using cryptocurrencies in online casinos provides players with a variety of benefits that make them an appealing choice for online gambling. This is an crucial part that deserves attention. Namely:

• Anonymity. One of the major advantages of cryptocurrencies is anonymous transactions. Players can top up their accounts and cash out winnings without providing personal data. This is especially important for countries with rigid legislative restrictions on gambling.
• Speed. Cryptocurrency transactions are processed much faster than traditional bank transfers. Thus, players can start playing instantly (after completing a deposit) and also receive their winnings quickly.
• Fees. Here, everything is handled 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 stand guard over security and reliability. They automatically execute the terms of transactions, entirely eliminating the risk 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 traceable.
• Investment. Cryptocurrencies not only function as a means of payment but can also act as an investment asset. Their value can greatly increase, so players often receive passive income without being experienced investors.
• Lack of Control. Cryptocurrencies are not linked to any country or central bank. Vulnerability to political and economic changes remains aside.

TOP-5 Cryptocurrencies for Online Casinos

There are thousands of cryptocurrencies, but some are particularly popular 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 considered 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 occupies a special place in the crypto world thanks to the power 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 no 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 gained rapid popularity due to high transaction speeds and small transfer commissions. Now TON is synonymous with an efficient and reliable system for transactions in online casinos.

Where to Store Cryptocurrency

Before obtaining cryptocurrency, it's crucial to determine where to secure it—cryptocurrency wallets. The choice of a cryptocurrency wallet relies on many elements, including the supported cryptocurrencies, the security level, the convenience of the interface, and features. Let's explore several wallets for your crypto holdings and their features.

MetaMask

This crypto wallet is ideal for holding BTC, ETH, BNB, and numerous 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 multiple features that are noteworthy:

• Installation. The versatile wallet is readily installed as a browser extension. The installation process is straightforward and does not require special technical knowledge. After installation, the user can create a new wallet or import an existing one using a secret phrase (seed phrase).
• Features. Encompasses accepting, storing, and sending cryptocurrencies. You can manage multiple accounts. It smoothly integrates with DApps on the Ethereum blockchain and other similar networks. This makes MetaMask especially popular among users who actively participate in the DeFi and NFT ecosystems.
• Security. High level of security, as the user completely controls the keys. These are private keys that are saved on the device and are not transmitted outside.

TronLink

The official storage for the TRON (TRX) cryptocurrency. It is also ideally 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 suitable for every single TRON blockchain aficionado. It has various features:

• Installation. For the browser, simply go to the Chrome Web Store, find TronLink, and install it to your browser. Smartphone users get the app from the App Store or Google Play. Just go through the usual 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 interact with decentralized applications on the TRON blockchain. There is a feature to exchange one cryptocurrency for another within the wallet itself. You can generate and switch between multiple wallets.
• Security. The safeguarding of assets is provided by multiple layers of security and encryption. User keys are held locally and are not transmitted to outside 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 perhaps the most handy 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 accomplished by searching for the bot through the lookup in the app and initiating a dialogue with it. Following simple and direct prompts, the wallet can be configured in 2 minutes right in your messenger.
• Features. Users store, send, and receive TON, BTC, and USDT cryptocurrencies right within the Telegram interface. This greatly simplifies the process of using cryptocurrency, as it does not require adding extra apps or programs. Transactions here are finished in a few clicks, which is particularly convenient when making a deposit in an online casino from a smartphone.
• Security. The cryptocurrency wallet is integrated into the messenger, supplying a suitable level of security through the use of modern encryption methods native to the Telegram platform. Without your knowledge, funds will not leave your account, but the primary thing is to protect your Telegram account itself.

How to Buy Cryptocurrency

After choosing the appropriate 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 unique services, conditions, and levels of security. Let's start with cryptocurrency exchanges.

