Handbook to Digital Currencies for Online Casinos

Cryptocurrency is a virtual currency that uses encryption to ensure safety. The main feature of cryptocurrencies is their decentralized nature, which distinguishes them from conventional government-issued money regulated by central banks. Cryptocurrencies are based on blockchain technology, accessible to users in the network.

The relevance of cryptocurrencies for gamblers is high for several reasons: transaction anonymity, fast processing, and independence from geopolitical and macroeconomic changes. Using cryptocurrencies in online casinos allows players to bypass difficulties 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 provides players with a variety of advantages that make them an attractive option 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 fund 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 conventional bank transfers. Thus, players can start playing instantly (after making 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 cheaper than those for using conventional payment methods.
• Reliability. Smart contracts ensure security and reliability. They self-execute the terms of transactions, completely 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 auditable, minimizing the risk of fraud since the transfer is easily provable.
• Investment. Cryptocurrencies not only function as a means of payment but can also serve as an investment asset. Their value can greatly increase, so players often earn 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 favored among online casinos. Some of them distinguish themselves for their outstanding reliability, ease of use, and widespread adoption. Here are the five main 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 prized 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 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 tied 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 services, including online casinos.
• Toncoin (TON). Originally an internal token of the Telegram messenger. The cryptocurrency gained 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 secure it—digital wallets. The choice of a cryptocurrency wallet is influenced by many factors, including the supported cryptocurrencies, the security level, the convenience of the interface, and functionalities. Let's look at a few wallets for your crypto holdings and their characteristics.

MetaMask

This crypto wallet is ideal for storing BTC, ETH, BNB, and several other cryptocurrencies. It is favored as a web browser extension (Chrome, Firefox, Yandex Browser, etc.) and is also available 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 simple and does not require advanced technical knowledge. After installation, the user can establish a new wallet or import 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 engage in the DeFi and NFT ecosystems.
• Security. High security level, as the user solely manages the keys. These are private keys that are kept locally and are never transmitted outside.

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 available as a browser extension, a mobile app for Android and iOS, and in a web version format. In general, it is ideal for each and every TRON blockchain aficionado. It has several features:

• Installation. For the browser, simply go to the Chrome Web Store, find TronLink, and install it to your browser. Smartphone owners 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 transact with TRX and TRC-20 tokens, like USDT, but also interact with decentralized applications on the TRON blockchain. There is a feature to trade one cryptocurrency for another within the wallet itself. You can generate and switch between multiple wallets.
• Security. The safeguarding of assets is provided by several levels of security and encryption. User keys are stored on the device and are not transmitted to outside servers. It is enough to set up a strong password and keep it secret.

Crypto Wallet in Telegram (@wallet)

Online casinos frequently utilize 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 accomplished by searching for the bot through the search in the app and starting a dialogue with it. Adhering to clear and easy prompts, the wallet can be set up in 2 minutes right in your messenger.
• Features. Users store, transmit, and receive TON, BTC, and USDT cryptocurrencies directly within the Telegram interface. This significantly streamlines the procedure of using cryptocurrency, as it does not require installing extra apps or programs. Transactions here are completed 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, providing a sufficient 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 main thing is to secure your Telegram account itself.

How to Acquire Cryptocurrency

After picking the suitable crypto wallet, the next step is to fund it with cryptocurrency. For this, there are specific platforms - crypto 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 online platforms where you can acquire, trade, and exchange cryptocurrencies using multiple fiat currencies or alternative digital assets. The most renowned crypto exchanges offer a wide selection of cryptocurrencies and have robust security measures. Here are some examples of reputable crypto exchanges:

• Binance. The largest crypto exchange in the world with a broad range of cryptocurrencies and trading pairs. This is where the largest volume of crypto trading happens. Binance features competitive rates, high liquidity, and various trading options, including futures and margin trading.
• Coinbase. Attracts users with its user-friendly and intuitive interface, making it an ideal option for beginners. It offers immediate buying of cryptocurrencies with fiat money and supports a vast selection of digital assets. It is distinguished by strong adherence to regulatory standards, boosting confidence in the trustworthiness of operations.
• Bybit. Specializes in cryptocurrency derivatives and margin trading. The exchange offers attractive rates, speedy transactions, and sophisticated trading tools. Bybit is ideal for more experienced users who wish to leverage different trading strategies.

Identity Verification and Geographic Restrictions

To work with crypto exchanges, you need to undergo 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 keep in mind 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 platform or through technical support.

How to Buy Cryptocurrency on a Crypto Exchange

The process of acquiring cryptocurrency on a crypto exchange and subsequently transferring 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 requires entering basic information such as name, email, and password.
2. Finish identity verification. To comply with regulatory requirements, most crypto exchanges require identity verification. This may involve submitting a photo of a passport or another form of ID, and sometimes verifying the address of residence. The process usually takes several days.
3. Deposit funds. After verification, you can deposit fiat currency (EUR, USD, RUB) via bank transfer or using other payment methods such as electronic wallets.
4. Purchase cryptocurrency. Once the funds are credited to your account, you can acquire cryptocurrency. Select the desired cryptocurrency and set a purchase order at the current market rate or set your price with a limit order.
5. Send cryptocurrency to the online casino. To start playing in a crypto casino, you need to transfer some of the acquired cryptocurrency to the casino's account. This is done through the withdrawal function on the exchange, specifying the casino wallet address.
6. Confirm the transaction and start playing. Double-check the information you provided at each step. Once the cryptocurrency arrives in your casino account, you can begin gaming. Be sure to look for any casino bonuses for the deposited amount.

Crypto Exchangers

For those looking for a easier way to acquire cryptocurrencies, crypto exchangers are a practical alternative. They usually do not require verification and allow quick exchange of fiat money for cryptocurrency. This is a handy tool for speedy transactions 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 expedites the transaction process. Also, they usually have no strict geographic restrictions, making exchangers accessible to users globally.

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

• Project age. Serves as an sign of the reliability of the exchanger. Extended presence in the market usually suggests safety and reliability of the service, as exchangers that have been operating for a long time typically accumulate experience in resolving various operational problems.
• Number of users and feedbacks. A vital aspect when choosing an exchanger. A great amount of positive reviews can indicate a positive reputation of the service, a user-friendly interface, and the quality of technical support.
• Fees. Can fluctuate significantly depending on the exchanger, the type of currency, and the transaction amount. High fees can significantly increase the cost of the operation, so choose platforms with reasonable rates.
• Payment processing. Can be executed either automatically or manually. Automatic processing systems usually 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 simple and available. 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 shows exchanges with up-to-date 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. Specify 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. Indicate the address of your crypto wallet, to which the acquired cryptocurrency will be sent. Also provide payment details, such as a bank card number or payment system data.
5. Transfer the Funds. Complete the payment of the stated 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 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 credited to your casino account, you are prepared to start playing. Don't forget to check possible deposit bonuses that can boost your chances of winning.

How to Withdraw Winnings in Cryptocurrency

Withdrawing winnings in cryptocurrency from an online casino to your crypto wallet is a straightforward 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 profile on the casino website, find the ""Withdraw"" tab.
2. Specify the Amount. Enter the eligible 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. Often, it is the same cryptocurrency in which the deposit was made. If there are no difficulties, proceed to the next step.
4. Input Your Crypto Wallet Address. At this stage, you need to provide 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 verified by you, depending on the security level 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 change depending on the blockchain network load.

Summary

Now you are acquainted 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 confusion and trepidation, but over time, the process will turn almost automatic for you.