Handbook to Digital Currencies for Online Casinos

Cryptocurrency is a virtual money that uses cryptography to ensure safety. The key feature of cryptocurrencies is their distributed nature, which differentiates them from traditional fiat currencies controlled by national banks. Cryptocurrencies are based on blockchain—a distributed and decentralized database of all transactions, 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 enables players to avoid difficulties with banking and government restrictions, as well as enhances the degree of privacy for financial operations.

Benefits 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 warrants attention. Namely:

• Anonymity. One of the key advantages of cryptocurrencies is anonymous transactions. Players can fund 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 conventional bank transfers. Thus, players can start playing instantly (after completing a deposit) and also withdraw their winnings quickly.
• Fees. Here, everything is handled without intermediaries such as banks or payment systems. Therefore, the fees for cryptocurrency transactions are cheaper than those for using traditional payment methods.
• Reliability. Smart contracts ensure security and reliability. They self-execute the terms of transactions, entirely removing the risk of fraud or technical (banking) errors.
• Transparency. Blockchain technology provides full transparency of all transactions. That is, each transfer is open and verifiable, reducing 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 receive passive income without being seasoned investors.
• Lack of Control. Cryptocurrencies are not linked to any country or central bank. Vulnerability to political and economic changes is minimized.

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 outstanding 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 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 appreciated in the world of gambling.
• Ethereum (ETH). Ethereum holds 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 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 value 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 services, including online casinos.
• Toncoin (TON). Initially an internal token of the Telegram messenger. The cryptocurrency reached rapid popularity due to high transaction speeds and small transfer commissions. Now TON is a standard for an effective and reliable system for transactions in online casinos.

Where to Hold Cryptocurrency

Before acquiring cryptocurrency, it's crucial to decide on where to keep it—digital wallets. The choice of a cryptocurrency wallet is influenced by many elements, including the variety of supported digital currencies, the security level, the ease of use of the user interface, and features. Let's look at a few wallets for your crypto assets and their characteristics.

MetaMask

This crypto wallet is suitable for keeping 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 should not be ignored:

• Installation. The versatile wallet is easily installed as a browser extension. The process of installation is easy and does not require advanced technical knowledge. After installation, the user can establish a new wallet or restore an existing one using a secret phrase (seed phrase).
• Features. Includes receiving, storing, and transferring cryptocurrencies. You can manage multiple accounts. It smoothly integrates with decentralized applications on the Ethereum blockchain and other similar networks. This makes MetaMask particularly popular among users who take part in the DeFi and NFT ecosystems.
• Security. Strong level of security, as the user solely manages the keys. These are private keys that are saved on the device and are never transmitted externally.

TronLink

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

• Installation. For the browser, simply visit the Chrome Web Store, locate TronLink, and install it to your browser. Smartphone owners get the app from the App Store or Google Play. Just go through the standard 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 trade one cryptocurrency for another within the wallet itself. You can create and switch between multiple wallets.
• Security. The safeguarding of assets is guaranteed by several levels of protection and encryption. User keys are held on the device and are not transmitted to outside servers. It is enough to set up a strong password and keep it safe.

Crypto Wallet in Telegram (@wallet)

Online casinos make use of the advantages of the TON ecosystem, one of the principal 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 enable the @wallet bot in the messenger. This can be accomplished by finding the bot through the lookup in the app and initiating a dialogue with it. Adhering to simple and direct prompts, the wallet can be established 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 procedure of using cryptocurrency, as it does not require installing more apps or programs. Transactions here are completed in a few clicks, which is particularly handy when making a deposit in an online casino from a smartphone.
• Security. The cryptocurrency wallet is intertwined into the messenger, offering a suitable level of security through the use of advanced encryption methods inherent to the Telegram platform. Without your knowledge, funds will not leave your account, but the main thing is to safeguard your Telegram account itself.

How to Buy Cryptocurrency

After selecting the suitable crypto wallet, the next step is to deposit cryptocurrency. For this, there are specialized platforms - crypto exchanges and crypto exchangers. Each option offers specific services, conditions, and degrees of security. Let's start with cryptocurrency exchanges.

Cryptocurrency Exchanges

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

• Binance. The largest crypto exchange in the world with a broad range of cryptocurrencies and trading instruments. This is where the largest volume of crypto trading happens. Binance features low fees, high liquidity, and numerous trading options, including futures and margin trading.
• Coinbase. Attracts users with its easy-to-navigate interface, making it an perfect option for beginners. It offers direct purchasing of cryptocurrencies with fiat money and supports a wide array of digital assets. It is distinguished by strong adherence to regulatory standards, boosting confidence in the reliability of operations.
• Bybit. Specializes in crypto derivatives and margin trading. The exchange offers low costs, fast order execution, and powerful trading tools. Bybit is ideal for more experienced users who wish to leverage multiple trading strategies.

Identity Verification and Geographic Regulations

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 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 Buy Cryptocurrency on a Crypto Exchange

The process of purchasing 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 select a crypto exchange and register an account there. The registration process usually requires entering basic information such as name, email, and password.
2. Finish identity verification. To adhere to regulatory requirements, most crypto exchanges require identity verification. This may involve sending a photo of a passport or another form of ID, and sometimes verifying the address of residence. The process usually requires a few days.
3. Deposit funds. After verification, you can deposit fiat currency (EUR, USD, RUB) via bank transfer or using payment systems such as debit cards.
4. Purchase cryptocurrency. Once the funds reach your account, you can purchase cryptocurrency. Choose the desired cryptocurrency and place a purchase order at the current market rate or set your price with a limit order.
5. Send cryptocurrency to the online casino. To play 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, specifying the casino wallet address.
6. Confirm the transaction and start playing. Verify the information you entered at each step. Once the cryptocurrency reaches your casino account, you can commence play. Be sure to check any casino bonuses for the deposited amount.

Crypto Exchangers

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

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

To pick a worthy cryptocurrency exchange service, pay attention to the next aspects:

• Length of operation. Serves as an indicator 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 resolving various operational problems.
• Number of users and ratings. A crucial aspect when choosing an exchanger. A high volume of positive reviews can indicate a good reputation of the service, a convenient interface, and the quality of technical support.
• Commissions. Can vary significantly depending on the exchanger, the type of currency, and the transaction amount. Increased fees can greatly raise the cost of the operation, so select platforms with reasonable rates.
• Transaction processing. Can be executed either automated or manually. Automatic processing systems typically provide faster transactions, while manual management may require more time but offers an additional level of control over the security of operations.

How to Purchase Cryptocurrency at an Exchanger

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

1. Select a Crypto Exchanger. Use the BestChange exchange monitoring service to locate a reliable exchanger with the best rates and feedbacks. The platform displays exchanges with up-to-date rates and exchange conditions.
2. Choose a Cryptocurrency. Pick the cryptocurrency you want to acquire. This could be Bitcoin, Ethereum, USDT, or other options available for depositing into an online casino.
3. Specify 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 details, such as a credit card number or payment system data.
5. Transfer the Funds. Make the transfer of the indicated amount to the account provided by the crypto exchange. After this, the cryptocurrency will be sent to your chosen crypto wallet.
6. Transfer Crypto into the Online Casino. Once the cryptocurrency is deposited into 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 transferred 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 straightforward 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 profile 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. Select the type of cryptocurrency in which you want to receive your winnings. Often, it is the same cryptocurrency in which the deposit was made. If there are no issues, proceed to the next step.
4. Input 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 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 verified by you, depending on the security level 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.

Conclusion

Now you are acquainted with the basics of using cryptocurrency: from purchasing and storing 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 almost automatic for you.