Cryptocurrency Exchanges

Crypto exchanges are digital marketplaces where you can buy, sell, and exchange cryptocurrencies using various fiat currencies or alternative digital assets. The most reputable crypto exchanges offer a wide selection of cryptocurrencies and have robust security measures. Here are some examples of reputable crypto exchanges:

• Binance. The biggest crypto exchange in the world with a vast range of cryptocurrencies and trading pairs. This is where the largest volume of crypto trading occurs. Binance features low fees, extensive liquidity, and multiple trading options, including futures and margin trading.
• Coinbase. Attracts users with its user-friendly and intuitive interface, making it an perfect option for beginners. It offers immediate buying of cryptocurrencies with fiat money and supports a wide array of digital assets. It is distinguished by rigorous compliance to regulatory standards, boosting confidence in the dependability of operations.
• Bybit. Specializes in cryptocurrency derivatives and margin trading. The exchange offers attractive rates, quick trades, and powerful trading tools. Bybit is suitable for more experienced 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 submitting a photo of an ID or other personal information.

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 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 choose a crypto exchange and register an account there. The registration process 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 lasts a few days.
3. Deposit funds. After verification, you can deposit fiat money (EUR, USD, RUB) via bank transfer or using payment systems such as debit cards.
4. Buy cryptocurrency. Once the funds are credited to your account, you can acquire cryptocurrency. Select the desired cryptocurrency and place 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 acquired cryptocurrency to the casino's account. This is accomplished 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 begin gaming. Be sure to check any casino bonuses for the deposited amount.

Crypto Exchangers

For those looking for a more straightforward way to get cryptocurrencies, crypto exchangers are a handy alternative. They usually do not require verification and permit fast exchange of fiat money for cryptocurrency. This is a convenient tool for quick buying or exchanges of digital assets.

The biggest advantages of crypto exchangers include the lack of registration and verification, which minimizes the entry barrier for new users and speeds up the transaction process. Also, they generally have no strict geographic restrictions, making exchangers accessible to users worldwide.

To choose a trustworthy 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 usually suggests stability and reliability of the service, as exchangers that have been operating for a long time typically accumulate experience in addressing various operational problems.
• Number of users and ratings. A vital aspect when choosing an exchanger. A high volume of positive reviews can indicate a positive reputation of the service, a convenient interface, and the quality of technical support.
• Commissions. Can differ greatly depending on the exchanger, the type of currency, and the transaction amount. High fees can significantly raise the cost of the operation, so choose platforms with reasonable rates.
• Payment processing. Can be done either automated or manually. Automatic processing systems typically provide speedier transactions, while manual management may take more time but provides an extra level of control over the security of operations.

How to Purchase Cryptocurrency at an Exchanger

The process of purchasing cryptocurrency through crypto exchangers and depositing into a crypto casino is easy and available. 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 shows exchanges with latest rates and exchange conditions.
2. Choose a Cryptocurrency. Pick the cryptocurrency you want to buy. This could be Bitcoin, Ethereum, USDT, or other options suitable for depositing into an online casino.
3. Set the Currency and Payment Amount. Select the currency you have (USD, EUR, RUB) and specify the amount you want to acquire cryptocurrency for.
4. Provide an Account for Receiving Cryptocurrency. Indicate the address of your crypto wallet, to which the acquired cryptocurrency will be sent. Also provide payment information, such as a credit card number or payment system data.
5. Transfer the Money. Send the funds of the specified amount to the account provided by the crypto exchange. After this, the cryptocurrency will be sent to your specified crypto wallet.
6. Deposit into the Online Casino. Once the cryptocurrency reaches your crypto wallet, transfer the necessary amount to the account at the online casino. You can find the deposit details in the ""Deposit"" tab on the casino website.
7. Start Playing and Winning! After the funds are deposited into your casino account, you are prepared 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 straightforward process, similar to making a deposit but in reverse. Let's see what steps you need to take:

1. Go to the ""Withdraw"" Section. 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. Choose a Cryptocurrency. Specify the type of cryptocurrency in which you want to receive your winnings. Usually, it is the same cryptocurrency in which the deposit was made. If there are no issues, move to the next step.
4. Input Your Crypto Wallet Address. At this stage, you need to specify the details of your crypto wallet, to which the funds will be sent. Make sure that the address is entered correctly to avoid errors in the transfer. You can easily get 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 e-mail.
6. Receive Your Winnings. After confirming the operation, the money will be sent to your crypto wallet. Processing time may vary 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 become nearly effortless for you.